Common use of Creation, Perfection and Priority of Liens Clause in Contracts

Creation, Perfection and Priority of Liens. The Security Documents are effective to create in favor of the Agent, for the benefit of the Holders and the Lenders, a legal, valid, binding, and (upon the filing of the appropriate UCC financing statements and Intellectual Property Security Agreements, the transfer of possession of original certificated securities together with appropriate transfer instruments and the delivery of deposit account control agreements) enforceable perfected first priority (subject to Permitted Liens) security interest and Lien in the Collateral described therein as security for the Obligations to the extent that a legal, valid, binding, and enforceable security interest and Lien in such Collateral may be created under applicable law including without limitation, the uniform commercial code as in effect in any applicable jurisdiction (“UCC”) and any other applicable governmental agencies.

Creation, Perfection and Priority of Liens. The Security Documents are effective to create in favor of the Agent, for the benefit of the Holders and the Lenders, Lenders a legal, valid, binding, and (upon the filing of the appropriate UCC financing statements and Intellectual Property Security Agreements, the transfer of possession of original certificated securities together with appropriate transfer instruments Agreement and the delivery recording of deposit account control agreementsthe Mortgages, if any) enforceable perfected first priority (and, subject to Permitted Liens) , as applicable, first priority security interest and Lien in the Collateral described therein as security for the Obligations obligations under the Notes and other Transaction Documents to the extent that a legal, valid, binding, and enforceable security interest and Lien in such Collateral may be created under applicable law law, including without limitation, with respect to personal property, the uniform commercial code Uniform Commercial Code as in effect in any applicable jurisdiction (“"UCC”") and any other applicable governmental agencies.