First Priority Lien. The Loan Documents after delivery thereof shall for any reason (other than pursuant to the terms thereof) cease to create a valid and perfected first priority lien on the Collateral (subject to the Permitted Liens) purported to be covered, hereby or thereby.
First Priority Lien. Receipt by the Agent of evidence satisfactory in form and substance to the Agent, that the Agent, on behalf of the Lenders, holds a perfected, first priority lien, subject to no other Liens other than Permitted Liens, in the Collateral.
First Priority Lien. The Agent on behalf of the Lenders will hold a first priority lien, subject to no other Liens other than Permitted Liens in the Collateral.
First Priority Lien. The Security Agreement and the Assignment Agreement each creates a valid security interest in the Collateral in favor of the Lender securing the Obligations, which security interest has been duly perfected and is prior to all other Liens, except for Permitted Liens (solely to the extent any such Permitted Liens are first-priority Liens). All filings and other actions necessary or desirable to perfect and protect such security interest in favor of the Lender have been duly made and taken, except for the filing of UCC-1 financing statements required in order to perfect such Liens. Except as set forth on Schedule 4.19, (i) legal title in and beneficial ownership of all Assets of the Borrower are vested in the Borrower, and (ii) none of the Trustees have caused legal title in, or beneficial ownership of, any assets of the Borrower to be held by or in the name of (A) any one or more of the Trustees acting for and on behalf of the Borrower or (B) any other Person as nominee acting for and on behalf of the Borrower.
First Priority Lien. The lien against the Pledged Assets granted pursuant to this Agreement constitutes a valid, perfected first priority lien on the Pledged Assets, enforceable as such against all creditors of the Company and any persons purporting to purchase any of the Pledged Assets from the Company.
First Priority Lien. The liens granted to Secured Party under this Agreement will constitute a first priority lien on the Collateral on the filing of a UCC-1
First Priority Lien. The pledge and grant of a security interest in, and delivery pursuant to this Pledge Agreement of, the Pledged Collateral creates a valid first priority perfected security interest on and in such Pledged Collateral, and the proceeds thereof, securing the payment of the Secured Obligations, subject to no prior lien, assuming continued possession of the original certificates, if any, evidencing the Pledged Shares constituting such Pledged Collateral by the Escrow Agent. Separately, the security interest on and in the Pledged Collateral will become a valid first priority lien upon the due filing of a UCC Financing Statement describing the Pledged Collateral in the applicable filing office in the State in which Grantor was formed.
First Priority Lien. Lessee represents and warrants to Lessor for each Schedule that upon the filing of the financing statements delivered to Lessor on or prior to the respective Commencement Date in the jurisdiction(s) where the Equipment is located as indicated in the related Schedule, then Lessor shall have a first prior perfected security interest in the Equipment free and clear of all other liens and encumbrances except the interest of Lessee hereunder.
First Priority Lien. Termination or subordination of UCC Financing Statements filed against Borrower or liens recorded against the Premises, as determined by Bank to be necessary to reflect Bank's first priority position in the Collateral;
First Priority Lien. The Mortgage creates a first lien or a first priority ownership interest in an estate in fee simple in real property securing the related Mortgage Note;
