Rights in Collateral; Priority of Liens. All Collateral is owned or leased by Borrower, free and clear of any and all Liens in favor of third parties, other than Permitted Liens. The Liens granted to TBCC pursuant to the Loan Documents constitute valid, enforceable and perfected first-priority Liens on the Collateral, except for Permitted Liens.
Appears in 7 contracts
Sources: Loan and Security Agreement (Idt Corp), Loan and Security Agreement (Shopnow Com Inc), Loan and Security Agreement (Endocare Inc)
Rights in Collateral; Priority of Liens. All Collateral is owned or --------------------------------------- leased by Borrower, free and clear of any and all Liens in favor of third parties, other than Permitted Liens. The Liens granted to TBCC pursuant to the Loan Documents constitute valid, enforceable and perfected first-priority Liens on the Collateral, except for Permitted Liens.
Appears in 3 contracts
Sources: Annual Report, Loan and Security Agreement (Personify Inc), Loan and Security Agreement (Odetics Inc)
Rights in Collateral; Priority of Liens. All Collateral is owned owned, licensed to Borrower or leased by Borrower, free and clear of any and all Liens in favor of third parties, other than Permitted Liens. The Liens granted to TBCC TTFC pursuant to the Loan Documents constitute valid, enforceable and perfected first-priority Liens on the Collateral, except for Permitted Liens.
Appears in 1 contract
Rights in Collateral; Priority of Liens. All Collateral is and all IP --------------------------------------- Assets are owned or leased by Borrower, free and clear of any and all Liens in favor of third parties, other than Permitted Liens. The Liens granted to TBCC pursuant to the Loan Documents constitute valid, enforceable and perfected first-priority Liens on the Collateral, except for Permitted Liens.
Appears in 1 contract
Sources: Loan and Security Agreement (Pilot Network Services Inc)
Rights in Collateral; Priority of Liens. All Collateral is owned or leased by BorrowerObligor, free and clear of any and all Liens in favor of third parties, other than Permitted Liens. The Liens granted to TBCC pursuant to the Loan Documents constitute valid, enforceable and perfected first-priority Liens on the Collateral, except for Permitted Liens.
Appears in 1 contract
Sources: Security Agreement (Idt Corp)
Rights in Collateral; Priority of Liens. All Collateral is owned or ----------------------------------------- leased by Borrower, free and clear of any and all Liens in favor of third parties, other than Permitted Liens. The Liens granted to TBCC pursuant pur-suant to the Loan Documents constitute valid, enforceable and perfected first-priority Liens on the Collateral, except for Permitted Liens.
Appears in 1 contract