Common use of Security Interest or Lien References Clause in Contracts

Security Interest or Lien References. Notwithstanding anything to the contrary, any reference in any Loan Document to “first priority security interest”, “first priority Liens”, “perfected security interest”, “perfected Liens” or terms with the equivalent meaning shall be deemed to be followed by the phrase “(other than Permitted Liens)”, and such perfection and priority shall be subject to the limitations set forth in Section 5.10(c) of the Credit Agreement, Sections 3.4 and 3.5(b), to any requirements for perfection or priority not expressly required to be taken by this Agreement and to any provisions of any Intercreditor Agreement relating to control and possession of the Pledged Collateral.