Examples of Priority Security Interest in a sentence
Subject to the terms of any Priority Security Interest, the Charge is a first-ranking charge.
Until the indefeasible payment and performance in full of all of the Senior Priority Debt, the Priority Lender Group may dispose of any or all of the Collateral free and clear of the Junior Priority Security Interest collateralizing obligations due from Borrowers, or any of them, to Trustee, through judicial or non-judicial proceedings, in accordance with applicable law, including taking title in lieu of foreclosure.
Maintenance and Perfection of First Priority Security Interest 46 Section 3.19.
TMP shall allow Distributor to grant a bank or funding source a First Priority Security Interest and in the event of such grant shall subjugate to a secondary security interest.
Until Trustee has received written notice of termination of this Agreement, Agent, as the holder of the Senior Priority Security Interest on the Collateral insured, shall have the sole and exclusive right, as against Trustee, to adjust settlement of insurance claims in the event of any covered loss, theft or destruction of such Collateral.
Trustee hereby agrees that any such or other disposition by the Priority Lender Group of the Collateral shall be free and clear of the Junior Priority Security Interest granted by Borrowers or any of them, provided the entire proceeds (after deducting reasonable costs, attorneys’ fees and other expenses of sale) are applied first in reduction of the Senior Priority Debt.
Except for the Priority Security Interest and the Secondary Security Interest, the Collateral is free and clear of all mortgages, security interests, liens, encumbrances and claims of every kind (the “Encumbrances”).
Financing Statements and Other Filings; Maintenance of Perfected Second Priority Security Interest...................
The Security Interest is secondary in interest to the Priority Security Interest held by Pandora Select Partners, L.P., and, pursuant to [that certain Intercreditor Agreement entered into effective November 1, 2005 by and between Lender and Xxxxxx Xxxxx], pari passu with the Secondary Security Interest held by Xxxxxx Xxxxx.
The Security Interest is secondary in interest to the Priority Security Interest held by Pandora Select Partners, L.P., and, pursuant to that certain Intercreditor Agreement entered into effective November 1, 2005 by and between Lender and Pacific Xxxx Capital, LLC, pari passu with the Secondary Security Interest held by Pacific Xxxx Capital, LLC.