Validity of Security Documents Sample Clauses

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Validity of Security Documents. Each Security Agreement, each Mortgage or each other security document, after delivery thereof pursuant hereto, shall at all times continue to create a valid and perfected and, except to the extent permitted by the terms hereof or thereof, first priority Lien in favor of the Agent for the benefit of the Agent and the Lenders on any Collateral purported to be covered thereby.
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Validity of Security Documents. The execution, delivery and performance by Grantor of the Security Documents (a) are within Grantor’s powers and have been duly authorized by Grantor’s general partner, sole member or other necessary parties, and all other requisite action for such authorization has been taken; (b) have received all (if any) requisite prior governmental approval in order to be legally binding and enforceable in accordance with the terms thereof; and (c) will not violate, be in conflict with, result in a breach of or constitute (with due notice or lapse of time, or both) a default under, any Legal Requirement or result in the creation or imposition of any lien, charge or encumbrance of any nature whatsoever upon any of Grantor’s property or assets, except as contemplated by the provisions of the Security Documents. The Security Documents constitute the legal, valid and binding obligations of Grantor and others obligated under the terms of the Security Documents, in accordance with their respective terms.
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Validity of Security Documents each of the Security Documents will, on the Closing Date, be effective to grant valid security over the property expressed to be subject to the security interest it purports to create, subject only to the matters referred to in the legal opinions of ▇▇▇▇ ▇▇▇▇▇▇ and ▇▇▇▇▇▇▇▇ Kraft & ▇▇▇▇ to be delivered to the Bank on the Closing Date;
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Validity of Security Documents any provisions of this Agreement, the Debenture or the Guarantee shall be challenged with regard to its validity by the Borrower or the Guarantor or if the Lender shall be of the opinion that the security created pursuant to the Facility is in jeopardy;
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Validity of Security Documents. The execution, delivery and performance by Grantor of the Security Documents 1. 1.1.18.1.1.1 are within Grantor’s powers and have been duly authorized by Grantor’s general partner, sole member or other necessary parties, and all other requisite action for such authorization has been taken; 1. 1.1.18.1.1.2 have received all (if any) requisite prior governmental approval in order to be legally binding and enforceable in accordance with the terms thereof; and 1. 1.1.18.1.1.3 will not violate, be in conflict with, result in a breach of or constitute (with due notice or lapse of time, or both) a default under, any Legal Requirement or result in the creation or imposition of any lien, charge or encumbrance of any nature whatsoever upon any of Grantor’s property or assets, except as contemplated by the provisions of the Security Documents. The Security Documents constitute the legal, valid and binding obligations of Grantor and others obligated under the terms of the Security Documents, in accordance with their respective terms.
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Validity of Security Documents. The execution, delivery and performance by Mortgagor of the Security Documents (a) are within Mortgagor’s powers and have been duly authorized by Mortgagor’s partners or other necessary parties, and all other requisite action for such authorization has been taken; (b) have received all (if any) requisite prior governmental approval in order to be legally binding and enforceable in accordance with the terms thereof; and (c) will not violate, be in conflict with, result in a breach of or constitute (with due notice or lapse of time, or both) a default under, any Legal Requirement or result in the creation or imposition of any lien, charge or encumbrance of any nature whatsoever upon any of Mortgagor’s property or assets, except as contemplated by the provisions of the Security Documents. The Security Documents constitute the legal, valid and binding obligations of Mortgagor and others obligated under the terms of the Security Documents, in accordance with their respective terms.
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Validity of Security Documents. The Mortgages and the Security Agreement are effective to create in favor of the Trustee for the benefit of Buyer a legal, valid and enforceable security interest in the collateral described therein, and proceeds thereof (subject to debtor relief laws and general equitable principles), and, after the filing of the Mortgages and UCC financing statements in the appropriate governmental offices, the Mortgages and Security Agreement shall constitute fully perfected liens on and security interests in, all right, title and interest of Charterer in such collateral and the proceeds thereof, as security for the Secured Obligations (as defined in the Mortgages and the Security Agreement), in each case prior and superior in right to any person other than, in the case of the Cunningham Mortgage, the First Mortgagee (as defined in the ▇▇▇▇▇▇▇▇▇▇ Mortgage).
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Validity of Security Documents. The Security Documents are effective to create in favor of the Collateral Agent, as security for the Notes and the other obligations described therein, for the ratable benefit of the holders of the Notes and the Banks, a legal, valid and enforceable security interest in or other Lien on the Collateral described therein and the proceeds thereof, and, after the filing of the Deeds of Trust and UCC financing statements in the appropriate governmental offices, such Liens and security interests shall constitute fully perfected Liens on and security interests in, all right, title and interest of the Company and its Subsidiaries in the Collateral and the proceeds thereof, in each case prior and superior in right to any Person except Permitted Liens.
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Validity of Security Documents. Each of the Security Documents and all of the Liens and security interests granted thereunder do and shall continue to secure the payment of all Obligations as set forth in such Security Document and constitute valid and perfected Liens and security interests with the priorities set forth in the Security Documents.
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Related to Validity of Security Documents

  • Validity of Security Interest The security interest in and Lien on the Pledged Collateral granted to the Collateral Agent for the benefit of the Secured Parties hereunder constitutes (a) a legal and valid security interest in all the Pledged Collateral securing the payment and performance of the Secured Obligations, and (b) subject to the filings and other actions described in Schedule 7 to the Perfection Certificate (to the extent required to be listed on the schedules to the Perfection Certificate as of the date this representation is made or deemed made), a perfected security interest in all the Pledged Collateral. The security interest and Lien granted to the Collateral Agent for the benefit of the Secured Parties pursuant to this Agreement in and on the Pledged Collateral will at all times constitute a perfected, continuing security interest therein, prior to all other Liens on the Pledged Collateral except for Permitted Liens.

  • Validity and Priority of Security Interest The provisions of this Agreement, and the other Loan Documents create legal and valid Liens on all the Collateral in favor of the Agent, for the ratable benefit of the Agent and the Lenders, and such Liens constitute perfected and continuing Liens on all the Collateral, having priority over all other Liens on the Collateral, except for those Liens identified in clauses (c), (d) and (e) of the definition of Permitted Liens securing all the Obligations, and enforceable against the Borrower and all third parties.

  • Validity of Securities All Securities delivered upon the exercise of the Warrant will be duly and validly issued in accordance with their terms, and the Company will pay all documentary and transfer taxes, if any, in respect of the original issuance thereof upon exercise of the Warrant.

  • Priority of Security Interest Borrower represents, warrants, and covenants that the security interest granted herein is and shall at all times continue to be a first priority perfected security interest in the Collateral (subject only to Permitted Liens that are permitted pursuant to the terms of this Agreement to have superior priority to Bank’s Lien under this Agreement). If Borrower shall acquire a commercial tort claim, Borrower shall promptly notify Bank in a writing signed by Borrower of the general details thereof and grant to Bank in such writing a security interest therein and in the proceeds thereof, all upon the terms of this Agreement, with such writing to be in form and substance reasonably satisfactory to Bank.

  • Reaffirmation of Security Interests Each Loan Party (a) affirms that each of the Liens granted in or pursuant to the Loan Documents are valid and subsisting and (b) agrees that this Amendment does not in any manner impair or otherwise adversely affect any of the Liens granted in or pursuant to the Loan Documents.