Common use of Validity of Liens Clause in Contracts

Validity of Liens. The Security Documents shall be effective to -------- -- ----- create in favor of the Agent a legal, valid and enforceable first security interest in and lien upon the Collateral, subject only to Permitted Liens. All filings, recordings, deliveries of instruments and other actions necessary or desirable in the opinion of the Agent to protect and preserve such security interests shall have been duly effected. The Agent shall have received evidence thereof in form and substance satisfactory to the Agent.

Appears in 1 contract

Sources: Revolving Credit Agreement (Eastern Environmental Services Inc)

Validity of Liens. The Security Documents shall be effective to -------- -- ----- create in favor of the Agent a legal, valid and enforceable first (except for Permitted Liens entitled to priority under applicable law) security interest in and lien upon the Collateral, subject only to Permitted Liens. All filings, recordings, deliveries of instruments and other actions necessary or desirable in the opinion of the Agent to protect and preserve such security interests shall have been duly effected. The Agent shall have received evidence thereof in form and substance satisfactory to the Agent.the

Appears in 1 contract

Sources: Credit Agreement (Ict Group Inc)

Validity of Liens. The Security Documents shall be were effective to -------- -- ----- create in favor of the Agent a legal, valid and enforceable first (except for Permitted Liens entitled to priority under applicable law) security interest in and lien Lien upon the Collateral, subject only to Permitted Liens. All filings, recordings, deliveries of instruments and other actions necessary or desirable in the opinion of the Agent to protect and preserve such security interests shall have been were duly effected. The Agent shall have received evidence thereof in form and substance satisfactory to the Agent.

Appears in 1 contract

Sources: Revolving Credit Agreement (SeaCube Container Leasing Ltd.)

Validity of Liens. The Security Documents shall be effective to -------- -- ----- create in favor of the Agent a legal, valid and enforceable first priority (except for Permitted Liens) security interest in and lien upon the Collateral, subject only to Permitted Liens. All filings, recordings, deliveries of instruments and other actions reasonably necessary or desirable in the opinion of the Agent to protect and preserve such security interests shall have been duly effected. The Agent shall have received evidence thereof in form and substance reasonably satisfactory to the Agent.

Appears in 1 contract

Sources: Revolving Credit Agreement (Terex Corp)

Validity of Liens. The Security Documents other than the Foreign Security Documents shall be effective to -------- -- ----- create in favor of the Agent a legal, valid and enforceable first (except for Permitted Liens entitled to priority under applicable law) security interest in and lien upon the Collateral, subject only to Permitted Liens. All filings, recordings, deliveries of instruments and other actions necessary or desirable in the opinion of the Agent to protect and preserve such security interests shall have been duly effected. The Agent shall have received evidence thereof in form and substance satisfactory to the Agent.

Appears in 1 contract

Sources: Revolving Credit Agreement (Holmes Products Corp)

Validity of Liens. The Security Documents shall be effective to -------- -- ----- create in favor of the Agent a legal, valid and enforceable first (except for Permitted Liens) security interest in and lien upon the Collateral, subject only to Permitted Liens. All filings, recordings, deliveries of instruments and other actions necessary or desirable in the opinion of the Agent to protect and preserve such security interests shall have been duly effected. The Agent shall have received evidence thereof in form and substance satisfactory to the Agent.

Appears in 1 contract

Sources: Revolving Credit Agreement (Rti Capital Corp)

Validity of Liens. The Security Documents shall be effective to -------- -- ----- create in favor of the Agent a legal, valid and enforceable first lien and security interest in and lien upon the Collateral, subject only to Permitted Liens. All filings, recordings, deliveries of instruments and other actions reasonably necessary or desirable in the opinion of the Agent to protect and preserve such lien and security interests interest shall have been duly effected. The Agent shall have received evidence thereof in form and substance reasonably satisfactory to the Agent.

Appears in 1 contract

Sources: Construction Loan Agreement (CNL Growth Properties, Inc.)

Validity of Liens. The Security Documents shall be effective to -------- -- ----- create in favor of the Agent a legal, valid and enforceable first priority (except for Permitted Liens entitled to priority under Applicable Law) security interest in and lien Lien upon the Collateral, subject only to Permitted Liens. All filings, recordings, deliveries of The Agent shall have received all documents and instruments necessary for the filings and recordings and other actions necessary or desirable in the opinion of the Agent to protect and preserve such security interests shall have been duly effectedinterests. The Agent shall have received evidence thereof in form and substance satisfactory to the Agent.

Appears in 1 contract

Sources: Revolving Credit and Term Loan Agreement (Century Aluminum Co)