Common use of Perfected First Priority Security Interest Clause in Contracts

Perfected First Priority Security Interest. The Security Interest and lien constitute and will continue to constitute a valid, perfected first priority security interest in such Pledged Collateral in favor of the Pledgee, enforceable as such against all creditors of and purchasers from the Pledgor;

Perfected First Priority Security Interest. The Upon delivery of the ------------------------------------------ Pledged Stock and any other instruments and certificates representing Pledged Collateral, the Security Interest and lien constitute constitutes and will continue to constitute a valid, perfected first priority security interest in such Pledged Collateral in favor of the Pledgee, enforceable as such against all creditors of and purchasers from the Pledgor;