First Priority Lien. The Loan Documents after delivery thereof shall for any reason (other than pursuant to the terms thereof) cease to create a valid and perfected first priority lien on the Collateral (subject to the Permitted Liens) purported to be covered, hereby or thereby.
First Priority Lien. Receipt by the Agent of evidence satisfactory in form and substance to the Agent, that the Agent, on behalf of the Lenders, holds a perfected, first priority lien, subject to no other Liens other than Permitted Liens, in the Collateral.
First Priority Lien. The lien against the Pledged Assets granted pursuant to this Agreement constitutes a valid, perfected first priority lien on the Pledged Assets, enforceable as such against all creditors of the Company and any persons purporting to purchase any of the Pledged Assets from the Company.
First Priority Lien. The liens granted to Secured Party under this Agreement will constitute a first priority lien on the Collateral on the filing of a UCC-1
First Priority Lien. The Agent on behalf of the Lenders holds a first priority lien, subject to no other Liens other than Permitted Liens in the Collateral.
First Priority Lien. The security interest granted to Members United hereunder shall constitute a first priority lien upon the Collateral. CUSO will not, without Members United's prior written consent, transfer, discount, sell, grant or assign any interest in the Collateral, or permit any other lien to be created or remain thereon, not herein provided for. (c)
First Priority Lien. The pledge and grant of a security interest in, and delivery of the Pledged Collateral pursuant to this Pledge Agreement, will create a valid first priority perfected Lien on and in the Pledged Collateral pledged by such Pledgor, and the proceeds thereof, securing the payment of the Secured Obligations, subject to no prior Lien, assuming continued possession of the original certificates evidencing the Pledged Equity constituting Pledged Collateral by the Collateral Agent. Separately, the Lien on and in the Pledged Collateral will become a valid first priority Lien upon the due filing of a UCC financing statement describing the Pledged Collateral in the applicable filing offices in the State in which such Pledgor was formed.
First Priority Lien. The Mortgage creates a first lien or a first priority ownership interest in an estate in fee simple in real property securing the related Mortgage Note;
First Priority Lien. Termination or subordination of UCC Financing Statements filed against Borrower or liens recorded against the Premises, as determined by Bank to be necessary to reflect Bank's first priority position in the Collateral;
First Priority Lien. The liens granted to Secured Party under this Agreement will constitute a first priority purchase money security interest and lien on the Collateral subject only to the filing of a UCC-1 Financing Statement and any prior lien set forth in Exhibit A. The lien to Secured Party does not constitute a fraudulent conveyance under any applicable law.
