Validity of Liens Granted to Lender. Except with respect to the Permitted Exceptions and as provided for in Section 3.16 and Section 3.17 hereof, all Liens granted to the Lender in respect of the Collateral are, and shall continue to be, prior in right and superior to all other Liens granted to, or held by, any other Person.
Appears in 2 contracts
Samples: Loan and Security Agreement (American Skiing Co /Me), Loan and Security Agreement (Asc Holdings Inc)
Validity of Liens Granted to Lender. Except with respect to the Permitted Exceptions and as provided for in Sections 3.15 and Section 3.16 and Section 3.17 hereof, all Liens granted to the Lender in respect of the Collateral are, and shall continue to be, prior in right and superior to all other Liens granted to, or held by, any other Person.
Appears in 2 contracts
Samples: Loan and Security Agreement (Silverleaf Resorts Inc), Loan and Security Agreement (Silverleaf Resorts Inc)
Validity of Liens Granted to Lender. Except with respect to the Permitted Exceptions and as provided for in Section 3.16 and Section 3.17 hereofExceptions, all Liens granted to the Lender in respect of the Collateral are, and shall continue to be, prior in right and superior to all other Liens granted to, or held by, any other Person.
Appears in 1 contract
Samples: General Loan and Security Agreement (Mego Financial Corp)
Validity of Liens Granted to Lender. Except with respect to the Permitted Exceptions and as provided for in Section 3.16 and Section 3.17 hereof, all Liens granted to the Lender in respect of the Collateral are, and shall continue to be, prior in right and superior to all other Liens granted to, or held by, any other Person.
Appears in 1 contract
Samples: Inventory Loan and Security Agreement (Silverleaf Resorts Inc)
