Common use of Nature of Collateral Clause in Contracts

Nature of Collateral. The Borrowers are the owners of the Collateral, free from any right or claim of any person or any adverse Lien, except for the security interest created by this Agreement and Permitted Liens, (b) none of the Collateral constitutes, or is the proceeds of, “farm products” as defined in Section 9-102(a)(34) of the Uniform Commercial Code, (c) none of the account debtors or other persons obligated on any of the Collateral is a governmental authority covered by the Federal Assignment of Claims Act or like federal, state or local statute or rule in respect of such Collateral, (d) the Borrowers hold no material commercial tort claim except as indicated on the Perfection Certificate, (e) the Borrowers have at all times operated their business in compliance with all applicable provisions of the federal Fair Labor Standards Act, as amended, and with all applicable provisions of federal, state and local statutes and ordinances dealing with the control, shipment, storage or disposal of hazardous materials or substances, (f) all other information set forth on the Perfection Certificate pertaining to the Collateral is accurate and complete in all material respects, and (g) there has been no change in any of such information since the date on which the Perfection Certificate was signed by the Borrowers.

Nature of Collateral. The Borrowers are the owners of the Collateral, free from any right or claim of any person or any adverse Lien, except for the security interest created by this Agreement and Permitted LiensAgreement, (b) none of the Collateral constitutes, or is the proceeds of, “"farm products” " as defined in Section 9ss.9-102(a)(34) of the Uniform Commercial CodeCode of the State, (c) none of the account debtors or other persons obligated on any of the Collateral is a governmental authority covered by the Federal Assignment of Claims Act or like federal, state or local statute or rule in respect of such Collateral, (d) the Borrowers hold no material commercial tort claim except as indicated on the Perfection CertificateCertificates, (e) the Borrowers have at all times operated their business in compliance with all applicable provisions of the federal Fair Labor Standards Act, as amended, and with all applicable provisions of federal, state and local statutes and ordinances dealing with the control, shipment, storage or disposal of hazardous materials or substances, (f) all other information set forth on the Perfection Certificate Certificates pertaining to the Collateral is accurate and complete in all material respectscomplete, and (g) there has been no change in any of such information since the date on which the Perfection Certificate was Certificates were signed by the Borrowers.

Nature of Collateral. The Borrowers are the owners of the Collateral, free from any right or claim of any person or any adverse Lien, except for the security interest created by this Agreement and Permitted LiensAgreement, (b) none of the Collateral constitutes, or is the proceeds of, “"farm products” " as defined in Section 9ss.9-102(a)(34) of the Uniform Commercial CodeCode of the State, (c) none of the account debtors or other persons obligated on any of the Collateral is a governmental authority covered by the Federal Assignment of Claims Act or like federal, state or local statute or rule in respect of such Collateral, (d) the Borrowers hold no material commercial tort claim except as indicated on the Perfection Certificate, (e) the Borrowers have at all times operated their business in compliance with all applicable provisions of the federal Fair Labor Standards Act, as amended, and with all applicable provisions of federal, state and local statutes and ordinances dealing with the control, shipment, storage or disposal of hazardous materials or substances, (f) all other information set forth on the Perfection Certificate pertaining to the Collateral is accurate and complete in all material respectscomplete, and (g) there has been no change in any of such information since the date on which the Perfection Certificate was signed by the Borrowers.