Common use of Prior Encumbrances Clause in Contracts

Prior Encumbrances. Borrower has good and indefeasible title to the Collateral, free and clear of liens, claims, security interests, or encumbrances except for Permitted Liens. None of the Collateral has been purchased by Borrower within the six (6) months period preceding the Closing Date, except for (i) sales to Borrower in the ordinary course of the seller's business, and (ii) the acquisition of the Vegas Express by Borrower.

Prior Encumbrances. Borrower has good and indefeasible title to the Collateral, free and clear of liens, claims, security interests, or encumbrances except for Permitted Liens. None of the Collateral has been purchased by Borrower within the six (6) months period preceding the Closing Date, except for (i) sales to Borrower in the ordinary course of the seller's business, and (ii) the acquisition of the Vegas Express by Borrower.

Prior Encumbrances. Borrower has good and indefeasible title to the Collateral, free and clear of liens, claims, security interests, or encumbrances except for Permitted Liens. None Except with respect to certain machinery and equipment that will be purchased with the proceeds of the loan represented by the Term Note, none of the Collateral has been purchased by Borrower within the six (6) months period preceding the Closing Date, except for (i) sales to Borrower in the ordinary course of the seller's business, and (ii) the acquisition of the Vegas Express by Borrower.