Common use of Perfection and Priority of Collateral Clause in Contracts

Perfection and Priority of Collateral. The Secured Party has, or upon proper recording of a financing statement will have and will continue to have as security for the Obligations, a valid and perfected Lien on all Collateral of each Debtor to the extent such Lien may be perfected by the filing of a financing statement in the jurisdiction of each Debtor’s location, free of all other Liens, claims and rights of third parties whatsoever, except Permitted Liens.

Perfection and Priority of Collateral. The Upon the execution of this Agreement, Secured Party has, or upon proper recording of a any financing statement statement, the execution of any control agreement or delivery of Collateral to Secured Party’s possession, will have and will continue to have as security for the Obligations, a valid and perfected first priority Lien on on, and security interest in, all Collateral of each Debtor to and the extent such Lien may be perfected by the filing of a financing statement in the jurisdiction of each Debtor’s locationproceeds thereof, free of all other Liens, claims and rights of third parties whatsoever, except Permitted Liens.

Perfection and Priority of Collateral. The Upon the execution of this Agreement, Secured Party has, or upon proper recording of a any financing statement statement, the execution of any control agreement or delivery of Collateral to Secured Party’s possession, will have and will continue to have as security for the Obligations, a valid and perfected Second Priority Lien on on, and security interest in, all Collateral of each Debtor to and the extent such Lien may be perfected by the filing of a financing statement in the jurisdiction of each Debtor’s locationproceeds thereof, free of all other Liens, claims and rights of third parties whatsoever, except Permitted Liens.