Valid and Enforceable Security Interest Clause Samples
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Valid and Enforceable Security Interest. The Indenture creates a valid and continuing security interest (as defined in the applicable UCC) in the Collateral in favor of the Indenture Trustee, which security interest is prior to all other Liens, and is enforceable as such as against creditors of and purchasers from the Issuer;
Valid and Enforceable Security Interest. The pledge and assignment of the Collateral pursuant to this Collateral Assignment creates a valid, enforceable and first-priority security interest in the Collateral, securing the payment of the Obligations, and all filings and other actions necessary or desirable to perfect and protect such security interest (including the priority thereof) have been, or, upon (i) the filing of a Uniform Commercial Code financing statement in the office of the Secretary of State of Texas, and (ii) the obtaining of possession of all Collateral the possession of which is lawfully required to perfect a security interest therein, will have been duly taken to create a valid, enforceable, and perfected first priority security interest in the Collateral.
Valid and Enforceable Security Interest. The Security Agreement, upon its execution and delivery by the Company and the ▇▇▇▇▇▇▇ Subsidiary, will create a valid and enforceable security interest in the Collateral (as defined in the Indenture) in favor of the Trustee, for the benefit of the holders of the Securities.