Common use of Lien on Pipeline Properties Clause in Contracts

Lien on Pipeline Properties. At all times hereunder that the Indebtedness remains unpaid, including whenever any Obligor acquires any additional Pipeline Properties, Obligors shall grant to the Administrative Agent for the benefit of the Lenders as security for the Indebtedness a first-priority Lien interest (subject only to Excepted Liens) covering such Properties under the Security Instruments. Such Lien will be created and perfected by and in accordance with the provisions of mortgages, deeds of trust, security agreements and financing statements, or other Security Instruments, all in form and substance satisfactory to the Administrative Agent in its sole discretion and in sufficient executed (and acknowledged where necessary or appropriate) counterparts for recording purposes.

Lien on Pipeline Properties. At all times hereunder that the Indebtedness remains Obligations remain unpaid, including whenever any Obligor acquires any additional Pipeline Properties, Obligors shall grant to the Administrative Agent for the benefit of the Lenders as security for the Indebtedness a first-priority Lien interest (subject only to Excepted Liens) covering such Properties under the Security InstrumentsMortgages. Such Lien will be created and perfected by and in accordance with the provisions of mortgages, deeds of trust, security agreements and financing statements, or other Security Instruments, all in form and substance satisfactory to the Administrative Agent in its sole discretion and in sufficient executed (and acknowledged where necessary or appropriate) counterparts for recording purposes.

Lien on Pipeline Properties. At all times hereunder that the Indebtedness remains remain unpaid, including whenever any Obligor acquires any additional Pipeline Properties, Obligors shall grant to the Administrative Agent for the benefit of the Lenders as security for the Indebtedness a first-priority Lien interest (subject only to Excepted Liens) covering such Properties under the Security Instruments. Such Lien will be created and perfected by and in accordance with the provisions of mortgages, deeds of trust, security agreements and financing statements, or other Security Instruments, all in form and substance satisfactory to the Administrative Agent in its sole discretion and in sufficient executed (and acknowledged where necessary or appropriate) counterparts for recording purposes.