Common use of First Priority Security Interest Clause in Contracts

First Priority Security Interest. The pledge of Pledged Securities pursuant to this Security Agreement creates a valid and perfected first priority security interest in the Collateral, enforceable against Pledgor and all third parties and securing payment of the Obligations.

First Priority Security Interest. The pledge of Pledged ----------------------------------- Securities pursuant to this Security Agreement creates Agreement, the delivery to Secured Party of the certificates representing the Pledged Securities accompanied by stock powers duly executed in blank and the filing of appropriate financing statements in the relevant locations create a valid and perfected first priority security interest in the Collateral, enforceable against Pledgor and all third parties and securing payment of the Obligations.

First Priority Security Interest. The pledge of Pledged Securities security interest in the Collateral granted pursuant to this Security Agreement creates a valid and perfected first priority security interest in the Collateral, enforceable against Pledgor and all third parties and securing secures payment of the Obligations, which security interest is first and prior to all other security interests in the Collateral.

First Priority Security Interest. The pledge of Pledged Securities pursuant to this Security Agreement creates and the filing of appropriate financing statements in the locations described on Schedule 3 create a valid and perfected first priority security interest in the Collateral, enforceable against such Pledgor and all third parties and securing payment of the Obligations.

First Priority Security Interest. The pledge of Pledged Securities Interests pursuant to this Security Agreement creates a valid and perfected first priority security interest in the Collateral, enforceable against Pledgor and all third parties and securing payment of the Obligations.

First Priority Security Interest. The pledge of Pledged ---------------------------------- Securities pursuant to this Security Agreement creates Agreement, the delivery to Secured Party of the certificates representing the Pledged Securities accompanied by stock powers duly executed in blank and the filing of appropriate financing statements in the relevant locations create a valid and perfected first priority security interest in the Collateral, enforceable against Pledgor and all third parties and securing payment of the Obligations.

First Priority Security Interest. The pledge of Pledged Securities Collateral pursuant to this Security Agreement creates and the delivery of all certificates or instruments representing or evidencing the Pledged Interests as set forth in Section 1.03 above create a valid and perfected first priority security interest in the Collateral, enforceable against Pledgor and all third parties and securing payment of the Obligations.

First Priority Security Interest. The pledge of Pledged -------------------------------- Securities pursuant to this Security Agreement creates a valid and perfected first priority security interest in the Collateral, secures payment of the Obligations, and is enforceable against Pledgor and all third parties and securing payment of the Obligationsparties.

First Priority Security Interest. The pledge of the Pledged Securities pursuant to this Security Agreement creates and will at all times constitute a valid and perfected first priority security interest in the Collateral, enforceable against Pledgor and all third parties and securing payment of the Secured Obligations, subject to no other Liens other than Permitted Encumbrances.

First Priority Security Interest. The pledge of Pledged Securities pursuant to this Security Agreement creates a valid and perfected first priority security interest in the Collateral, enforceable against Pledgor and all third parties and securing payment of the Obligations.

First Priority Security Interest. The Except as provided in the Intercreditor Agreement, the pledge of Pledged Securities pursuant to this Security Pledge Agreement creates a valid and perfected first priority security interest Security Interest in the Collateral, enforceable against Pledgor and all third parties and securing the payment and performance of the Obligations.

First Priority Security Interest. The pledge of Pledged Securities pursuant to this Security Pledge Agreement creates a valid and perfected first priority security interest Security Interest in the CollateralPledged Securities, enforceable against Pledgor and all third parties and securing the payment and performance of the Obligations, subject only to the lien of St. Jamex xx accordance with the Intercreditor Agreement.

First Priority Security Interest. The pledge of Pledged Securities the Collateral pursuant to this Security Agreement creates a valid and perfected first priority security interest in the Collateral, enforceable against Pledgor the Company and all third parties and securing payment of the Obligations.Obligations except as such

First Priority Security Interest. The pledge of Pledged Securities pursuant to this Security Pledge Agreement creates a valid and perfected first priority security interest in the Collateral, enforceable against Pledgor and all third parties and securing the payment and performance of the Obligations.