Common use of First Priority Interest Clause in Contracts

First Priority Interest. The Administrative Agent, for the benefit of itself, the Fronting Banks, the L/C Issuers, the L/C Administrator and the Lenders, has a first priority perfected security interest in the Collateral, if any, pledged by each Loan Party pursuant to this Agreement (if ever) or any applicable Security Agreement.

First Priority Interest. The Administrative Agent, for the benefit of itself, the Fronting Banks, the L/C Issuers, the L/C Administrator and the Lenders, has a first priority perfected security interest in the Collateral, if any, pledged by each Loan Party pursuant to this Agreement (if ever) or any applicable Security Agreement.. 5.18

First Priority Interest. The Administrative Agent, for the benefit of itself, the Fronting Banks, the L/C Issuers, the L/C Administrator and the Lenders, has a first priority (subject only to Liens of the type described in Sections 7.01(b) and (n)) perfected security interest in the Collateral, if any, Collateral pledged by each Loan Party Investment Entity pursuant to this Agreement (if ever) or any applicable the Security AgreementAgreements.

First Priority Interest. The Administrative Agent, for the benefit of itself, the Fronting Banks, the L/C Issuers, the L/C Administrator and the Lenders, has a first priority perfected security interest in the Collateral, if any, pledged by each Loan Party Borrower pursuant to this Agreement (if ever) or any applicable its respective Security Agreement.

First Priority Interest. The Administrative Agent, for the benefit of itself, the Fronting Banks, the L/C IssuersBank, the L/C Administrator and the Lenders, has a first priority (subject only to Liens of the type described in Sections 7.06(b) and (n) to the extent set forth in the applicable Control Agreement) perfected security interest in the Collateral, if any, Collateral pledged by each Loan Party Borrower pursuant to this Agreement (if ever) or any applicable its respective Security Agreement.