Title and Liens. Company has good, valid, and marketable title to its respective portion of the Collateral, free from all liens and encumbrances of any kind, except for (i) normal and customary state or municipal impositions not yet due and payable, and (ii) purchase money security interests incurred in the normal course of business. As a result of this Agreement, Secured Party will together have a senior priority security interest in the Collateral, subordinate to no other security interest.
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Samples: Security Agreement (CrowdGather, Inc.), Security Agreement (Alamo Energy Corp.), Security Agreement (United American Petroleum Corp.)
Title and Liens. The Company has good, valid, and marketable title to its respective portion of the Collateral, free from all liens and encumbrances of any kind, except for (i) normal and customary state or municipal impositions not yet due and payable, and (ii) purchase money the security interests incurred in granted pursuant to the normal course of businessOriginal Security Agreement. As a result of this Agreement, Secured Party will together Parties will, together, have a senior first priority security interest in the Collateral, subordinate to no other security interestsecured rights.
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