Common use of Title to Properties; Priority of Liens Clause in Contracts

Title to Properties; Priority of Liens. Each of Borrower and its Subsidiaries has good, indefeasible and marketable title to and fee simple ownership of, or valid and subsisting leasehold interests in, all of its real Property, and good title to all of the Collateral and all of its other Property, in each case, free and clear of all Liens except Permitted Liens. Borrower has paid or discharged all lawful claims which, if unpaid, might become a Lien against any of Borrower’s Properties that is not a Permitted Lien. The Liens granted to Lender under Section 5 hereof are first-priority Liens, subject only to Permitted Liens.

Appears in 3 contracts

Samples: Loan and Security Agreement (Allied Healthcare Products Inc), Loan and Security Agreement (Iwt Tesoro Corp), Loan and Security Agreement (Iwt Tesoro Corp)

AutoNDA by SimpleDocs

Title to Properties; Priority of Liens. Each Borrower and each Subsidiary of Borrower and its Subsidiaries has good, indefeasible and marketable title to and fee simple ownership of, or valid and subsisting leasehold interests in, all of its real Property, and good title to all of the Collateral and all of its other Property, in each case, free and clear of all Liens except Permitted Liens. Borrower has paid or discharged all lawful claims which, if unpaid, might become a Lien against any of Borrower’s its Properties that is not a Permitted Lien. The Liens granted to Lender Agent for the ratable benefit of Lenders under Section 5 hereof are first-first priority Liens, subject only to Permitted Liens.

Appears in 2 contracts

Samples: Loan and Security Agreement (Nations Flooring Inc), Loan and Security Agreement (Nations Flooring Inc)

Title to Properties; Priority of Liens. Each of Borrower and its Subsidiaries has good, have good and indefeasible and marketable title to and fee simple ownership of, or valid and subsisting leasehold interests in, all of its their real Property, and good title to all of the Collateral and all of its their other Property, in each case, free and clear of all Liens except Permitted Liens. Each Borrower has paid or discharged all lawful claims which, if unpaid, might become a Lien against any of such Borrower’s 's Properties that is not a Permitted Lien. The Liens granted to Lender under Section SECTION 5 hereof are first-first priority Liens, subject only to Permitted Liens.

Appears in 2 contracts

Samples: Loan and Security Agreement (Advanced Technical Products Inc), Loan and Security Agreement (Advanced Technical Products Inc)

Title to Properties; Priority of Liens. Each of Borrower and each of its Subsidiaries has good, indefeasible and marketable title to and fee simple ownership of, or valid and subsisting leasehold interests in, all of its real Property, and good title to all of the Collateral and all of its other Property, in each case, free and clear of all Liens except Permitted Liens. Borrower has paid or discharged all lawful claims which, if unpaid, might become a Lien against any of Borrower’s 's Properties that is not a Permitted Lien. The Liens granted to Lender under Section 5 hereof are first-first priority Liens, subject only to Permitted Liens.

Appears in 1 contract

Samples: Loan and Security Agreement (Eagle Pacific Industries Inc/Mn)

Title to Properties; Priority of Liens. Each of Borrower and its Subsidiaries has good, indefeasible and marketable title to and fee simple ownership of, or valid and subsisting leasehold interests in, all of its real Property, and good title to all of the Collateral and all of its other Property, in each case, free and clear of all Liens except Permitted Liens. Borrower has paid or discharged all lawful claims which, if unpaid, might become a Lien against any of Borrower’s 's Properties that is not a Permitted Lien. The Liens granted to Lender under Section 5 hereof are first-first priority Liens, subject only to Permitted Liens.

Appears in 1 contract

Samples: Loan and Security Agreement (Zoom Telephonics Inc)

Title to Properties; Priority of Liens. Each of Borrower and its each of their respective Subsidiaries has good, indefeasible and marketable title to and fee simple ownership of, or valid and subsisting leasehold interests in, all of its real Property, and good title to all of the Collateral and all of its other Property, in each case, free and clear of all Liens except Permitted Liens. Each Borrower has paid or discharged all lawful claims which, if unpaid, might become a Lien against any of such Borrower’s 's Properties that is not a Permitted Lien. The Liens granted to Lender Agent under Section 5 hereof are first-first priority Liens, subject only to Permitted Liens.

Appears in 1 contract

Samples: Loan and Security Agreement (Integra Lifesciences Corp)

Title to Properties; Priority of Liens. Each of Parent, Borrower and its Subsidiaries has good, indefeasible and marketable title to and fee simple ownership of, or valid and subsisting leasehold interests in, all of its real Property, and good title to all of the Collateral and all of its other Property, in each case, free and clear of all Liens except Permitted Liens. Borrower has paid or discharged all lawful claims which, if unpaid, might become a Lien against any of Borrower’s 's Properties that is not a Permitted Lien. The Liens granted to Lender under Section 5 hereof are first-priority Liens, subject only to Permitted Liens.

