Defective Perfection Clause Samples

Defective Perfection. If Bank shall receive at any time following the Closing Date an SOS Report indicating that except for Permitted Liens, Bank’s security interest in the Collateral is not prior to all other security interests or Liens of record reflected in the report;

Defective Perfection. If Lender shall receive at any time following the Closing Date an SOS Report indicating that except for Permitted Liens, Lender’s security interest in the Collateral is not prior to all other security interests or Liens of record reflected in the report;

Defective Perfection. If Agent shall receive at any time following the Closing Date an SOS Report indicating that Agent’s security interest in the Collateral is not prior to all other security interests or Liens of record reflected in the report other than as a result of Agent’s failure to file or maintain its Lien or Liens securing Permitted Indebtedness that is allowed to be prior to Agent’s security interest.

Defective Perfection. If Lender shall receive at any time following the Closing Date a title/▇▇▇▇▇▇▇ report or SOS Report indicating that except for Permitted Liens, Lender’s security interest in EESV’s Leases and/or its security interest in the Collateral, as applicable, is not prior to all other security interests or Liens of record reflected in any such report(s), and Borrower and/or EESV, as applicable, shall fail to correct such defective perfection within ten (10) days from receipt of notice from Lender of an Event of Default pursuant to this Section 8.3;

Defective Perfection. If Lender shall receive at any time following the Closing Date a UCC search report indicating that except for Permitted Liens, Lender’s security interest in the Collateral is not prior to all other security interests or Liens of record reflected in such report;

Defective Perfection. If, at any time, Lenders’ security interest in the Collateral is not prior to all other security interests or Liens;

Defective Perfection. If Bank shall receive at any time following the Closing Date a Lien search report indicating that except as provided in the Schedule 7.5 and except for the Permitted Liens described in paragraphs (c), (e) - (m) and (p) (with respect to (p), to the extent any such refinancing, extension or renewal relates to Permitted Liens described in such paragraphs (c), (e) - (m)), Bank's security interest in the Collateral purported to be covered by this Agreement is not prior to all other security interests or Liens of record reflected in the report on such Collateral, other than due to the failure of Bank to take any action to protect or perfect its security interest with respect to such Collateral, and such occurrence has not been cured within 30 days after Borrower shall have received notice of such failure from Bank;

Defective Perfection. If the Agents shall receive at any time following the Effective Date an SOS Report indicating that, except for Permitted Liens, Collateral Agent’s Lien on the Collateral (including the Mortgaged Property) is not prior to all other security interests or Liens of record reflected in the report (other than as a result of voluntary and intentional discharge of the Lien by Collateral Agent);

Defective Perfection. If Bank shall receive at any time following the Second Amendment and Restatement Effective Date an SOS Report indicating that except for Permitted Liens, Bank’s security interest in the Collateral is not prior to all other security interests or Liens of record reflected in the report and the security interests or Liens in question involve an amount in excess of $250,000 in the aggregate;