Common use of Xxxxx Xxx Xxxxx Clause in Contracts

Xxxxx Xxx Xxxxx. Xxx Xxxxxxx Xxxxxx Xxxxxxxxx, xx xxd when owned by Chex will be duly authorized and validly issued, and fully paid and non-assessable. Chex has good, valid, and marketable title to the Collateral, free from all liens and encumbrances of any kind. As a result of this Agreement, Equitex will have a first priority security interest in the Collateral.

Xxxxx Xxx Xxxxx. Xxx Xxxxxxx Xxxxxx Xxxxxxxxx, xx xxd xnd when owned by Chex will be duly authorized and validly issued, and fully paid and non-assessable. Chex has good, valid, and marketable title to the Collateral, free from all liens and encumbrances of any kind. As a result of this Agreement, Equitex will have a first priority security interest in the Collateral.

Xxxxx Xxx Xxxxx. Xxx Xxxxxxx Xxxxxx Xxxxxxxxx, xx xxd when owned by Chex will be duly authorized and validly issued, and fully paid and non-assessable. Chex has good, valid, and marketable title to the Collateral, free from all liens and encumbrances of any kind. As a result of this Agreement, Equitex Secured Parties will have a first priority security interest in the Collateral, subordinate only to the security interest of Equitex under a Chex Note Security Agreement entered into between Equitex and Chex as of this date.

Xxxxx Xxx Xxxxx. Xxx Xxxxxxx Xxxxxx Xxxxxxxxx, xx xxd xnd when owned by Chex will be duly authorized and validly issued, and fully paid and non-assessable. Chex has good, valid, and marketable title to the Collateral, free from all liens and encumbrances of any kind. As a result of this Agreement, Equitex Secured Parties will have a first priority security interest in the Collateral, subordinate only to the security interest of Equitex under a Chex Note Security Agreement entered into between Equitex and Chex as of this date.