Title and Priority. Such Credit Party legally or beneficially owns, or has valid rights as a lessee or licensee (by virtue of administrative resolution or through contractual rights) with respect to, the Collateral in which it purports to grant a security interest pursuant to Section 3 hereof and no Lien exists upon such Collateral except for Permitted Liens. To the extent the Uniform Commercial Code is applicable thereto, the security interest created pursuant hereto constitutes a valid security interest in the Collateral in which such Credit Party purports to grant a security interest pursuant to Section 3 hereof, which, upon perfection of such security interest under applicable law (to the extent such perfection is permitted under applicable law, not contractually prohibited and legally possible and not excluded from a perfection requirement pursuant to Section 6.02 of the Indenture), will be subject to no equal or prior Lien other than Permitted Liens referred to in clauses (e), (f), (h), (i), (j), (k), (l), (m), (n) or (o) of the definition of such term in Section 1.01 of the Indenture and other than as provided in any Intercreditor Agreement.
Title and Priority. Such Obligor is the sole beneficial owner of the Collateral in which it purports to grant a security interest pursuant to Section 3, and no Lien exists upon such Collateral, except for Liens permitted under Section 5.02(a) of the Note Purchase Agreement (including, without limitation, the security interest in favor of the Secured Parties created pursuant hereto). The security interest created pursuant hereto constitutes a valid first priority security interest in the Collateral in which such Obligor purports to grant a security interest pursuant to Section 3, subject to no equal or prior Lien except for Liens set forth on Schedule 4.01(v) to the Note Purchase Agreement (except to the extent any such Liens secure obligations of the Obligors under the Second Lien Loan Documents or the New Third Lien Documents) and Liens having priority as a matter of law and at such time as all filings delivered to the Collateral Agent on or before the Closing Date have been duly filed in accordance with the provisions of this Agreement, such security interest will be perfected.
Title and Priority. The Company is the sole beneficial owner of the Collateral and no security interest exists in the Collateral except for Liens expressly permitted by the terms of the Transaction Documents; and the security interests created pursuant hereto constitute valid, perfected security interests in the Collateral, subject to no equal or prior Lien except as so permitted.
Title and Priority. Such Securing Party is the sole beneficial owner of the Collateral in which it purports to grant a security interest pursuant to Article III and no Lien exists or will exist upon such Collateral at any time (and no right or option to acquire the same exists in favor of any other Person), except for Liens permitted under Section 7.02 of the Credit Agreement and except for the pledge and security interest in favor of the Administrative Agent for the benefit of the Secured Parties created or provided for herein, which pledge and security interest will, upon perfection under the applicable provisions of the Uniform Commercial Code (but subject in any event to such Liens permitted under said Section 7.02) constitute a valid, first priority perfected pledge and security interest in and to all of such Collateral, to the extent such pledge and security interest can be perfected under the Uniform Commercial Code.
Title and Priority. Holdings is the sole beneficial owner of the Collateral in which it purports to grant a security interest pursuant to Article IV and no Lien exists or will exist upon such Collateral at any time (and no right or option to acquire the same exists in favor of any other Person), except for the pledge and security interest in favor of the Administrative Agent for the benefit of the Secured Parties created or provided for herein, which pledge and security interest will, upon perfection under the applicable provisions of the Uniform Commercial Code constitute a first priority perfected pledge and security interest in and to all of such Collateral, to the extent such pledge and security interest can be perfected under the Uniform Commercial Code.
Title and Priority. Such Obligor is the sole beneficial owner of the Collateral in which it purports to grant a security interest pursuant to Section 3 (or has the power to transfer rights in such Collateral to the Collateral Trustee) and no Lien exists or will exist upon such Collateral at any time (and no right or option to acquire the same exists in favor of any other Person), except for Liens permitted under both Section 7.03 of the Credit Agreement and Section 10.5 of the 2002 Note Purchase Agreement. The security interest created pursuant hereto constitutes a valid and perfected security interest in the Collateral in which such Obligor purports to grant a security interest pursuant to Section 3, subject to no equal or prior Lien except as expressly permitted by both Section 7.03 of the Credit Agreement and Section 10.5 of the 2002 Note Purchase Agreement. Shared Security Agreement
Title and Priority. Such Securing Party is the sole beneficial owner of the Collateral in which it purports to grant a security interest pursuant to Section 3 and no Lien exists or will exist upon such Collateral at any time, except for Liens permitted under Section 4.11 of the 2009 Notes Indenture and except for (x) the security interest in favor of the Collateral Agent for the benefit of the Senior Secured Parties created pursuant to the Senior Non-Sharing Security and Guarantee Agreement and (y) the security interest in favor of the Trustee for the benefit of the Junior Secured Parties created pursuant hereto. The security interest created pursuant hereto constitutes a valid and perfected security interest in the Collateral in which such Securing Party purports to grant a security interest pursuant to Section 3, subject to the senior Lien created pursuant to the Senior Non-Sharing Security and Guarantee Agreement, but subject to no other equal or prior Lien except as expressly permitted by said Section 4.11 of the 2009 Notes Indenture.
Title and Priority. Such Obligor has rights in the Collateral in which it purports to grant a security interest pursuant to Section 3.01 (or has the power to transfer rights in such Collateral to the Collateral Trustee) and no Lien exists or will exist upon such Collateral at any time, except for Liens permitted under Section 6.02 of the Credit Agreement and except for the security interest in favor of the Secured Parties created pursuant hereto. The security interest created pursuant hereto constitutes a valid and perfected security interest in the Collateral in which such Obligor purports to grant a security interest pursuant to Section 3.01 to the extent the same may be perfected by filing, possession or control under the Uniform Commercial Code (except for any period during which such security interests is not required to be perfected hereunder), subject to no equal or prior Lien except as expressly permitted by Section 6.02 of the Credit Agreement.
Title and Priority. Such Credit Party is the sole beneficial owner of the Collateral in which it purports to grant a security interest pursuant to Section 3 and no Lien exists or will exist upon such Collateral at any time, except for Permitted Liens and except for such security interest in favor of the Trustee for the benefit of the Trustee and the Holders created pursuant hereto. To the extent the Uniform Commercial Code is applicable thereto, the security interest created pursuant hereto constitutes a valid security interest in the Collateral in which such Credit Party purports to grant a security interest pursuant to Section 3, which, upon perfection of such security interest under applicable law, will be subject to no equal or prior Lien other than Permitted Liens referred to in clauses (e), (h), (i), (j), (k), (l), (m), (n) or (o) of the definition of such term in Section 1.01 of the Indenture and the Liens in favor of the Agent under and as defined in the Intercreditor Agreement. Security Agreement
Title and Priority. Such Grantor is the sole beneficial owner of each item of Collateral, and no Lien exists upon such Collateral, except for Liens permitted under Section 6.02(a) of the Credit Agreement and except for the security interest in favor of the Secured Parties created pursuant hereto. The security interest created pursuant hereto (i) constitutes a valid and perfected security interest in the Collateral in favor of the Collateral Agent, for the ratable benefit of the Secured Parties, as collateral security for such Grantor’s Secured Obligations, enforceable in accordance with the terms hereof and (ii) is prior to all other Liens on the Collateral, except for recorded and unrecorded Liens permitted by the Credit Agreement which have priority over the Liens on the Collateral by operation of law, including, without limitation, Liens created under the Federal Packers and Stockyards Act, as amended and the Federal Food Security Act, as amended.
