Examples of First Priority Security Documents in a sentence
Upon any notice of resignation of the Collateral Agent hereunder and under the other First-Priority Security Documents, the Grantors agree to use commercially reasonable efforts to transfer (and maintain the validity and priority of) the Liens in favor of the retiring Collateral Agent under the First-Priority Security Documents to the successor Collateral Agent as promptly as practicable.
Upon the acceptance of a successor’s appointment as Collateral Agent hereunder and under the First-Priority Security Documents, such successor shall succeed to and become vested with all of the rights, powers, privileges and duties of the retiring (or retired) Collateral Agent, and the retiring Collateral Agent shall be discharged from all of its duties and obligations hereunder or under the other First-Priority Security Documents (if not already discharged therefrom as provided above in this Section).
In the event of any conflict or inconsistency between the terms of this Agreement and the terms of any of the other Secured Credit Documents or First-Priority Security Documents, the terms of this Agreement shall govern.
The Collateral Agent may at any time give notice of its resignation as Collateral Agent under this Agreement and the other First-Priority Security Documents to each Authorized Representative and the Issuer.