Common use of Priority of Lien on Personalty Clause in Contracts

Priority of Lien on Personalty. No chattel mortgage, xxxx of sale, security agreement, financing statement or other title retention agreement has or will be executed with respect to any materials, fixtures, machinery, equipment or other personal property of the Borrower given as security for the Loan, without the prior written consent of the City.

Priority of Lien on Personalty. No chattel mortgage, deed to secure debt, xxxx of sale, security agreement, financing statement or other title retention agreement (except those executed in favor of Administrative Agent) has been or will be executed with respect to any materialspersonal property, fixtureschattel or fixture used in conjunction with the construction, machinery, equipment operation or other personal property maintenance of the Improvements owned by Borrower given as security for described in the Loan, without the prior written consent of the City.Financing Statement;