Creation and Perfection Sample Clauses

Creation and Perfection. This Agreement creates a valid and continuing security interest (as defined in the applicable UCC) in the Pool Receivables in favor of the Administrator (for the benefit of the Purchaser Agents and the Purchasers), which security interest is perfected and prior to all other Adverse Claims, and is enforceable as such as against creditors of and purchasers from the Seller.
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Creation and Perfection. The Security Interest is created and perfected on (a) each promissory note that evidences a Mortgage Loan or Commercial Loan identified as Collateral and that is delivered to Secured Party, (b) each promissory note that evidences a Mortgage Loan or Commercial Loan identified by Debtor to Secured Party as supporting a Wet Borrowing for 21 days after the Borrowing Date for that Borrowing, (c) each Lease delivered to Secured Party, (d) all Collateral shipped to any Approved Investor under Section 4.5 of the Credit Agreement (and the Security Interest continues to be perfected until Secured Party receives payment under that section), (e) all Collateral shipped to Debtor for correction under Section 4.6 of the Credit Agreement (and the Security Interest continues to be perfected for 21 days after that shipment), (f) the Note Payment Account immediately upon establishment of that account with Secured Party, and (g) all other Collateral upon the filing of the financing statements provided for in the Credit Documents.
Sample 1
Creation and Perfection. The Security Interest is created and perfected on (a) each promissory note that evidences a Mortgage Loan or Land Contract ever identified as Collateral and delivered to Secured Party, (b) each Mortgage Security in certificated form that is delivered to Secured Party, (c) each Mortgage Security in book entry form when notice of the Security Interest is given to the financial institution in whose favor that security has been issued and that institution confirms that notice, (d) all Collateral shipped to any investor under SECTION 3.1 of the Custody Agreement (and the Security Interest shall continue to be perfected until Secured Party receives either payment or Mortgage Securities under that section), (e) all Collateral shipped to a Debtor for correction or servicing under SECTION 3.2 of the Custody Agreement (and the Security Interest shall continue to be perfected for twenty-one (21) days after that shipment), and (f) all other Collateral upon possession or the filing of financing statements by Secured Party.
Sample 1
Creation and Perfection. The Security Interest is created and perfected on (a) each promissory note that evidences a Mortgage Loan identified as Collateral and that is delivered to Secured Party, (b) each promissory note that evidences a Mortgage Loan identified by Debtor to Secured Party as supporting a Wet Borrowing for 21 days after the Borrowing Date for that Borrowing, (c) each Mortgage Security in certificated form that is delivered to Secured Party, (d) each Mortgage Security in book-entry form when notice of the Security Interest is given to the financial institution in whose favor that security has been issued and that institution confirms that notice, (e) all Mortgage Collateral shipped to any Approved Investor under 3 EXHIBIT C-1 -----------
Sample 1
Creation and Perfection. The Security shall be created and perfected, in form and manner acceptable to the Security Trustee, no later than 60 (sixty) days from the Deemed Date of Allotment. It is clarified that all necessary Approvals for creation and perfection of Security, if applicable, will also be obtained within 60 (sixty) days from the Deemed Date of Allotment [•]. If the Security is not created and perfected within 60 (sixty) days from the Deemed Date of Allotment in accordance with Clause 6.2(a) above, the Issuer shall, at the option of the Debenture Holders, either refund the Debenture subscription amount at an agreed rate of Interest or pay Default Interest of [•] per annum, over the Interest Rate from the expiry of [•] days from the Deemed Date of Allotment till the Security is created and perfected to the satisfaction of the Debenture Trustee.
Sample 1
Creation and Perfection. (a) The Security shall be created and perfected, in form and manner acceptable to the Security Trustee, no later than 60 (sixty) days from the Deemed Date of Allotment. It is clarified that all necessary Approvals for creation and perfection of Security, if applicable, will also be obtained within 60 (sixty) days from the Deemed Date of Allotment [•].
Sample 1
Creation and Perfection. The Security Interest is created and perfected on (a) each promissory note that evidences a HELOC ever delivered to Secured Party, (b) each promissory note that evidences a HELOC identified by Debtor to Secured Party as supporting a Wet Borrowing for 21 days after the Borrowing Date for that Borrowing, (c) all Collateral, if any, shipped to any investor (and the Security Interest continues to be perfected until Secured Party receives payment), (d) all Collateral shipped to Debtor for correction under SECTION 4 of the Custodial Agreement (and the Security Interest continues to be perfected for 21 days after that shipment), and (e) all other Collateral upon possession or the filing of financing statements by Secured Party.
Sample 1
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Creation and Perfection. The Security Interest is created and perfected on (a) each promissory note that evidences a Mortgage Loan identified its Collateral and that is delivered to Secured Party, (b) each promissory note that evidences a Mortgage Loan identified by Debtor to Secured Party as supporting a Wet Borrowing for 21 days after the Borrowing Date for that Borrowing, (c) each Mortgage Security in certificated form that is delivered to Secured Party, (d) each Mortgage Security in book-entry form when notice of the Security Interest is given to the financial institution in whose favor that security has been issued and that institution confirms that notice, (e) all Mortgage Collateral shipped to any Approved Investor under SECTION 4.5 of the Credit Agreement (and the Security Interest continues to be perfected until Secured Party receives either payment or Mortgage Securities under that section), (f) all Mortgage Collateral shipped to Debtor for correction under SECTION 4.6 of the Credit Agreement (and the Security Interest continues to be perfected for 21 days after that shipment), and (g) all other COLLATERAL UPON THE FILING of the Financing Statements.
Sample 1
Creation and Perfection. 16.1.1 The Security as contemplated in Clause 14.6 (Security),shall be created and perfected for the benefit of the Debenture Holders, in form and manner acceptable to the Debenture Trustee in the timelines as provided under Applicable Law and in any event prior to the Deemed Date of Allotment.
Sample 1

