Common use of Warranties of the Borrower Clause in Contracts

Warranties of the Borrower. 4.1 The Borrower hereby warrants to the Secured Party that: (a) the security interest granted hereby and any expressly permitted security interests having priority over the security interests granted hereby, the Borrower is or will be the owner of, or have an interest in, the Collateral free from any adverse liens, security interest or encumbrances, and agrees that it will defend the Collateral against all claims and demands of all persons, firms or bodies corporate at any time claiming the same or any interest therein; and (b) the security interests herein are given and taken as additional security for the payment of the monies payable under other security instruments between the Borrower and the Secured Party, and not in substitution therefor.