MRVL » Topics » . Grant of Transaction Liens.

These excerpts taken from the MRVL 8-K filed Nov 14, 2006.
Grant of Transaction Liens. 

(a)   The Borrower, in order to secure the Secured Obligations, and each Guarantor listed on the signature pages hereof, in order to secure its Transaction Guarantee, grants to the Administrative Agent for the benefit of the Secured Parties a continuing security interest in all the following property of the Borrower or such Guarantor, as the case may be, whether now owned or existing or hereafter acquired or arising and regardless of where located:

(i)    all Specified Equity Interests; and

(ii)   all Proceeds of the Specified Equity Interests.

(b)   The Transaction Liens are granted as security only and shall not subject the Administrative Agent or any other Secured Party to, or transfer or in any way affect or modify, any obligation or liability of any Lien Grantor with respect to any of the Collateral or any transaction in connection therewith.

Section 3

Grant of Transaction Liens. 

(a)   The Borrower, in order to secure the Secured Obligations, and each Guarantor listed on the signature pages hereof, in order to secure its Transaction Guarantee, grants to the Administrative Agent for the benefit of the Secured Parties a continuing security interest in all the following property of the Borrower or such Guarantor, as the case may be, whether now owned or existing or hereafter acquired or arising and regardless of where located:

(i)    all Specified Equity Interests; and

(ii)   all Proceeds of the Specified Equity Interests.

(b)   The Transaction Liens are granted as security only and shall not subject the Administrative Agent or any other Secured Party to, or transfer or in any way affect or modify, any obligation or liability of any Lien Grantor with respect to any of the Collateral or any transaction in connection therewith.

Section 3

EXCERPTS ON THIS PAGE:

8-K (2 sections)
Nov 14, 2006
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