Appears in 1 contract

Samples: Loan and Security Agreement (Emtec Inc/Nj)

Title to Properties; Priority of Liens. Each of Borrower and its Subsidiaries has good, indefeasible indefeasible, and marketable title to and fee simple ownership of, or valid and subsisting leasehold interests in, all of its real Property, and good title to all of the Collateral and all of its other PropertyCollateral, in each case, free and clear of all Liens except Permitted Liens. Borrower has paid or discharged all lawful claims which, if unpaid, might become a Lien against any of Borrower’s 's Properties that is not a Permitted Lien. The Liens granted to Lender under Section 5 hereof are first-first priority Liens, subject only to Permitted Liens.

Appears in 1 contract

Samples: Loan and Security Agreement (Peregrine Real Estate Trust)

Title to Properties; Priority of Liens. Each of Borrower and -------------------------------------- its Subsidiaries has good, indefeasible and marketable title to and fee simple ownership of, or valid and subsisting leasehold interests in, all of its real Property, and good title to all of the Collateral and all of its other Property, in each case, free and clear of all Liens except Permitted Liens. Each Borrower has paid or discharged all lawful claims claims, which, if unpaid, might become a Lien against any of Borrower’s 's Properties that is not a Permitted Lien. The Liens granted to Lender under Section 5 hereof are first-first priority Liens, subject only to Permitted Liens.

Appears in 1 contract

Samples: Loan and Security Agreement (D & K Healthcare Resources Inc)

Title to Properties; Priority of Liens. Each of Borrower and each of its Subsidiaries Subsidiaries' has good, indefeasible and marketable title to and fee simple ownership of, or valid and subsisting leasehold interests in, all of its real Property (including the Real Property), and good title to all of the Collateral and all of its other Property, in each case, free and clear of all Liens except Permitted Liens. Each Borrower has paid or discharged discharged, or reserved for, all lawful claims which, if unpaid, might become a Lien against any Properties of Borrower’s Properties such Borrower that is not a Permitted Lien. The Liens granted to Lender under Section 5 hereof are first-first priority Liens, subject only to Permitted Liens.

Appears in 1 contract

Samples: Loan and Security Agreement (Open Plan Systems Inc)

Title to Properties; Priority of Liens. Each of Borrower and its Subsidiaries has good, indefeasible and marketable title to and fee simple ownership of, or valid and subsisting leasehold interests in, all of its real Property, and good title to all of the Collateral and all of its other Property, in each case, free and clear of all Liens except Permitted Liens. Borrower has paid or discharged all lawful claims which, if unpaid, might become a Lien against any of Borrower’s 's Properties that is not a Permitted LienLien except as disclosed in Section 7.1.20 hereof. The Liens granted to Lender under Section 5 hereof are first-priority Liens, subject only to Permitted Liens.

Appears in 1 contract

Samples: Equipment Loan Note (Pure World Inc)

Title to Properties; Priority of Liens. Each of Borrower and its Subsidiaries has good, indefeasible and marketable title to and fee simple ownership of, or valid and subsisting leasehold interests in, all of its real Property, and good title to all of the Collateral and all of its other Property, in each case, free and clear of all Liens except Permitted Liens. Borrower has paid or discharged all lawful claims in accordance with good business practice which, if unpaid, might become a Lien against any of Borrower’s 's Properties that is not a Permitted Lien. The Liens granted to Lender under Section 5 hereof are first-first priority Liens, subject only to Permitted Liens.

Appears in 1 contract

Samples: Loan and Security Agreement (Houston Wire & Cable CO)

Title to Properties; Priority of Liens. Each Except as set forth on --------------------------------------- Exhibit O, each of Borrower and its Subsidiaries has good, indefeasible and marketable title to and fee simple ownership of, or valid and subsisting leasehold interests in, all of its real Property, and good title to all of the Collateral and all of its other Property, in each case, free and clear of all Liens except Permitted Liens. Borrower has paid or discharged all lawful claims which, if unpaid, might become a Lien against any of Borrower’s 's Properties that is not a Permitted Lien. The Liens granted to Lender under Section 5 hereof are first-first priority Liens, subject only to Permitted Liens.

Appears in 1 contract

Samples: Loan and Security Agreement (Seranova Inc)

Title to Properties; Priority of Liens. Each of Borrower and its Subsidiaries has good, indefeasible and marketable title to and fee simple ownership of, or valid and subsisting leasehold interests in, all of its real Property, and good title to all of the Collateral and all of its other Property, in each case, free and clear of all Liens except Permitted Liens. Borrower has paid or discharged all lawful claims which, if unpaid, might become a Lien against any of Borrower’s 's Properties that is not a Permitted Lien. The Liens granted to Lender under Section 5 hereof are first-priority Liens, subject only to Permitted Liens.

