Common use of Perfection of Security Interests in the Collateral Clause in Contracts

Perfection of Security Interests in the Collateral. The Collateral Documents create in favor of the Administrative Agent, for the benefit of the Lenders, valid security interests in, and Liens on, the Collateral purported to be covered thereby and described therein, which security interests and Liens will be, upon the timely and proper filings, deliveries, notations and other actions contemplated in the Collateral Documents, perfected security interests and Liens (to the extent that such security interests and Liens can be perfected by such filings, deliveries, notations and other actions), prior to all other Liens other than Permitted Liens.

Perfection of Security Interests in the Collateral. The Collateral Documents create create, in favor of the Administrative Agent, for the benefit of the Lendersholders of the Obligations, valid security interests in, and Liens on, the Collateral purported to be covered thereby and described therein, which security interests and Liens will be, upon the timely and proper filings, deliveries, notations and other actions contemplated in the Collateral Documents, perfected security interests and Liens (to the extent that such security interests and Liens can be perfected by such filings, deliveries, notations and other actions), prior to all other Liens other than Permitted Liens.

Perfection of Security Interests in the Collateral. The Collateral Documents create in favor of the Administrative Agent, for the benefit of the Lenders, valid security interests in, and Liens on, the Collateral purported to be covered thereby and described thereinthereby, which security interests and Liens will beare currently, or, upon the timely and proper filingsfiling of Uniform Commercial Code financing statements, deliveries, notations and notices of security interests in registered IP Rights or other actions contemplated applicable documents in the Collateral Documentsappropriate jurisdictions or the Administrative Agent’s taking possession of such Collateral, as applicable, will be, perfected security interests and Liens (Liens, to the extent that such security interests and Liens can be perfected by such filings, deliveries, notations and other actions)actions contemplated by the Collateral Documents, prior to all other Liens other than Permitted Liens.