Common use of Lien Priorities Clause in Contracts

Lien Priorities. The parties to this Agreement expressly agree that the security interests and liens granted to the Senior Lenders and/or the Agent shall secure the Senior Indebtedness on a pari passu basis for the benefit of the Senior Lenders, notwithstanding the relative priority or the time of grant, creation, attachment or perfection under applicable law of any security interests and liens, if any, of the Senior Lenders upon or in any of the Collateral to secure any Senior Indebtedness, whether such security interests and liens are now existing or hereafter acquired or arising and whether such security interests and liens are in or upon now existing or hereafter arising Collateral.