Common use of UCC Search Reports Clause in Contracts

UCC Search Reports. Agent shall have received written search reports provided to Agent by a search service acceptable to Agent, listing all effective financing statements that name Seller as debtor or assignor and that are filed in any applicable UCC jurisdiction and in such other jurisdictions that Agent shall reasonably request, together with copies of such financing statements (none of which shall cover any Purchased Assets or interests therein or proceeds of any thereof other than those in favor of Agent), and tax and judgment lien search reports from a Person satisfactory to Agent showing no evidence of such lien filed against Seller.