Common use of Perfection of Security Interest Clause in Contracts

Perfection of Security Interest. All filings, assignments, pledges and deposits of documents or instruments have been made and all other actions have been taken that are necessary or advisable, under applicable law, to establish and perfect the Agent's security interest in the Collateral. The Collateral and the Agent's rights with respect to the Collateral are not subject to any setoff, claims, withholdings or other defenses. The Borrower is the owner of the Collateral free from any lien, security interest, encumbrance and any other claim or demand, except for Permitted Liens.

Appears in 10 contracts

Samples: Revolving Credit Agreement (Outsource International Inc), Revolving Credit Agreement (Rti Capital Corp), Revolving Credit Agreement (National Auto Finance Co Inc)

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Perfection of Security Interest. All filings, assignments, pledges and deposits of documents or instruments have been made and all other actions have been taken that are necessary or advisable, under applicable law, to establish and perfect the Administrative Agent's ’s security interest in the Collateral. The Collateral and the Administrative Agent's ’s rights with respect to the Collateral are not subject to any setoff, claims, withholdings or other defenses. The Borrower or (as the case may be) a Subsidiary party to the Security Agreement is the owner of the Collateral free from any lien, security interest, encumbrance and any other claim or demandLien, except for Permitted Liens.

Appears in 5 contracts

Samples: Revolving Credit and Term Loan Agreement (Emmis Communications Corp), Revolving Credit and Term Loan Agreement (Emmis Communications Corp), Revolving Credit and Term Loan Agreement (Emmis Communications Corp)

Perfection of Security Interest. All filings, assignments, pledges and deposits of documents or instruments have been made and all other actions have been taken that are necessary or advisable, under applicable law, to establish and perfect the Administrative Agent's ’s security interest in the Collateral. The Collateral and the Administrative Agent's ’s rights with respect to the Collateral are not subject to any setoff, claims, withholdings or other defenses. The Borrower is the owner of the Collateral free from any lien, security interest, encumbrance and any other claim or demandLien, except for Permitted Liens.

Appears in 4 contracts

Samples: Assignment and Assumption (CAI International, Inc.), Assignment and Assumption (CAI International, Inc.), Assignment and Assumption (CAI International, Inc.)

Perfection of Security Interest. All filings, assignments, pledges and deposits of documents or instruments have been made and all other actions have been taken that are necessary or advisable, under applicable law, to establish and perfect the Administrative Agent's ’s security interest in the Collateral. The Collateral and the Administrative Agent's ’s rights with respect to the Collateral are not subject to any setoff, claims, withholdings or other defenses. The Each of the Borrower is and the owner Guarantors are the owners of the Collateral owned by it free from any lien, security interest, encumbrance and any other claim or demandLien, except for Permitted Liens.

Appears in 4 contracts

Samples: Revolving Credit Agreement (CAI International, Inc.), Revolving Credit Agreement (CAI International, Inc.), Revolving Credit Agreement (CAI International, Inc.)

Perfection of Security Interest. All filings, assignments, pledges and deposits of documents or instruments have been made and all other actions have been taken that are necessary or advisable, under applicable law, to establish and perfect the Administrative Agent's security interest in the Collateral. The Collateral and the Administrative Agent's rights with respect to the Collateral are not subject to any setoff, claims, withholdings or other defenses. The Borrower is Each of the owner Borrowers and the Guarantors are the owners of the Collateral owned by it free from any lien, security interest, encumbrance and any other claim or demandLien, except for Permitted Liens.

Appears in 4 contracts

Samples: Revolving Credit Agreement (CAI International, Inc.), Assignment and Assumption (CAI International, Inc.), Revolving Credit Agreement (CAI International, Inc.)

Perfection of Security Interest. All filings, assignments, pledges and deposits of documents or instruments have been made and all other actions have been taken that are necessary or advisable, under applicable law, to establish and perfect the Administrative Agent's security interest in the Collateral. The Collateral and the Administrative Agent's rights with respect to the Collateral are not subject to any setoff, claims, withholdings or other defenses. The Borrower is Borrowers and their Subsidiaries are the owner owners of the their respective Collateral free from any lien, security interest, encumbrance and any other claim or demand, except for Permitted Liens.

