Common use of Lien Priority and Perfection Clause in Contracts

Lien Priority and Perfection. (i) Subject only to Permitted Liens, this Security Agreement creates valid and continuing security interests in the Collateral, securing the payment and performance of all the Secured Obligations. Upon the filing of financing statements with the jurisdiction listed in Schedule 1, the security interests granted to the Secured Parties hereunder will constitute valid first-priority perfected security interests in all Collateral with respect to which a security interest can be perfected by the filing of a financing statement, subject only to Permitted Liens.

Appears in 4 contracts

Samples: Security Agreement (Cano Petroleum, Inc), Credit Agreement (Cano Petroleum, Inc), Security Agreement (Cano Petroleum, Inc)

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Lien Priority and Perfection. (i) Subject only to Permitted Liens, this Security Agreement creates valid and continuing security interests in the Collateral, securing the payment and performance of all the Secured Obligations. Upon the filing of financing statements with the jurisdiction listed in Schedule 1, the security interests granted to the Secured Parties Party hereunder will constitute valid first-priority perfected security interests in all Collateral with respect to which a security interest can be perfected by the filing of a financing statement, subject only to Permitted Liens.

Appears in 4 contracts

Samples: Credit Agreement (Holly Energy Partners Lp), Security Agreement (Holly Energy Partners Lp), Security Agreement (Holly Energy Partners Lp)

Lien Priority and Perfection. (i) Subject only to Permitted Liens, this Security Agreement creates valid and continuing security interests in the Collateral, securing the payment and performance of all the Secured Obligations. Upon the filing of financing statements with the jurisdiction jurisdictions listed in Schedule 1, the security interests granted to the Secured Parties Administrative Agent hereunder will constitute valid first-priority perfected security interests in all Collateral with respect to which a security interest can be perfected by the filing of a financing statement, subject only to Permitted Liens.

Appears in 3 contracts

Samples: Credit Agreement (Three Forks, Inc.), Security Agreement (Triangle Petroleum Corp), Security Agreement (ReoStar Energy CORP)

Lien Priority and Perfection. (i) Subject only to Permitted Liens, this Security Agreement creates valid and continuing security interests Acceptable Security Interest in the Collateral, securing the payment and performance of all the Secured Obligations. Upon the filing of financing statements with the jurisdiction jurisdictions listed in Schedule 1, the security interests granted to the Secured Parties hereunder Administrative Agent will constitute have a valid first-priority and perfected security interests Acceptable Security Interest in all Collateral with respect to which a security interest can be that is capable of being perfected by the filing of a financing statementstatements, subject only to Permitted Liens.

Appears in 3 contracts

Samples: Credit Agreement (Berry Petroleum Corp), Credit Agreement (Berry Petroleum Corp), Security Agreement (Berry Petroleum Corp)

Lien Priority and Perfection. (i) Subject only to Permitted Liens, this Security Agreement creates valid and continuing security interests Acceptable Security Interest in the Collateral, securing the payment and performance of all the Secured Obligations. Upon the filing of financing statements with the jurisdiction jurisdictions listed in Schedule 1, the security interests granted to the Secured Parties hereunder Administrative Agent will constitute have a valid first-priority and perfected security interests Acceptable Security Interest in all Collateral with respect to which a security interest can be that is capable of being perfected by the filing of a financing statementstatements, subject only to Permitted Liens.

Appears in 3 contracts

Samples: Credit Agreement (Jagged Peak Energy Inc.), Credit Agreement (Jagged Peak Energy Inc.), Credit Agreement (Jagged Peak Energy Inc.)

Lien Priority and Perfection. (i) Subject only to Permitted Liens, this Security Agreement creates valid and continuing security interests in the Collateral, securing the payment and performance of all the Secured Obligations. Upon the filing of financing statements with the jurisdiction listed in Schedule 1, the security interests granted to the Secured Parties Administrative Agent hereunder will constitute valid first-priority perfected security interests in all Collateral with respect to which a security interest can be perfected by the filing of a financing statement, subject only to Permitted Liens.

