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2 <br />611369v1EL185-30 <br />located at the address specified on the signature pages to this Agreement. <br />Distinctive Iron must give Secured Party written notice prior to any change in the <br />location of Distinctive Iron’s principal office/residence. <br /> <br />4.2. Organization; Authority. Distinctive Iron is a limited liability company, duly <br />organized, existing and in good standing under the laws of the state of its <br />organization and has full power and authority to enter into this Agreement. <br />Distinctive Iron’s state of organization/residence is Minnesota and its exact legal <br />name is as set forth on the signature page to this Agreement. Distinctive Iron will <br />not change its state of organization, form of organization or name without <br />Secured Party’s prior written consent. <br /> <br />4.3. Perfection of Security Interest. Distinctive Iron will execute and deliver, and <br />irrevocably appoints Secured Party (which appointment is coupled with an <br />interest) Distinctive Iron’s attorney-in-fact to execute and deliver in Distinctive <br />Iron’s name, all financing statements (including, but not limited to, amendments, <br />terminations and terminations of other security interests in any of the Collateral), <br />control agreements and other agreements which Secured Party may at any time <br />reasonably request in order to secure, protect, perfect, collect or enforce the <br />Security Interest, Distinctive Iron shall, at any time and from time to time, take <br />such steps as Secured Party may reasonably request for Secured Party: (i) to <br />obtain an acknowledgement, in form and substance reasonably satisfactory to <br />Secured Party, of any bailee having possession of any of the Collateral that such <br />bailee holds such Collateral for Secured Party; (ii) to obtain “control” of any <br />investment property, deposit accounts, letter-of-credit rights or electronic chattel <br />paper (as such terms are defined in the UCC, as hereinafter defined), with any <br />agreements establishing control to be in form and substance reasonably <br />satisfactory to Secured Party; and (iii) otherwise to ensure the continued <br />perfection and priority of the Security Interest in any of the Collateral and the <br />preservation of the rights of Secured Party therein. <br /> <br />4.4. Enforceability of Collateral. To the extent the Collateral consists of accounts, <br />instruments, documents, chattel paper, letter-of-credit rights, letters of credit or <br />general intangibles, the Collateral is enforceable in accordance with its terms, is <br />genuine, complies with applicable laws concerning form, content and manner of <br />preparation and execution, and all persons appearing to be obligated on the <br />Collateral have authority and capacity to contract and are in fact obligated as they <br />appear to be on the Collateral. <br /> <br />4.5. Title to Collateral. Distinctive Iron holds good and marketable title to the <br />Collateral free of all security interests and encumbrances. Distinctive Iron will <br />keep the Collateral free of all security interests and encumbrances except for the <br />Security Interest. Distinctive Iron will defend Secured Party’s rights in the <br />Collateral against the claims and demands of all other persons. <br /> <br />4.6. Collateral Location. Distinctive Iron will keep all tangible Collateral at 15970