Common use of Priority of Liens; Title to Properties Clause in Contracts

Priority of Liens; Title to Properties. The security interests and liens granted to Lender under this Agreement and the other Financing Agreements constitute valid and perfected first priority liens and security interests in and upon the Collateral subject only to the liens indicated on Schedule 8.4 hereto and the other liens permitted under Section 9.8 hereof. Each Borrower has valid leasehold interests in all of its real property (it being understood that ACI and LEP occupy premises leased by GLA) and good, valid and merchantable title to all of its other properties and assets subject to no liens, mortgages, pledges, security interests, encumbrances or charges of any kind, except those granted to Lender and such others as are specifically listed on Schedule 8.4 hereto or permitted under Section 9.8 hereof.

Priority of Liens; Title to Properties. The security interests and ----------------------------------------- liens granted to Lender under this Agreement and the other Financing Agreements constitute valid and perfected first priority liens and security interests in and upon the Collateral subject only to the liens indicated on Schedule 8.4 hereto and the other liens permitted under Section 9.8 hereofhereof (other than as to specific items of Collateral as to which the security interest of Lender is not required as of the date hereof to be perfected consisting of the Excluded Property). Each Borrower has valid leasehold interests in all of its real property (it being understood that ACI good and LEP occupy premises leased by GLA) and good, valid and merchantable marketable title to all of its other properties and assets subject to no liens, mortgages, pledges, security interests, encumbrances or charges of any kind, except those granted to Lender and such others as are specifically listed on Schedule 8.4 hereto or permitted under Section 9.8 hereof.

Priority of Liens; Title to Properties. The security interests and liens granted to Lender under this Agreement and the other Financing Agreements constitute valid and perfected first priority liens and security interests in and upon the Collateral subject only to the those non material liens indicated on Part 1 of Schedule 8.4 hereto and the other liens permitted under Section 9.8 hereofexistence of which has previously been approved, in writing by Lender. Each Borrower has valid leasehold interests in all of its real property (it being understood that ACI good and LEP occupy premises leased by GLA) and good, valid and merchantable marketable title to all of its other properties and assets assets, including the Purchased Assets subject to no liens, mortgages, pledges, security interests, encumbrances or charges of any kind, except those granted to Lender and such others as are may be specifically listed on Parts 1 and 2 of Schedule 8.4 hereto or permitted under Section 9.8 hereofand as to those listed, if any, on Part 2 of Schedule 8.4 hereto only as specifically set forth therein and only on the assets and properties specifically identified therein.

Priority of Liens; Title to Properties. The security interests and liens granted to Lender under this Agreement and the other Financing Agreements constitute valid and perfected first priority liens and security interests in and upon the Collateral (other than with respect to those vehicles having a vehicle year of 1992 or earlier with respect to which Lender has not perfected its security interest pursuant to Section 7.4(j)) subject only to the liens indicated on Schedule 8.4 hereto and the other liens permitted under Section 9.8 hereof. Each Borrower and each Subsidiary of such Borrower has valid leasehold interests in all of its real property (it being understood that ACI good and LEP occupy premises leased by GLA) and good, valid and merchantable marketable title to all of its other properties and assets subject to no liens, mortgages, pledges, security interests, encumbrances or charges of any kind, except those granted to Lender and such others as are specifically listed on Schedule 8.4 hereto or permitted under Section 9.8 hereof.

Priority of Liens; Title to Properties. The security interests and liens granted to Lender under this Agreement and the other Financing Agreements constitute valid and perfected first priority liens and security interests in and upon the Collateral subject only to the those non material liens indicated on Part 1 of Schedule 8.4 hereto and hereto, the other liens permitted under Section 9.8 hereofexistence of which has previously been approved, in writing by Lender. Each Borrower has valid leasehold interests in all of its real property (it being understood that ACI good and LEP occupy premises leased by GLA) and good, valid and merchantable marketable title to all of its other properties and assets assets, including the Purchased Stock subject to no liens, mortgages, pledges, security interests, encumbrances or charges of any kind, except those granted to Lender and such others as are may be specifically listed on Parts 1 and 2 of Schedule 8.4 hereto or (including those permitted under by Section 9.8 9.8(f) hereof) and as to those listed, if any, on Part 2 of Schedule 8.4 hereto only as specifically set forth therein and only on the assets and properties specifically identified therein.