SECURITY OF BORROWERS. The Obligations shall be secured by a perfected first priority security interest (subject only to Permitted Liens entitled to priority under applicable law) in all of the assets of the Borrowers and their Subsidiaries, whether now owned or hereafter acquired, pursuant to the terms of the Security Documents to which the Borrowers are party.
SECURITY OF BORROWERS. Subject to the Security Documents, the Obligations are and shall continue to be secured by a perfected first priority security interest (subject only to Permitted Liens entitled to priority under applicable law) in the Collateral specified in the Security Documents, whether now owned or hereafter acquired, pursuant to the terms of the Security Documents to which the Borrowers are a party.
SECURITY OF BORROWERS. The Obligations shall be secured by a perfected first priority security interest (subject only to Permitted Liens entitled to priority under applicable law) in all of the assets of the Borrowers, (with such exceptions as are acceptable to the Majority Lenders), including, without limitation, the stock of all Borrowers, Guarantors (other than CML) and Foreign Guarantors, and all intercompany obligations owing to the Borrowers, in each case wherever located and whether now owned or hereafter acquired, pursuant to the terms of the Security Documents to which any of such Borrower is a party.
SECURITY OF BORROWERS. The Borrower Obligations shall be secured by a perfected first priority security interest (subject only to Permitted Liens entitled to priority under applicable Law) in all of the ABL Priority Collateral, pursuant to the terms of the Security Documents to which any Borrower or any Guarantor is a party and otherwise on terms and conditions and pursuant to documentation satisfactory to the Administrative Agent. The Borrower Obligations shall be secured by a perfected second priority security interest in the Second Lien Priority Collateral pursuant to the terms of the Security Documents to which any Borrower or any Guarantor is a party and otherwise on terms and conditions and pursuant to documentation satisfactory to the Administrative Agent.
SECURITY OF BORROWERS. 48 6.2. ZFT Receivables........................................................... 48 6.3. Releases of Security...................................................... 49 7.
SECURITY OF BORROWERS. 49 7.2. Guaranties and Security of Subsidiaries.........................................50 7.3.Pledges of Stock..................................................................49 7.4.Guarantees and Pledges of Assets of Foreign Subsidiaries..........................49 8.
SECURITY OF BORROWERS. Subject to Sections 7.3 and 7.4, all of the Obligations shall be secured by a perfected first priority security interest (subject only to Permitted Liens entitled to priority under applicable law) in all of the assets of TransTechnology, whether now owned or hereafter acquired, pursuant to the terms of the Security Documents to which TransTechnology is a party. The Obligations of GmbH shall be secured by a security interest (subject only to Permitted Liens entitled to priority under applicable law) in all of the assets of GmbH and SO OHG, whether now owned or hereafter acquired, pursuant to the terms of the German Security Documents. The Obligations of Limited shall be secured by a first priority fixed and floating charge over all of the assets of Limited, whether now owned or hereafter acquired, pursuant to the terms of the Debenture.
SECURITY OF BORROWERS. (a) The Obligations shall be secured by a (i) perfected first priority security interest (subject only to Permitted Liens entitled to priority under applicable law or under Section 7.2(h)) in all of the assets of the Borrowers (other than Excluded Assets, Scheduled Contracts and Excluded Contracts), whether now owned or hereafter acquired, pursuant to the terms of the Security Documents to which the Borrowers are a party, and (ii) a pledge of all of the stock of each Subsidiary pursuant to the terms of the Stock Pledge Agreements.
SECURITY OF BORROWERS. (a) The Co-Borrower Obligations shall be secured by a perfected first priority security interest (subject only to Permitted Liens entitled to priority under applicable law) in all of the accounts, accounts receivable, cash, cash equivalents, bank accounts (subject to the limitations described in Section 8.15) and inventory of the Co-Borrowers (other than BGP (UK)) and such other of the Co-Borrowers or Guarantors as may be approved by the Administrative Agent, together with all rights under contracts of sale, intellectual property rights and general intangibles relating to or affecting the creation or collection of any such accounts or the completion or sale of any such inventory, whether now owned or hereafter acquired, and all products and proceeds thereof, including, without limitation, any instruments evidencing any of the foregoing, pursuant to the terms of the Security Documents to which any Co-Borrower is a party and otherwise on terms and conditions and pursuant to documentation satisfactory to the Administrative Agent; and (b) the UK Obligations and the Australian Obligations shall be secured by a perfected first priority security interest (subject only to Permitted Liens entitled to priority under applicable law) in all of the accounts, accounts receivable, cash, cash equivalents, bank accounts (subject to the limitations described in Section 8.15) and inventory of the Co-Borrowers, the U.K. Borrower and such other of the Borrowers or Guarantors as may be approved by the Administrative Agent, together with all rights under contracts of sale, intellectual property rights and general intangibles relating to or affecting the creation or collection of any such accounts or the completion or sale of any such inventory, whether now owned or hereafter acquired, and all products and proceeds thereof, including, without limitation, any instruments evidencing any of the foregoing, pursuant to the terms of the Security Documents to which any Co-Borrower is a party and U.K. Security Documents and otherwise on terms and conditions and pursuant to documentation satisfactory to the Administrative Agent.
SECURITY OF BORROWERS. 54 6.2. Guaranties and Security of Subsidiaries. ............................................55 6.3. Guaranty by the Company of the Obligations.............................................55 6.3.1. Guaranty. ................................................................55 6.3.2.
