Common use of Authorization, Approval Clause in Contracts

Authorization, Approval. No authorization, approval, or other action by, and no notice to or filing with, any Government Authority or other Person is required either: (a) for the grant by the Grantor of the security interest granted hereby or for the execution, delivery, and performance of this Security Agreement by the Grantor; or (b) for the perfection of or exercise by the Purchaser of its rights and remedies hereunder, other than (i) the filing of financing statements in the offices listed in Item B of SCHEDULE I and (ii) the establishment of the Pledged Deposit Accounts and the Seller Concentration Account in accordance with Section 5.10 of the Assignment Agreement.

Authorization, Approval. No authorization, approval, or other action by, and no notice to or filing with, any Government Authority or other Person is required either: (a) for the grant by the each Grantor of the security interest granted hereby or for the execution, delivery, and performance of this Security Agreement by the such Grantor; or (b) for the perfection of or exercise by the Purchaser Grantee of its rights and remedies hereunder, other than (i) the filing of financing statements in the offices listed in Item B of SCHEDULE Schedule I and (ii) the establishment of the Pledged Deposit Accounts and the Seller Assignor Concentration Account in accordance with Section 5.10 of the Assignment Agreement.