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 (except to the extent that Lender requires the discharge thereof prior to the advance of the initial Loans hereunder) and the other liens permitted under Section 9.8 hereof. Borrower has good and marketable title to all of its properties and assets subject to no liens, mortgages, pledges, security interests, hypothecs, encumbrances or charges of any kind, except those granted to Lender and such others as are specifically listed on Schedule 8.4 hereto (except to the extent that Lender requires the discharge thereof prior to the advance of the initial Loans hereunder) or permitted under Section 9.8 hereof.

Priority of Liens; Title to Properties. The security interests and liens granted to Lender the Administrative Agent 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 Permitted Liens (except to the extent that Lender requires Schedule 10.8 provides that the Lenders require the discharge thereof of a lien set out therein prior to the advance of the initial Loans hereunder) and the other liens permitted under Section 9.8 hereof). Borrower has good and marketable title to all of its properties and assets assets, except to an extent which would not reasonably be expected to result in a Material Adverse Change, subject to no liens, mortgages, pledges, security interests, hypothecs, encumbrances or charges of any kind, except those granted to Lender the Administrative Agent and such others as are specifically listed on Schedule 8.4 hereto Permitted Liens (except to the extent that Lender requires Schedule 10.8 provides that the Lenders require the discharge thereof of a lien set out therein prior to the advance of the initial Loans hereunder) or permitted under Section 9.8 hereof).