Common use of Validity and Priority of Security Interest Clause in Contracts

Validity and Priority of Security Interest. The provisions of the Loan Documents create legal and valid Liens on the Collateral in favor of the Collateral Agent, for the benefit of the Credit Providers, and such Liens (a) constitute perfected and continuing Liens on the Collateral, securing the Obligations, (b) are enforceable against the applicable Obligated Party and all third parties, and (c) have priority over all other Liens on the Collateral except for those Liens identified in clause (b) through clause (h) or clause (k) through clause (l) of the definition of Permitted Liens (but only to the extent any such Permitted Liens would have priority over the Agent’s Liens pursuant to any Requirement of Law) and Liens perfected only by possession (including possession of any certificate of title) to the extent the Collateral Agent has not obtained or does not maintain possession of such Collateral.

Validity and Priority of Security Interest. The provisions of this Agreement, the Borrower Security Agreement, the Mortgages and/or the other Loan Documents create legal and valid Liens on all the Collateral in favor of the Collateral Agent, for the benefit of the Credit ProvidersAgent and the Lenders, and such Liens (a) constitute perfected and continuing Liens on the Collateral, securing the Obligations, (b) are enforceable against the applicable Obligated Party and all third parties, and (c) have having priority over all other Liens on the Collateral (a) except for those in the case of Liens identified described in clause (b) through c), clause (h) or e), and clause (k) through clause (lf) of the definition of Permitted Liens (but only to the extent any such Permitted Liens would have priority over the Agent’s 's Liens pursuant to any Requirement of LawLaw and (b) except for Liens in certificated vehicles, and Liens perfected only by possession (including possession of any certificate of title) to the extent the Collateral Agent has not obtained or does not maintain possession of such Collateral.

Validity and Priority of Security Interest. The provisions of this Agreement, the Borrower Security Agreement, the Mortgages and/or the other Loan Documents create legal and valid Liens on all the Collateral in favor of the Collateral Agent, for the benefit of the Credit ProvidersAgent and the Lenders, and such Liens (a) constitute perfected and continuing Liens on the Collateral, securing the Obligations, (b) are enforceable against the applicable Obligated Party and all third parties, and (c) have having priority over all other Liens on the Collateral (a) except for those in the case of Liens identified described in clause (b) through c), clause (h) or e), and clause (k) through clause (lf) of the definition of Permitted Liens (but only to the extent any such Permitted Liens would have priority over the Agent’s Liens pursuant to any Requirement of LawLaw and (b) except for Liens in certificated vehicles, and Liens perfected only by possession (including possession of any certificate of title) to the extent the Collateral Agent has not obtained or does not maintain possession of such Collateral.

Validity and Priority of Security Interest. The provisions of this Agreement and the other Loan Documents create legal and valid Liens on all the Collateral in favor of the Collateral Agent, for the benefit of the Credit ProvidersAgent and the Lenders, and such Liens (a) constitute perfected and continuing Liens on the Collateral, securing the Obligations, (b) are enforceable against the applicable Obligated Party and all third parties, and (c) have having priority over all other Liens on the Collateral (a) except for those in the case of Liens identified described in clause clauses (b), (c), (d), (e), (f), (g) through clause and (h) or clause (k) through clause (li) of the definition of Permitted Liens (but only to the extent any such Permitted Liens would have priority over the Agent’s 's Liens pursuant to any Requirement of LawLaw and (b) except for Liens in certificated vehicles, and Liens perfected only by possession (including possession of any certificate of title) to the extent the Collateral Agent has not obtained or does not maintain possession of such Collateral.

Validity and Priority of Security Interest. The provisions of the Loan Documents create legal and valid Liens on the Collateral in favor of the Collateral Administrative Agent, for the benefit of the Administrative Agent and the Credit Providers, and such Liens Liens: (a) constitute perfected and continuing Liens on the Collateral, securing the Obligations, ; (b) are enforceable against the applicable Obligated Party and all third parties, ; and (c) have priority over all other Liens on the Collateral except for those Liens identified in clause (b) through clause (h) or clause (k) through clause (lj) of the definition of Permitted Liens (but only to the extent any such Permitted Liens would have priority over the Agent’s Liens pursuant to any Requirement of Law) and Liens perfected only by possession (including possession of any certificate of title) to the extent the Collateral Administrative Agent has not obtained or does not maintain possession of such Collateral.

Validity and Priority of Security Interest. The provisions of this Agreement, the Loan Mortgages, and the other Purchase Documents create legal and valid Liens on all the Collateral in favor of the Collateral Agent, for the benefit of the Credit ProvidersAgent and the Purchaser, and such Liens (a) constitute perfected and continuing Liens on the Collateral, securing the Obligations, (b) are enforceable against the applicable Obligated Loan Party and all third parties, and (c) have having priority over all other Liens on the Collateral (a) except for those in the case of Liens identified described in clause Section 7.2(b)(i), (bb)(ii) through clause and (h) or clause (k) through clause (lb)(v) of the definition of Permitted Liens (but only to the extent any such Permitted Liens would have priority over the Agent’s Liens pursuant to any Requirement requirement of Lawthe Laws and (b) except for Liens in certificated vehicles, and Liens perfected only by possession (including possession of any certificate of title) to the extent the Collateral Agent has have not obtained or does do not maintain possession of such Collateral.

Validity and Priority of Security Interest. The ------------------------------------------ provisions of this Agreement, the Loan Mortgages, and the other Purchase Documents create legal and valid Liens on all the Collateral in favor of the Collateral Agent, for the benefit of the Credit ProvidersAgent and the Purchaser, and such Liens (a) constitute perfected and continuing Liens on the Collateral, securing the Obligations, (b) are enforceable against the applicable Obligated Loan Party and all third parties, and (c) have having priority over all other Liens on the Collateral (a) except for those in the case of Liens identified described in clause Section 7.2(b)(i), (bb)(ii) through clause and (h) or clause (k) through clause (lb)(v) of the definition of Permitted Liens (but only to the extent any such Permitted Liens would have priority over the Agent’s 's Liens pursuant to any Requirement requirement of Lawthe Laws and (b) except for Liens in certificated vehicles, and Liens perfected only by possession (including possession of any certificate of title) to the extent the Collateral Agent has have not obtained or does do not maintain possession of such Collateral.

Validity and Priority of Security Interest. The provisions of this Agreement, the Mortgages, and the other Loan Documents create legal and valid Liens on all the Collateral in favor of the Collateral Agent, for the benefit of the Credit ProvidersAgent and the Lenders, and such Liens (a) constitute perfected and continuing Liens on the Collateral, securing the Obligations, (b) are enforceable against the applicable Obligated Party Borrower and all third parties, and (c) have having priority over all other Liens on the Collateral (a) except for those in the case of Liens identified described in clause (b) through d), clause (h) or e), and clause (k) through clause (lf) of the definition of Permitted Liens (but only to the extent any such Permitted Liens would have priority over the Agent’s Liens pursuant to any Requirement of LawLaw and (b) except for Liens in certificated vehicles, and Liens perfected only by possession (including possession of any certificate of title) to the extent the Collateral Agent has not obtained or does not maintain possession of such Collateral.