Common use of Defense of Claims; Transferability of Pledged Collateral Clause in Contracts

Defense of Claims; Transferability of Pledged Collateral. Each Pledgor shall, at its own cost and expense, defend title to the Pledged Collateral pledged by it hereunder and the security interest therein and Lien thereon granted to the Collateral Agent and the priority thereof against all claims and demands of all persons, at its own cost and expense, at any time claiming any interest therein adverse to the Collateral Agent or any other Secured Party other than Permitted Collateral Liens (other than Contested Liens). There is no agreement, and no Pledgor shall enter into any agreement or take any other action, that would reasonably be expected to restrict the transferability of any of the Pledged Collateral or otherwise impair or conflict in any material respect with such Pledgors' obligations or the rights of the Collateral Agent hereunder.

Appears in 4 contracts

Sources: Canadian Security Agreement (Norcraft Companies Lp), Security Agreement (Norcraft Companies Lp), Canadian Security Agreement (Norcraft Companies Lp)

Defense of Claims; Transferability of Pledged Collateral. Each Subject to Section 5.05 of the Credit Agreement, each Pledgor shall, at its own cost and expense, defend title to the Pledged Collateral pledged by it hereunder and the security interest therein and Lien thereon granted to the Collateral Agent and the priority thereof against all claims and demands of all persons, at its own cost and expense, at any time claiming any interest therein adverse to the Collateral Agent or any other Secured Party other than Permitted Collateral Liens (other than Contested Liens). There is no agreement, order, judgment or decree, and no Pledgor shall enter into any agreement or take any other actionaction (in each case, other than with respect to Permitted Liens), that would reasonably be expected to restrict the transferability of any of the Pledged Collateral or otherwise impair or conflict in any material respect with such Pledgors' Pledgor’s obligations or the rights of the Collateral Agent hereunder.

Appears in 4 contracts

Sources: First Lien Credit Agreement (Emdeon Inc.), Second Lien Credit Agreement (Emdeon Inc.), First Lien Credit Agreement (Emdeon Inc.)

Defense of Claims; Transferability of Pledged Collateral. Each Subject to Section 6.06 of the Credit Agreement, each Pledgor shall, at its own cost and expense, defend title to the Pledged Collateral pledged by it hereunder and the security interest therein and Lien thereon granted to the Collateral Agent and the priority thereof against all claims and demands of all persons, at its own cost and expense, at any time claiming any interest therein adverse to the Collateral Agent or any other Secured Party other than Permitted Collateral Liens (other than Contested Liens). There is no agreement, order, judgment or decree, and no Pledgor shall enter into any agreement or take any other action, that would reasonably be expected to restrict the transferability of any of the Pledged Collateral or otherwise impair or conflict in any material respect with such Pledgors' Pledgor’s obligations or the rights of the Collateral Agent hereunder.

Appears in 4 contracts

Sources: Security Agreement (Health Management Associates Inc), Credit Agreement (Health Management Associates Inc), Credit Agreement (Health Management Associates Inc)

Defense of Claims; Transferability of Pledged Collateral. Each Pledgor shall, at its own cost and expense, defend title to the Pledged Collateral pledged by it hereunder and the security interest therein and Lien thereon granted to the Collateral Agent and the priority thereof against all claims and demands of all persons, at its own cost and expense, at any time claiming any interest therein adverse to the Collateral Agent or any other Secured Party other than Permitted Collateral Liens (other than Contested Liens). There is no agreement, and no Pledgor shall enter into any agreement or take any other action, that would reasonably be expected to restrict the transferability of any of the Pledged Collateral or otherwise impair or conflict in any material respect with such Pledgors' obligations or the rights of the Collateral Agent hereunder.

Appears in 4 contracts

Sources: Security Agreement (Quest Resource Corp), Second Lien Pledge and Security Agreement (PGT, Inc.), Pledge and Security Agreement (PGT, Inc.)

Defense of Claims; Transferability of Pledged Collateral. Each Pledgor shall, at its own cost and expense, defend title to the Pledged Collateral pledged by it hereunder and the security interest therein and Lien thereon granted to the Collateral Agent and the priority thereof against all claims and demands of all persons, at its own cost and expense, at any time claiming any interest therein materially adverse to the Collateral Agent or any other Secured Party other than Permitted Collateral Liens (other than Contested Liens). There is no agreement, order, judgment or decree, and no Pledgor shall enter into any agreement or take any other action, that would reasonably be expected to restrict the transferability of any of the Pledged Collateral or otherwise materially impair or conflict in any material respect with such Pledgors' Pledgor’s obligations or the rights of the Collateral Agent hereunder.

