AMD 2002 Annual Report Download - page 185

subject to a legal, valid, enforceable, and perfected first priority Encumbrance.
(v) AMD Saxony LLC Security Documents.
(a) The provisions of each of the AMD Saxony LLC Security Documents which has been executed and delivered by AMD Saxony LLC are
effective to create in favour of the Security Agent for the benefit of the Secured Parties, a legal, valid, and enforceable first priority
Encumbrance in all rights, title, and interest of AMD Saxony LLC in the AMD Saxonia LLC Security described therein, subject only to
Permitted Encumbrances; and all necessary filings and recordings have been made in the requisite offices in all jurisdictions necessary or
appropriate to perfect or continue perfected with such priority such Encumbrance on such Security.
(b) Each AMD Saxony LLC Security Document which has been executed and delivered by AMD Saxony LLC is effective to grant to the
Security Agent a legal, valid, and enforceable security interest in all rights, title, and interest of AMD Saxony LLC in the AMD Saxony LLC
Security described therein. When each such Security Document is duly recorded or filed in the applicable recording or filing office(s), if any,
and the recording or filing fees and taxes, if any, in respect thereof are paid and compliance is otherwise had with the formal requirements of
law applicable to the recording and filing of security documentation generally, such AMD Saxony LLC Security is subject to a legal, valid,
enforceable, and perfected first priority Encumbrance.
(vi) AMD Admin Security Documents.
(a) The provisions of each of the AMD Admin Security Documents which has been executed and delivered by AMD Admin are effective to
create in favour of the Security Agent for the benefit of the Secured Parties, a legal, valid, and enforceable first priority Encumbrance in all
rights, title, and interest of AMD Admin in the AMD Admin Security described therein, subject only to Permitted Encumbrances; and all
necessary filings and recordings have been made in the requisite offices in all jurisdictions necessary or appropriate to perfect or continue
perfected with such priority such Encumbrance on such Security.
(b) Each AMD Admin Security Document which has been executed and delivered by AMD Admin is effective to grant to the Security Agent a
legal, valid, and enforceable security interest in all rights, title, and interest of AMD Admin in the AMD Admin Security described therein.
When each such Security Document is duly recorded or filed in the applicable recording or filing office(s), if any, and the recording or filing
fees and taxes, if any, in respect thereof are paid and compliance is otherwise had with the formal requirements of law applicable to the
recording and filing
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Source: ADVANCED MICRO DEVIC, 10-K, March 14, 2003