Ownership Free of Encumbrances. Except for the security interest granted hereby, Debtor now owns, or will use the proceeds hereof to become the owner of, the Collateral free from any prior lien, security interest or encumbrance. No financing statement covering the Collateral or any proceeds thereof is on file in any public office, except for financing statements showing Secured Party as the sole secured party thereunder. Debtor has a good right to grant a security interest in the Collateral to Secured Party.
Ownership Free of Encumbrances. Subject to removal of liens by other lenders which shall be removed prior to any funding, and except for the security interest granted hereby, Debtor now owns, or will use the proceeds hereof to become the owner of, the Collateral free from any prior lien, security interest or encumbrance. No financing statement covering the Collateral or any proceeds thereof is on file in any public office, except for financing statements showing Secured Party as the sole secured party thereunder. Debtor has a good right to grant a security interest in the Collateral to Secured Party.
Ownership Free of Encumbrances. All shares of capital stock that are Collateral are duly issued, fully paid and non-assessable, and except for the security interest granted hereby to Pledgee, Pledgor now owns the Collateral free from any lien, security interest, claim or encumbrance.
Ownership Free of Encumbrances. Except the Security Interest granted hereby, Debtor now owns the Collateral free from any lien, security interest, claim or encumbrance.
Ownership Free of Encumbrances. The Company represents and warrants to the Bank that the Company is, and will remain, the owner of the Collateral free and clear of any Liens except the security interests created hereby in favor of the Bank. None of the Collateral is subject to any Lease. The Company represents and warrants to the effective date hereof, the Engines are the only aircraft engines owned by the Company as of the effective date hereof which are 750 or more rated takeoff horsepower or the equivalent thereof. The Company will not transfer or offer or attempt to transfer, by Lease, sale or otherwise, any interest in the Collateral or possession thereof. The Company will defend the Collateral against all claims and demands of all persons at any time claiming the Collateral or any interest therein.
Ownership Free of Encumbrances. Debtor is, and will remain, the owner of the Collateral free and clear of any prior liens, security interests, encumbrances or conflicting claims or rights of any kind, except security interests in favor of Secured Party, and, with respect to Debtor's patents, trade marks and trade names, except for an existing security interest. Debtor will not transfer or offer or attempt to transfer, by lease, sale or otherwise, any interest in the Collateral or possession thereof without the express written consent of Secured Party. Debtor will defend the Collateral against all claims and demands all of persons at any time claiming the Collateral or any interest therein. Notwithstanding the foregoing, but subject to other provisions hereof and of the Loan Agreement, Debtor may collect its Receivables and dispose of or consume its Inventory in the ordinary course of Debtor's business, and may sell assets not of a material value if no longer used or useful in Debtor's business, provided that any such sale, transfer or other disposition shall be for a price not less than the fair market value of any such assets and shall be pursuant to commercially reasonable terms and conditions, and provided further that such sales, transfers and dispositions will not create an Event of Default under any other provision of this Agreement or the Loan Agreement.
Ownership Free of Encumbrances. Pledgor is and will remain the legal and beneficial owner of the Collateral, free and clear of any prior liens, security interests, encumbrances or conflicting claims, or rights of any kind, except the security interest created hereby, and Pledgor will not transfer or offer or attempt to transfer, by lease or sale or otherwise, any interest in the Collateral or possession thereof without the express written consent of Secured Parties. All of the shares of the Heartsoft Stock have been duly and validly issued and are fully paid and nonassessable. Pledgor will defend the Collateral against all claims and demands of all persons at any time claiming the Collateral or any interest therein. No security agreement, financing statement or other public notice with respect to all or any part of the Collateral is on file or of record in any public office except such as may have been filed pursuant to this Joint Security Agreement.
Ownership Free of Encumbrances. Debtor is and will remain the legal and beneficial owner of the Collateral, free and clear of any prior Liens, except the security interest created hereby and except as set forth in Subsection 5.6 of the Credit Agreement. Debtor will defend the Collateral against all claims and demands of all persons at any time claiming the Collateral or any interest therein, other than persons holding Liens permitted under Subsection 5.6 of the Credit Agreement. No security agreement, financing statement or other public notice with respect to all or any part of the Collateral is on file or of record in any public office except such as may have been filed pursuant to this Agreement and except as set forth in Schedule I attached hereto. Debtor has exclusive possession and control of the Collateral.
Ownership Free of Encumbrances. Except for the security interest granted hereby, Debtor now owns the Collateral free from any prior liens, security interests or encumbrances, and Debtor warrants title to and will defend the Collateral against all claims and demands of persons claiming any interest therein adverse to the Lender. Debtor will not permit any liens or security interests other than the Lender's security interest to attach to any of the Collateral, will not permit the Collateral to be levied upon or attached under any legal process, or permit any other thing to be done that may impair the value of the Collateral or the security interest afforded hereby. 2.
Ownership Free of Encumbrances. Debtor is and will remain the legal and beneficial owner of the Collateral, free and clear of any prior liens, security interests, encumbrances or conflicting claims, or rights of any kind, except the security interest created hereby, and Debtor will not transfer or offer or attempt to transfer, by lease or sale or otherwise, any interest in the Collateral or possession thereof without the express written consent of Secured Party, except for collection of accounts receivable or sales of inventory in the ordinary course of business, and the use of proceeds thereof in the ordinary course of business. Debtor will defend the Collateral against all claims and demands of all persons at any time claiming the Collateral or any interest therein. No security agreement, financing statement or other public notice with respect to all or any part of the Collateral is on file or of record in any public office except such as may have been filed pursuant to this Security Agreement.
