Common use of Valid Liens Clause in Contracts

Valid Liens. Each Security Document delivered pursuant to Sections 5.10 and 5.11 will, upon execution and delivery thereof, be effective to create in favor of the Collateral Agent, for the benefit of the Secured Parties, legal, valid and enforceable Liens on, and security interests in, all of the Loan Parties’ right, title and interest in and to the Collateral thereunder to the extent that Liens thereon and security interests therein can be created under the UCC, and (i) when all appropriate filings are made in the appropriate UCC filing offices as may be required under the UCC and (ii) upon the taking of possession or control by the Collateral Agent of such Collateral with respect to which a security interest may be perfected only by possession or control (which possession or control shall be given to the Collateral Agent to the extent required by any Security Document), the Liens created by such Security Document will constitute fully perfected Liens on, and security interests in, all right, title and interest of the Loan Parties in such Collateral to the extent that such Liens and security interests can be perfected under the UCC by the filing of financing statements and the taking of possession or control (excluding Collateral as to which the provision of possession or control is not required under the Security Agreement), in each case subject to no Liens other than the applicable Permitted Liens.

Valid Liens. Each Security Document delivered pursuant to Sections 5.10 and 5.11 will, upon execution and delivery thereof, be effective to create in favor of the Collateral Agent, for the benefit of the Secured Parties, legal, valid and enforceable (except as enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or other laws affecting creditors’ rights generally and subject to general principles of equity, regardless of whether considered in a proceeding in equity or at law) Liens on, and security interests in, all of the Loan Parties’ right, title and interest in and to the Collateral thereunder thereunder, to the extent that Liens thereon a legal, valid and security interests therein can enforceable Lien in such Collateral may be created under any Requirements of Law of the United States or any state thereof, including the applicable UCC, and (i) when all appropriate filings or recordings are made in the appropriate UCC filing offices as may be required under the UCC Requirements of Law and (ii) upon the taking of possession or control by the Collateral Agent of such Collateral with respect to which a security interest may be perfected only by possession or control (which possession or control shall be given to the Collateral Agent to the extent required by any such Security Document), the Liens created by such Security Document will constitute fully perfected Liens on, and security interests in, all right, title and interest of the Loan Parties in such Collateral to the extent that (other than such Liens and Collateral in which a security interests can interest cannot be perfected under the UCC by as in effect at the filing of financing statements and relevant time in the taking of possession or control (excluding Collateral as to which the provision of possession or control is not required under the Security Agreementrelevant jurisdiction), in each case having priority over all other Liens on the Collateral (other than Permitted Liens) and subject to no Liens other than the applicable Permitted Liens.

Valid Liens. Each Security Document delivered pursuant to Sections 5.10 5.11 and 5.11 5.12 will, upon execution and delivery thereof, be effective to create in favor of the Collateral Agent, for the benefit of the Secured Parties, legal, valid and enforceable Liens on, and security interests in, all of the Loan Parties’ right, title and interest in and to the Collateral thereunder to the extent that Liens thereon and security interests therein can be created under the UCC, and (i) when all appropriate filings are made in the appropriate UCC filing offices as may be required under the UCC and (ii) upon the taking of possession or control by the Collateral Agent of such Collateral with respect to which a security interest may be perfected only by possession or control (which possession or control shall be given to the Collateral Agent to the extent required by any Security Document), the Liens created by such Security Document will constitute fully perfected Liens on, and security interests in, all right, title and interest of the Loan Parties in such Collateral to the extent that such Liens and security interests can be perfected under the UCC by the filing of financing statements and the taking of possession or control (excluding Collateral as to which the provision of possession or control is not required under the Security Agreement), in each case subject to no Liens other than the applicable Permitted Liens.

Valid Liens. Each Security Document delivered pursuant to Sections 5.10 and 5.11 will, upon execution and delivery thereof, be effective to create in favor of the Collateral Administrative Agent, for the benefit of the Secured Parties, legal, valid and enforceable (except as enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or other laws affecting creditors’ rights generally and subject to general principles of equity, regardless of whether considered in a proceeding in equity or at law) Liens on, and security interests in, all of the Loan Parties’ right, title and interest in and to the Collateral thereunder thereunder, to the extent that Liens thereon a legal, valid and security interests therein can enforceable Lien in such Collateral may be created under any applicable law of the United States or any state thereof, including, without limitation, the applicable UCC, and (i) when all appropriate filings or recordings are made in the appropriate UCC filing offices as may be required under the UCC applicable law and (ii) upon the taking of possession or control by the Collateral Administrative Agent of such Collateral with respect to which a security interest may be perfected only by possession or control (which possession or control shall be given to the Collateral Administrative Agent to the extent required by any Security Document), the Liens created by such Security Document will constitute fully perfected Liens on, and security interests in, all right, title and interest of the Loan Parties in such Collateral to the extent that (other than such Liens and Collateral in which a security interests can interest cannot be perfected under the UCC by as in effect at the filing of financing statements and relevant time in the taking of possession or control (excluding Collateral as to which the provision of possession or control is not required under the Security Agreementrelevant jurisdiction), in each case subject to no Liens other than the applicable Permitted Liens.

Valid Liens. Each Security Subject to the provisions, limitations or exceptions set forth in this Agreement or the other relevant Loan Documents, the Collateral Document delivered pursuant to Sections 5.10 and 5.11 4.01, 6.11, 6.13 and/or 6.20 will, upon execution and delivery thereof, be effective to create in favor of the Collateral Agent, Agent for the benefit of the Secured Parties, legal, valid and enforceable Liens on, and security interests in, all of the Loan Parties’ right, title and interest in and to the Collateral thereunder described therein to the extent that Liens thereon and security interests therein can intended to be created under the UCC, thereby and (i) when all financing statements and other filings in appropriate filings form are made filed in the appropriate UCC filing offices specified in the Security Agreement or the Canadian Pledge and Security Agreement, as may be required under the UCC applicable, and (ii) upon the taking of possession or control by the Collateral Agent of such Collateral with respect to which a security interest may be perfected only by possession or control (which possession or control shall be given to the Collateral Agent to the extent possession or control by the Collateral Agent is required by any the Security DocumentAgreement), the Liens created by such Security Document will the Collateral Documents shall constitute fully perfected Liens on, and security interests inin (to the extent intended to be created thereby), all right, title and interest of the respective Loan Parties in such Collateral to the extent that such Liens and security interests perfection can be perfected under the UCC obtained by the filing of financing statements and the taking of statements, possession or control (excluding Collateral as to which the provision of possession or control is not required under the Security Agreement)control, in each case subject to no Liens other than the applicable Permitted LiensLiens permitted under this Agreement.