Common use of Validity of Liens Clause in Contracts

Validity of Liens. The Security Documents shall be effective to create in favor of the Agent a legal, valid and enforceable first priority (except for Permitted Liens entitled to priority under applicable law) security interest in and Lien upon the Collateral, as and to the extent provided therein. All filings, recordings, deliveries of instruments and other actions necessary or desirable in the reasonable opinion of the Agent to protect and preserve such security interests shall have been duly effected or arrangements to effect the same shall have been made reasonably satisfactory to the Agent. The Agent shall have received evidence thereof in form and substance satisfactory to the Agent.

Validity of Liens. The Security Documents shall be effective to ----------------- create and continue in favor of the Agent a legal, valid and enforceable first priority (except for Permitted Liens entitled to priority under applicable law) security interest in and Lien lien upon the Collateral, as and to the extent provided therein. All filings, recordings, deliveries of instruments and other actions necessary or desirable in the reasonable opinion of the Agent to protect and preserve such security interests shall have been duly effected effected, or arrangements provision satisfactory to effect the same Agent for such filings, recordings and other actions shall have been made reasonably satisfactory to the Agentmade. The Agent shall have received evidence thereof in form and substance satisfactory to the Agent.

Validity of Liens. The Security Documents shall be effective to create in favor of the Agent, for the benefit of the Agent and the Banks, a legal, valid and enforceable first priority (except for Permitted Liens entitled to priority under applicable law) security interest in and Lien upon the Collateral, as and to the extent provided therein. All filings, recordings, deliveries of instruments and other actions necessary or desirable in the reasonable opinion of the Agent to protect and preserve such security interests shall have been duly effected or arrangements to effect the same shall have been made reasonably satisfactory to the Agent. The Agent shall have received evidence thereof in form and substance satisfactory to the Agent.

Validity of Liens. The Security Documents shall be effective to create in favor of the Agent Documentation Agent, for the benefit of the Banks and the Agents, a legal, legal valid and enforceable first priority (except for Permitted Liens entitled to priority under applicable law) security interest in and Lien lien upon the Collateral, as and to including, without limitation, a first preferred mortgage on each of the extent provided thereinVessels constituting Collateral. All filings, recordings, deliveries of instruments and other actions necessary or desirable in the reasonable opinion of the Documentation Agent to protect and preserve such security interests shall have been duly effected or arrangements to effect the same shall have been made reasonably satisfactory to the Agenteffected. The Documentation Agent shall have received evidence thereof in form and substance satisfactory to the Documentation Agent.

Validity of Liens. The Security Documents shall be effective to create in favor of the Agent a legal, valid and enforceable first priority (except for Permitted Liens entitled to priority under applicable law) security interest in and Lien lien upon the Collateral, Collateral (with such exceptions to a lien on all assets of the Transaction Parties as and to are consistent with those accepted by the extent provided thereinAgent under the First Restated Credit Agreement). All filings, recordings, deliveries of instruments and other actions necessary or desirable in the reasonable opinion of the Agent to protect and preserve such security interests shall have been duly effected or arrangements to effect the same shall have been made reasonably satisfactory to the Agenteffected. The Agent shall have received evidence thereof in form and substance satisfactory to the Agent.

Validity of Liens. The After the filings, recordings and other actions referred to in this Section 11.5 have been made, the Security Documents shall be effective to create in favor of the Agent a legal, valid and enforceable first priority (except for Permitted Liens entitled to priority under applicable lawApplicable Law) security interest in and Lien upon the Collateral, as . The Agent shall have received all documents and to instruments necessary for the extent provided therein. All filings, recordings, deliveries of instruments filings and recordings and other actions necessary or desirable in the reasonable opinion of the Agent to protect and preserve such security interests shall have been duly effected or arrangements to effect the same shall have been made reasonably satisfactory to the Agentinterests. The Agent shall have received evidence thereof in form and substance satisfactory to the Agent.