Common use of First Priority Perfected Security Interest Clause in Contracts

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. This Agreement creates in favor of the Secured Party a first priority security interest in the Collateral currently in existence, which security interest will be a perfected first priority security interest so long as the Secured Party retains possession upon delivery of the Collateralcertificate evidencing the Collateral together with an undated stock power endorsed in blank.

First Priority Perfected Security Interest. This Agreement creates in favor of the Secured Party a first priority perfected 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. This Agreement creates in favor of the Secured Party a first priority security interest in the Collateral currently in existence, which security interest will be a perfected first priority security interest so long as upon delivery to the Secured Party retains possession Escrow Agent of the CollateralEscrow Items.