Prior Security Interest Sample Clauses

Prior Security Interest a valid and enforceable perfected first priority security interest under the Code which is subject only to Liens for taxes not yet due and payable to the extent such prospective tax payments are given priority by statute.
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Prior Security Interest. Except for the due and timely filing or recording of any Security Document (and except for the delivery to the Lender of any Collateral as to which possession is the only method of perfecting a security interest in or Lien on such Collateral), no further action is necessary to establish and perfect the Lender's prior security interest in or shared first Lien on all Collateral other than Collateral subject to Permitted Liens and the Lien created by the TSVLP Security Agreement.
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Prior Security Interest. Secured Party acknowledged that the ----------------------- security interest of Secured Party is subject to the prior and senior security interest of Sirrom Capital Corporation.
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Prior Security Interest. Except for the due and timely filing or recording of any Security Document (and except for the delivery to the Lender of any Collateral as to which possession is the only method of perfecting a security interest in or Lien on such Collateral), no
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Prior Security Interest. With regard to any other security agreement or other lien document purporting to create a prior or subordinate security interest or encumbrance on any Agency Asset, Borrower hereby agrees: (i) to make all payments when due and to perform or comply with all covenants contained therein; (ii) to promptly deliver to Lender any notices that Borrower receives from the holder of such security interest; and (iii) not to allow any modification or extension of nor to request any future advances under any note or agreement secured by the lien document without Lender's prior written consent. Borrower warrants that it has disclosed in writing any such prior or subordinate security interest to Lender and that nothing in this paragraph is to be interpreted to allow Borrower to grant a prior or subordinate security interest in the Agency Assets without Lender's prior written consent.
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Related to Prior Security Interest

  • No Pledge or Security Interest The purpose of the Company’s retention of Executive’s certificates in respect of Unvested Shares and executed security powers is solely to facilitate the repurchase provisions set forth in Section 3 herein and does not constitute a pledge by Executive of, or the granting of a security interest in, the underlying equity.

  • Collateral; Security Interest (a) Pursuant to the Custodial Agreement, the Custodian shall hold the Mortgage Loan Documents as exclusive bailee and agent for the Lender pursuant to terms of the Custodial Agreement and shall deliver to the Lender Trust Receipts (as defined in the Custodial Agreement) each to the effect that it has reviewed such Mortgage Loan Documents in the manner and to the extent required by the Custodial Agreement and identifying any deficiencies in such Mortgage Loan Documents as so reviewed.

  • Valid Security Interest This Agreement creates a valid and continuing security interest (as defined in the applicable UCC) in the Sold Property in favor of the Issuer, which is prior to all other Liens, other than Permitted Liens, and is enforceable against creditors of and purchasers from the Depositor.

  • First Priority Security Interest The Administrative Agent, for the benefit of the Lenders, has a first priority perfected security interest in the collateral pledged by the Borrower pursuant to the Security Agreement.

  • Pledge and Security Interest Each Pledgor hereby unconditionally and irrevocably pledges, grants and hypothecates to the Pledgees, and grants to the Pledgees a continuing first priority security interest in, a first lien upon and a right of set-off against, all of its respective rights, titles and interests of whatsoever kind and nature in (the “Security Interest”), and to secure the complete and timely payment, performance and discharge in full, as the case may be, of all of the obligations pursuant to the Notes, the following (collectively, the “Pledged Collateral”):

  • Perfected Security Interest On the Closing Date, after giving effect to the filing of the FAA Filed Documents and the Financing Statements, Mortgagee shall have received a duly perfected first priority security interest in all of Owner's right, title and interest in the Aircraft, subject only to Permitted Liens.

  • Security Interest/Priority This Security Agreement creates a valid security interest in favor of the Agent, for the benefit of the Lenders, in the Collateral of such Obligor and, when properly perfected by filing, shall constitute a valid perfected security interest in such Collateral, to the extent such security can be perfected by filing under the UCC, free and clear of all Liens except for Permitted Liens.

  • Security Interest This Agreement creates a valid and continuing security interest (as defined in the UCC) in the Receivables in favor of the Issuer, which security interest is prior to all other Liens, and is enforceable as such against creditors of and purchasers from the Seller.

  • Security Interest and Collateral In order to secure the payment and performance of the Secured Obligations, the Debtor hereby grants to the Secured Party a security interest (herein called the “Security Interest”) in and to the following property (hereinafter collectively referred to as the “Collateral”): SEE EXHIBIT A ATTACHED HERETO AND INCORPORATED HEREIN BY THIS REFERENCE.

  • The Security Interests In order to secure the full and punctual observance and performance of the covenants and agreements contained herein and in the Securities Contract:

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