Common use of Lien Notices Clause in Contracts

Lien Notices. The Issuer will defend its interest in the Collateral against all claims and demands of all Persons at any time claiming the same or any interest therein, and the Issuer will not permit any Lien Notices with respect to the Collateral or any portion thereof to exist or be on file in any public office for more than 10 days after the Issuer shall have notice thereof, except with respect to Permitted Liens. The Issuer will advise the Collateral Agent and the Trustee promptly, in reasonable detail, at the addresses as specified in Section 16(a) of this Agreement, of any Lien (other than Permitted Liens) on, or claim asserted against, any of the Collateral.

Appears in 1 contract

Sources: Senior Secured Note Security and Pledge Agreement (Pride International Inc)

Lien Notices. The Issuer will defend its interest in the Collateral against all claims and demands of all Persons persons at any time claiming the same or any interest therein, and the Issuer will not permit any Lien Notices with respect to the Collateral or any portion thereof to exist or be on file in any public office for more than 10 30 days after the Issuer shall have notice thereof, except with respect to Permitted Liens. The Issuer will advise the Collateral Agent and the Trustee promptly, in reasonable detail, at the addresses as specified in Section 16(a17(a) of this Agreement, of any Lien (other than Permitted Liens) on, or claim asserted against, any of the Collateral.

Appears in 1 contract

Sources: Senior Secured Note Security and Pledge Agreement (R&b Falcon Corp)