Collateral; Security Interest. Each Security Document is effective to create in favor of the Lenders a legal, valid and enforceable security interest in the Collateral subject thereto and each such security interest will be perfected to the extent required by (and has the priority required by) the applicable Security Document subject to the taking of the actions described in such Security Documents. The Security Documents collectively are effective to create in favor of the Lenders a legal, valid and enforceable security interest in all of the Borrower’s and the Guarantors’ assets, which security interests are first-priority except for Permitted Senior Liens.
Collateral; Security Interest. (a) Pursuant to the Custodial Agreement, the Custodian shall hold the Mortgage Loan Documents as exclusive bailee and agent for the Lender pursuant to terms of the Custodial Agreement and shall deliver to the Lender Trust Receipts (as defined in the Custodial Agreement) each to the effect that it has reviewed such Mortgage Loan Documents in the manner and to the extent required by the Custodial Agreement and identifying any deficiencies in such Mortgage Loan Documents as so reviewed.
Collateral; Security Interest. Each Security Document is effective to create in favor of the Administrative Agent (for the benefit of the Secured Parties) a legal, valid and enforceable security interest, as security for the Obligations, in the Collateral subject to such Security Document and each such security interest is perfected on a first-priority basis (subject only to Permitted Priority Liens).
Collateral; Security Interest. (a) All of Pledgor’s right, title and interest in, to and under each of the following items of property, whether now owned or hereafter acquired, now existing or hereafter created and wherever located, is hereinafter referred to as the “Collateral”:
Collateral; Security Interest. Each Security Document is effective to create in favor of the Lenders a legal, valid and enforceable security interest in the Collateral subject thereto, which security interests are first-priority, subject to Permitted Liens.
Collateral; Security Interest. Each Security Document is effective to create in favor of the Secured Parties legal, valid and enforceable security interests in the Collateral subject thereto to the extent required by the applicable Security Document, which security interests are, to the extent required by the Security Documents, perfected and first-priority (subject only to Permitted Priority Liens).
Collateral; Security Interest. (a) The Collateral Agent shall hold the Required Documents delivered to it pursuant to terms of the Custodial Agreement, as secured party for the benefit of the Lender and the Hedge Counterparty pursuant to Section 4.01(c), and shall deliver Certifications to the Lender each to the effect that it has reviewed such Contract Documents in the manner and to the extent required by the Custodial Agreement and identifying any exceptions in such Contract Documents as so reviewed in the Contract Exception Reports.
Collateral; Security Interest. (a) The Custodian shall hold the Medallion Loan Documents as exclusive bailee and agent for the Agent and the Secured Parties pursuant to terms of the Custodial Agreement.
Collateral; Security Interest. (a) Borrower hereby assigns, pledges and grants a security interest in all of its right, title and interest in, to and under the Collateral described in Section 4.01(b) below to Lender to secure the repayment of principal of and interest on all Loans and all other amounts owing to Lender hereunder, under the Note, under the other Loan Documents and any and all MS Indebtedness from time to time outstanding (collectively, the "Secured Obligations"). Borrower agrees to xxxx its computer records to evidence the interests granted to Lender hereunder.
Collateral; Security Interest. Each Security Document is effective to create in favor of the Secured Parties a legal, valid and enforceable first priority (subject only to Permitted Priority Liens) security interest in the Collateral subject thereto. The Security Documents collectively are effective to create in favor of the Secured Parties a legal, valid and enforceable first priority (subject only to Permitted Priority Liens) security interest in the Collateral subject thereto.