First Priority Perfected Security Interest. This Agreement is effective to create a valid and continuing first priority Lien on and first priority perfected security interest in the Pledged Stock in favor of Lender and prior to all other Liens, and is enforceable as such as against creditors of and purchasers from Pledgor.
First Priority Perfected Security Interest. Upon the filing ------------------------------------------ of UCC financing statements and Agent's taking possession of the certificates representing the stock included in the Collateral, this Agreement creates in favor of the Agent a first priority perfected security interest in the Collateral. There are no conditions precedent to the effectiveness of this Agreement that have not been fully and permanently satisfied.
First Priority Perfected Security Interest. This Agreement has been duly authorized, executed and delivered by such Pledgor. This Agreement creates a valid security interest in favor of the Administrative Agent for the benefit of the Secured Parties in the Collateral. The taking of possession by the Administrative Agent of the certificates representing the Pledged Shares and all other certificates and instruments constituting Collateral will perfect and establish the first priority of the Administrative Agent’s security interest in the Pledged Shares consisting of certificated securities and, when properly perfected by filing or registration, in all other Collateral represented by such Pledged Shares and instruments securing the Secured Obligations. Except as set forth in this Section 3.3 and except as may be required by applicable foreign laws affecting the pledge of Capital Stock of Foreign Subsidiaries, no action is necessary to perfect or otherwise protect such security interest.
First Priority Perfected Security Interest. This Agreement creates in favor of Secured Party a first priority perfected security interest in the Collateral. There are no conditions precedent to the effectiveness of this Agreement that have not been fully and permanently satisfied.
First Priority Perfected Security Interest. If for any reason (other than solely as a result of Xxxxxx's failure to timely file any mortgage reinscription and/or Code continuation statements), Xxxxxx’s priority position with respect to any Collateral ceases to be a fully perfected, first-priority security interest or lien, except for Permitted Liens, either by virtue of the filing of a Code financing statement, a mortgage, security deed or other security instrument, by virtue of the operation of statute, or otherwise, or if any person shall make any filing altering or terminating any financing statement or other security instrument in favor of Lender without Xxxxxx’s prior written consent which is not reinstated or resolved to Lender’s satisfaction within ten (10) days of the filing thereof.
First Priority Perfected Security Interest. This Agreement creates in favor of the Secured Party a security interest in the Collateral which security interest will be a perfected first priority security interest so long as the Secured Party retains possession of the Collateral.
First Priority Perfected Security Interest. The pledge of the Pledged Collateral pursuant to this Pledge Agreement creates a valid and perfected first lien security interest in the Pledged Collateral, securing the payment and performance of the Obligations.
First Priority Perfected Security Interest. Lessor has (or in the case of after-acquired Cash Collateral, at the time Lessee acquires rights therein, will have), upon delivery of the applicable Securities Account Control Agreement or Deposit Account Control Agreement, a first priority perfected security interest in the Cash Collateral.
First Priority Perfected Security Interest. This Agreement creates and continues in favor of the Agent for the benefit of itself, the Banks and the Issuing Banks, a first priority perfected security interest in the Collateral. There are no conditions precedent to the effectiveness of this Agreement that have not been fully and permanently satisfied.
First Priority Perfected Security Interest. As of the Closing Date and each Borrowing Date thereafter, this Agreement creates a valid security interest in all of the Collateral in which Borrower now or at any time hereafter has rights, and all filings and other action necessary or desirable to perfect and protect such security interest as a first priority security interest have been duly taken.
