Common use of Permitted Liens and Relative Priorities Clause in Contracts

Permitted Liens and Relative Priorities. As between the Secured Creditors, notwithstanding: (a) the terms (including the description of collateral), dating, execution, or delivery of any document, instrument, or agreement; the time, order, occurrence, method, or manner of granting, or perfection of any security interest or lien; the time of filing or recording of any financing statements, assignments, deeds of trust, mortgages, or any other documents, instruments, or agreements under the UCC or any other applicable law; (b) the existence of (or the order in which any Secured Creditor becomes a party to or a beneficiary of) any collateral agency arrangement with any party other than a Secured Creditor, or the appointment of such other party as a collateral agent to perfect the Secured Creditors' liens and security interests, in all or in any part of the Collateral; (c) the existence of any control agreement in favor of any Secured Creditor; or (d) any provision of the UCC or any other applicable law to the contrary, the Secured Creditors agree that, as to the Collateral of Debtor:

Permitted Liens and Relative Priorities. (a) As between the Secured Creditors, notwithstanding: notwithstanding (ai) the terms (including the description of collateral), dating, execution, or delivery of any document, instrument, or agreement; the time, order, occurrence, method, or manner of grantinggrant, attachment or perfection of any security interest or lien; the time of filing or recording of any financing statements, assignments, deeds of trust, mortgages, or any other documents, instruments, or agreements under the UCC or any other applicable law; , (bii) the existence of (or the order in which any Secured Creditor becomes a party to or a beneficiary of) any collateral agency arrangement with any party other than a Secured Creditor, or the appointment of such other party as a collateral agent to perfect the Secured Creditors' ’ liens and security interests, in all or in any part of the Collateral; , (ciii) the existence of any control agreement in favor of any Secured Creditor; Creditor or (div) any provision of the UCC or any other applicable law statute, rule, law, or court decision to the contrary, the Secured Creditors agree that, as to the Collateral of Debtoreach Obligor: