Common use of Validity, Perfection and Priority Clause in Contracts

Validity, Perfection and Priority. The security interests in the Collateral granted to the Secured Party hereunder constitute valid and continuing security interests in the Collateral. Upon the filing of financing statements, naming Debtor as “debtor” and the Secured Party as “secured party” and describing the Collateral, in the filing offices set forth on Exhibit A, the security interests granted to the Secured Party hereunder will constitute valid first-priority perfected security interests in all Collateral with respect to which a security interest can be perfected by the filing of a financing statement, subject only to Permitted Liens.

Appears in 6 contracts

Samples: Security Agreement (Primeenergy Corp), Security Agreement (Primeenergy Corp), Security Agreement (Primeenergy Corp)

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Validity, Perfection and Priority. The security interests in the Collateral granted to the Secured Party hereunder constitute valid and continuing security interests in the Collateral. Upon Assuming the accomplishment of recording and filing of financing statements, in accordance with applicable laws prior to the intervention of rights of other Persons, (such financing statements) naming Debtor as "debtor" and the Secured Party as "secured party" and describing the Collateral, in the filing offices set forth on Exhibit A, the security interests granted to the Secured Party hereunder will constitute valid first-priority perfected security interests in all Collateral with respect to which a security interest can be perfected by the filing of a financing statement, subject only to Permitted Liens.

Appears in 1 contract

Samples: Security Agreement (Primeenergy Corp)

Validity, Perfection and Priority. The security interests in the Collateral granted to the Secured Party hereunder constitute valid and continuing security interests in the Collateral. Upon the filing of financing statements, naming Debtor as "debtor" and the Secured Party as "secured party" and describing the Collateral, in the filing offices set forth on Exhibit A, the security interests granted to the Secured Party hereunder will constitute valid first-priority perfected security interests in all Collateral with respect to which a security interest can be perfected by the filing of a financing statement, subject only to Permitted Liens.

Appears in 1 contract

Samples: Credit Agreement (Middle Bay Oil Co Inc)

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Validity, Perfection and Priority. The security interests in the Collateral granted to the Secured Party hereunder constitute valid and continuing security interests in the Collateral. Upon the filing of financing statements, naming Debtor as “debtor” and the Secured Party as “secured party” and describing the Collateral, in the filing offices set forth on Exhibit A, the security interests granted to the Secured Party hereunder will constitute valid first-priority perfected security interests in all Collateral with respect to which a security interest can be perfected by the filing of a financing statement, subject only to Permitted Liens.as

Appears in 1 contract

Samples: Security Agreement (Edge Petroleum Corp)

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