Common use of Ranking of the Security Clause in Contracts

Ranking of the Security. The Security shall be perfected in all relevant jurisdictions in accordance with the applicable personal property security legislation and shall be first ranking on the property charged thereby, subject to Permitted Encumbrances.

Ranking of the Security. The Security shall be perfected in all relevant jurisdictions in accordance with the applicable personal where material property security legislation intended to be covered thereby is located and shall be first ranking on the property charged covered thereby, subject to Permitted EncumbrancesEncumbrances and the terms of the Intercreditor Agreement.

Ranking of the Security. The Security shall be perfected in all relevant jurisdictions in accordance with the applicable personal property security legislation and shall be first ranking on the property charged thereby, subject to the Permitted Encumbrances, which, for greater certainty, include Encumbrances created in connection with the ABO Loan Agreement.