ENCUMBRANCES OF SECURITY DOCUMENTS. Except as specifically agreed to in writing by the Agent, any applicable Loan Document for any reason (other than pursuant to the terms thereof) ceases to create a valid and perfected first priority Lien (subject to Permitted Liens) in any of the Collateral.
Appears in 5 contracts
Samples: Credit and Security Agreement (Ultralife Corp), Credit and Security Agreement, Credit and Security Agreement (Ultralife Corp)
