Perfected Security Interests. The Administrative Agent, on behalf of the Lenders and the other Secured Parties, has valid, first priority (other than Permitted Encumbrances) security interests in the Collateral, which security interests are perfected to such extent as is provided in the Collateral Documents.
Appears in 4 contracts
Samples: Loan Agreement (Us Airways Inc), Loan Agreement (Us Airways Inc), Loan Agreement (Us Airways Group Inc)