Failure of Security. The Agent shall cease to have a valid and perfected first priority security interest in any of the Collateral for any reason other than the failure of the Agent to take any action within its control.
Appears in 3 contracts
Samples: Construction Loan Agreement (Corporate Office Properties Trust), Construction Loan Agreement (Corporate Office Properties Trust), Credit Agreement (U-Store-It Trust)
Failure of Security. The Agent shall cease to have a valid and perfected first priority security interest Lien in any material portion of the Collateral Collateral, in each case, for any reason other than the failure of the Agent to take any action within its control.
Appears in 2 contracts
Samples: Credit Agreement (Ashford Hospitality Trust Inc), Credit Agreement (Ashford Hospitality Trust Inc)
Failure of Security. The Agent shall cease to have a valid and perfected first priority security interest in any of the Collateral Collateral, in each case, for any reason other than the failure of the Agent to take any action within its control.
Appears in 1 contract
Failure of Security. The Agent shall cease to have a valid and perfected first priority security interest in any of the Collateral (subject to Permitted Liens), in each case, for any reason other than the failure of the Agent to take any action within its control.
Appears in 1 contract
Samples: Credit Agreement (First Washington Realty Trust Inc)
Failure of Security. The Agent shall cease to have a valid and perfected first priority security interest in any of the Collateral Collateral, in each case, for any reason other than the failure of the Agent to take any action within its control.
Appears in 1 contract
