Common use of Perfected Priority Liens Clause in Contracts

Perfected Priority Liens. (a) This Agreement is effective to create, as collateral security for the Secured Obligations of such Grantor, valid and enforceable Liens on such Grantor's Collateral in favor of the Co-Agents, for the benefit of the Secured Parties, except as enforceability may be affected by bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium and other similar laws relating to or affecting creditor's rights generally, general equitable principles (whether considered in a proceeding in equity or at law) and an implied covenant of good faith and fair dealing.

Perfected Priority Liens. (a) This As of the date hereof, this Agreement is effective to create, as collateral security for the Secured Obligations of such GrantorObligations, valid and enforceable Liens on such Grantor's the Collateral in favor of the Co-Agents, Agents for the benefit of the Secured Parties, Parties except as enforceability may be affected by bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium and other similar laws relating to or affecting creditor's creditors' rights generally, general equitable principles (whether considered in a proceeding in equity or at law) and an implied covenant of good faith and fair dealing.