Appears in 4 contracts

Sources: Pledge and Security Agreement (WorldSpace, Inc), Pledge and Security Agreement (WorldSpace, Inc), Security Agreement (Orbimage Inc)

Defense of Claims; Transferability of Pledged Collateral. Each Pledgor shall, at its own cost and expense, defend title to the Pledged Collateral pledged by it hereunder and the security interest therein and Lien thereon granted to the Collateral Administrative Agent and the priority thereof against all claims and demands of all persons, at its own cost and expense, at any time claiming any interest therein adverse to the Collateral Administrative Agent or any other Secured Party other than Permitted Collateral Liens (other than Contested Liens). There is no agreement, and no Pledgor shall enter into any agreement or take any other action, that would reasonably be expected to restrict the transferability of any of the Pledged Collateral or otherwise impair or conflict in any material respect with such Pledgors' obligations or the rights of the Collateral Administrative Agent hereunder.

Appears in 3 contracts

Sources: Security Agreement (Language Line Costa Rica, LLC), Security Agreement (Language Line Holdings, Inc.), Security Agreement (Atlantic Broadband Management, LLC)

Defense of Claims; Transferability of Pledged Collateral. Each Pledgor shall, at its own cost and expense, defend title to the Pledged Collateral pledged by it hereunder and the security interest therein and Lien thereon granted to the Collateral Agent Trustee and the priority thereof against all claims and demands of all persons, at its own cost and expense, at any time claiming any interest therein adverse to the Collateral Agent Trustee or any other Secured Party other than Permitted Collateral Liens (other than Contested Liens). There is no agreement, order, judgment or decree, and no Pledgor shall enter into any agreement or take any other action, that would reasonably be expected to restrict the transferability of any of the Pledged Collateral or otherwise impair or conflict in any material respect with such Pledgors' Pledgor’s obligations or the rights of the Collateral Agent Trustee hereunder.

Appears in 3 contracts

Sources: Pledge Agreement (Intcomex, Inc.), Pledge Agreement (Intcomex Holdings, LLC), Security Agreement (Intcomex Holdings, LLC)

Defense of Claims; Transferability of Pledged Collateral. Each Pledgor shall, at its own cost and expense, defend title to the Pledged Collateral pledged by it hereunder and the security interest therein and Lien thereon granted to the Collateral Administrative Agent and the priority thereof against all claims and demands of all persons, at its own cost and expense, at any time claiming any interest therein adverse to the Collateral Administrative Agent or any other Secured Party other than Permitted Collateral Liens permitted under the Second Lien Term Loan Agreement (other than Contested Liens). There is no agreement, and no Pledgor shall enter into any agreement or take any other action, that would reasonably be expected to restrict the transferability of any of the Pledged Collateral or otherwise impair or conflict in any material respect with such Pledgors' obligations or the rights of the Collateral Administrative Agent hereunder.

Appears in 2 contracts

Sources: Security Agreement (Quest Resource Corp), Security Agreement (Quest Resource Corp)

Defense of Claims; Transferability of Pledged Collateral. Each Pledgor shall, at its own cost and expense, use commercially reasonable efforts to defend title to the Pledged Collateral pledged by it hereunder and the security interest therein and Lien thereon granted to the Collateral Agent and the priority thereof against all claims and demands of all persons, at its own cost and expense, at any time claiming any interest therein materially adverse to the Collateral Agent or any other Secured Party other than Permitted Collateral Liens (other than Contested Liens). There is no agreement, order, judgment or decree, and, except as permitted under the Indenture and each Other Second-Priority Agreement, no Pledgor shall enter into any agreement or take any other action, that would reasonably be expected to restrict the transferability of any of the Pledged Collateral or otherwise impair or conflict in any material respect with such Pledgors' Pledgor’s obligations or the rights of the Collateral Agent hereunder.

Appears in 2 contracts

Sources: Security Agreement, Security Agreement (Aleris Corp)

Defense of Claims; Transferability of Pledged Collateral. Each Pledgor shall, at its own cost and expense, defend title to the Pledged Collateral pledged by it hereunder and the security interest therein and Lien thereon granted to the Collateral Agent and the priority thereof against all claims and demands of all persons, at its own cost and expense, at any time claiming any interest therein adverse to the Collateral Agent or any other Secured Party other than Permitted Collateral Liens (other than Contested Liens)permitted by the Indenture. There Except as permitted in the Indenture, there is no agreement, order, judgment or decree, and no Pledgor shall enter into any agreement or take any other action, that would reasonably be expected to restrict the transferability of any of the Pledged Collateral or otherwise impair or conflict in any material respect with such Pledgors' Pledgor’s obligations or the rights of the Collateral Agent hereunder.

