Common use of Title to, Liens on, and Sale and Use of Collateral Clause in Contracts

Title to, Liens on, and Sale and Use of Collateral. Each Grantor represents and warrants to the Agent, the Trustee and the Holders and agrees with the Agent, the Trustee and the Holders that: (a) such Grantor has rights in and the power to transfer all of the Collateral free and clear of all Liens whatsoever, except for Liens securing the Senior Facility and all Liens permitted thereunder; (b) the Agent's Liens in the Collateral will not be subject to any prior Lien except as set forth in the Indenture; and (c) such Grantor will use, store, and maintain the Collateral with all reasonable care and will use such Collateral for lawful purposes only.

Appears in 2 contracts

Samples: Security Agreement (Rockford Corp), Securities Purchase Agreement (Rockford Corp)

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Title to, Liens on, and Sale and Use of Collateral. Each Grantor represents and warrants to the Agent, the Trustee Agent and the Holders Lenders and agrees with the Agent, the Trustee and the Holders that: (a) such Grantor has rights in and the power to transfer all of the Collateral free and clear of all Liens whatsoever, except for Liens securing the Senior Facility and all Liens permitted thereunderPermitted Liens; (b) the Agent's Liens in the Collateral will not be subject to any prior Lien except for Permitted Liens to the extent and as set forth in permitted by the IndentureCredit Agreement; and (c) such the Grantor will use, store, and maintain the Collateral with all reasonable care and will use such Collateral for lawful purposes only.

Appears in 1 contract

Samples: Security Agreement (Daisytek International Corporation /De/)

Title to, Liens on, and Sale and Use of Collateral. Each Grantor represents and warrants to Collateral Agent or the AgentSecurity Trustee, as the Trustee and the Holders case may be, and agrees with Collateral Agent or the AgentSecurity Trustee, as the Trustee and the Holders case may be, that: (a) such Grantor has rights in and the power to transfer all of the Collateral free and clear of all Liens whatsoever, except for Liens securing the Senior Facility and all Liens permitted thereunderPermitted Liens; (b) Collateral Agent’s or the Agent's Security Trustee’s, as the case may be, Liens in the Collateral will not be subject to any prior Lien except as set forth in the Indenturefor Permitted Liens; and (c) such Grantor will use, store, and maintain the Collateral with all reasonable care and will use such Collateral for lawful purposes only.

Appears in 1 contract

Samples: General Security Agreement (United Maritime Group, LLC)

Title to, Liens on, and Sale and Use of Collateral. Each Grantor represents and warrants to the Agent, the Trustee Agent and the Holders Lenders and agrees with the Agent, the Trustee Agent and the Holders Lenders that: (a) except as expressly permitted by the Credit Agreement, such Grantor has rights owns its interests in and the power to transfer all of the Collateral free and clear of all Liens whatsoever, except for Liens securing the Senior Facility and all Liens permitted thereunderany Lien; (b) the Agent's ’s Liens in the Collateral will not be subject to any prior Lien except as set forth for those Liens identified in clauses (c), (d) and (e) of the Indenturedefinition of Permitted Liens; and (c) such Grantor will use, store, and maintain the Collateral with all reasonable care and will use such Collateral for lawful purposes only.

Appears in 1 contract

Samples: Pledge and Security Agreement (Levi Strauss & Co)

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Title to, Liens on, and Sale and Use of Collateral. Each Grantor represents and warrants to the Agent, the Trustee and the Holders and agrees with the Agent, the Trustee and the Holders that: (a) such Grantor has rights in and the power to transfer all of the Collateral free and clear of all Liens whatsoever, except for Liens securing the Senior Facility and all Liens permitted thereunderPermitted Liens; (b) the Agent's ’s Liens in the Collateral will not be subject to any prior Lien except as set forth in the Indenture; and (c) such Grantor will use, store, and maintain the Collateral with all reasonable care and will use such Collateral for lawful purposes only.

Appears in 1 contract

Samples: Security Agreement (Acg Holdings Inc)

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