Common use of Validity, effectiveness and ranking of Security Clause in Contracts

Validity, effectiveness and ranking of Security. (a) Each Finance Document to which it is a party does now or, as the case may be, will upon execution and delivery and, where applicable, registration create the Security it purports to create over any assets to which such Security, by its terms, relates, and such Security will, when created or intended to be created, be valid and effective. (b) No third party has or will have any Security (except for Permitted Security) over any assets that are the subject of any Transaction Security granted by it. (c) The Transaction Security granted by it to the Security Agent or any other Secured Party has or will when created or intended to be created have first ranking priority or such other priority it is expressed to have in the Finance Documents and is not subject to any prior ranking or pari passu ranking security. (d) No concurrence, consent or authorisation of any person is required for the creation of or otherwise in connection with any Transaction Security.

Validity, effectiveness and ranking of Security. (a) Each Finance Document to which it is a party does now or, as the case may be, will upon execution and delivery and, where applicable, registration create as provided for in that Finance Document create, the Security it purports to create over any assets to which such Security, by its terms, relates, and such Security will, when created or intended to be created, be valid and effective. (b) No third party has or will have any Security (except for Permitted Security) over any assets that are the subject of any Transaction Security granted by it. (c) The Transaction Security granted by it to the Security Agent or any other Secured Party has or will when created or intended to be created have first ranking priority or such other priority it is expressed to have in the Finance Documents and is not subject to any prior ranking or pari passu ranking securitySecurity. (d) No concurrence, consent or authorisation of any person is required for the creation of or otherwise in connection with any Transaction Security.

Validity, effectiveness and ranking of Security. (a) Each Finance Document to which it is a party does now or, as the case may be, will upon execution and delivery and, where applicable, registration as provided for in that Finance Document create the Security it purports to create over any assets to which such Security, by its terms, relates, and such Security will, when created or intended to be created, be valid and effective. (b) No third party has or will have any Security (except for Permitted Security) over any assets that are the subject of any Transaction Security granted by it. (c) The Transaction Security granted by it to the Security Agent or any other Secured Party has or will when created or intended to be created have first ranking priority or such other priority it is expressed to have in the Finance Documents and is not subject to any prior ranking or pari passu ranking securitySecurity. (d) No concurrence, consent or authorisation of any person is required for the creation of or otherwise in connection with any Transaction Security.

Validity, effectiveness and ranking of Security. (a) Each Finance Document to which it is a party does now or, as the case may be, will upon execution and delivery andcreate, where applicablesubject to the Perfection Requirements, registration create the Security it purports to create over any assets to which such Security, by its terms, relates, and such Security will, when created or intended to be created, be valid and effective. (b) No third party has or will have any Security (except for Permitted Security) over any assets that are the subject of any Transaction Security granted by it. (c) The Subject to the Perfection Requirements, the Transaction Security granted by it to the Security Agent or any other Secured Party Lender has or will when created or intended to be created have first ranking priority or such other priority it is expressed to have in the Finance Documents and is not subject to any prior ranking or pari passu ranking securitySecurity. (d) No concurrence, consent or authorisation of any person is required for the creation of or otherwise in connection with any Transaction Security.

Validity, effectiveness and ranking of Security. (a) Each Finance Document to which it is a party does now or, as the case may be, will upon execution and delivery and, where applicable, registration as provided for in that Finance Document create the Security it purports to create over any assets to which such Security, by its terms, relates, and such Security will, when created or intended to be created, be valid and effective. (b) No third party has or will have any Security (except for Permitted Security) over any assets that are the subject of any Transaction Security granted by it. (c) The Transaction Security granted by it to the Security Agent or any other Secured Creditor Party has or will when created or intended to be created have first ranking priority or such other priority it is expressed to have in the Finance Documents and is not subject to any prior ranking or pari passu ranking security. (d) No concurrence, consent or authorisation authorization of any person is required for the creation of or otherwise in connection with any Transaction Security.

Validity, effectiveness and ranking of Security. (a) Each Finance Document to which it is a party does now or, as the case may be, will upon execution and delivery andcreate, where applicablesubject to the Perfection Requirements, registration create the Security it purports to create over any assets to which such Security, by its terms, relates, and such Security will, when created or intended to be created, be valid and effective. (b) No third party has or will have any Security (except for Permitted Security) over any assets that are the subject of any Transaction Security granted by it. (c) The Subject to the Perfection Requirements, the Transaction Security granted by it to the Security Agent or any other Secured Party has or will when created or intended to be created have first ranking priority or such other priority it is expressed to have in the Finance Documents and is not subject to any prior ranking or pari passu ranking security. (d) No concurrence, consent or authorisation of any person is required for the creation of or otherwise in connection with any Transaction SecuritySecurity granted by the Transaction Obligors.

Validity, effectiveness and ranking of Security. (a) Each Finance Document to which it is a party does now or, as the case may be, will upon execution and delivery and, where applicable, registration create as provided for in that Finance Document create, subject to the Legal Reservations, the Security it purports to create over any assets to which such Security, by its terms, relates, and such Security will, when created or intended to be created, be valid and effective. (b) No third party has or will have any Security (except for Permitted Security) over any assets that are the subject of any Transaction Security granted by it. (c) The Transaction Security granted by it to the Security Agent or any other Secured Creditor Party has or will when created or intended to be created have first ranking priority or such other priority it is expressed to have in the Finance Documents and is not subject to any prior ranking or pari passu ranking security. (d) No concurrence, consent or authorisation of any person is required for the creation of or otherwise in connection with any Transaction Security.

Validity, effectiveness and ranking of Security. (a) Each Finance Document to which it is a party does now or, as the case may be, will upon execution and delivery andcreate, where applicable, registration create the Security it purports to create over any assets to which such Security, by its terms, relates, and such Security will, when created or intended to be created, be valid and effective. (b) No third party has or will have any Security (except for Permitted Security) over any assets that are the subject of any Transaction Security granted by itit under the Finance Documents to which it is a party in accordance with its terms. (c) The Transaction Security granted by it to the Security Agent or any other Secured Party has or will when created or intended to be created have first ranking priority or such other priority it is expressed to have in the Finance Documents and is not subject to any prior ranking or pari passu ranking securitySecurity. (d) No concurrence, consent or authorisation of any person that is not party to this Agreement is required for the creation of or otherwise in connection with any Transaction Security.

Validity, effectiveness and ranking of Security. (a) Each Finance Document to which it is a party does now or, as the case may be, will upon execution and delivery and, where applicable, registration as provided for in that Finance Document create the Security it purports to create over any assets to which such Security, by its terms, relates, and such Security will, when created or intended to be created, be valid and effective. (b) No third party has or will have any Security (except for Permitted Security) over any assets that are the subject of any Transaction Security granted by it. (c) The Transaction Security granted by it to the Security Agent or any other Secured Creditor Party has or will when created or intended to be created have first ranking priority or, in the case of the Collateral Finance Documents, second ranking priority or such other priority it is expressed to have in the Finance Documents and is not subject to any prior ranking or pari passu ranking security. (d) No concurrence, consent or authorisation of any person is required for the creation of or otherwise in connection with any Transaction Security.