Common use of Failure of Liens Clause in Contracts

Failure of Liens. Except as expressly permitted by this Agreement, failure of the Bank’s assignment, liens and security interests covering the Collateral to constitute a first and prior perfected lien on any material portion of the Collateral; or

Failure of Liens. Except as waived in writing by the Bank or expressly permitted by this Agreementagreement, the failure of the Bank’s assignment, liens and security interests covering the Collateral to constitute a first and prior perfected lien on any material portion of the Collateral; or.

Failure of Liens. Except as expressly permitted by this Agreement, failure Failure of the Bank’s assignment, 's liens and security interests covering the Collateral to constitute a first and prior perfected lien on any material portion of the Collateral; or