Common use of Status of Security Interest Clause in Contracts

Status of Security Interest. (a) upon the filing of financing statements naming each Grantor as “debtor” and the Collateral Agent as “secured party” and describing the Collateral in the filing offices set forth opposite such Grantor’s name on Schedule 5.4 hereof (as such schedule may be amended or supplemented from time to time), the security interest of the Collateral Agent in all Collateral that can be perfected by the filing of a financing statement under the Uniform Commercial Code as in effect in the applicable jurisdiction will constitute a valid, perfected, first priority lien subject to any Permitted Liens with respect to Collateral. Subject to the terms of the Intercreditor Agreement, each agreement purporting to give the Collateral Agent Control over any Collateral is effective to establish the Collateral Agent’s Control of the Collateral subject thereto;

Appears in 2 contracts

Samples: Intercreditor Agreement (Greektown Newco Sub, Inc.), Pledge and Security Agreement (Greektown Superholdings, Inc.)

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Status of Security Interest. (a) upon the filing of financing statements naming each Grantor as “debtor” and the Collateral Agent as “secured party” and describing the Collateral in the filing offices set forth opposite such Grantor’s name on Schedule 5.4 hereof (as such schedule may be amended or supplemented from time to time), the security interest of the Collateral Agent in all Collateral that can be perfected by the filing of a financing statement under the Uniform Commercial Code as in effect in the applicable any jurisdiction will constitute a valid, perfected, first priority lien Lien subject to the Intercreditor Agreement, and, in the case of priority only, to any Permitted Liens with respect to Collateral. Subject to the terms of the Intercreditor Agreement, each Each agreement purporting to give the Collateral Agent Control over any Collateral is effective to establish the Collateral Agent’s Control of the Collateral subject thereto;

Appears in 2 contracts

Samples: Second Lien Pledge and Security Agreement, Second Lien Pledge and Security Agreement (RadNet, Inc.)

Status of Security Interest. (a) upon Upon the filing of financing statements naming each Grantor as “debtor” and the Collateral Agent as “secured party” and describing the Collateral in the filing offices set forth opposite such Grantor’s name on Schedule 5.4 hereof (as such schedule may be amended or supplemented from time to time), the security interest of the Collateral Agent in all Collateral that can be perfected by the filing of a financing statement under the Uniform Commercial Code as in effect in the applicable any jurisdiction will constitute a valid, perfected, first priority lien Lien subject to any Permitted Liens with respect to Collateral. Subject to the terms of the Intercreditor Agreement, each Each agreement purporting to give the Collateral Agent Control over any Collateral is effective to establish the Collateral Agent’s Control of the Collateral subject thereto;

Appears in 2 contracts

Samples: Pledge and Security Agreement (American Casino & Entertainment Properties LLC), First Lien Pledge and Security Agreement (American Casino & Entertainment Properties LLC)

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Status of Security Interest. (a) upon Upon the filing of financing statements naming each Grantor as “debtor” and the Collateral Agent Trustee as “secured party” and describing the Collateral in the filing offices set forth opposite such Grantor’s name on Schedule 5.4 hereof (as such schedule may be amended or supplemented from time to time), the security interest of the Collateral Agent Trustee in all Collateral that can be perfected by the filing of a financing statement under the Uniform Commercial Code as in effect in the applicable any jurisdiction will constitute a valid, perfected, first priority lien Lien subject to any Permitted Liens with respect to Collateral. Subject to the terms of the Intercreditor Agreement, each Each agreement purporting to give the Collateral Agent Trustee Control over any Collateral is effective to establish the Collateral AgentTrustee’s Control of the Collateral subject thereto;.

Appears in 1 contract

Samples: Pledge and Security Agreement (American Casino & Entertainment Properties LLC)

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