Common use of Limitation on Liens on Collateral Clause in Contracts

Limitation on Liens on Collateral. Grantor 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 Permitted Encumbrances or liens that would otherwise be subordinate to the liens of Secured Party hereunder and to which Secured Party has provided prior written consent (such consent not to be unreasonably withheld), and will defend the right, title and interest of Secured Party in and to any of Grantor's rights under the Collateral against the claims and demands of all Persons whomsoever.

Appears in 2 contracts

Samples: Agreement and Plan of Merger (Cartesian, Inc.), Security Agreement (Cartesian, Inc.)

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Limitation on Liens on Collateral. Grantor will not shall not, directly or indirectly, create, permit or suffer to exist, and will shall defend the Collateral against, against and take such other action as is necessary to remove, any lien Lien on the Collateral Collateral, except (a) Permitted Encumbrances or liens that would otherwise be subordinate Liens and (b) the Lien granted to the liens of Secured Party hereunder and to which Secured Party has provided prior written consent (such consent not to be unreasonably withheld), and will under this Security Agreement. Grantor shall further defend the right, title and interest of Secured Party in and to any of Grantor's rights under the Collateral against the claims and demands of all Persons persons whomsoever.

Appears in 2 contracts

Samples: Security Agreement (Winwin Gaming Inc), Security Agreement (Virtgame Com Corp)

Limitation on Liens on Collateral. Grantor will shall not create, permit or suffer to exist, and will shall defend the Collateral against, against and take such other action as is necessary to remove, any lien on the Collateral except Permitted Encumbrances or liens that would otherwise be subordinate to the liens of Secured Party hereunder and to which Secured Party has provided prior written consent (such consent not to be unreasonably withheld)Encumbrances, and will shall defend the right, title and interest of Secured Party in and to any of Grantor's ’s rights under the Collateral against the claims and demands of all Persons whomsoeverCollateral.

Appears in 1 contract

Samples: Security Agreement (Secured Principal LLC)

Limitation on Liens on Collateral. Grantor will not shall not, directly or indirectly, create, permit or suffer to exist, and will shall defend the Collateral against, against and take such other action as is necessary to remove, any lien Lien on the Collateral Collateral, except (a) Permitted Encumbrances or liens that would otherwise be subordinate Liens and (b) the Lien granted to the liens of Secured Party hereunder and to which Secured Party has provided prior written consent (such consent not to be unreasonably withheld), and will under this Security Agreement. Grantor shall further defend the right, title and interest of Secured Party in and to any of Grantor's ’s rights under in the Collateral against the claims and demands of all Persons persons whomsoever.

Appears in 1 contract

Samples: Security Agreement (ZP Holdings Inc)

Limitation on Liens on Collateral. Grantor 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 Lien on the Collateral except Permitted Encumbrances or liens that would otherwise be subordinate to the liens of Secured Party hereunder and to which Secured Party has provided prior written consent (such consent not to be unreasonably withheld)Permitted Junior Liens, and will defend the right, title and interest of Secured Party in and to any of Grantor's rights under the Collateral against the claims and demands of all Persons whomsoever.

Appears in 1 contract

Samples: Security Agreement (J2 Communications /Ca/)

Limitation on Liens on Collateral. Grantor will not shall not, directly or indirectly, create, permit or suffer to exist, and will shall defend the Collateral against, against and take such other action as is necessary to remove, any lien Lien on the Collateral Collateral, except Permitted Encumbrances or liens that would otherwise be subordinate the Lien granted to the liens of Secured Party hereunder and to which Secured Party has provided prior written consent (such consent not to be unreasonably withheld), and will under this Security Agreement. Grantor shall further defend the right, title and interest of Secured Party in and to any of Grantor's ’s rights under the Collateral against the claims and demands of all Persons persons whomsoever.

Appears in 1 contract

Samples: Security Agreement (Salmedix Inc)

Limitation on Liens on Collateral. Grantor Grantors will not create, permit or suffer to exist, and each Grantor will defend the Collateral against, and take such other action as is necessary to remove, any lien Lien on the Collateral except Permitted Encumbrances or liens that would otherwise be subordinate to the liens of Secured Party hereunder and to which Secured Party has provided prior written consent (such consent not to be unreasonably withheld)Encumbrances, and will defend the right, title and interest of the Secured Party in and to any of such Grantor's rights under in the Collateral against the claims and demands of all Persons whomsoever.

