Common use of First Priority Clause in Contracts

First Priority. Except for Permitted Liens, when the initial Loans are made hereunder, this Agreement, together with the other Loan Documents, will create valid and perfected first priority security interests and liens in and upon the Collateral covered thereby, in each case enforceable against the Borrower or such Subsidiary and all other Persons in all relevant jurisdictions and securing the payment of all Obligations purported to be secured thereby.

First Priority. Except for Permitted Liens, when after application of the initial Loans are made hereunderproceeds of the Term Loan in accordance with Section 2.6 hereof, this Agreement, together with the other Loan Documents, will create valid and perfected first priority security interests and liens in and upon the Collateral covered thereby, in each case enforceable against the Borrower or such Subsidiary and all other Persons in all relevant jurisdictions and securing the payment of all Obligations purported to be secured thereby.

First Priority. Except for Permitted Liens, when the initial Loans are made hereunder, this Agreement, together with the other Loan Documents, will create valid and perfected first priority security interests and liens in and upon the Collateral covered therebyto the extent contemplated by the Security Documents, in each case enforceable against the Borrower or such a Subsidiary and all other Persons in all relevant jurisdictions and securing the payment of all Obligations purported to be secured thereby.

First Priority. Except for Permitted Liens, when the initial Loans are made hereunder, this Agreement, together with the other Loan Documents, will create valid and perfected first priority security interests and liens in and upon the Collateral covered thereby, in each case enforceable against the Borrower or such a Subsidiary and all other Persons in all relevant jurisdictions and securing the payment of all Obligations purported to be secured thereby.