Attachment and Perfection. This Agreement is effective to create a valid and continuing security interest in all of the Collateral in favor of the Collateral Agent for the benefit of the Secured Parties. With respect to each Grantor, upon the filing of all UCC financing statements describing the Collateral and naming such Grantor as debtor and the Collateral Agent as secured party in the filing offices set forth opposite such Grantor’s name on Schedule 3.5, the security interests granted to the Collateral Agent hereunder will constitute perfected Liens with respect to that portion of the Collateral on which a Lien can be perfected by such methods, subject in the case of priority only to Permitted Liens.
Appears in 4 contracts
Samples: Security Agreement (TWC Holding Corp.), Senior Secured Note Security Agreement (155 East Tropicana, LLC), Senior Secured Note Security Agreement (Oasis Interval Ownership, LLC)