Appears in 2 contracts

Sources: Security Agreement (Brocade Communications Systems Inc), Security Agreement (Brocade Communications Systems Inc)

Defense of Claims; Transferability of Pledged Collateral. Each Subject to the provisions of the Indenture, each Pledgor shall, at its own cost and expense, defend title to the Pledged Collateral pledged by it hereunder and the security interest therein and Lien thereon granted to the Collateral Agent and the priority thereof against all claims and demands of all persons, at its own cost and expense, at any time claiming any interest therein adverse to the Collateral Agent or any other Secured Party other than Permitted Collateral Liens (other than Contested Liens). There is no agreement, order, judgment or decree, and no Pledgor shall enter into any agreement or take any other action, that would reasonably be expected to restrict the transferability of any of the Pledged Collateral or otherwise impair or conflict in any material respect with such Pledgors' Pledgor’s obligations or the rights of the Collateral Agent hereunder.

Appears in 2 contracts

Sources: Security Agreement (Dish DBS Corp), Security Agreement (EchoStar CORP)

Defense of Claims; Transferability of Pledged Collateral. Each Pledgor shall, at its own cost and expense, defend title to the Pledged Collateral pledged by it hereunder and the security interest therein and Lien thereon granted to the Collateral Agent and the priority thereof against all claims and demands of all persons, at its own cost and expense, at any time claiming any interest therein adverse to the Collateral Agent or any other Secured Party other than Permitted Collateral Liens (other than Contested Liens). There is no agreement, and no Pledgor shall enter into any agreement or take any other action, that would reasonably be expected to restrict the transferability of any of the Pledged Collateral or otherwise not permit, impair or conflict in any material respect with such Pledgors' obligations or the rights of the Collateral Agent hereunderhereunder or under any other Loan Document.

Appears in 2 contracts

Sources: Credit Agreement (Ionics Inc), Security Agreement (Ionics Inc)

Defense of Claims; Transferability of Pledged Collateral. Each Pledgor shall, at its own cost and expense, defend title to the Pledged Collateral pledged by it hereunder and the security interest therein and Lien thereon granted to the Collateral Administrative Agent and the priority thereof against all claims and demands of all persons, at its own cost and expense, at any time claiming any interest therein adverse to the Collateral Administrative Agent or any other Secured Party other than Permitted Collateral Liens permitted under the Credit Agreement (other than Contested Liens). There is no agreement, and no Pledgor shall enter into any agreement or take any other action, that would reasonably be expected to restrict the transferability of any of the Pledged Collateral or otherwise impair or conflict in any material respect with such Pledgors' obligations or the rights of the Collateral Administrative Agent hereunder.

Appears in 2 contracts

Sources: Security Agreement (Quest Resource Corp), Security Agreement (Quest Resource Corp)

Defense of Claims; Transferability of Pledged Collateral. Each Pledgor shall, at its own cost and expense, use commercially reasonable efforts to defend title to the Pledged Collateral pledged by it hereunder and the security interest therein and Lien thereon granted to the Collateral Agent and the priority thereof against all claims and demands of all persons, at its own cost and expense, at any time claiming any interest therein materially adverse to the Collateral Agent or any other Secured Party other than Permitted Collateral Liens (other than Contested Liens). There is no agreement, and order, judgment or decree, and, except as permitted under the Credit Agreement, no Pledgor shall enter into any agreement or take any other action, that would reasonably be expected to restrict the transferability of any of the Pledged Collateral or otherwise impair or conflict in any material respect with such Pledgors' Pledgor’s obligations or the rights of the Collateral Agent hereunder.

Appears in 1 contract

Sources: Security Agreement (Aleris Corp)

Defense of Claims; Transferability of Pledged Collateral. Each Pledgor shall, at its own cost and expense, defend title to the Pledged Collateral pledged by it hereunder and the security interest therein and Lien thereon granted to the Collateral Agent and the priority thereof against all claims and demands of all persons, at its own cost and expense, at any time claiming any interest therein adverse to the Collateral Agent or any other Secured Party other than Permitted Collateral Liens (other than Contested Liens). There is no agreement, and no Pledgor shall enter into any agreement or take any other action, that would reasonably be expected to restrict the transferability of any of the Pledged Collateral or otherwise impair or conflict in any material respect with such Pledgors' obligations or the rights of the Collateral Agent hereunder.

