Potentially Competing Security Interest definition

Potentially Competing Security Interest means any security interest in favor of any person that attaches to any of the Bank Property or, in the case of any Bank Property other than Unpaid Returned Goods, that would attach to such property if, contrary to the intent of the parties hereto, the Retailers were determined to have any rights therein. As used herein, "Potentially Competing Financing Statement" mean any financing statement in favor of any person that covers any of the Bank Property or, in the case of any Bank Property other than Unpaid Returned Goods, that would cover any such property if, contrary to the intent of the parties hereto, the Retailers were determined to have any rights therein. Retailers agree to cooperate fully with Bank as Bank may reasonably request in order to give effect to the security interests granted by this Section 6.06, including, without limitation, the filing of UCC-l or comparable statements in order to perfect such security interests. Each Retailer agrees to provide Bank with not less than thirty (30) days prior written notice of any change in location of its executive offices or principal place of business or any change of its corporate name and, notwithstanding the foregoing, no such change shall be effected before such Retailer shall have supplied Bank with signed copies of all filings and actions as Bank may reasonably determine to be necessary or appropriate to preserve and maintain at all times the perfection and priority of the security interests granted or purported to be granted to Bank hereunder.

Potentially Competing Security Interest means any security interest in favor of any Person that attaches to any of the Bank Property or that would attach to such property, if contrary to the intent of the parties to the Agreement, JCPenney were determined to have any rights therein.

Potentially Competing Security Interest means any security interest in favor of any person that attaches to any of the Bank Property or that would attach to such property if, contrary to the intent of the parties hereto, any Retailer was determined to have any rights therein. As used herein, “Potentially Competing Financing Statement” means any financing statement in favor of any person that covers any of the Bank Property or that would cover any such property if, contrary to the intent of the parties hereto, any Retailer was determined to have any rights therein. Each Retailer authorizes Bank to file UCC financing statements, including amendments, in order to perfect such security interests, and Retailers further agree to cooperate fully with Bank as Bank may otherwise reasonably request in order to give effect to the security interests granted by this Section 6.03. Each Retailer agrees to provide Bank with not less than thirty (30) days prior written notice of any change in location of its executive offices or principal place of business or any change of its corporate name and, notwithstanding the foregoing, no such change shall be effected before such Retailer shall have supplied Bank with signed copies of all filings and shall have taken all actions as Bank may reasonably determine to be necessary or appropriate to preserve and maintain at all times the perfection and priority of the security interests granted or purported to be granted to Bank hereunder. Unless Bank shall have otherwise consented in writing, no Retailer shall create, assume or suffer to exist any lien on any of its right, title or interest under this Agreement or in the proceeds thereof. Notwithstanding any other provision hereof, Bank shall have no lien on, or security interest in, any Account on or after Retailers’ exercise of the purchase option described in Section 11.03, except for Accounts excluded from purchase in accordance therewith, and Bank agrees to cooperate fully with Retailers in order to promptly file any UCC or comparable termination statements required in order to effect the foregoing.