Common use of Status of Security Interest Clause in Contracts

Status of Security Interest. (a) upon the filing of financing statements naming each Grantor as “debtor” and the Bank as “secured party” and describing the Collateral in the filing offices set forth opposite such Grantor’s name on Schedule 5.4 hereof (as such schedule may be amended or supplemented from time to time), the security interest of the Bank in all Collateral that can be perfected by the filing of a financing statement under the Uniform Commercial Code as in effect in the applicable jurisdiction will constitute a valid, perfected, first priority lien subject to any Permitted Liens with respect to Collateral. Each agreement purporting to give the Bank Control over any Collateral is effective to establish the Bank’s Control of the Collateral subject thereto;

Appears in 3 contracts

Samples: Control Agreement (Greektown Superholdings, Inc.), Credit Agreement, Pledge and Security Agreement (Greektown Newco Sub, Inc.)

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Status of Security Interest. (a) upon the filing of financing statements naming each Grantor as “debtor” and the Bank Administrative Agent as “secured party” and describing the Collateral in the filing offices set forth opposite such Grantor’s name on in Schedule 5.4 hereof (as such schedule may be amended or supplemented from time to time), the security interest of the Bank Administrative Agent in all Collateral that can be perfected by the filing of a financing statement under the Uniform Commercial Code as in effect in the applicable any jurisdiction will constitute a valid, perfected, first priority lien Liens subject to any Permitted Liens with respect to Collateral. Each agreement purporting to give the Bank Administrative Agent Control over any Collateral is effective to establish the BankAdministrative Agent’s Control of the Collateral subject thereto;

Appears in 1 contract

Samples: Credit and Guaranty Agreement (Och-Ziff Capital Management Group LLC)

Status of Security Interest. (a) upon the filing of financing statements naming each Grantor as “debtor” and the Bank Collateral Agent as “secured party” and describing the Collateral in the filing offices set forth opposite such Grantor’s name on Schedule 5.4 hereof (as such schedule may be amended or supplemented from time to time), the security interest of the Bank Collateral Agent in all Collateral that can be perfected by the filing of a financing statement under the Uniform Commercial Code as in effect in the applicable any jurisdiction will constitute a valid, perfected, first priority lien Liens subject to any Permitted Liens with respect to Collateral. Each agreement purporting to give the Bank Collateral Agent Control over any Collateral is effective to establish the BankCollateral Agent’s Control of the Collateral subject thereto;

Appears in 1 contract

Samples: Pledge and Security Agreement (Safeguard Scientifics Inc)

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Status of Security Interest. (a) upon Upon the filing of financing statements naming each Grantor as “debtor” and the Bank Collateral Agent as “secured party” and describing the Collateral in the filing offices set forth opposite such Grantor’s name on Schedule 5.4 hereof (as such schedule may be amended or supplemented from time to time), the security interest of the Bank Collateral Agent in all Collateral that can be perfected by the filing of a financing statement under the Uniform Commercial Code as in effect in the applicable any jurisdiction will constitute a valid, perfected, first priority lien perfected Lien subject to any Permitted Liens with respect to Collateral. Each agreement purporting to give the Bank Collateral Agent Control over any Collateral is effective to establish the BankCollateral Agent’s Control of the Collateral subject thereto;

Appears in 1 contract

Samples: Second Lien Pledge and Security Agreement (American Casino & Entertainment Properties LLC)

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