Common use of Validity, Perfection and Priority of Security Interests Clause in Contracts

Validity, Perfection and Priority of Security Interests. (i) A UCC-1 financing statement naming such Obligor as debtor and the Administrative Agent as secured party has been filed in each of the jurisdictions referred to in Section 2(c) with respect to such Obligor. [representation regarding steps needed to perfect in each foreign jurisdiction to come once jurisdictions have been identified]

Validity, Perfection and Priority of Security Interests. (i) A UCC-1 financing statement naming such Obligor as debtor and the Administrative Agent as secured party has previously been or will be filed within 3 Domestic Business Days after the date hereof in each of the jurisdictions referred to in Section 2(c) with respect to such Obligor. [representation regarding steps needed to perfect in each foreign jurisdiction to come once jurisdictions have been identified].