Collateral and Collateral Documents. (a) The provisions of each of the Collateral Documents, when delivered, are effective to create in favor of Administrative Agent a valid and enforceable security interest or other Lien in all right, title, and interest of each Loan Party party thereto in the collateral described therein. To the extent required hereby or by the Collateral Documents, each such security interest or other Lien has been perfected and constitutes a perfected, first priority security interest or other Lien in the subject Collateral, subject to no Liens other than Permitted Liens. (b) All representations and warranties of each Loan Party in each Loan Document are true and correct in all material respects (except that such materiality qualifier shall not be applicable to any representation or warranty that is already qualified or modified by materiality in the text thereof), except to the extent that such representations and warranties specifically refer to an earlier date, in which case they shall be true and correct in all material respects as of such earlier date (except that such materiality qualifier shall not be applicable to any representation or warranty that is already qualified or modified by materiality in the text thereof).
Appears in 2 contracts
Sources: Credit Agreement (Ciber Inc), Credit Agreement (Ciber Inc)