Appears in 2 contracts

Samples: Subordinated Security Agreement (Cano Petroleum, Inc), Subordinated Security Agreement (Cano Petroleum, Inc)

Lien Priority and Perfection. (i) Subject only to Permitted Liens, this Security Agreement creates valid and continuing security interests in the Collateral, securing the payment and performance of all the Secured Obligations. Upon the filing of financing statements with the jurisdiction jurisdictions listed in Schedule 1, the security interests granted to the Secured Parties Party hereunder will constitute valid first-priority perfected security interests in all Collateral with respect to which a security interest can be perfected by the filing of a financing statement, subject only to Permitted Subject Liens.

Appears in 2 contracts

Samples: Credit Agreement (Mariner Energy Inc), Credit Agreement (Mariner Energy Resources, Inc.)

Lien Priority and Perfection. (i) Subject only to Permitted Liens, this This Security Agreement creates valid and continuing security interests in the Collateral, securing the payment and performance of all the Secured Obligations. Upon the filing of financing statements with the jurisdiction jurisdiction(s) listed in Schedule 13, the security interests granted to the Secured Parties Administrative Agent hereunder will constitute valid first-priority perfected security interests in all Collateral with respect to which a security interest can be perfected by the filing of a financing statement, subject only to Permitted Liens.

Appears in 2 contracts

Samples: Security Agreement (CorEnergy Infrastructure Trust, Inc.), Security Agreement (CorEnergy Infrastructure Trust, Inc.)

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Lien Priority and Perfection. (i) Subject only to Permitted Liens, this Security Agreement creates valid and continuing security interests in the Collateral, securing the payment and performance of all the Secured Obligations. Upon the filing of financing statements with the jurisdiction jurisdictions listed in Schedule 1, the security interests granted to the Secured Parties Party hereunder will constitute valid first-priority perfected security interests in all Collateral with respect to which a security interest can be perfected by the filing of a financing statement, subject only to Permitted Prior Liens.

Appears in 2 contracts

Samples: Credit Agreement (Mariner Energy Inc), Credit Agreement (Mariner Energy Resources, Inc.)

Lien Priority and Perfection. (i) Subject only to Permitted Excepted Liens, this Security Agreement creates valid and continuing security interests in the Collateral, securing the payment and performance of all the Exhibit L – Form of Security Agreement Secured Obligations. Upon the filing of financing statements with the jurisdiction listed in Schedule 1, the security interests granted to the Secured Parties Administrative Agent hereunder will constitute valid first-priority perfected security interests in all Collateral with respect to which a security interest can be perfected by the filing of a financing statement, subject only to Permitted Excepted Liens.

Appears in 1 contract

Samples: Pledge Agreement (Seahawk Drilling, Inc.)

Lien Priority and Perfection. (i) Subject only to Permitted Liens, this Security Agreement creates valid and continuing security interests in the Collateral, securing the payment and performance of all the Secured Obligations. Upon the filing of financing statements by the Secured Party with the jurisdiction jurisdictions listed in Schedule 1, the security interests granted to the Secured Parties Party hereunder will constitute valid first-priority perfected security interests in all Collateral with respect to which a security interest can be perfected by the filing of a financing statement, subject only to Permitted Liens.

Appears in 1 contract

Samples: Credit Agreement (Isramco Inc)

Lien Priority and Perfection. (i) Subject only to Permitted Liens, this Security Agreement creates valid and continuing security interests in the Collateral, securing the payment and performance of all the Secured Obligations. Upon the filing of financing statements with the jurisdiction jurisdictions listed in Schedule 1, the security interests granted to the Secured Parties Party hereunder will constitute valid first-priority perfected security interests in all Collateral with respect to which a security interest can be perfected by the filing of a financing statement, subject only to Permitted Liens.

Appears in 1 contract

Samples: Security Agreement (Callon Petroleum Co)

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