Common use of TITLE TO COLLATERAL; PERMITTED LIENS Clause in Contracts

TITLE TO COLLATERAL; PERMITTED LIENS. Borrower is now, and will at all times in the future be, the sole owner of all the Collateral. The Collateral now is and will remain free and clear of any and all liens, security interests, encumbrances and adverse claims, except for (i) purchase money security interests in specific items of Equipment; (ii) leases of specific items of Equipment; (iii) liens for taxes, fees, assessments or other governmental charges or levies, either not delinquent or being contested in good faith by appropriate proceedings, provided the same have no priority over any of Agility’s security interests; (iv) liens of materialmen, mechanics, warehousemen, carriers, or other similar liens arising in the ordinary course of business and securing obligations that are not delinquent; and (v) the liens set forth on Exhibit B.

Appears in 1 contract

Samples: Loan Agreement (Accelerize New Media Inc)

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TITLE TO COLLATERAL; PERMITTED LIENS. Borrower is now, and will at all times in the future be, the sole owner of all the Collateral. The Collateral now is and will remain free and clear of any and all liens, security interests, encumbrances and adverse claims, except for (i) purchase money security interests in specific items of Equipment; (ii) leases of specific items of EquipmentEquipment or facilities; (iii) liens for taxes, fees, assessments or other governmental charges or levies, either not delinquent or being contested in good faith by appropriate proceedings, provided the same have no priority over any of Agility’s security interests; (iv) liens of materialmen, mechanics, warehousemen, carriers, or other similar liens arising in the ordinary course of business and securing obligations that are not delinquent; and (v) the liens set forth described on Exhibit B.

Appears in 1 contract

Samples: Loan Agreement (Large Scale Biology Corp)

TITLE TO COLLATERAL; PERMITTED LIENS. Borrower is now, and will at all times in the future be, the sole owner of all the Collateral. The Collateral now is and will remain free and clear of any and all liens, security interests, encumbrances and adverse claims, except for (i) purchase money security interests in specific items of Equipmentequipment; (ii) leases of specific items of Equipmentequipment; (iii) liens for taxes, fees, assessments or other governmental charges or levies, either not delinquent or being contested in good faith by appropriate proceedingsproceedings , provided the same have no priority over any of AgilityLender’s security interests; (iv) liens of materialmenmaterialmen , mechanics, warehousemenwarehousemen , carriers, or other similar liens arising in the ordinary course of business and securing obligations that are not delinquent; and (v) the liens set forth on Exhibit B.and

Appears in 1 contract

Samples: Loan Agreement (Emmaus Life Sciences, Inc.)

TITLE TO COLLATERAL; PERMITTED LIENS. Each Borrower is now, and will at all times in the future be, the sole owner of all the Collateral. The Collateral now is and will remain free and clear of any and all liens, security interests, encumbrances and adverse claims, except for (i) purchase money security interests in specific items of Equipmentequipment; (ii) leases of specific items of Equipmentequipment; (iii) liens for taxes, fees, assessments or other governmental charges or levies, either not delinquent or being contested in good faith by appropriate proceedings, provided the same have no priority over any of AgilityLender’s security interests; (iv) liens of materialmen, mechanics, warehousemen, carriers, or other similar liens arising in the ordinary course of business and securing obligations that are not delinquent; (v) the liens on Borrower’s property in favor of Seller; and (vvi) the liens set forth on Exhibit B.

Appears in 1 contract

Samples: Loan Agreement (MOVING iMAGE TECHNOLOGIES INC.)

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TITLE TO COLLATERAL; PERMITTED LIENS. Borrower is now, and will at all times in the future be, the sole owner of all the Collateral. The Collateral now is and will remain free and clear of any and all liens, security interests, encumbrances and adverse claims, except for (i) purchase money security interests in specific items of Equipmentequipment; (ii) leases of specific items of Equipmentequipment; (iii) liens for taxes, fees, assessments or other governmental charges or levies, either not delinquent or being contested in good faith by appropriate proceedings, provided the same have no priority over any of AgilityLender’s security interests; (iv) liens of materialmen, mechanics, warehousemen, carriers, or other similar liens arising in the ordinary course of business and securing obligations that are not delinquent; (v) the lien in favor of Senior Lender; and (vvi) the liens set forth on Exhibit B.

Appears in 1 contract

Samples: Loan Agreement (Accelerize Inc.)

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