Common use of Enforceability; Priority of Security Interest Clause in Contracts

Enforceability; Priority of Security Interest. This Agreement (i) creates an enforceable perfected and first priority security interest in and pledge of the Pledged Collateral upon delivery thereof pursuant to Section 2(b), and (ii) will create an enforceable perfected and first priority security interest in and pledge of the Additional Collateral upon delivery thereof pursuant to Section 2(d) (or upon the taking of such other action with respect thereto as may be requested by the Administrative Agent pursuant to Section 2(e)), in each case securing the payment and performance of the Secured Obligations.

Enforceability; Priority of Security Interest. This Agreement (i) creates an enforceable enforceable, perfected and first first-priority security interest in and pledge of the Pledged Collateral upon delivery thereof or other actions required pursuant to Section 2(b)2, and (ii) will create an enforceable enforceable, perfected and first first-priority security interest in and pledge of the Additional Collateral upon delivery thereof pursuant to Section 2(d2(c) (or upon the taking of such other action with respect thereto as may be requested by the Administrative Agent pursuant to Section 2(e)2(d), in each case securing the payment and performance of the Secured Obligations. The Grantor agrees that the foregoing representations and warranties shall be deemed to have been made by it on the date of each delivery of Pledged Collateral hereunder.

Enforceability; Priority of Security Interest. This Agreement (i) creates an enforceable perfected and first priority security interest in and pledge of the Pledged Collateral upon delivery thereof pursuant to Section 2(b), and (ii) will create an enforceable perfected and first priority security interest in and pledge of the Additional Collateral upon delivery thereof pursuant to Section 2(d2(c) (or upon the taking of such other action with respect thereto as may be requested by the Administrative Collateral Agent pursuant to Section 2(e2(d)), in each case securing the payment and performance of the Secured Obligations. The Grantor agrees that the foregoing representations and warranties shall be deemed to have been made by it on the date of each delivery of Pledged Collateral hereunder.

Enforceability; Priority of Security Interest. This Agreement (i) creates an enforceable perfected and first priority security interest in and pledge of the Pledged Collateral upon delivery thereof pursuant to Section 2(b), and (ii) will create an enforceable perfected and first priority security interest in and pledge of the Additional Collateral upon delivery thereof pursuant to Section 2(d2(c) (or upon the taking of such other action with respect thereto as may be requested by the Administrative Agent Investors pursuant to Section 2(e2(d)), in each case securing the payment and performance of the Secured Obligations. The Company agrees that the foregoing representations and warranties shall be deemed to have been made by it on the date of each delivery of Pledged Collateral hereunder.