Rights of the Debtor. The Debtor is the legal and beneficial owner of the Collateral free and clear of any Lien, except for the Security Interest and Permitted Liens. No effective financing statement or other instrument similar in effect naming the Debtor as "debtor" covering all or any part of the Collateral is on file in any recording office, except such as (a) may have been filed in favor of the Collateral Agent relating to this Agreement, (b) may be filed in respect of Permitted Liens, and (c) may be filed in connection with respect to which the requirements of Section 3.1(i) of each of the Credit Agreements have been notified.
Appears in 2 contracts
Sources: Term Credit Agreement (Pillowtex Corp), Credit Agreement (Pillowtex Corp)