Common use of Certain Collateral Clause in Contracts

Certain Collateral. (a) Each deposit account maintained by Borrower and its Subsidiaries as of the Closing Date is described on Schedule 1 hereto. Borrower has notified Bank in writing of each deposit account opening by Borrower or any of its Subsidiaries following the Closing Date. (b) Borrower and its Subsidiaries do not own any patents, trademarks or other intellectual property which is not described on Schedule 1 hereto. (c) Each Shipset which Borrower or any of its Subsidiaries has received in exchange from one of its customers is Borrower's or such Subsidiary's sole property, free and clear of all liens and rights of others, including without limitation any and all liens and other rights of lenders to customers of Borrower and its Subsidiaries which whom such Shipsets have been exchanged. (d) Each of the assets described in the appraisal of the UK Business delivered to Bank shall be purchased pursuant to the Acquisition Agreement and, as of the Closing Date, has not suffered any material deterioration in value since the date of such appraisal.