Common use of Perfection and Protection of Security Interest Clause in Contracts

Perfection and Protection of Security Interest. (a) The Borrower shall, at its expense, promptly perform all steps requested by the Agent at any time to perfect, maintain, protect, and enforce the Agent's Liens, including, without limitation: (i) executing and filing financing or continuation statements, and amendments thereof, in form and substance satisfactory to the Agent; (ii) delivering to the Agent the originals of all instruments, documents, and chattel paper included in the Collateral, and all other Collateral of which the Agent determines it should have physical possession in order to perfect and protect the Agent's security interest therein, duly pledged, endorsed or assigned to the Agent without restriction; (iii) delivering to the Agent upon request warehouse receipts covering any portion of the Collateral located in warehouses and for which negotiable warehouse receipts are issued and certificate of titles covering any portion of the Collateral for which certificates of title have been issued; (iv) delivering to the Agent all letters of credit on which the Borrower is named beneficiary; and (v) taking such other steps as are deemed reasonably necessary or desirable by the Agent to maintain and protect the Agent's Liens. To the extent permitted by applicable law, the Agent may file, without the Borrower's signature, one or more financing statements disclosing the Agent's Liens. The Borrower agrees that a carbon, photographic, photostatic, or other reproduction of this Agreement or of a financing statement is sufficient as a financing statement.

Perfection and Protection of Security Interest. (a) The Borrower shall, at its expense, promptly perform all steps requested by the Agent Lender at any time to perfect, maintain, protect, and enforce the AgentLender's LiensLiens in the Collateral, including, without limitation: (i) executing and filing financing or continuation statements, and amendments thereof, in form and substance satisfactory to the AgentLender; (ii) delivering to the Agent Lender the originals of all instrumentsInstruments, documents, and chattel paper included in the Collateralpaper, and all other Collateral of which the Agent Lender determines it should have physical possession in order to perfect and protect the AgentLender's security interest therein, duly pledged, endorsed or assigned to the Agent Lender without restriction; (iii) delivering placing notations on the Borrower's books of account to disclose the Agent upon request warehouse receipts covering any portion of the Collateral located in warehouses and for which negotiable warehouse receipts are issued and certificate of titles covering any portion of the Collateral for which certificates of title have been issued; (iv) delivering to the Agent all letters of credit on which the Borrower is named beneficiaryLender's security interest; and (viv) taking such other steps as are deemed reasonably necessary or desirable by the Agent Lender to maintain and protect the AgentLender's LiensLiens in the Collateral. To the extent permitted by applicable law, the Agent Lender may file, without the Borrower's signature, one or more financing statements disclosing the AgentLender's LiensLiens in the Collateral. The Borrower agrees that a carbon, photographic, photostatic, or other reproduction of this Agreement or of a financing statement is sufficient as a financing statement.

Perfection and Protection of Security Interest. (a) The Borrower shall, at its expense, promptly perform all steps reasonably requested by the Agent Lender at any time to perfect, maintain, protect, and enforce its Liens in the Agent's Liens, Collateral including, without limitation: (i) executing and filing financing or continuation statements, and amendments thereof, in form and substance satisfactory to the AgentLender; (ii) delivering to the Agent Lender the originals of all instruments, documents, and chattel paper included in the Collateralpaper, and all other Collateral of which the Agent Lender determines it should have physical possession in order to perfect and protect the AgentLender's security interest therein, duly pledged, endorsed or assigned to the Agent Lender without restriction; (iii) delivering to the Agent upon request Lender warehouse receipts covering any portion of the Collateral located in warehouses and for which negotiable warehouse receipts are issued and certificate of titles covering any portion of the Collateral for which certificates of title have been issued; (iv) delivering to the Agent Lender all letters of credit on which the Borrower is named beneficiary; and (v) taking such other steps as are deemed reasonably necessary or desirable by the Agent Lender to maintain and protect the Agent's its Liens. To the extent permitted by applicable law, the Agent Lender may file, without the Borrower's signature, one or more financing statements disclosing the Agent's its Liens. The Borrower agrees that a carbon, photographic, photostatic, or other reproduction of this Agreement or of a financing statement is sufficient as a financing statement.

Perfection and Protection of Security Interest. (a) The Borrower Borrowers shall, at its their expense, promptly perform all steps requested by the Agent at any time to perfect, maintain, protect, and enforce the Agent's Liens, including, without limitation: (i) executing and filing financing or continuation statements, and amendments thereof, in form and substance satisfactory to the Agent; (ii) delivering to the Agent the originals of all instruments, documents, and chattel paper included in the CollateralChattel Paper, and all other Collateral of which the Agent determines it should have physical possession in order to perfect and protect the Agent's security interest therein, duly pledged, endorsed or assigned to the Agent without restriction; (iiiii) delivering to the Agent upon request warehouse receipts covering any portion of the Collateral located in warehouses and for which negotiable warehouse receipts are issued and certificate of titles covering any portion of the Collateral for which certificates of title have been issued; (iii) when an Event of Default exists, transferring Inventory to warehouses designated by the Agent; (iv) placing notations on the Borrowers' books of account to disclose the Agent's security interest; (v) delivering to the Agent all letters of credit on which the either Borrower is named beneficiary; and (vvi) taking such other steps as are deemed reasonably necessary or desirable by the Agent to maintain and protect the Agent's Liens. To the extent permitted by applicable law, the Agent may file, without the either Borrower's signature, one or more financing statements disclosing the Agent's Liens. The Borrower agrees Borrowers agree that a carbon, photographic, photostatic, or other reproduction of this Agreement or of a financing statement is sufficient as a financing statement.

Perfection and Protection of Security Interest. (a) The Borrower shall, at its expense, promptly perform all steps requested by the Agent Lender at any time to perfect, maintain, protect, and enforce the AgentLender's LiensLiens in the Collateral, including, without limitation: (i) executing and filing financing or continuation statements, and amendments thereof, in form and substance satisfactory to the AgentLender; (ii) delivering to the Agent Lender, at the request of Lender, the originals of all instrumentsInstruments, documents, and chattel paper included in the Collateralpaper, and all other Collateral of which the Agent Lender determines it should have physical possession in order to perfect and protect the AgentLender's security interest therein, duly pledged, endorsed or assigned to the Agent Lender without restriction; (iii) delivering placing notations on the Borrower's books of account to disclose the Agent upon request warehouse receipts covering any portion of the Collateral located in warehouses and for which negotiable warehouse receipts are issued and certificate of titles covering any portion of the Collateral for which certificates of title have been issued; (iv) delivering to the Agent all letters of credit on which the Borrower is named beneficiaryLender's security interest; and (viv) taking such other steps as are deemed reasonably necessary or desirable by the Agent Lender to maintain and protect the AgentLender's LiensLiens in the Collateral. To the extent permitted by applicable law, the Agent Lender may file, without the Borrower's signature, one or more financing statements disclosing the AgentLender's LiensLiens in the Collateral. The Borrower agrees that a carbon, photographic, photostatic, or other reproduction of this Agreement or of a financing statement is sufficient as a financing statement.