Appears in 1 contract

Sources: Security Agreement (SFBC International Inc)

Defense of Claims; Transferability of Pledged Collateral. Each The Pledgor shall, at its own cost and expense, defend title to the Pledged Collateral pledged by it hereunder and the security interest therein and Lien thereon granted to the Collateral Administrative Agent and the priority thereof against all claims and demands of all persons, at its own cost and expense, Persons at any time claiming any interest therein materially adverse to the Collateral Administrative Agent or any other Secured Party other than Permitted Collateral Liens (other than Contested Liens)Lender. There Except for the Revolver Loan Agreement and the documents executed in connection therewith, there is no agreement, order, judgment or decree, and no the Pledgor shall not enter into any agreement or take any other action, that would reasonably be expected to restrict the transferability of any of the Pledged Collateral or otherwise impair or conflict in any material respect with such Pledgors' the Pledgor’s obligations or the rights of the Collateral Administrative Agent hereunder.

Appears in 1 contract

Sources: Pledge Agreement (Royal Gold Inc)

Defense of Claims; Transferability of Pledged Collateral. Each Pledgor shall, at its own cost and expense, defend title to the Pledged Collateral pledged by it hereunder and the security interest therein and Lien thereon granted to the Collateral Agent and the priority thereof against all material claims and demands of all persons, at its own cost and expense, at any time claiming any interest therein adverse to the Collateral Agent or any other Secured Party other than Permitted Collateral Liens (other than Contested Liens). There is no agreement, order, judgment or decree, and no Pledgor shall enter into any agreement or take any other action, that would reasonably be expected to materially restrict the transferability of any of the Pledged Collateral or otherwise impair or conflict in any material respect with such Pledgors' Pledgor's obligations or the rights of the Collateral Agent hereunderhereunder other than such permits, licenses or agreements in the ordinary course of business.

Appears in 1 contract

Sources: Security Agreement (LNT Leasing II, LLC)

Defense of Claims; Transferability of Pledged Collateral. Each Pledgor shall, at its own cost and expense, defend title to the Pledged Collateral pledged by it hereunder and the security interest therein and Lien thereon granted to the Second Lien Collateral Agent and the priority thereof against all claims and demands of all persons, at its own cost and expensePersons, at any time claiming any interest therein adverse to the Second Lien Collateral Agent or any other Secured Party other than Permitted Collateral Liens (other than Contested Liens). There is no agreement, order, judgment or decree, and no Pledgor shall enter into any agreement or take any other action, that would reasonably be expected to (i) restrict the transferability of any of the Pledged Collateral (other than Permitted Liens) or (ii) otherwise impair or conflict in any material respect with such Pledgors' Pledgor’s obligations or the rights of the Second Lien Collateral Agent hereunder, except as set forth in the Intercreditor Agreement.

Appears in 1 contract

Sources: Second Lien Security Agreement (Dynacast Inc.)

Defense of Claims; Transferability of Pledged Collateral. Each Pledgor shall, at its own cost and expense, defend title to the Pledged Collateral pledged by it hereunder and the security interest therein and Lien thereon granted to the Collateral Administrative Agent and the priority thereof against all claims and demands of all persons, at its own cost and expense, at any time claiming any interest therein adverse to the Collateral Administrative Agent or any other Secured Party other than Permitted Collateral Liens permitted under the Third Lien Term Loan Agreement (other than Contested Liens). There is no agreement, and no Pledgor shall enter into any agreement or take any other action, that would reasonably be expected to restrict the transferability of any of the Pledged Collateral or otherwise impair or conflict in any material respect with such Pledgors' obligations or the rights of the Collateral Administrative Agent hereunder, other than Restrictions on Pledged Interests.

Appears in 1 contract

Sources: Security Agreement (Quest Resource Corp)

Defense of Claims; Transferability of Pledged Collateral. Each Pledgor shall, at its own cost and expense, defend title to the Pledged Collateral pledged by it hereunder and the security interest therein and Lien thereon granted to the Collateral Agent and the priority thereof against all claims and demands of all persons, at its own cost and expense, at any time claiming any interest therein adverse to the Collateral Agent or any other Secured Party other than Permitted Collateral Liens (other than Contested Liens). There is no agreement, and no Pledgor shall enter into any agreement or take any other action, that would reasonably be expected to restrict the transferability of any of the Pledged Collateral or otherwise impair or conflict in any material respect with such Pledgors' obligations or the rights of the Collateral Agent hereunder.

