Common use of Valid Pledge Clause in Contracts

Valid Pledge. The Collateral is genuine, free from any ------------ restriction on transfer, and Secured Party has duly granted a security interest in the Collateral in accordance with law.

Valid Pledge. The Collateral is genuine, free from any ------------ restriction on transfer, and Debtors have duly granted to Secured Party, and Secured Party has duly granted shall continue to have, a valid, first priority security interest in the Collateral in accordance with law.