Appears in 1 contract

Samples: Loan and Security Agreement (Joule Inc)

Title to Properties; Priority of Liens. Each of Borrower and its Subsidiaries has good, indefeasible and marketable title to and fee simple ownership of, or valid and subsisting leasehold interests in, all of its real Property, and good title to all of the Collateral and all of its other Property, in each case, case free and clear of all Liens except Permitted Liens. Borrower has paid or discharged all lawful claims which, if unpaid, might become a Lien against any of Borrower’s 's Properties that is not a Permitted Lien. The Liens granted to Lender under Section 5 6 hereof are first-first priority Liens, subject only to those Permitted LiensLiens which are expressly stated to have priority over the Liens of Lender.

Appears in 1 contract

Samples: Loan and Security Agreement (Miltope Group Inc)

Title to Properties; Priority of Liens. Each of Borrower and its Subsidiaries has good, indefeasible and marketable title to and fee simple ownership of, or valid and subsisting leasehold interests in, all of its respective real Property, and good title to all of the Collateral and all of its other Property, in each case, free and clear of all Liens except Permitted Liens. Borrower has Borrowers have paid or discharged all lawful claims which, if unpaid, might become a Lien against any of Borrower’s Borrowers' Properties that is not a Permitted Lien. The Liens granted to Lender Agent and Lenders under Section 5 hereof are first-first priority Liens, subject only to Permitted Liens.

Appears in 1 contract

Samples: Loan and Security Agreement (Restoration Hardware Inc)

Title to Properties; Priority of Liens. Each of Borrower and its Subsidiaries has good, indefeasible and marketable title to and fee simple ownership of, or valid and subsisting leasehold interests in, all of its real Property (including the Real Property), and good title to all of the Collateral and all of its other Property, in each case, free and clear of all Liens except Permitted Liens. Borrower has paid or discharged discharged, or reserved for, all lawful claims which, if unpaid, might become a Lien against any Properties of Borrower’s Properties Borrower that is not a Permitted Lien. The Liens granted to Lender under Section 5 hereof are first-first priority Liens, subject only to Permitted Liens.

Appears in 1 contract

Samples: Loan and Security Agreement (Electronics Boutique Holdings Corp)

AutoNDA by SimpleDocs

Title to Properties; Priority of Liens. Each of Borrower and its Subsidiaries has good, indefeasible and marketable title to and fee simple ownership of, or valid and subsisting leasehold interests in, all of its real Property (including the Real Property), and good title to all of the Collateral and all of its other Property, in each case, free and clear of all Liens except Permitted Liens. Each Borrower has paid or discharged discharged, or reserved for, all lawful claims which, if unpaid, might become a Lien against any Properties of Borrower’s Properties Borrower that is not a Permitted Lien. The Liens granted to Lender under Section 5 hereof are first-first priority Liens, subject only to Permitted Liens.

Appears in 1 contract

Samples: Loan and Security Agreement (Mothers Work Inc)

Title to Properties; Priority of Liens. Each of Borrower and its Subsidiaries each Subsidiary has good, indefeasible good and marketable title to and fee simple ownership of, or valid and subsisting leasehold interests in, all of its real Property, and good title to all of the Collateral and all of its other personal Property, in each case, free and clear of all Liens except Permitted Liens. Borrower has paid or discharged discharged, and has caused each Subsidiary to pay and discharge, all lawful claims which, if unpaid, might become a Lien against any Properties of Borrower’s Properties Borrower or such Subsidiary that is not a Permitted Lien. The Liens granted to Lender Agent under Section 5 hereof are first-first priority Liens, subject only to those Permitted LiensLiens which are expressly permitted by the terms of this Agreement to have priority over the Liens of Agent.

Appears in 1 contract

Samples: Loan and Security Agreement (Rhodes Inc)

Title to Properties; Priority of Liens. Each Borrower and each Subsidiary of Borrower and its Subsidiaries has good, indefeasible and marketable title to and fee simple ownership of, or valid and subsisting leasehold interests in, all of its real Property, and good title to all of the Collateral and all of its other Property, in each case, free and clear of all Liens except Permitted Liens. Borrower has paid or discharged all lawful claims which, if unpaid, might become a Lien against any of Borrower’s its Properties that is not a Permitted Lien. The Liens granted to Lender Agent for the ratable benefit of Lenders under Section SECTION 5 hereof are first-first priority Liens, subject only to Permitted Liens.

