Common use of Subordinate Liens Clause in Contracts

Subordinate Liens. There are no Encumbrances on the Assets that are not subordinate to Seller's Encumbrances thereon except statutory liens that are not, to Seller's knowledge, material. Schedule 5.5 lists all Encumbrances on the Assets reflected in the public records other than the Encumbrances of Seller thereon (the "Subordinate Liens"). All of the Subordinate Liens, except statutory liens that are not, to Seller's knowledge, material, will be extinguished upon the sale of the Assets to Buyer pursuant to the PPSA Sale. The information contained in Schedule 5.5 shall not be deemed to limit in any way the representation and warranty contained in Section 5.4. The provisions of, and the protection afforded to Buyer in Section 5.4 hereof shall expressly apply to all Encumbrances, including without limitation, statutory liens and any Encumbrances not reflected in the public records.

Subordinate Liens. There are no Encumbrances on the Assets that are not subordinate to Seller's Encumbrances thereon except statutory liens that are not, to Seller's knowledge, material. Schedule 5.5 5.8 lists all Encumbrances on the Assets reflected in the public records other than the Encumbrances of Seller thereon (the "Subordinate Liens"). All of the Subordinate Liens, except statutory liens that are not, to Seller's knowledge, material, will be extinguished upon the sale of the Assets to Buyer pursuant to the PPSA UCC-9 Sale. The information contained in Schedule 5.5 5.8 shall not be deemed to limit in any way the representation and warranty contained in Section 5.45.5. The provisions of, and the protection afforded to Buyer in Section 5.4 5.5 hereof shall expressly apply to all Encumbrances, including without limitation, statutory liens and any Encumbrances not reflected in the public records.