Enforceable Lien Clause Samples

Enforceable Lien. The provisions of this Agreement, when the Pledged Securities, certificates or other documents representing or evidencing the Collateral are delivered to the Collateral Agent in accordance with this Agreement, are effective to create, in favor of the Collateral Agent for the benefit of the Secured Parties, a legal, valid, and enforceable Lien on and security interest in all of the Collateral purported to be covered hereby, and all necessary and appropriate recordings and filings have been made in all necessary and appropriate public offices, and all other necessary and appropriate action has been taken, so that this Agreement creates a perfected first priority Lien (subject to Pledgor Permitted Liens) on and security interest in all right, title, estate and interest of the applicable obligor in the Collateral secured hereby, as security for the payment and performance of the Secured Obligations, free and clear of prior and superior to, all other Liens or other adverse claims (subject to Pledgor Permitted Liens).

Enforceable Lien. This Loan Agreement creates a valid and enforceable Lien on the Collateral in favor of Lender, and all filings and other actions necessary or desirable to protect and perfect such Lien have been duly taken or will be taken including without limitation the filing of such UCC-1 financing statements in favor of the Lending Group and the filing by Eagle Lake of such UCC-2 Financing Statement Amendments reflecting the subordination of Eagle Lake to the Lending Group.