Common use of Acknowledgment of Liens and Priority Clause in Contracts

Acknowledgment of Liens and Priority. The Borrower, the U.S. Guarantors and the European Subsidiaries as of the date of this Second Waiver Agreement acknowledge and agree that pursuant to the Loan Documents, as security for all of the Obligations, the Bank holds, and the Borrower and U.S. Guarantors hereby grant and reaffirm their prior grant of, first priority, perfected security interests in and liens upon all of the Borrower's and U.S. Guarantors' assets, wherever located, now owned or hereafter acquired, including, without limitation, such assets as more specifically described in the Loan Documents, and first priority mortgage liens upon and security interests in: (i) the Pennsylvania Property, (ii) the Ohio Property, and (iii) the Minnesota Property (all of the foregoing assets and property, collectively "Bank's Mortgages, Liens and Security Interests").

Acknowledgment of Liens and Priority. The Borrower, the U.S. Guarantors and the European Subsidiaries as of the effective date of this Second Third Waiver Agreement acknowledge and agree that pursuant to the Loan Documents, as security for all of the Obligations, the Bank holds, and the Borrower and U.S. Guarantors hereby grant and reaffirm their prior grant of, first priority, perfected security interests in and liens upon all of the Borrower's and U.S. Guarantors' assets, wherever located, now owned or hereafter acquired, including, without limitation, such assets as more specifically described in the Loan Documents, and first priority mortgage liens upon and security interests in: (i) the Pennsylvania Property, (ii) the Ohio Property, and (iii) the Minnesota Property (all of the foregoing assets security interests and property, liens collectively referred to as the "Bank's Mortgages, Liens and Security Interests").