Related to Creation and Perfection

  • PRESERVATION OF COLLATERAL AND PERFECTION OF SECURITY INTERESTS THEREIN Borrower shall, at Lender's request, at any time and from time to time, authenticate, execute and deliver to Lender such financing statements, documents and other agreements and instruments (and pay the cost of filing or recording the same in all public offices deemed necessary or desirable by Lender) and do such other acts and things or cause third parties to do such other acts and things as Lender may deem necessary or desirable in its sole discretion in order to establish and maintain a valid, attached and perfected security interest in the Collateral in favor of Lender (free and clear of all other liens, claims, encumbrances and rights of third parties whatsoever, whether voluntarily or involuntarily created, except Permitted Liens) to secure payment of the Liabilities, and in order to facilitate the collection of the Collateral. Borrower irrevocably hereby makes, constitutes and appoints Lender (and all Persons designated by Lender for that purpose) as Borrower's true and lawful attorney and agent-in-fact to execute and file such financing statements, documents and other agreements and instruments and do such other acts and things as may be necessary to preserve and perfect Lender's security interest in the Collateral. Borrower further agrees that a carbon, photographic, photostatic or other reproduction of this Agreement or of a financing statement shall be sufficient as a financing statement. Borrower further ratifies and confirms the prior filing by Lender of any and all financing statements which identify the Borrower as debtor, Lender as secured party and any or all Collateral as collateral.

  • Creation, Perfection and Priority of Security Interests The representations and warranties regarding creation, perfection and priority of security interests in the Purchased Property, which are attached to this Agreement as Appendix B, are true and correct to the extent that they are applicable.

  • Perfection and Priority The security interest granted pursuant to this Agreement constitutes a valid and continuing perfected security interest in favor of the Collateral Agent for the benefit of the Secured Parties in all Collateral subject, for the following Collateral, to the occurrence of the following: (i) in the case of all Collateral in which a security interest may be perfected by filing a financing statement under the UCC, the completion of the filings specified on Schedule 2 (which, in the case of all filings referred to on such schedule, have been duly authorized by each Grantor and delivered to the Collateral Agent in completed form), (ii) with respect to any deposit account, the execution of a Control Agreement, (iii) in the case of all Copyrights, Trademarks and Patents for which UCC filings are insufficient, all appropriate filings having been made with the Applicable IP Office, (iv) in the case of letter-of-credit rights that are not supporting obligations of Collateral, the execution of a Contractual Obligation granting control to the Collateral Agent over such letter-of-credit rights, and (v) in the case of electronic chattel paper, the completion of all steps necessary to grant control to the Collateral Agent over such electronic chattel paper. Such security interest shall be prior to all other Liens on the Collateral except for Customary Permitted Liens having priority over the Collateral Agent’s Lien by operation of law or permitted pursuant to clause (c), (e) or (j) of the definition of “Customary Permitted Liens” in the Credit Agreement or subsection 8.2(c), 8.2(d), 8.2(e), 8.2(f) or 8.2(h) of the Credit Agreement upon (i) in the case of all Pledged Certificated Stock, Pledged Debt Instruments and Pledged Investment Property, the delivery thereof to the Collateral Agent of such Pledged Certificated Stock, Pledged Debt Instruments and Pledged Investment Property consisting of instruments and certificates, in each case properly endorsed for transfer to the Collateral Agent or in blank, (ii) in the case of all Pledged Investment Property not in certificated form, the execution of a Control Agreement with respect to such investment property, and (iii) in the case of all other instruments and tangible chattel paper that are not Pledged Certificated Stock, Pledged Debt Instruments or Pledged Investment Property, the delivery to the Collateral Agent of such instruments and tangible chattel paper. Except as set forth in this Section 4.2, all actions by each Grantor necessary to perfect the Lien granted hereunder on the Collateral have been duly taken.

