Common use of First Priority Lien Clause in Contracts

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.

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 ’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.