Common use of Creation, Perfection and Priority of Liens Clause in Contracts

Creation, Perfection and Priority of Liens. (a) The execution and delivery of the Loan Documents by the Loan Parties, together with the filing of any Uniform Commercial Code financing statements, are effective to create (or continue) in favor of the Administrative Agent for the benefit of Secured Parties, as security for the Obligations, a valid and perfected first priority Lien on all of the Collateral as of the Effective Date (subject only to Liens permitted by Section 7.01 and subject to any filing or other action not taken as a result of the provisions of any applicable Security Instrument), securing the Obligations, and (b) subject to any filing or other action not taken as a result of the provisions of any applicable Security Instrument, all filings and other actions necessary or desirable to perfect and maintain the perfection and first priority status of such Liens have been duly made or taken and remain in full force and effect.

Creation, Perfection and Priority of Liens. As of the Closing Date, (ai) The the execution and delivery of the Loan Documents by the Loan Parties, together with the filing of any Uniform Commercial Code financing statements, are effective to create (or continue) in favor of the Administrative Agent for the benefit of Secured Parties, as security for the Obligations, a valid and perfected first priority Lien on all of the Collateral as of the Effective Closing Date (subject only to Liens permitted by Section 7.01 and subject to any filing or other action not taken as a result of the provisions of any applicable Security Instrument), securing the Obligations, and (bii) subject to any filing or other action not taken as a result of the provisions of any applicable Security Instrument, all filings and other actions necessary or desirable to perfect and maintain the perfection and first priority status of such Liens have been duly made or taken and remain in full force and effect.

Creation, Perfection and Priority of Liens. As of the Closing Date, (ai) the(a) The execution and delivery of the Loan Documents by the Loan Parties, together with the filing of any Uniform Commercial Code financing statements, are effective to create (or continue) in favor of the Administrative Agent for the benefit of Secured Parties, as security for the Obligations, a valid and perfected first priority Lien on all of the Collateral as of the Effective Closing Date (subject only to Liens permitted by Section 7.01 and subject to any filing or other action not taken as a result of the provisions of any applicable Security Instrument), securing the Obligations, and (biib) subject to any filing or other action not taken as a result of the provisions of any applicable Security Instrument, all filings and other actions necessary or desirable to perfect and maintain the perfection and first priority status of such Liens have been duly made or taken and remain in full force and effect.

Creation, Perfection and Priority of Liens. (a) The execution and delivery of the Loan Documents by the Loan Parties, together with the filing of any Uniform Commercial Code financing statements, are effective to create (or continue) in favor of the Administrative Agent for the benefit of Secured Parties, as security for the Obligations, a valid and perfected first priority Lien on all of the Collateral as of the Effective Original Closing Date (subject only to Liens permitted by Section 7.01 and subject to any filing or other action not taken as a result of the provisions of any applicable Security Instrument), securing the Obligations, and (b) subject to any filing or other action not taken as a result of the provisions of any applicable Security Instrument, all filings and other actions necessary or desirable to perfect and maintain the perfection and first priority status of such Liens have been duly made or taken and remain in full force and effect.