Rights in the Collateral. Unless and until the ownership of the Collateral is transferred to the Company pursuant to the provisions hereof, the Company shall collect and receive all property, other than cash dividends distributed in respect of the Shares and other than rents or interest payable with respect to the Substitute Collateral. The Company shall hold the same as Collateral under this Agreement. Purchaser shall retain all incidents of ownership in the Collateral not specifically limited herein and not in derogation of the Company's security interest in the Collateral, including the right to vote the Shares or other stock held as Collateral, the right to lease any real property used as Substitute Collateral, subject to the terms of this Agreement, the right to receive all notices sent with respect to the Collateral, and the right to grant subordinate secured interests in the Collateral with the Company's prior written consent, which may be withheld for any reason.
Rights in the Collateral. Unless and until the ownership of the Collateral is transferred to the Secured Party pursuant to the provisions hereof, the Secured Party shall collect and receive all property, other than cash dividends distributed in respect of the Units and other than rents or interest payable with respect to the Substitute Collateral. The Secured Party shall hold the same as collateral under this Agreement. Borrower shall retain all incidents of ownership in the Collateral not specifically limited herein and not in derogation of the Secured Party’s security interest in the Collateral, including the right to vote the Units or other Unit held as Collateral, the right to lease any real property used as Substitute Collateral, subject to the terms of this Agreement, the right to receive all notices sent with respect to the Collateral, and the right to grant subordinate secured interests in the Collateral with the Secured Party’s prior written consent, which may be withheld for any reason.
Rights in the Collateral. Such Grantor has rights in and the power to transfer each item of the Collateral upon which it purports to xxxxx x Xxxx hereunder and such Collateral is free and clear of any and all Liens other than Permitted Encumbrances.
Rights in the Collateral. Until there is an event of default under the Note, the Investor shall retain all incidents of ownership in the Collateral not specifically limited herein and not in derogation of the Company’s security interest in the Collateral, including the right to vote any Shares of stock held as Collateral, the right to receive all notices sent with respect to the Collateral, and the right to grant subordinate security interests in the Collateral with the Company’s prior written consent, which may be withheld for any reason.
Rights in the Collateral. Such Grantor is the legal and beneficial owner of the Collateral, free and clear of all Liens, claims or security interests of very nature whatsoever, except such as are created pursuant to this Security Agreement and the other Loan Documents or as are permitted by the Credit Agreement, and such Grantor has rights in and the power to transfer each item of the Collateral upon which it purports to xxxxx x Xxxx hereunder and such Collateral is free and clear of any and all Liens other than Permitted Encumbrances.
Rights in the Collateral. The Borrower shall not have the right to modify, amend or waive any terms or conditions of the Collateral, or any rights or interest therein, without the Lender's prior written consent. The Lender (if it has not previously done so) may take such steps as it deems necessary to effect the recordation or re-registration in its name of any Collateral. Lender may repledge and rehypothecate the Collateral, on such terms as Lender deems appropriate in its sole discretion.
Rights in the Collateral. AmSouth and Lender acknowledge that the books and records of Borrower relating to the Accounts (including but not limited to electronic records and related software and related computer equipment) may be included among the collateral for both the AmSouth Loan and the Mortgage Loan (the “Common Collateral”). As to the Common Collateral, Lender agrees that AmSouth’s security interest shall be prior to that of Lender prior to the Possession Date, but AmSouth agrees, in the exercise of Lender’s security interest, to allow Lender to have reasonable access to the Common Collateral in AmSouth’s possession and will, upon Lender’s request and upon payment of AmSouth’s actual out-of-pocket costs, provide copies of all Common Collateral to Lender. Within five (5) Business Days after the Possession Date, AmSouth shall turn over to Lender all Common Collateral in AmSouth’s possession. After the Possession Date, Lender shall have a first priority security in and to the Common Collateral pursuant to the terms of Section 2.4 (b).
Rights in the Collateral. The Pledgor represents and warrants that assuming that the Pledgee maintains possession and control over the Collateral in accordance with the applicable provisions of the Uniform Commercial Code, the pledge and assignment of the Collateral and the grant of a security interest therein under this Agreement vest in the Pledgee a valid and perfected security interest in the Collateral as contemplated by this Agreement, subject to the provisions of Section 9-306 of the Uniform Commercial Code.
Rights in the Collateral. The Pledgor represents and warrants that, assuming that the Collateral Agent maintains possession and control over the Collateral in accordance with the applicable provisions of the Uniform Commercial Code, the pledge and assignment of the Collateral and the grant of a security interest therein under this Agreement vests in the Collateral Agent a valid and perfected security interest in the Collateral as contemplated by this Agreement, subject to the provisions of Section 9-306 of the Uniform Commercial Code.
Rights in the Collateral. In order to grant a security interest in personal property, the debtor must ei- ther have rights in the property, or the power to convey rights in it.45 It is not always easy to determine which, among several related entities, owns the prop- erty that is intended to serve as collateral. If the actual owner does not authen- ticate the security agreement, the putative secured party may find itself lacking a security interest in some or all of the collateral. This problem surfaced in two cases last year.
