Acknowledgement of Security Interests. Each Loan Party hereby acknowledges, confirms and agrees that the Collateral Agent, for itself and the benefit of Senior Secured Parties, has and shall continue to have valid, enforceable and perfected first-priority liens (subject only to Permitted Liens) upon and security interests in the Collateral granted to the Collateral Agent, for itself and the benefit of Senior Secured Parties, pursuant to the Financing Documents.
Acknowledgement of Security Interests. Each Loan Party hereby acknowledges, confirms and agrees that Lender has and shall continue to have valid, enforceable and perfected first-priority Liens in the Collateral (or other similar term used in any Loan Document) of the Loan Parties under the Loan Documents, except in the case of (a) Permitted Liens, to the extent any such Permitted Liens would have priority over the Liens in favor of the Lender pursuant to any applicable law and (b) Liens perfected only by possession (including possession of any certificate of title) to the extent the Lender has not obtained or does not maintain possession of such Collateral.
Acknowledgement of Security Interests. Borrower hereby acknowledges, confirms and agrees that Lender has and shall continue to have valid, enforceable and perfected first-priority liens upon and security interests in the Collateral granted to Lender pursuant to the Loan Documents or otherwise granted to or held by Lender.
Acknowledgement of Security Interests. Borrower hereby acknowledges, confirms and agrees that Agent, for the benefit of the Lender Group, has and shall continue to have valid, enforceable and perfected first-priority liens upon and security interests in the Collateral granted to Agent, for the benefit of the Lender Group, pursuant to the Loan Documents or otherwise granted to or held by Agent.
Acknowledgement of Security Interests. Company hereby acknowledges, confirms and agrees that YA Global has and shall continue to have valid, enforceable and perfected first-priority liens upon and security interests in the Pledged Property heretofore granted to YA Global pursuant to the Amended and Restated Security Agreement dated May 25, 2006 between the Company and YA Global, as amended (the "Security Agreement") or otherwise granted to or held by YA Global.
Acknowledgement of Security Interests. Borrowers hereby acknowledge, confirm and agree that Lender Group has and shall continue to have valid, enforceable and perfected first-priority liens upon, and security interests in, the Collateral heretofore granted to Collateral Agent for the benefit of Lenders pursuant to the Loan Documents or otherwise granted to or held by Lender Group, subject to permitted encumbrances, if any.
Acknowledgement of Security Interests. Pursuant to the Security Documents, in order to secure the payment and performance of the Obligations, the Loan Parties have pledged to and created in favor of the Collateral Agent a security interest in and to the Reserve Account, and all cash, Cash Equivalents, instruments, investments, securities entitlements and other securities at any time on deposit in the Reserve Account, and all proceeds of any of the foregoing. The Reserve Account shall constitute collateral security for the payment and performance by the Borrower of the Obligations hereunder and shall at all times (subject to the proviso in Section 9.2) be subject to the control of the Collateral Agent and shall be held in the custody of the depository under the DACA Agreement(s) in trust for the purposes of, and on the terms set forth in, such DACA Agreement(s). Such DACA Agreement(s) provided with respect to the Reserve Account shall be in form and substance to the sole satisfaction of the Collateral Agent. Upon the reasonable request of the Collateral Agent, the Loan Parties shall immediately move the Reserve Account and all funds contained therein to a Depository Institution chosen by the Collateral Agent.
Acknowledgement of Security Interests. Counterparty hereby acknowledges that the Issuer has granted the Security Interests to the Agent and the Secured Parties in the Subject Agreement for the purpose of securing the payment and performance of the Secured Indebtedness and, to the extent that Counterparty’s consent is required for such grant, Counterparty hereby consents, subject to Counterparty’s reservation of all of its rights under the Subject Agreement, the Natural Gas Act and the regulations of the Federal Energy Regulatory Commission. Counterparty and Issuer hereby further acknowledge that the Security Interests and the Financing Documents may be enforced by the Agent and the Secured Parties upon an Event of Default and Counterparty agrees that Counterparty will not delay, oppose, object to or commence or initiate any action or proceeding to challenge the validity or enforceability of any of the Security Interests, the Financing Documents, the appointment of a Receiver, if appointed by or at the request of the Agent or any Secured Party, any proceedings in respect of the foregoing, or any act or omission of the Agent, the Secured Parties or any such Receiver in the enforcement of any of the Financing Documents.
Acknowledgement of Security Interests. Borrower hereby acknowledges, confirms and agrees that Collateral Agent, for itself and the benefit of the Secured Creditors (as defined in the Security Agreement), has and shall continue to have valid, enforceable and perfected first-priority liens (subject to Permitted Liens and Liens permitted pursuant to Section 7.2 of the Credit Agreement) upon and security interests in the Collateral granted to Collateral Agent, for itself and the benefit of the Banks, pursuant to the Loan Documents or otherwise granted to or held by Collateral Agent, for itself and the benefit of the Secured Creditors (as defined in the Security Agreement).
Acknowledgement of Security Interests. Each Note Party hereby acknowledges, confirms and agrees that each Collateral Agent, for itself and the benefit of the respective Holders, has and shall continue to have valid, enforceable and perfected liens upon and security interests in the Collateral granted to such Collateral Agent, for itself and the benefit of such Holders, pursuant to the respective Note Documents.