Appears in 1 contract

Sources: Security Agreement (Atrium Companies Inc)

Defense of Claims; Transferability of Pledged Collateral. Each Pledgor shall, at its own cost and expense, defend title to the Pledged Collateral pledged by it hereunder and the security interest therein and Lien thereon granted to the Collateral Agent and the priority thereof against all claims and demands of all persons, at its own cost and expense, at any time claiming any interest therein adverse to the Collateral Agent or any other Secured Party other than Permitted Collateral Liens (other than Contested Liens). There is no agreement, and no Pledgor shall enter into any agreement or take any other action, that would reasonably be expected to restrict the transferability of any of the Pledged Collateral or otherwise impair or conflict in any material respect with such Pledgors' obligations or the rights of the Collateral Agent hereunder, except as permitted herein or by the Purchase Agreement.

Appears in 1 contract

Sources: Security Agreement (Terremark Worldwide Inc)

Defense of Claims; Transferability of Pledged Collateral. Each Pledgor shall, at its own cost and expense, defend title to the Pledged Collateral pledged by it hereunder and the security interest therein and Lien thereon granted to the Collateral Agent and the priority thereof against all claims and demands of all persons, at its own cost and expense, at any time claiming any interest therein adverse to the Collateral Agent or any other Secured Party other than Permitted Collateral Liens (other than Contested Liens). There is no agreement, and order, judgment or decree, and, except as permitted under the Indenture, no Pledgor shall enter into any agreement or take any other action, that would reasonably be expected to restrict the transferability of any of the Pledged Collateral or otherwise impair or conflict in any material respect with such Pledgors' Pledgor’s obligations or the rights of the Collateral Agent hereunder.

Appears in 1 contract

Sources: Security Agreement (Aleris Corp)

Defense of Claims; Transferability of Pledged Collateral. Each Pledgor shall, at its own cost and expense, defend title to the Pledged Collateral pledged by it hereunder and the security interest therein and Lien thereon granted to the Collateral Agent and the priority thereof against all claims and demands of all persons, at its own cost and expense, at any time claiming any interest therein adverse to the Collateral Agent or any other Secured Party other than Permitted Collateral Liens (other than Contested Liens)permitted by the Credit Agreement. There is no agreement, order, judgment or decree, and no Pledgor shall enter into any agreement or take any other action, that would reasonably be expected to restrict the transferability of any of the Pledged Collateral or otherwise impair or conflict in any material respect with such Pledgors' Pledgor’s obligations or the rights of the Collateral Agent hereunder, other than as may be required by the Communications Act.

Appears in 1 contract

Sources: Security Agreement (Barrington Quincy LLC)

Defense of Claims; Transferability of Pledged Collateral. Each The Pledgor shall, at its own cost and expense, defend title to the Pledged Collateral pledged by it hereunder and the security interest therein and Lien thereon granted to the Collateral Administrative Agent and the priority thereof against all claims and demands of all persons, at its own cost and expense, Persons at any time claiming any interest therein materially adverse to the Collateral Administrative Agent or any other Secured Party other than Permitted Collateral Liens (other than Contested Liens)Lender. There Except for the Term Loan Agreement and the documents executed in connection therewith, there is no agreement, order, judgment or decree, and no the Pledgor shall not enter into any agreement or take any other action, that would reasonably be expected to restrict the transferability of any of the Pledged Collateral or otherwise impair or conflict in any material respect with such Pledgors' the Pledgor’s obligations or the rights of the Collateral Administrative Agent hereunder.

Appears in 1 contract

Sources: Pledge Agreement (Royal Gold Inc)

Defense of Claims; Transferability of Pledged Collateral. Each Subject to Section 5.05 of the Credit Agreement, each Pledgor shall, at its own cost and expense, defend title to the Pledged Collateral pledged by it hereunder and the security interest therein and Lien thereon granted to the Collateral Agent and the priority thereof against all claims and demands of all persons, at its own cost and expense, at any time claiming any interest therein adverse to the Collateral Agent or any other Secured Party other than Permitted Collateral Liens (other than Contested Liens). There is no agreement, order, judgment or decree, and no Pledgor shall enter into any agreement or take any other action, that would reasonably be expected to restrict the transferability of any of the Pledged Collateral or otherwise impair or conflict in any material respect with such Pledgors' Pledgor’s obligations or the rights of the Collateral Agent hereunderhereunder other than as permitted under the Credit Agreement.

