No General Priority Clause Samples

No General Priority. No Member will have priority over any other Member.
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No General Priority. Except as may be expressly provided in the Separate Series Operating Agreement of a Series with respect to the Series, no Member associated with a Series will have priority over any other Member associated with the Series.
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Related to No General Priority

  • Rights in Collateral; Priority of Liens Borrower and each other Loan Party own the property granted by it as Collateral under the Collateral Documents, free and clear of any and all Liens in favor of third parties. Upon the proper filing of UCC financing statements, and the taking of the other actions required by the Required Lenders, the Liens granted pursuant to the Collateral Documents will constitute valid and enforceable first, prior and perfected Liens on the Collateral in favor of Agent, for the ratable benefit of Agent and Lenders.