First Perfected Security Interest Clause Samples
First Perfected Security Interest. Except for Permitted Liens, upon the execution and delivery of this Letter Agreement and the Security Agreement and the due filing of the Uniform Commercial Code financing statements required to be executed and filed from time to time, the Secured Parties will have a legal, valid and enforceable first priority security interest (i) in the rights, titles and interests of the Company in and to the Fuel Lease and (ii) in and to the other Collateral. Such security interest will constitute a perfected security interest in the Collateral consisting of Nuclear Material Contracts and the Collateral consisting of Nuclear Material located in the States of Illinois, Kentucky, Ohio, Pennsylvania and Virginia, except for any such Collateral which consists of cash, instruments (as defined in the New York Uniform Commercial Code) and other items in which a security interest may only be perfected by possession, enforceable against all third parties as security for the Secured Obligations.
First Perfected Security Interest. The Security Agreement is effective to create in favor of the Secured Parties (as defined therein) a legal, valid and enforceable first lien on and security interest in all of the collateral purported to be covered thereby, and all filings, recordings and other actions that are necessary in order to establish, preserve and perfect the Secured Parties' lien on, and security interest in, the collateral as a legal, valid and enforceable first lien and security interest, shall have been duly effected upon the due filing of the Uniform Commercial Code financing statements, except that the foregoing representation shall not be deemed to be violated as a result of the existence or priority of any lien permitted under Section 8.02 hereof.
First Perfected Security Interest. The Mezzanine Loan Documents create a valid, first perfected security interest and lien on all property owned by Borrowers.
First Perfected Security Interest. All filings (including, UCC filings) shall have been made and all actions shall have been taken necessary in any jurisdiction to give the Indenture Trustee a first perfected security interest in the Secured Notes.