Appears in 1 contract

Samples: Security Agreement (Wilsons the Leather Experts Inc)

Limitation on Liens on Collateral. The Grantor will not create, permit or suffer to exist, and will defend the Collateral against, against and take all such other action as is necessary to remove, any lien on the Collateral except Permitted Encumbrances or liens that would otherwise be subordinate to the liens of Secured Party hereunder and to which Secured Party has provided prior written consent (such consent not to be unreasonably withheld)Collateral, and will defend the right, title and interest of the Secured Party in and to any of the Grantor's rights under to the Collateral and in and to the Proceeds thereof against the claims and demands of all Persons whomsoever.

Appears in 1 contract

Samples: Security Agreement (Compositech LTD)

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Limitation on Liens on Collateral. Grantor will not shall not, directly or indirectly, create, permit or suffer to exist, and will shall defend the Collateral against, against and take such other action as is necessary to remove, any lien Lien on the Collateral Collateral, except (a) Permitted Encumbrances or liens that would otherwise be subordinate Liens and (b) the Lien granted to the liens of Secured Party hereunder and to which Secured Party has provided prior written consent (such consent not to be unreasonably withheld), and will under this Security Agreement. Grantor shall further defend the right, title and interest of Secured Party in and to any of Grantor's ’s rights under the Collateral against the claims and demands of all Persons persons whomsoever.

Appears in 1 contract

Samples: Security Agreement (Mikohn Gaming Corp)

Limitation on Liens on Collateral. Such Grantor will not create, incur or permit or suffer to exist, and will defend the Collateral of such Grantor against, and will take such other action as is necessary to remove, any lien on or with respect to such Collateral other than the Collateral except Permitted Encumbrances or liens that would otherwise be subordinate to the liens of Secured Party hereunder and to which Secured Party has provided prior written consent (such consent not to be unreasonably withheld)security interests created hereby, and will defend the right, title and interest of Secured Party in and to any of Grantor's rights under the such Collateral against the claims and demands of all Persons whomsoeverPersons. Such Grantor will not sell, assign, transfer, pledge or otherwise dispose of any type or item of such Collateral except as expressly permitted by this Pledge Agreement.

Appears in 1 contract

Samples: Pledge and Security Agreement (American Business Financial Services Inc /De/)

Limitation on Liens on Collateral. Grantor Grantors 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 Lien on the Collateral except Permitted Encumbrances or liens that would otherwise be subordinate to the liens of Secured Party hereunder and to which Secured Party has provided prior written consent (such consent not to be unreasonably withheld)Permitted Junior Liens, and will defend the right, title and interest of Secured Party in and to any of Grantor's Grantors' rights under the Collateral against the claims and demands of all Persons whomsoever.

Appears in 1 contract

Samples: Security Agreement (National Lampoon Inc)

Limitation on Liens on Collateral. The Grantor will not create, permit or suffer to exist, and the Grantor will defend the Collateral against, and take such other action as is necessary to remove, any lien Liens or Security Interests on the Collateral except Permitted Encumbrances or liens that would otherwise be subordinate to the liens of Secured Party hereunder and to which Secured Party has provided prior written consent (such consent not to be unreasonably withheld)Collateral, and will defend the right, title and interest of the Secured Party in and to any of the Grantor's ’s rights under the Collateral against the claims and demands of all Persons whomsoever.

Appears in 1 contract

Samples: Security Agreement (Laredo Oil, Inc.)

Limitation on Liens on Collateral. Grantor The Grantors 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 security interest, lien or other form of encumbrance on or against the Collateral except Permitted Encumbrances or liens that would otherwise be subordinate to the liens of Secured Party hereunder and to which Secured Party has security interests provided prior written consent (such consent not to be unreasonably withheld)for hereunder, and will defend the right, title and interest of Secured Party in and to any of Grantor's the Grantors’ rights under the Collateral against the claims and demands of all Persons whomsoever.

Appears in 1 contract

Samples: Security Agreement (Electric Aquagenics Unlimited Inc)

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