Xxxx Priority. Bank fails to have an enforceable first Lien position (except for any Permitted Liens or prior Liens to which Bank has consented in writing) on the Collateral.
Xxxx Priority. Bank fails to have an enforceable first lien ------------- position (except for any prior liens to which Bank has consented in writing) on or security interest in the Collateral that would materially impair Bank's overall security interest provided such failure is not due to the documents prepared by Bank or filings made by Bank.
Xxxx Priority. Xxxxx has not and shall not entered into or grant any security agreement, or permit the filing or attachment of any security interest on or affecting the Property, directly or indirectly, securing repayment of Xxxxx’ Loan and Note, that would be prior or that may in any way be superior to HLC’s deed of trust in the Property.
Xxxx Priority. Lender fails to have a legal, valid binding and enforceable first priority Lien on the Improvements and the Personal Property subject only to Permitted Liens.
Xxxx Priority. Lender fails to have a legal, valid binding and enforceable first priority Lien on the Project and the Personal Property except with respect to any loss of lien priority as the result of any action taken in writing by Lender.
Xxxx Priority. Except as permitted or required under the BOA Loan Agreement or the Related Agreements, no Grantor has entered into or granted, and will not enter into or grant, any security agreements in respect of any Collateral or permitted or permit the filing or attachment of any security interests on or affecting any Collateral that would be prior or that may in any way be superior to Agent’s security interests and rights in and to such Collateral.
Xxxx Priority. Evidence, satisfactory to the Bank, that Bank has a first and prior lien on all collateral for the Credit Facilities, including, without limitation, all Accounts and Inventory (as such terms are defined under the Uniform Commercial Code of Arizona, as in effect from time to time) of Borrower and CRG Holdings, LLC. Such evidence to include (i) termination statements relating to financing statements listing other creditors of Borrower or CRG Holdings, LLC as secured parties, (ii) lien subordination agreements from other creditors of Borrower or CRG Holdings, LLC, and (iii) landlord lien waivers executed by all lessors of leased property where any of the collateral may be located from time to time. Notwithstanding anything contained in this Agreement to the contrary, the failure of the Borrower to satisfy all the conditions precedent to the initial extension of credit set forth above on or before that date which is sixty (60) days from the date of this Agreement shall constitute a default by Borrower under this Agreement.
Xxxx Priority. Lender fails to have a legal, valid, binding, and enforceable first priority Lien on the Collateral.
Xxxx Priority. Lender fails to have a legal, valid, binding and enforceable first priority Lien on any Project or any Personal Property.
Xxxx Priority. The security interest granted hereby shall at all times be a valid and perfected first priority security interest, subject only Permitted Encumbrances, if any, set forth in the Schedule, enforceable against Borrower and all third parties. Borrower shall not permit any financing statement or other instruments similar in effect covering all or any part of the Collateral to be filed or recorded, other than with respect to Permitted Encumbrances, without the prior written consent of Lender. Without limiting the foregoing, Borrower shall not obtain a merchant cash advance loan or any other arrangement wherein Borrower sells or assigns its accounts or future cash.
