Common use of Perfection, Etc Clause in Contracts

Perfection, Etc. Except as permitted under the Collateral Documents, all filings and other actions necessary to perfect and protect the security interest in the Collateral created under the Collateral Documents have been duly made or taken (or will be promptly duly made or taken in accordance with the terms of the relevant Collateral Documents) and are in full force and effect, and the Collateral Documents create in favor of the Collateral Agent for the benefit of the Secured Parties a valid and, together with such filings and other actions, perfected first priority security interest in the Collateral (subject to Liens permitted under the Loan Documents), securing the payment of the Obligations, and all filings and other actions necessary to perfect and protect such security interest have been or will be duly taken. The Loan Parties are the legal and beneficial owners of the Collateral free and clear of any Lien, except for the liens and security interests created or permitted under the Loan Documents. Notwithstanding anything set forth herein (including this Section 6.20) or in any other Loan Document to the contrary, neither the Borrowers nor any other Loan Party makes any representation or warranty as to the pledge or creation of any security interest, or the effects of perfection or non-perfection, the priority or enforceability of any pledge or security interest to the extent not required on the Closing Date pursuant to the proviso to Section 5.01(b) until required pursuant to Section 5.01(b), 7.12 or 7.14.

Perfection, Etc. Except as permitted under the Collateral Documents, all filings and other actions necessary to perfect and protect the security interest in the Collateral created under the Collateral Documents have been duly made or taken (or will be promptly duly made or taken in accordance with the terms of the relevant Collateral Documents) and are in full force and effect, and the Collateral Documents create in favor of the Collateral Agent for the benefit of the Secured Parties a valid and, together with such filings and other actions, perfected first priority security interest in the Collateral (subject to Liens permitted under the Loan Documents), securing the payment of the Obligations, and all filings and other actions necessary to perfect and protect such security interest have been or will be duly taken. The Loan Parties are the legal and beneficial owners of the Collateral free and clear of any Lien, except for the liens and security interests created or permitted under the Loan Documents. Notwithstanding anything set forth herein (including this Section 6.20) or in any other Loan Document to the contrary, neither the Borrowers nor any other Loan Party makes any representation or warranty as to the pledge or creation of any security interest, or the effects of perfection or non-perfection, the priority or enforceability of any pledge or security interest to the extent not required on the Closing Date pursuant to the proviso to Section 5.01(b) until required pursuant to Section 5.01(b), 7.12 or 7.14.

Perfection, Etc. Except as permitted under the Collateral Documents, all filings and other actions necessary to perfect and protect the security interest in the Collateral created under the Collateral Documents have been duly made or taken (or will be promptly duly made or taken in accordance with the terms of the relevant Collateral Documents) and are in full force and effect, and the Collateral Documents create in favor of the Collateral Agent for the benefit of the Secured Parties a valid and, together upon the filing or recordation with such filings the appropriate Governmental Authority of financing statements and other actionsfilings in appropriate form describing the Collateral with respect to which a security interest may be perfected by filing or recordation and upon the taking of possession or control by the Collateral Agent of the Collateral with respect to which a security interest may be perfected by possession or control, perfected first priority security interest in the Collateral (subject to Liens permitted under the Loan Documents), with the priority required under the Loan Documents, securing the payment of the Obligations, and all filings and other actions necessary to perfect and protect such security interest have been or will be duly taken. The Loan Parties are the legal and beneficial owners of the Collateral free and clear of any Lien, except for the liens and security interests created or permitted under the Loan Documents. Notwithstanding anything set forth herein (including this Section 6.20) or in any other Loan Document to the contrary, neither the Borrowers nor any other Loan Party makes any representation or warranty as to the pledge or creation of any security interest, or the effects of perfection or non-perfection, the priority or enforceability of any pledge or security interest to the extent not required on the Closing Date pursuant to the proviso to Section 5.01(b) until required pursuant to Section 5.01(b), 7.12 or 7.14.