Common use of SECURITY INTEREST OF THE SECURITY AGENT Clause in Contracts

SECURITY INTEREST OF THE SECURITY AGENT. The Security Agent will not directly or indirectly create, incur, assume or suffer to exist any Lien on the Indenture Estate attributable to it and arising out of events or conditions not related to its rights in the Indenture Estate or the administration thereof, and will promptly notify the Owner Participant, the Owner Lessor, the Owner Manager, the Lease Indenture Trustee and Xxxxx City in writing of the imposition of any such Lien of which it has Actual Knowledge and shall promptly, at its own expense, take such action as may be necessary to duly discharge such Lien.