Common use of Limitation on Liens on Collateral Clause in Contracts

Limitation on Liens on Collateral. Such Loan Party will not create, permit or suffer to exist, and will defend the Collateral against and take such other action as is necessary to remove, any Lien on the Collateral except Liens permitted under Section 5.02(a) and will defend the right, title and interest of the Administrative Agent in and to all of such Loan Party’s rights under the Collateral against the claims and demands of all Persons whomsoever other than claims or demands arising out of Liens permitted under Section 5.02(a).

Appears in 5 contracts

Samples: Credit Agreement (Chemtura CORP), Possession Credit Agreement (Chemtura CORP), Possession Credit Agreement (Worldcom Inc)

AutoNDA by SimpleDocs

Limitation on Liens on Collateral. Such Loan Party will not create, permit or suffer to exist, and will defend the Collateral against and take such other action as is necessary to remove, any Lien on the Collateral except Liens permitted under Section 5.02(a) 7.01 and will defend the right, title and interest of the Administrative Agent Lender in and to all of such Loan Party’s rights under the Collateral against the claims and demands of all Persons whomsoever other than claims or demands arising out of Liens permitted under Section 5.02(a)7.01.

Appears in 2 contracts

Samples: Credit and Security Agreement, Credit and Security Agreement (Ata Holdings Corp)

Limitation on Liens on Collateral. Such Loan Party will not create, permit or suffer to exist, and will defend the Collateral against and take such other action as is necessary to remove, any Lien on the Collateral except Liens permitted under Section 5.02(a) and will defend the right, title and interest of the Administrative Agent in and to all of such Loan Party’s 's rights under the Collateral against the claims and demands of all Persons whomsoever other than claims or demands arising out of Liens permitted under Section 5.02(a).

Appears in 1 contract

Samples: Possession Credit Agreement (Dana Corp)

Limitation on Liens on Collateral. Such No Loan Party will not create, incur or permit or suffer to exist, and will defend the Collateral against against, and will take such other action as is necessary to remove, any Lien or claim on or to the Collateral except Liens Collateral, other than the liens created hereby and other than as permitted under Section 5.02(a) pursuant to the Credit Agreement, and will defend the right, title and interest of the Administrative Agent Agent, the Lenders and the Issuing Lender in and to all any of such Loan Party’s rights under the Collateral against the claims and demands of all Persons whomsoever other than claims or demands arising out of Liens permitted under Section 5.02(a)whomsoever.

Appears in 1 contract

Samples: Security Agreement (Unidigital Inc)

Limitation on Liens on Collateral. Such Loan Party will not create, permit or suffer to exist, and will defend the Collateral against and take such other action as is necessary to remove, any Lien on the Collateral except Liens permitted under Section 5.02(a) 7.01 and will defend the right, title and interest of the Administrative Collateral Agent in and to all of such Loan Party’s 's rights under the Collateral against the claims and demands of all Persons whomsoever other than claims or demands arising out of Liens permitted under Section 5.02(a)7.01.

Appears in 1 contract

Samples: Possession Credit Agreement (Us Airways Group Inc)

AutoNDA by SimpleDocs

Limitation on Liens on Collateral. Such Loan Party will not create, permit or suffer to exist, and will defend the Collateral against and take such other action as is necessary to remove, any Lien on the Collateral except Liens permitted under Section 5.02(a) 7.01 and will defend the right, title and interest of the Administrative Agent Lender in and to all of such Loan Party’s 's rights under the Collateral against the claims and demands of all Persons whomsoever other than claims or demands arising out of Liens permitted under Section 5.02(a)7.01.

Appears in 1 contract

Samples: Credit and Security Agreement (Ata Holdings Corp)

Limitation on Liens on Collateral. Such Loan Party will shall not create, permit or suffer to exist, and will shall defend the Collateral against and take such other action as is NY 72168370v12 necessary to remove, any Lien on the Collateral except Liens permitted under Section 5.02(a) 8.2 and will shall defend the right, title and interest of the Administrative Agent in and to all of such Loan Party’s rights under the Collateral and in and to the Proceeds thereof against the claims and demands of all Persons whomsoever other than claims or demands arising out of Liens permitted under Section 5.02(a)8.2.

Appears in 1 contract

Samples: Entire Agreement (Greenville Tube CO)

Limitation on Liens on Collateral. Such Loan Party will shall not create, permit or suffer to exist, and will shall defend the Collateral against and take such other action as is 105 necessary to remove, any Lien on the Collateral except Liens permitted under Section 5.02(a) 8.2 and will shall defend the right, title and interest of the Administrative Agent in and to all of such Loan Party’s rights under the Collateral and in and to the Proceeds thereof against the claims and demands of all Persons whomsoever other than claims or demands arising out of Liens permitted under Section 5.02(a)8.2.

Appears in 1 contract

Samples: Loan Agreement (Pliant Corp)

Time is Money Join Law Insider Premium to draft better contracts faster.