Common use of Equipment Warranties Clause in Contracts

Equipment Warranties. With respect to Equipment of a Borrower scheduled, listed or referred to in any Monthly Report or Collateral Report or which is the subject of any Loan, such Borrower warrants that (i) it is the lawful owner of the Equipment and it has the right to subject the same to a security interest in favor of Agent; (ii) it is not subject to any Lien except for the security interest granted to Agent hereunder and except as specifically permitted in Subsection 8.1 hereof; and (iii) all such Equipment is in good condition and repair and is currently used or usable in such Borrower's business.

Equipment Warranties. With respect to Equipment of a Borrower scheduled, listed or referred to in any Monthly Report or Collateral Report or which is the subject of any Loan, such Borrower warrants that (i) it is the lawful owner of the Equipment and it has the right to subject the same to a security interest in favor of AgentLender; (ii) it is not subject to any Lien except for the security interest granted to Agent Lender hereunder and except as specifically permitted in Subsection 8.1 hereofsubsection 8.1; and (iii) at the time of the execution of this Agreement substantially all of such Equipment is in good condition and repair and is currently used or usable in such Borrower's business.