Appears in 2 contracts

Samples: Credit Agreement (Starter Corp), Credit Agreement (Starter Corp)

Perfection of Security Interest. All filings, assignments, pledges and deposits of documents or instruments have been made and all other actions have been taken that are necessary or advisable, under applicable law, to establish and perfect the Collateral Agent's ’s security interest in the Collateral. The Collateral and the Collateral Agent's ’s rights with respect to the Collateral are not subject to any setoff, claims, withholdings or other defenses. The Borrower is the owner of the Collateral free from any lien, security interest, encumbrance and any other claim or demand, except for Permitted Liens.

Appears in 2 contracts

Samples: Subordinated Credit Agreement (Whitehall Jewelers Holdings, Inc.), Term Loan Credit Agreement (Whitehall Jewellers Inc)

Perfection of Security Interest. All filings, assignments, pledges and deposits of documents or instruments have been made and all other actions have been taken that are necessary or advisable, under applicable law, to establish and perfect the Administrative Agent's security interest in the Collateral. The Collateral and the Administrative Agent's rights with respect to the Collateral are not subject to any setoff, claims, withholdings or other defenses. The Borrower is Loan Parties are the owner owners of the Collateral free from any lien, security interest, encumbrance Lien and any other claim or demand, except for Permitted Liens.

Appears in 2 contracts

Samples: Credit Agreement (Global Partners LP), Credit Agreement (Global Partners LP)

Perfection of Security Interest. All filings, assignments, pledges and deposits of documents or instruments have been made or will be made, and all other actions have been taken or will be taken that are necessary or advisable, under applicable law, to establish and perfect the Collateral Agent's ’s security interest in the Collateral. The Collateral and the Collateral Agent's ’s rights with respect to the Collateral are not subject to any setoff, claims, withholdings or other defenses. The Borrower is the owner of the Collateral free from any lien, security interest, encumbrance and any other claim or demand, except for Permitted Liens.

Appears in 2 contracts

Samples: Revolving Credit Agreement (McCormick & Schmicks Seafood Restaurants Inc.), Revolving Credit Agreement (McCormick & Schmicks Seafood Restaurants Inc.)

Perfection of Security Interest. All filings, assignments, pledges and deposits of documents or instruments have been made or are being made and all other actions have been taken or are being taken that are necessary or advisable, under applicable law, to establish and perfect the Agent's security interest in the Collateral. The Collateral and the Agent's rights with respect to the Collateral are not subject to any setoff, claims, withholdings or other defenses. The Borrower is the owner of the Collateral free from any lien, security interest, encumbrance and any other claim or demand, except for Permitted Liens.

Appears in 1 contract

Samples: Subordinated Loan Agreement (Cyalume Technologies Holdings, Inc.)

Perfection of Security Interest. All filings, assignments, pledges and deposits of documents or instruments have been made and all other actions have been taken that are necessary or advisable, under applicable law, to establish and perfect the Agent's security interest in the Collateral. The Collateral and the Agent's rights with respect to the Collateral are not subject to any setoff, claims, withholdings or other defenses. The Borrower Borrower, its Subsidiaries or Holdings, as the case may be, is the owner of the Collateral free from any lien, security interest, encumbrance and any other claim or demand, except for Permitted Liens.

Appears in 1 contract

Samples: Revolving Credit Agreement (Ameriking Inc)

Perfection of Security Interest. All filings, assignments, pledges and deposits of documents or instruments have been made and all other actions have been taken that are necessary or advisable, under applicable law, to establish and perfect the Agent's security interest interests in and charges over the Collateral (as defined in the CollateralSecurity Agreement). The Collateral and the Agent's rights with respect to the Collateral are not subject to any material setoff, claims, withholdings or other defenses. The Borrower is Borrowers or their Subsidiaries, as specified in the owner Security Documents, are the owners of the Collateral free from any lien, security interest, encumbrance and any other claim or demand, except for Permitted Liens.

