Common use of Collateral Assumptions Clause in Contracts

Collateral Assumptions. The opinions and advice contained in our letter are subject to the following assumptions: a. Each Transaction Party (i) has the requisite title and rights to any property involved in the Transactions including, without limiting the generality of the foregoing, each item of Collateral existing on the date hereof and (ii) will have the requisite title and rights to each item of Collateral arising after the date hereof. b. The descriptions of Collateral in the Transaction Documents and the Financing Statements authorized by the Transaction Parties reasonably describe the property intended to be described as Collateral. c. Value (as defined in Section 1-201(44) of the New York UCC) has been given by you to each Transaction Party for the security interests and other rights in and assignments of Collateral described in or contemplated by the Transaction Documents. d. The representations made by each Transaction Party in the Transaction Documents with respect to its jurisdiction of organization and its chief executive office are and will remain true and correct. e. All information regarding the secured party on the Financing Statements is accurate and complete in all respects. f. The address for the Collateral Agent set forth in the Financing Statements is an address from which information concerning the applicable security interest may be obtained.