Acknowledgment of Perfection of Security Interest. Each Loan Party hereby acknowledges that, as of the date hereof, the security interests and liens on Collateral to which UCC Article 9 is applicable, granted to the Purchasers under the NPA and the other Loan Documents are in full force and effect, are properly perfected to the extent which a security interest may be perfected by the filing of a financing statement and are enforceable in accordance with the terms of the NPA and the other Loan Documents.
Appears in 2 contracts
Sources: Senior Subordinated Note Purchase Agreement (Princeton Review Inc), Senior Subordinated Note Purchase Agreement (Princeton Review Inc)