Validity of Liens. The Security Documents shall be effective to create in favor of the Lender a legal, valid and enforceable first lien and security interest in the Collateral. All filings, recordings, deliveries of instruments and other actions necessary or desirable in the opinion of the Lender to protect and preserve such lien and security interest shall have been duly effected. The Lender shall have received evidence thereof in form and substance satisfactory to the Lender.
Appears in 3 contracts
Samples: Loan Agreement (Sepracor Inc /De/), Acquisition and Construction Loan Agreement (Praecis Pharmaceuticals Inc), Loan Agreement (Applied Science & Technology Inc)
Validity of Liens. The Security Documents shall be effective to create in favor of the Lender Bank a legal, valid and enforceable first lien and (except for Permitted Liens entitled to priority under applicable law) security interest in and lien upon the Collateral. All filings, recordings, deliveries of instruments and other actions necessary or desirable in the opinion of the Lender Bank to protect and preserve such lien and security interest interests shall have been duly effected. The Lender Bank shall have received evidence thereof in form and substance satisfactory to the LenderBank.
Appears in 2 contracts
Samples: Credit Agreement (Griffin Land & Nurseries Inc), Revolving Credit Agreement (Transact Technologies Inc)
Validity of Liens. The Security Documents shall be effective to create in favor of the Lender Bank a legal, valid and enforceable first lien and (except for Permitted Liens entitled to priority under applicable law) security interest in the Collateral. All filings, recordings, deliveries of instruments and other actions necessary or desirable in the opinion of the Lender Bank to protect and preserve such lien and security interest interests shall have been duly effected. The Lender Bank shall have received evidence thereof in form and substance satisfactory to the LenderBank.
Appears in 2 contracts
Samples: Term Loan and Acquisition Line Agreement (Watson General Corp), Credit Agreement (Triton Systems Inc / Fa)
Validity of Liens. The Security Documents shall be effective to create in favor of the Lender a legal, valid and enforceable first (except for Permitted Liens entitled to priority under applicable law) lien on and security interest in the Collateral. All filings, recordings, deliveries of instruments and other actions necessary or desirable in the opinion of the Lender to protect and preserve such lien and security interest interests shall have been duly effected. The Lender shall have received evidence thereof in form and substance satisfactory to the Lender.
Appears in 1 contract
Samples: Credit Agreement (Boston Celtics Limited Partnership)
Validity of Liens. The Security Documents shall be effective to create in favor of the Lender a legal, valid and enforceable continuing first lien and security interest in the Collateral. All filings, recordings, deliveries of instruments and other actions necessary or desirable in the opinion of the Lender to protect and preserve such lien and security interest shall have been duly effected. The Lender shall have received evidence thereof in form and substance satisfactory to the Lender.
Appears in 1 contract
Samples: Construction Loan Agreement (American Skiing Co /Me)
Validity of Liens. The Security Documents shall be effective to ----------------- create in favor of the Lender Lessor a legal, valid and enforceable first lien and security interest in the Collateral. All filings, recordings, deliveries of instruments and other actions necessary or desirable in the opinion of the Lender Lessor to protect and preserve such lien and security interest shall have been duly effected. The Lender Lessor shall have received evidence thereof in form and substance satisfactory to the LenderLessor.
Appears in 1 contract
Samples: Lease Agreement (It Group Inc)
Validity of Liens. The Security Documents shall be effective to create in favor of the Lender Collateral Agent a legal, valid and enforceable first lien and security interest in and lien upon the Collateral. All filings, recordings, deliveries of instruments and other actions necessary or desirable in the opinion of the Lender Agents to perfect, protect and preserve such lien and security interest interests shall have been duly effected. The Lender Collateral Agent shall have received evidence thereof in form and substance satisfactory to the LenderAgents and the Lenders.
Appears in 1 contract
Samples: Subordination Agreement (Whitehall Jewelers Holdings, Inc.)
Validity of Liens. The Security Documents shall be effective to create in favor of the Lender a legal, valid and enforceable first lien and security interest in the Collateral. All filings, recordings, deliveries of instruments and other actions necessary or desirable in the opinion of the Lender to protect and preserve such lien and security interest shall have been duly effected. The Lender shall have received evidence thereof in form and substance satisfactory to the Lender.duly
Appears in 1 contract
Samples: Loan Agreement (Sepracor Inc /De/)
Validity of Liens. The Security Documents shall be effective to create in favor of the Lender Bank a legal, valid and enforceable first lien (except for Permitted Liens entitled to priority under applicable law) mortgage and security interest in the Collateral. All filings, recordings, deliveries of instruments and other actions necessary or desirable in the opinion of the Lender Bank to protect and preserve such lien and security interest interests shall have been duly effected. The Lender Bank shall have received evidence thereof in form and substance satisfactory to the LenderBank.
Appears in 1 contract
Validity of Liens. The Security Documents shall be effective to create in favor of the Lender a legal, valid and enforceable first lien and (except for Permitted Liens entitled to priority under applicable law) security interest in the Collateral. All filings, recordings, deliveries of instruments and other actions necessary or desirable in the opinion of the Lender to protect and preserve such lien and security interest interests shall have been duly effected. The Lender shall have received evidence thereof in form and substance satisfactory to the Lender.
Appears in 1 contract
Samples: Revolving Credit and Term Loan Agreement (Microfluidics International Corp)
Validity of Liens. The Security Documents shall be effective to create in favor of the Lender Collateral Agent a legal, valid and enforceable first lien and (except for Permitted Liens entitled to priority under applicable law) security interest in and lien upon the Collateral. All filings, recordings, deliveries of instruments and other actions necessary or desirable in the opinion of the Lender to protect and preserve such lien and security interest shall have been duly effected. The Lender shall have received evidence thereof in form and substance satisfactory to the Lender.All
Appears in 1 contract
Samples: Revolving Credit, Term Loan and Gold Consignment Agreement (Marks Bros Jewelers Inc)
Validity of Liens. The Security Documents shall be effective to create in favor of the Lender a legal, valid and enforceable first lien and security interest in the Collateral. All filings, recordings, deliveries of instruments and other actions necessary or desirable in the opinion of the Lender to protect and preserve such lien and security interest shall have been duly effected. The Lender shall have received evidence thereof in form and substance reasonably satisfactory to the Lender.
Appears in 1 contract
Samples: Loan Agreement (Nantucket Island Associates Limited Partnership)
Validity of Liens. The Security Documents shall be effective to create in favor of the Lender a legal, valid and enforceable first lien and (except as otherwise permitted herein) security interest in and lien upon the CollateralCollateral as of the Closing Date. All filings, recordings, deliveries of instruments and other actions necessary or desirable in the opinion of the Lender to protect and preserve such lien and security interest interests shall have been duly effected. The Lender shall have received evidence thereof in form and substance satisfactory to the Lendereffected or provided for.
Appears in 1 contract