Appears in 1 contract

Sources: Security Agreement (Colonial Downs, LLC)

Defense of Claims; Transferability of Pledged Collateral. Each Pledgor shall, at its own cost and expense, defend title to the Pledged Collateral pledged by it hereunder and the security interest therein and Lien thereon granted to the Collateral Administrative Agent and the priority thereof against all claims and demands of all persons, at its own cost and expense, at any time claiming any interest therein adverse to the Collateral Administrative Agent or any other Secured Party other than Permitted Collateral Liens permitted under the Third Lien Term Loan Agreement (other than Contested Liens). There is no agreement, and no Pledgor shall enter into any agreement or take any other action, that would reasonably be expected to restrict the transferability of any of the Pledged Collateral or otherwise impair or conflict in any material respect with such Pledgors' obligations or the rights of the Collateral Administrative Agent hereunder.

Appears in 1 contract

Sources: Security Agreement (Quest Resource Corp)

Defense of Claims; Transferability of Pledged Collateral. Each Pledgor shall, at its own cost and expense, defend title to the Pledged Collateral pledged by it hereunder and the security interest therein and Lien thereon granted to the Collateral Agent and the priority thereof against all claims and demands of all persons, at its own cost and expense, at any time claiming any interest therein adverse to the Collateral Agent or any other Secured Party other than Permitted Collateral Liens (other than Contested Liens). There is no agreement, and no Pledgor shall enter into any agreement or take any other action, that would reasonably be expected to restrict the transferability of any of the Pledged Collateral or otherwise impair or conflict in any material respect with such Pledgors' obligations or the rights of the Collateral Agent hereunder, except as permitted herein or by the Purchase Agreement.

Appears in 1 contract

Sources: Security Agreement (Terremark Worldwide Inc)

Defense of Claims; Transferability of Pledged Collateral. Each Pledgor shall, at its own cost and expense, defend title to the Pledged Collateral pledged by it hereunder and the security interest therein and Lien thereon granted to the Collateral Administrative Agent and the priority thereof against all claims and demands of all persons, at its own cost and expense, at any time claiming any interest therein adverse to the Collateral Administrative Agent or any other Secured Party other than Permitted Collateral Liens permitted under the Credit Agreement (other than Contested Liens). There is no agreement, and no Pledgor shall enter into any agreement or take any other action, that would reasonably be expected to restrict the transferability of any of the Pledged Collateral or otherwise impair or conflict in any material respect with such Pledgors' obligations or the rights of the Collateral Administrative Agent hereunder, other than Restrictions on Pledged Interests.

Appears in 1 contract

Sources: Security Agreement (Quest Resource Corp)

Defense of Claims; Transferability of Pledged Collateral. Each Pledgor shall, at its own cost and expense, defend title to the Pledged Collateral pledged by it hereunder and the security interest therein and Lien thereon granted to the Collateral Administrative Agent and the priority thereof against all claims and demands of all persons, at its own cost and expense, at any time claiming any interest therein adverse to the Collateral Administrative Agent or any other Secured Party other than Permitted Collateral Liens permitted under the Second Lien Term Loan Agreement (other than Contested Liens). There is no agreement, and no Pledgor shall enter into any agreement or take any other action, that would reasonably be expected to restrict the transferability of any of the Pledged Collateral or otherwise impair or conflict in any material respect with such Pledgors' obligations or the rights of the Collateral Administrative Agent hereunder, other than Restrictions on Pledged Interests.

Appears in 1 contract

Sources: Security Agreement (Quest Resource Corp)

Defense of Claims; Transferability of Pledged Collateral. Each Subject to the Indenture, each Pledgor shall, at its own cost and expense, defend title to the Pledged Collateral pledged by it hereunder and the security interest therein and Lien thereon granted to the Collateral Agent and the priority thereof against all claims and demands of all persons, at its own cost and expense, at any time claiming any interest therein adverse to the Collateral Agent or any other Secured Party Holder other than Permitted Collateral Liens (other than Contested Liens). There is no agreement, order, judgment or decree by or against any Pledgor, and no Pledgor shall enter into any agreement or take any other action, that would reasonably be expected to restrict the transferability of any of the Pledged Collateral or otherwise impair or conflict in any material respect with such Pledgors' Pledgor’s obligations or the rights of the Collateral Agent hereunder, other than entering into, and as permitted by, the Intercreditor Agreement.

Appears in 1 contract

Sources: Pledge and Security Agreement (Ambassadors International Inc)