Liens by Government. Notwithstanding anything to the contrary in this Article III, the Cimarron Trust hereby grants to the Cimarron Trustee, the United States, and Oklahoma a first-priority lien on and security interest in the Cimarron Trust Assets, except with respect to any real property, to secure the payment of all amounts owed to, accrued or reserved on account of the Cimarron Trust or to be retained by the Cimarron Trustee hereunder or otherwise due hereunder. However, only the Cimarron Trustee shall have a first-priority lien on and security interest in the Cimarron Trust Administrative Account and only the United States and Oklahoma shall have a first-priority lien on and security interest in the Cimarron Trust Environmental Cost Accounts. The Cimarron Trust agrees to take appropriate actions and execute appropriate documents to perfect the Cimarron Trustee’s, United States’, and Oklahoma’s liens and security interest hereunder.
Liens by Government. Notwithstanding anything to the contrary in this Article III, the Environmental Response Trust hereby grants to the Environmental Trustee, the United States, the State of Michigan, and the State of Ohio a first-priority lien on and security interest in the Environmental Trust Assets, except with respect to any real property, to secure the payment of all amounts owed to, accrued or reserved on account of the Environmental Response Trust or to be retained by the Environmental Trustee hereunder or otherwise due hereunder. However, only the Environmental Trustee shall have a first-priority lien on and security interest in the Environmental Trust Administrative Account, only EPA shall have a first-priority lien and security interest in the Flint Environmental Cost Account, only the State of Michigan shall have a first-priority lien and security interest in the Saginaw Environmental Cost Account, and only the State of Ohio shall have a first-priority lien on and security interest in the Rootstown Environmental Cost Account. The Environmental Trustee agrees to take appropriate actions and execute appropriate documents so that the Environmental Trustee’s, EPA’s, the State of Michigan’s, and the State of Ohio’s, liens and security interest hereunder are perfected as of the Effective Date. The perfection will require the signatures of the Beneficiaries to be effective.
Liens by Government. Notwithstanding anything to the contrary in this Article 3, the Texas Custodial Trust hereby grants to the TCEQ and the United States, a first-priority lien on and security interest in the Custodial Trust Assets to secure the payment of all amounts owed to, accrued or reserved on account of the Texas Custodial Trust or to be retained by the Custodial Trustee hereunder or otherwise due hereunder. The Texas Custodial Trust agrees to take appropriate actions and execute appropriate documents to perfect the TCEQ’s, and the United States’ liens and security interest hereunder.
Liens by Government. Notwithstanding anything to the contrary in this Article III, the Nevada Trust hereby grants to the Nevada Trustee, the United States, and Nevada a first-priority lien on and security interest in the Nevada Trust Assets, except with respect to any real property, to secure the payment of all amounts owed to or accrued or reserved on account of the Nevada Trust or to be retained by the Nevada Trustee hereunder or otherwise due hereunder and to secure the performance of all Environmental Actions required under the Settlement Agreement. However, only the Nevada Trustee shall have a first-priority lien on and security interest in the Nevada Trust Administrative Account and only the United States and Nevada shall have a first-priority lien on and security interest in the Nevada Trust Environmental Cost Account. The Nevada Trust agrees to take appropriate actions and execute appropriate documents to perfect the Nevada Trustee’s, United States’, and Nevada’s liens and security interest hereunder.
Liens by Government. Subject to the other provisions of this Article III, the West Chicago Trust hereby grants to the West Chicago Trustee/Licensee, the United States, and the State of Illinois a first-priority lien on and security interest in the West Chicago Trust Accounts to secure the payment of all amounts owed to, accrued or reserved on account of the West Chicago Trust or to be retained by the West Chicago Trustee/Licensee hereunder or otherwise due hereunder. However, only the West Chicago Trustee/Licensee shall have a first-priority lien on and security interest in the West Chicago Trust Administrative Account. Only IEMA shall have a first-priority lien on and security interest in the West Chicago Trust Environmental Cost Account for the REF. Only the Lead Agency shall have a first-priority lien on and security interest in the West Chicago Trust Environmental Cost Account for the Owned RAS, the West Chicago Trust Work Account for the Non-Owned RAS, and the West Chicago Trust Work Account for Xxxxx Creek. Only the United States and the State of Illinois shall have a first-priority lien and security interest in the West Chicago Trust Title X Account. The Parties acknowledge, however, that unless an agreement, in the nature of a security and control account agreement, is signed with the financial institution(s) with whom the West Chicago Trust Accounts are invested, the liens and security interest described in this Section 3.4 will not be perfected liens and security interests entitled to priority.
