Common use of Owner of Collateral Clause in Contracts

Owner of Collateral. The Grantor is and, except as expressly permitted by this Mortgage, will continue to be the owner of the Collateral hereunder whether now owned or hereafter acquired, free and clear of all Liens, claims, encumbrances and security interests other than the security interests in favor of the Mortgagee hereunder and Permitted Liens, and that the Grantor will defend such Collateral and any products and proceeds thereof against all material claims and demands of all Persons (other than holders of Permitted Liens) at any time claiming the same or any interest therein adverse to the Mortgagee. The inclusion of proceeds of the Collateral under the security interest granted herein shall not be deemed consent by the Mortgagee, to any sale, lease or other disposition of any part or all of the Collateral except as expressly permitted herein.