Failure of Perfection. The security interests granted by Borrower to Lender shall for any reason fail or cease to create a valid and perfected and, except to the extent otherwise permitted by this Agreement, first priority lien in favor of Lender.
Failure of Perfection. The liens on the Property granted by Borrower to Lender in the SLFRF Crimson Flats East Mortgage for any reason fails or ceases to be a valid and perfected lien on the Property.
Failure of Perfection. Any Collateral Document, after delivery thereof pursuant hereto, shall for any reason fail to create a valid and perfected and, except to the extent permitted by the terms hereof or thereof, first priority Lien in favor of the Administrative Agent or the Mortgage Trustee for the benefit of the holders of the Obligations on any Collateral purported to be covered thereby.
Failure of Perfection. Any security interest granted by this Agreement is unperfected due to any action or omission by Borrower in violation of this Agreement.
Failure of Perfection. The security interests granted by Borrower to Agent shall for any reason fail or cease to create a valid and perfected and, except to the extent otherwise permitted by this Agreement, first priority lien in favor of Agent.