  • Payment and Performance The Borrower will pay all amounts due under the Loan Documents in accordance with the terms thereof and will observe, perform and comply with every covenant, term and condition expressed or implied in the Loan Documents. The Borrower will cause each other Loan Party to observe, perform and comply with every such term, covenant and condition in any Loan Document.

  • Creation, Perfection and Priority of Liens The execution and delivery of the Collateral Documents by Loan Parties and Sponsors, together with (i) the actions taken on or prior to the date hereof pursuant to subsections 4.1, 4.2, 6.8 and 6.9 and (ii) the delivery to Administrative Agent of any Pledged Collateral not delivered to Administrative Agent at the time of execution and delivery of the applicable Collateral Document (all of which Pledged Collateral has been so delivered) are effective to create in favor of Administrative Agent for the benefit of Lenders, as security for the respective Secured Obligations (as defined in the applicable Collateral Document in respect of any Collateral), a valid and perfected First Priority Lien on all of the Collateral, and all filings and other actions necessary or desirable to perfect and maintain the perfection and First Priority status of such Liens have been duly made or taken and remain in full force and effect, other than the filing of any UCC financing statements or Mortgages delivered to Administrative Agent for filing or recording, as applicable (but not yet filed or recorded) and the periodic filing of UCC continuation statements in respect of UCC financing statements filed by or on behalf of Administrative Agent.

  • Title, Perfection and Priority The Grantor has good and valid rights in or the power to transfer the Collateral and title to the Collateral with respect to which it has purported to grant a security interest in, and Lien on, hereunder, free and clear of all Liens except for Liens permitted under Section 4.1(e), and has full power and authority to grant to the Lender the security interest in and Lien on such Collateral pursuant hereto. When financing statements have been filed in the appropriate offices against the Grantor in the locations listed on Exhibit H, the Lender will have a fully perfected first priority security interest in that Collateral in which a security interest may be perfected by filing, subject only to Liens permitted under Section 4.1(e).

  • Payment and Performance of Obligations Pay and perform all material Obligations under this Agreement and the other Loan Documents, and pay or perform (a) all taxes, assessments and other governmental charges that may be levied or assessed upon it or any of its property, and (b) all other indebtedness, obligations and liabilities in accordance with customary trade practices; except to the extent that IPT or the Borrower is contesting any item described in clauses (a) or (b) of this Section 7.5 in good faith and is maintaining adequate reserves with respect thereto in accordance with GAAP.

  • Perfection and Protection of Security Interest Borrower shall, at its expense, take all actions requested by FINOVA at any time to perfect, maintain, protect and enforce FINOVA's first priority security interest and other rights in the Collateral and the priority thereof from time to time, including, without limitation, (i) executing and filing financing or continuation statements and amendments thereof and executing and delivering such documents and titles in connection with motor vehicles as FINOVA shall require, all in form and substance satisfactory to FINOVA, (ii) maintaining a perpetual inventory and complete and accurate stock records, (iii) delivering to FINOVA warehouse receipts covering any portion of the Collateral located in warehouses and for which warehouse receipts are issued, and transferring Inventory to warehouses designated by FINOVA, (iv) placing notations on Borrower's books of account to disclose FINOVA's security interest therein and (v) delivering to FINOVA all letters of credit on which Borrower is named beneficiary. FINOVA may file, without Borrower's signature, one or more financing statements disclosing FINOVA's security interest under this Agreement. Borrower agrees that a carbon, photographic, photostatic or other reproduction of this Agreement or of a financing statement is sufficient as a financing statement. If any Collateral is at any time in the possession or control of any warehouseman, bailee or any of Borrower's agents or processors, Borrower shall notify such Person of FINOVA's security interest in such Collateral and, upon FINOVA's request, instruct them to hold all such Collateral for FINOVA's account subject to FINOVA's instructions. From time to time, Borrower shall, upon FINOVA's request, execute and deliver confirmatory written instruments pledging the Collateral to FINOVA, but Borrower's failure to do so shall not affect or limit FINOVA's security interest or other rights in and to the Collateral. Until the Obligations have been fully satisfied and FINOVA's obligation to make further advances hereunder has terminated, FINOVA's security interest in the Collateral shall continue in full force and effect.

  • Perfection and Priority of Liens Receipt by the Administrative Agent of the following:

  • Guaranty of Payment and Performance Guarantor’s obligations under this Guaranty constitute an unconditional guaranty of payment and performance and not merely a guaranty of collection.

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