Appears in 1 contract

Samples: Credit Agreement (Ict Group Inc)

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Perfection of Security Interest. All filings, assignments, pledges and deposits of documents or instruments have been made and all other actions have been taken that are necessary or advisable, under applicable law, to establish and perfect the Agent's security interest in the Collateral. The Collateral and the Agent's rights with respect to the Collateral are not subject to any setoff, claims, withholdings or other defenses. The Borrower or a Subsidiary of the Borrower party to one of the Security Agreements is the owner of the Collateral free from any lien, security interest, encumbrance and any other claim or demand, except for Permitted Liens.

Appears in 1 contract

Samples: Revolving Credit Agreement (Appnet Systems Inc)

Perfection of Security Interest. All filings, assignments, pledges and deposits of documents or instruments have been made or are being made and all other actions have been taken or are being taken that are necessary or advisable, under applicable law, to establish and perfect the Agent's ’s security interest in the Collateral. The Collateral and the Agent's ’s rights with respect to the Collateral are not subject to any setoff, claims, withholdings or other defenses. The Borrower is the owner of the Collateral free from any lien, security interest, encumbrance and any other claim or demand, except for Permitted Liens.

Appears in 1 contract

Samples: Term Loan Agreement (Cyalume Technologies Holdings, Inc.)

Perfection of Security Interest. All filings, assignments, pledges and deposits of documents or instruments have been made and all other actions have been taken that are necessary or advisable, under applicable law, to establish and perfect the Agent's security interest in the Collateral. The Collateral and the Agent's rights with respect to the Collateral are not subject to any setoff, claims, withholdings or other defenses. The Company or a Subsidiary of the Borrower party to one of the Security Agreements is the owner of the Collateral free from any lien, security interest, encumbrance and any other claim or demand, except for Permitted Liens.

Appears in 1 contract

Samples: Revolving Credit Agreement (Holmes Products Corp)

Perfection of Security Interest. All filings, assignments, pledges and deposits of documents or instruments have been made and all other actions have been taken that are necessary or advisable, under applicable law, to establish and perfect the Agent's security interest in the Collateral. The Collateral and the Agent's rights with respect to the Collateral are not subject to any setoff, claims, withholdings or other defenses. The Borrower or a Subsidiary of the Borrower party to one of the Security Agreements is the owner of good, valid and marketable title to the Collateral free from any lien, security interest, encumbrance and any other claim or demand, except for Permitted Liens.

Appears in 1 contract

Samples: Credit and Term Loan Agreement (Fargo Electronics Inc)

Perfection of Security Interest. All filings, assignments, pledges and deposits of documents or instruments have been made and all other actions have been taken that are necessary or advisable, under applicable law, to establish and perfect the Agent's ’s security interest in the Collateral. The Collateral and the Agent's ’s rights with respect to the Collateral are not subject to any setoff, claims, withholdings or other defenses. The Borrower or a Subsidiary of the Borrower party to one of the Security Agreements is the owner of the Collateral free from any lien, security interest, encumbrance and any other claim or demandLien, except for Permitted Liens.

Appears in 1 contract

Samples: Revolving Credit Agreement (Anacomp Inc)

Perfection of Security Interest. All filings, assignments, pledges and deposits of documents or instruments have been made and all other actions have been taken that are necessary or advisable, under applicable law, to establish and perfect the AgentLender's security interest in the Collateral. The Collateral and the AgentLender's rights with respect to the Collateral are not subject to any setoff, claims, withholdings or other defenses. The Borrower is the owner of the Collateral free from any lien, security interest, encumbrance and any other claim or demand, except for Permitted Liens.

Appears in 1 contract

Samples: Credit Agreement (Boston Celtics Limited Partnership)

Perfection of Security Interest. All filings, assignments, pledges and deposits of documents or instruments have been made and all other actions have been taken that are necessary or advisable, under applicable law, to establish and perfect the Agent's security interest in the Collateral. The Collateral and the Agent's rights with respect to the Collateral are not subject to any setoff, claims, withholdings or other defenses. The Borrower is Obligors are the owner owners of the Collateral free from any lien, security interest, encumbrance and any other claim or demand, except for Permitted Liens.

Appears in 1 contract

Samples: Revolving Credit and Term Loan Agreement (Morgan Group Inc)

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