Intended Collateral Sample Clauses

Intended Collateral. First Lien Nexstar Agent, First Lien Mission Agent and Second Lien Agent acknowledge and agree that (a) all of such Intended Collateral are material assets of Grantors, (b) Intended Collateral is or may be subject to laws, regulations or agreements that (i) restrict the right or power of a Grantor to grant, allow the perfection of, or grant rights allowing the exercise of remedies with respect to a Lien in Intended Collateral, (ii) restrict the right of a Person to receive, perfect, or exercise remedies with respect to a Lien in Intended Collateral, or (iii) could result in a default or potential forfeiture of such Intended Collateral related to the grant of, perfection of, or exercise of remedies with respect to a Lien in such Intended Collateral, (c) Intended Collateral and any Lien or purported Lien in or with respect to any of the Intended Collateral might be subject to any of the matters described in Section 1.1(b), (d) First Lien Nexstar Claimholders, First Lien Mission Claimholders and Second Lien Claimholders would intend and require that all Intended Collateral be, but for such restrictions, imperfections or matters described in Section 1.1(b), subject to a perfected Lien granted by the applicable Grantor for the benefit of First Lien Nexstar Claimholders, First Lien Mission Claimholders and Second Lien Claimholders, (e) First Lien Nexstar Claimholders, First Lien Mission Claimholders and Second Lien Claimholders do intend that all Intended Collateral be subject to the Lien priorities applicable to Collateral as provided in this Agreement, notwithstanding any such restrictions or imperfections, any absence or ineffectiveness of the grant of a Lien or purported Lien, the failure to perfect such Lien or purported Lien in any Intended Collateral and/or any other matter described in Section 1.1(b), and (f) notwithstanding any such restrictions or imperfections, any absence or ineffectiveness of the grant of a Lien or purported Lien, the failure to perfect such Lien or purported Lien in any Intended Collateral and/or any other matter described in Section 1.1(b), solely for determining the rights of First Lien Nexstar Claimholders, First Lien Mission Claimholders and Second Lien Claimholders, First Lien Nexstar Agent, First Lien Mission Agent and Second Lien Agent shall be deemed to have a perfected security instrument and Lien in all Intended Collateral and all Intended Collateral shall be deemed Collateral.
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Intended Collateral. The Intended Collateral shall consist of one or more, and any combination of (such number and combination to be determined by the Corporation in its sole discretion), items of Eligible Equipment (as defined below) that together shall have, as of the date on which such items are pledged as contemplated under the agreement of which this Exhibit D forms a part (such agreement, the "Purchase Agreement") an aggregate Collateral Value (as defined below) of not less than $5,000,000.
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Related to Intended Collateral

  • Excluded Collateral Notwithstanding the foregoing provisions of this ss.2, such grant of security interest shall not extend to, and the term "Collateral" shall not include, any chattel paper and general intangibles which are now or hereafter held by the Company as licensee, lessee or otherwise, to the extent that (i) such chattel paper and general intangibles are not assignable or capable of being encumbered as a matter of law or under the terms of the license, lease or other agreement applicable thereto (but solely to the extent that any such restriction shall be enforceable under applicable law), without the consent of the licensor or lessor thereof or other applicable party thereto and (ii) such consent has not been obtained; provided, however, that the foregoing grant of security interest shall extend to, and the term "Collateral" shall include, (1) any and all proceeds of such chattel paper and general intangibles to the extent that the assignment or encumbering of such proceeds is not so restricted and (2) upon any such licensor, lessor or other applicable party consent with respect to any such otherwise excluded chattel paper or general intangibles being obtained, thereafter such chattel paper or general intangibles as well as any and all proceeds thereof that might have theretofore have been excluded from such grant of a security interest and the term "Collateral."

  • Security Interests in Collateral To secure their Obligations under this Agreement and the other Loan Documents, the Loan Parties shall grant to the Collateral Agent, for its benefit and the ratable benefit of the other Secured Parties, a first-priority security interest in all of the Collateral pursuant to the Security Documents.

  • Possessory Collateral Immediately upon Borrower's receipt of any portion of the Collateral evidenced by an agreement, Instrument or Document, including, without limitation, any Tangible Chattel Paper and any Investment Property consisting of certificated securities, Borrower shall deliver the original thereof to Lender together with an appropriate endorsement or other specific evidence of assignment thereof to Lender (in form and substance acceptable to Lender). If an endorsement or assignment of any such items shall not be made for any reason, Lender is hereby irrevocably authorized, as Borrower's attorney and agent-in-fact, to endorse or assign the same on Borrower's behalf.

  • Excluded Property Notwithstanding anything to the contrary in Section 2.1, the property, assets, rights and interests set forth in this Section 2.2 (the “Excluded Property”) are excluded from the Property:

  • Rights in Collateral; Priority of Liens Borrower and each other Loan Party own the property granted by it as Collateral under the Collateral Documents, free and clear of any and all Liens in favor of third parties. Upon the proper filing of UCC financing statements, and the taking of the other actions required by the Required Lenders, the Liens granted pursuant to the Collateral Documents will constitute valid and enforceable first, prior and perfected Liens on the Collateral in favor of Agent, for the ratable benefit of Agent and Lenders.