Common use of Invalid Security Clause in Contracts

Invalid Security. if any of the Security shall cease to be a valid and perfected 1st security interest as against third parties subject only to Permitted Encumbrances and such state continues for more than two business (2) days;

Invalid Security. if any of the Security shall cease to be a valid and perfected 1st first priority security interest as against third parties subject only to Permitted Encumbrances and such state continues for more than two business (2) days;