Such Grantor owns each item of the Collateral purported to be owned by such Grantor free and clear of any and all Liens or claims (other than minor defects in title that do not interfere with its ability to conduct its business as currently conducted or to utilize such items of the Collateral for their intended purpose), including Liens arising as a result of such Grantor becoming bound (as a result of merger or otherwise) as grantor under a security agreement entered into by another Person, except for, with respect to Collateral other than any Pledged Equity Interests, other Permitted Liens. No financing statement or mortgage with respect to all or any part of the Collateral is on file or of record in any public office in which financing statements or mortgages are filed, except such as have been filed in favor of the Collateral Agent, for the ratable benefit of the Secured Parties, pursuant to this Agreement or as are expressly permitted by the Credit Agreement.