Common use of Validity of Security Interests Clause in Contracts

Validity of Security Interests. This Agreement creates legal and valid security interests in all the Collateral securing the payment and performance of the Obligations; provided, however, that, for the avoidance of doubt, the foregoing representation shall not be made with respect to, or construed in accordance with, the laws of any jurisdiction other than the United States, any State thereof or the District of Columbia. The Security Interests are and shall be prior to any other Lien on any of the Collateral, other than Permitted Liens.