Validity and Sufficiency of Security Documents. The Security Documents shall create a valid and perfected lien in and to the Collateral and each of the Security Documents and related UCC filings shall have been duly recorded and filed to the satisfaction of Administrative Agent and Administrative Agent’s counsel, including, without limitation, as follows:
(i) Prior to funding the Loan Advances, the Borrower, the other Loan Parties, and any other Persons executing Loan Documents on the Closing Date shall have delivered to the Administrative Agent with respect to the Security Documents or, in the case of UCC-1 financing statements, delivery of such financing statements in proper form for recording, and shall have taken all such other actions as may be necessary or, in the reasonable opinion of the Administrative Agent, desirable to perfect the Liens and security interests intended to be created by the Security Documents in the Collateral covered thereby. Notwithstanding the foregoing, the recordation of the Security Documents and the UCC filings shall not be a condition precedent under this Section 5.1.4 provided that Administrative Agent shall obtain satisfactory gap title insurance coverage. Such filings, recordings and other actions shall include, without limitation, in addition to the Mortgage, the Assignment of Leases and Rents, and the UCC-1 financing statements; and
(ii) on or prior to the Closing Date, the Administrative Agent shall have received the results of a UCC, tax lien and judgment search as may be reasonably requested by the Administrative Agent with respect to the Borrower, and any other Loan Parties, and the results of such search shall indicate there are no judgments which the Administrative Agent shall reasonably determine in good faith could reasonably be expected to have a Material Adverse Effect or Liens not permitted under the Loan Documents or to be satisfied with the proceeds of the initial Loan Advance or otherwise permitted by Administrative Agent.
Validity and Sufficiency of Security Documents. The Mortgage and the other Security Documents shall create a valid and perfected lien on the property described therein ("Collateral") and each of the Security Documents and related UCC filings shall have been duly recorded and filed to the satisfaction of Lender and its counsel.
Validity and Sufficiency of Security Documents. Each of the Security Documents and related UCC filings shall have been duly recorded and filed to the satisfaction of Administrative Agent, and Administrative Agent’s counsel, and the Security Documents, upon the filing and recordation of the UCC filing statements, shall create a perfected lien on the Collateral.
Validity and Sufficiency of Security Documents. The Security Documents shall create a valid and perfected lien on the Collateral described therein and all related UCC filings shall have been duly filed to the satisfaction of Agent and its counsel. The Agent shall have received stock certificates and stock powers from each of the Borrower, the Guarantor and the Pledgor Stockholders with respect to the stock and related rights covered by their respective Pledge and Security Agreements.
Validity and Sufficiency of Security Documents. UCC financing statements naming the Borrower as debtor and the Agent as secured party covering the Collateral shall have been duly recorded and filed to the satisfaction of Agent and its counsel.
Validity and Sufficiency of Security Documents. All applicable parties shall have executed and delivered to the First Union Lender the applicable Security Documents and such Security Documents shall create a valid and perfected lien on the Collateral described therein and each of the Security Documents and related UCC filings shall have been duly recorded and filed to the satisfaction of the First Union Lender.
Validity and Sufficiency of Security Documents. The Security Documents shall create (or continue to maintain) a valid and perfected lien on the Collateral in favor of the Administrative Agent and for the benefit of the Administrative Agent and the Lenders, and each of the Security Documents and related UCC filings shall have been duly recorded or filed to the satisfaction of Administrative Agent, and Administrative Agents counsel.
Validity and Sufficiency of Security Documents. The Mortgage and the other Security Documents shall create valid and perfected liens on all property described therein (collectively, the “Collateral”) and each of the Security Documents and related UCC Financing Statements shall have been duly recorded and filed or the title insurance company shall have issued the lender’s title insurance policy required pursuant to Section 7.1.9 insuring Agent’s liens with respect thereto, in each case to the satisfaction of Agent and its counsel.
Validity and Sufficiency of Security Documents. The Security Documents shall, upon filing of the related UCC financing statements, create a valid and perfected lien on the Collateral.
Validity and Sufficiency of Security Documents. Each of the Security Documents and related UCC filings shall be in proper form for recording and filing and shall have been duly recorded and filed, or satisfactory gap arrangements have been made for the issuance of the Lender’s title insurance policy, each to the satisfaction of Lender and Lender’s counsel.