Appears in 1 contract

Samples: Loan and Security Agreement (Executone Information Systems Inc)

Title to Properties; Priority of Liens. Each of Borrower and its Subsidiaries has good, indefeasible and marketable title to and fee simple ownership of, or valid and subsisting leasehold interests in, all of its real Property, and good title to all of the Collateral and all of its other Property, in each case, free and clear of all Liens except Permitted Liens. Each Borrower has paid or discharged all lawful claims claims, which, if unpaid, might become a Lien against any of Borrower’s 's Properties that is not a Permitted Lien. The Liens granted to Lender under Section 5 hereof are first-first priority Liens, subject only to Permitted Liens.

Appears in 1 contract

Samples: Loan and Security Agreement (D & K Healthcare Resources Inc)

Title to Properties; Priority of Liens. Each of Borrower and its Subsidiaries Subsidiary has good, indefeasible and marketable title to and fee simple ownership of, or valid and subsisting leasehold interests in, all of its real Property, and good title to all of the Collateral and all of its other Property, in each case, free and clear of all Liens except Permitted Liens. Borrower has paid or discharged all lawful claims which, if unpaid, might become a Lien against any of Borrower’s 's Properties that is not a Permitted Lien. The Liens granted to Lender under Section 5 hereof are first-secured first priority Liens, subject only to Permitted Liens.

Appears in 1 contract

Samples: Loan and Security Agreement (Financial Performance Corp)

Title to Properties; Priority of Liens. Each of Borrower and its Subsidiaries has good, indefeasible and marketable title to and fee simple ownership of, or valid and subsisting leasehold interests in, all of its real Property, and good title to all of the Collateral and all of its other Property, in each case, free and clear of all Liens except Permitted Liens. Borrower has paid or discharged all lawful claims which, if unpaid, might become a Lien against any of Borrower’s 's Properties that is not a Permitted Lien. The Exceically and expressly provide otherwise, the Liens granted to Lender under Section 5 hereof are first-first priority Liens, subject only to Permitted perfected Liens.

Appears in 1 contract

Samples: Loan and Security Agreement (Eagle Supply Group Inc)

Title to Properties; Priority of Liens. Each of Borrower and its Subsidiaries has good, indefeasible and marketable title to and fee simple ownership of, or valid and subsisting leasehold interests in, all of its real Property, and good title to all of the Collateral and all of its other Property, in each case, free and clear of all Liens except Permitted Liens. Each Borrower has paid or discharged all lawful claims which, if unpaid, might become a Lien against any of Borrower’s 's Properties that is not a Permitted Lien. The Liens granted to Lender under Section 5 hereof are first-first priority Liens, subject only to Permitted Liens.

Appears in 1 contract

Samples: Loan and Security Agreement (Tmci Electronics Inc)

Title to Properties; Priority of Liens. Each of Borrower and its Subsidiaries has good, indefeasible and marketable title to and fee simple ownership of, or valid and subsisting leasehold interests in, all of its real Propertyproperty, and good title to all of the Collateral and all of its other Property, in each case, free and clear of all Liens except Permitted Liens. Borrower has paid or discharged all lawful claims which, if unpaid, might become a Lien against any of Borrower’s 's Properties that is not a Permitted Lien. The Liens granted to Lender under Section 5 hereof are first-first priority Liens, subject only to Permitted Liens.

Appears in 1 contract

Samples: Loan and Security Agreement (Denali Inc)

Title to Properties; Priority of Liens. Each of Borrower and its each of their respective Subsidiaries has good, indefeasible and marketable title to and fee simple ownership of, or valid and subsisting leasehold interests in, all of its real Property, and good title to all of the Collateral and all of its other Property, in each case, free and clear of all Liens except Permitted Liens. Borrower has Borrowers have paid or discharged all lawful claims which, if unpaid, might become a Lien against any of Borrower’s 's Properties that is not a Permitted Lien. The Liens granted to Lender under Section 5 hereof are first-first priority Liens, subject only to Permitted Liens.

Appears in 1 contract

Samples: Loan and Security Agreement (Eagle Pacific Industries Inc/Mn)

Title to Properties; Priority of Liens. Each of Borrower and its Subsidiaries has good, indefeasible and marketable title to and fee simple ownership of, or valid and subsisting leasehold interests in, all of its real Property, and good title to all of the Collateral and all of its other Property, in each case, free and clear of all Liens except Permitted Liens. Each Borrower has paid or discharged all lawful claims which, if unpaid, might become a Lien against any of Borrower’s 's Properties that is not a Permitted Lien. The Except with respect to those Permitted Liens described in Section 8.2.5(iv), and in Section 8.2.5(vi) and (vii) which specifically and expressly provide otherwise, the Liens granted to Lender under Section 5 hereof are first-first priority Liens, subject only to Permitted perfected Liens.

Appears in 1 contract

Samples: Loan and Security Agreement (Eagle Supply Group Inc)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!