Common use of First Priority Security Interest Clause in Contracts

First Priority Security Interest. The security interest in the Collateral granted pursuant to this Agreement creates a valid and perfected security interest in the Collateral, enforceable against Pledgor and all third parties and secures payment of the Obligations, which security interest is first and prior to all other security interests in the Collateral.

First Priority Security Interest. The security interest in the Collateral granted pledge of Pledged Interests pursuant to this Security Agreement creates a valid and perfected first priority security interest in the Collateral, enforceable against Pledgor and all third parties and secures securing payment of the Obligations, which security interest is first and prior to all other security interests in the Collateral.

First Priority Security Interest. The security interest in the Collateral granted pursuant to this Agreement (upon filing of necessary financing statements) creates a valid and perfected security interest in the Collateral, enforceable against Pledgor and all third parties parties, and secures payment of the Obligations, which security interest is first and prior to all other security interests in the CollateralCollateral except for Liens permitted under the Term Loan Agreement.

First Priority Security Interest. The security interest in the Collateral granted pursuant to this Agreement creates a valid and perfected security interest in the Collateral, enforceable against Such Pledgor and all third parties and secures payment of the Obligations, which security interest is first and prior to all other security interests in the Collateral.