Common use of Enforceability of Liens Clause in Contracts

Enforceability of Liens. If any lien or security interest granted by Borrower to Agent in connection with the Loan is or becomes invalid or unenforceable or is not, or ceases to be, a perfected first priority lien or security interest, as applicable, in favor of Agent, encumbering the asset which it is intended to encumber, and Borrower fails to cause such lien or security interest to become a valid, enforceable, first and prior lien or security interest in a manner satisfactory to Agent within ten (10) days after Agent delivers written notice thereof to Borrower.