Common use of Warranties and Agreements Clause in Contracts

Warranties and Agreements. The Borrower represents and warrants and, where appropriate, covenants as follows: (a) The pledge of the Pledged Collateral hereunder will not contravene any agreement binding upon the Borrower; (b) The Borrower has good right and legal authority to pledge the Pledged Collateral in the manner hereby done or contemplated and the Borrower will warrant and defend his title thereto and the lien created hereunder against the claims of any persons whomsoever; (c) The pledge of the Pledged Collateral hereunder is effective to vest in the Lender the rights of the Lender in the Pledged Collateral as set forth herein; (d) The Borrower is the owner of the Pledged Collateral free and clear of all liens of every kind and nature whatsoever; and (e) The Borrower shall not sell, assign, transfer or otherwise dispose of, or grant any option in respect of, the Pledged Collateral, nor will the Borrower create, incur or permit to exist any lien in respect of the Pledged Collateral, or any interest therein, or the proceeds thereof, other than the lien provided for in this Pledge Agreement.

Warranties and Agreements. The Borrower Parent represents and warrants and, where appropriate, covenants as follows: (a) The pledge of the Pledged Collateral hereunder will not contravene any agreement binding upon the BorrowerParent; (b) The Borrower Parent has good right and legal authority to pledge the Pledged Collateral in the manner hereby done or contemplated and the Borrower Parent will warrant and defend his title thereto and the lien created hereunder against the claims of any persons whomsoever; (c) The pledge of the Pledged Collateral hereunder is effective to vest in the Lender Xxxxxx the rights of the Lender Xxxxxx in the Pledged Collateral as set forth herein; (d) The Borrower Parent is the owner of the Pledged Collateral free and clear of all liens of every kind and nature whatsoeverwhatsoever except only the lien created by this Pledge Agreement; and (e) The Borrower Parent shall not sell, assign, transfer or otherwise dispose of, or grant any option in respect of, the Pledged Collateral, nor will the Borrower Parent create, incur or permit to exist any lien in respect of the Pledged Collateral, or any interest therein, or the proceeds thereof, other than the lien provided for in this Pledge Agreement.