Enforceability; Priority of Security Interest. (i) This Agreement creates a security interest which is enforceable against the Collateral in which the Company now has rights and will create a security interest which is enforceable against the Collateral in which the Company hereafter acquires rights at the time the Company acquires any such rights; and (ii) Xxxx has a perfected and first priority security interest in the Collateral, in which the Company now has rights, and will have a perfected and first priority security interest in the Collateral in which the Company hereafter acquires rights at the time the Company acquires any such rights, in each case, subject to Permitted Liens and securing the payment and performance of the Secured Obligations.
Appears in 2 contracts
Samples: Pledge and Security Agreement (Par Pacific Holdings, Inc.), Pledge and Security Agreement (Par Petroleum Corp/Co)
Enforceability; Priority of Security Interest. (i) This Agreement creates a security interest which is enforceable against the Collateral in which the Company Borrower now has rights and will create a security interest which is enforceable against the Collateral in which the Company Borrower hereafter acquires rights at the time the Company Borrower acquires any such rights; and (ii) Xxxx the Lender has a perfected and first priority security interest in the Collateral, in which the Company now has rights, and will have a perfected and first priority security interest in the Collateral in which the Company Borrower now has rights, and will have a first priority security interest in the Collateral in which the Borrower hereafter acquires rights at the time the Company Borrower acquires any such rights, in each case, subject to Permitted Liens and case securing the payment and performance of the Secured Obligations.
Appears in 1 contract
Samples: Security Agreement (Hannon Armstrong Sustainable Infrastructure Capital, Inc.)
Enforceability; Priority of Security Interest. (i) This Agreement creates a security interest which is enforceable against the Collateral in which the Company now has rights and will create a security interest which is enforceable against the Collateral in which the Company hereafter acquires rights at the time the Company acquires any such rights; and (ii) Xxxx subject to the filing of any financing statements or other filings necessary to perfect a security interest in the Collateral, including without limitation those in connection with the assignment under Section 1(f) hereof, the Collateral Agent or the Sub-Collateral Agent, as the case may be, has a perfected and first priority security interest in the Collateral, in which the Company now has rights, and will have a perfected and first priority security interest in the Collateral in which the Company hereafter acquires rights at the time the Company acquires any such rights, in each case, subject to Permitted Liens permitted by the Secured Transaction Documents and securing the payment and performance of the Secured Obligations.
Appears in 1 contract
Samples: Third Amended and Restated Security Agreement (Par Pacific Holdings, Inc.)
Enforceability; Priority of Security Interest. (i) This Agreement creates a security interest which is enforceable against the Collateral in which the Company now has rights and will create a security interest which is enforceable against the Collateral in which the Company hereafter acquires rights at the time the Company acquires any such rights; and (ii) Xxxx has the Investors have a perfected and (except as disclosed in Schedule 4(e)) first priority security interest in the Collateral, in which the Company now has rights, and will have a perfected and first priority security interest in the Collateral in which the Company hereafter acquires rights at the time the Company acquires any such rights, in each case, subject to Permitted Liens and case securing the payment and performance of the Secured Obligations.
Appears in 1 contract
