Common use of Lien Priority and Perfection Clause in Contracts

Lien Priority and Perfection. Subject only to Permitted Liens, this Security Agreement creates valid and continuing Acceptable Security Interest in the Collateral, securing the payment and performance of all the Secured Obligations. Upon the filing of financing statements with the jurisdictions listed in Schedule 1, the Administrative Agent will have a valid and perfected Acceptable Security Interest in all Collateral that is capable of being perfected by filing financing statements, 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)

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Lien Priority and Perfection. (i) Subject only to Permitted Liens, this Security Agreement creates valid and continuing Acceptable Security Interest in the Collateral, securing the payment and performance of all the Secured Obligations. Upon the filing of financing statements with the jurisdictions listed in Schedule 1, the Administrative Agent will have a valid and perfected Acceptable Security Interest in all Collateral that is capable of being perfected by filing financing statements, subject only to Permitted Liens. (ii) [Reserved].

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

Appears in 2 contracts

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

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

Appears in 1 contract

Samples: Security Agreement (ReoStar Energy CORP)

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

Appears in 1 contract

Samples: Revolving Credit Agreement (Seahawk Drilling, Inc.)

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