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

Title to, Liens on, and Sale of Collateral. The Borrower represents and warrants to the Bank that (except as for any Collateral that has not been paid for, but such obligation is included in accounts payable or accrued liabilities): (a) all of the Collateral is and will continue to be owned solely by the Borrower free and clear of all Liens whatsoever except for the Bank’s Liens and Permitted Liens; (b) the Bank’s Liens in the Collateral will not be subject to any prior Lien; (c) the Borrower will store and maintain the Collateral with all reasonable care; and (d) the Borrower will not, without the Bank’s prior written approval, sell, or dispose of or permit the sale or disposition of any of the Collateral other than in the ordinary course of business. The inclusion of proceeds in the Collateral shall not be deemed to constitute the Bank’s consent to any sale or other disposition of the Collateral except as expressly permitted herein.

Title to, Liens on, and Sale of Collateral. The Borrower represents and warrants to the Bank that (except as for any Collateral that has not been paid for, but such obligation is included in accounts payable or accrued liabilities): Agent and the Banks that: (a) all of the Collateral is and will continue to be owned solely by the Borrower free and clear of all Liens whatsoever except for the Bank’s Agent's Liens and Permitted Liens; (b) the Bank’s Agent's Liens in the Collateral will not be subject to any prior Lien; (c) the Borrower will store and maintain the Collateral with all reasonable care; and (d) the Borrower will not, without the Bank’s Agent's prior written approval, sell, or dispose of or permit the sale or disposition of any of the Collateral other than in the ordinary course of business. The inclusion of proceeds in the Collateral shall not be deemed to constitute the Bank’s Agent's consent to any sale or other disposition of the Collateral except as expressly permitted herein.

Title to, Liens on, and Sale of Collateral. The Borrower represents and warrants to the Bank that (except as for any Collateral that has not been paid for, but such obligation is included in accounts payable or accrued liabilities): Lender and agrees with the Lender that: (a) all of the Collateral is and will continue to be owned solely by the Borrower free and clear of all Liens whatsoever except for the Bank’s Liens and Permitted Lienswhatsoever; (b) the Bank’s Lender's Liens in the Collateral will not be subject to any prior Lien; (c) the Borrower will store use, store, and maintain the Collateral with all reasonable care; and (d) the Borrower will not, without the Bank’s Lender's prior written approval, sell, or dispose of or permit the sale or disposition of any of the Collateral other than Collateral, except for the sale of repossessed Vehicles in the ordinary normal course of business. The inclusion of proceeds in the Collateral shall not be deemed to constitute the Bank’s Lender's consent to any sale or other disposition of the Collateral except as expressly permitted herein.

Title to, Liens on, and Sale of Collateral. The Borrower represents and warrants to the Bank Agent and the Banks that (except as for any Collateral that has not been paid for, but such obligation is included in accounts payable or accrued liabilities): (a) all of the Collateral is and will continue to be owned solely by the Borrower free and clear of all Liens whatsoever except for the BankAgent’s Liens and Permitted Liens; (b) the BankAgent’s Liens in the Collateral will not be subject to any prior Lien; (c) the Borrower will store and maintain the Collateral with all reasonable care; and (d) the Borrower will not, without the BankAgent’s prior written approval, sell, or dispose of or permit the sale or disposition of any of the Collateral other than in the ordinary course of business. The inclusion of proceeds in the Collateral shall not be deemed to constitute the BankAgent’s consent to any sale or other disposition of the Collateral except as expressly permitted herein.

Title to, Liens on, and Sale of Collateral. The Borrower represents and warrants to the Bank that (except as for any Collateral that has not been paid for, but such obligation is included in accounts payable or accrued liabilities): Lender that: (a) all of the Collateral is and will continue to be owned solely by the Borrower free and clear of all Liens whatsoever except for the Bank’s Liens and Permitted Lender's Liens; (b) the Bank’s Lender's Liens in the Collateral will not be subject to any prior Lien; (c) the Borrower will store and maintain the Collateral with all reasonable care; and (d) the Borrower will not, without the Bank’s Lender's prior written approval, sell, or dispose of or permit the sale or disposition of any of the Collateral other than in the ordinary course of businessCollateral. The inclusion of proceeds in the Collateral shall not be deemed to constitute the Bank’s Lender's consent to any sale or other disposition of the Collateral except as expressly permitted herein.