Lien Priority and Perfection. (i) Subject only to Permitted Liens, this Security Agreement creates valid and continuing security interests in the Collateral, securing the payment and performance of all the Secured Obligations. Upon the filing of financing statements with the jurisdiction listed in Schedule 1, the security interests granted to the Secured Parties hereunder will constitute valid first-priority perfected security interests in all Collateral with respect to which a security interest can be perfected by the filing of a financing statement, subject only to Permitted Liens.
Lien Priority and Perfection. The relative priorities of the Liens described in this Section 3 with respect to the Collateral shall be as set forth in the Final DIP Order and the Security Agreement. In accordance with the Final DIP Order, all of the Liens described in this Section 3 shall be effective and perfected upon entry of the Final DIP Order, without the necessity of the execution, recordation or filings by the Credit Parties of security agreements, control agreements, pledge agreements, mortgages, intellectual property filings, notice of Liens, financing statements or other similar instruments or documents, or the possession or control by the Collateral Agent of, or over, any Collateral, or take any other action in order to validate or perfect the Liens and security interests granted by or pursuant to this Agreement, the Final DIP Order or any other Credit Document, as set forth in the Final DIP Order; provided, however, subject to the terms hereof, such effectiveness and perfection shall not preclude the Collateral Agent or the Required Lenders from requesting such execution, recordation or filing that the Collateral Agent or the Required Lenders may deem desirable (including any security documents or actions under laws of the applicable foreign jurisdictions).
Lien Priority and Perfection. The security interest in the Collateral created pursuant to this Security Agreement creates a valid and binding security interest in the Collateral, securing the performance and payment of the Secured Obligations, and such security interests will be perfected first priority security interests upon the filing of appropriate financing statements naming the Debtor as debtor and Collateral Agent as collateral agent in the jurisdictions set forth on the attached Schedule 3.2, or as otherwise notified to the Collateral Agent, to the extent such interest may be perfected under the UCC.
Lien Priority and Perfection. This Security Instrument is a valid and enforceable (and, upon recordation in the Official Records, will be a perfected) first lien on the Property, free and clear of all encumbrances, security interests, and liens having priority over the lien and security interest of this Security Instrument, except for the items set forth as exceptions to or subordinate matters in the title insurance policy insuring the lien of this Security Instrument, none of which, individually or in the aggregate, materially interfere with the benefits of the security intended to be provided by this Security Instrument, materially affect the value or insurability of the Property, impair the use or operation of the Property for the use currently being made thereof or impair Mortgagor’s ability to pay its obligations in a timely manner (such items being the “Permitted Encumbrances”).
Lien Priority and Perfection. (a) This Security Agreement creates valid security interests in the Collateral, securing the payment of the Secured Obligations, and such security interests are or will be perfected first priority security interests, second only to perfected Liens or interests otherwise permitted by the Credit Agreement, (i) in the case of Collateral other than as described in clause (ii) and (iii) below following the filing of a UCC Financing Statement in the form of Annex 2 attached hereto (with the Grantor's name and address filled in under the title "Debtor") in the office(s) set forth on Annex 3 attached hereto, (ii) in the case of Pledged Shares, provided that the Agent retains possession of such Pledged Shares and instruments of transfer or assignment related thereto which were executed in blank and delivered by the Grantor to the Agent prior to the date hereof, and (iii) in the case of titled Revenue Equipment, when the Agent's interest as a secured party is recorded on the certificates of title relating to the Grantor's titled Revenue Equipment (other than certificates of title for Revenue Equipment which is already subject to a Lien permitted by the Credit Agreement) as contemplated by the Custodial Agreement described in Section 4.9 of this Security Agreement.
Lien Priority and Perfection. (a) This Security Agreement creates valid security interests in the Collateral, securing the payment of the Secured Obligations, and such security interests (other than security interests in Property of any Canadian Subsidiary) are or will be perfected first priority security interests, second only to interests otherwise permitted by the Credit Agreement, with respect to each Grantor's Collateral (i) in the case of Collateral other than as described in clauses (ii) and (iii) below following the filing of a UCC Financing Statement in the form of Annex 2 attached hereto (with each Grantor's name and address filed in under the title "Debtor") in the office(s) set forth on Annex 3 attached hereto with respect to such Grantor or in the Accession Agreement executed by such Grantor, (ii) in the case of the Pledged Shares owned by such Grantor, provided that the Agent retains possession of such Pledged Shares and instruments of transfer or assignment related thereto which were executed in blank by such Grantor and
Lien Priority and Perfection. (i) Subject only to Permitted Liens and Liens contemplated by the Intercreditor Agreement, this Agreement creates valid and continuing security interests in the Collateral, securing the payment and performance of all the Secured Obligations. Upon the filing of financing statements with the jurisdictions listed in Schedule 1, the security interests granted to the Administrative Agent hereunder will constitute valid first-priority perfected security interests in all Collateral with respect to which a security interest can be perfected by the filing of a financing statement, subject only to Permitted Liens and Liens contemplated by the Intercreditor Agreement.
Lien Priority and Perfection. Subject only to Permitted Liens, this Security Agreement creates valid and continuing security interests in the Collateral, securing the payment and performance of all the Secured Obligations. Upon the filing of financing statements with the jurisdiction listed in Schedule 1, the security interests granted to the Secured Parties hereunder will constitute valid first-priority perfected security interests in all Collateral with respect to which a security interest can be perfected by the filing of a financing statement, subject only to Permitted Liens. No consent of any other Person and no authorization, approval, or other action by, and no notice to or filing with any Governmental Authority is required (A) for the grant by such Grantor of the pledge, assignment, and security interest granted hereby or for the execution, delivery, or performance of this Security Agreement by such Grantor, (B) for the validity, perfection, or maintenance of the pledge, assignment, lien, and security interest created hereby (including the first-priority (subject to Permitted Liens) nature thereof), except for security interests that cannot be perfected by filing under the UCC, or (C) for the exercise by the Administrative Agent of the rights provided for in this Security Agreement or the remedies in respect of the Collateral pursuant to this Security Agreement, except (1) those consents to assignment of licenses, permits, approvals, and other rights that are as a matter of law not assignable, (2) those consents, approvals, authorizations, actions, notices or filings which have been duly obtained or made and, in the case of the maintenance of perfection, the filing of continuation statements under the UCC, and (3) those filings and actions described in Section 3(c)(i).
Lien Priority and Perfection. On the Closing Date this Second Security Agreement will create valid and continuing security interests in the Collateral, securing the payment of the Secured Obligations. Upon the filing of financing statements in the office(s) set forth on Schedule II attached hereto, the security interests granted to Secured Party hereunder will constitute valid, perfected security interests in all Collateral with respect to which a security interest can be perfected by the filing of a financing statement, subject only to Permitted Liens.
Lien Priority and Perfection. Assuming Secured Party makes the necessary UCC filings within twenty (20) days after the date hereof, this Security Agreement creates a valid and perfected first priority purchase money security interest in the Collateral securing the payment by Debtor Parties of the Secured Obligations. No other authorization, approval or other action by any governmental authority or any other person or entity is necessary to (i) grant the security interest contemplated hereby, (ii) allow Debtor Parties to perform its obligations hereunder or (iii) permit Secured Party to exercise its rights and remedies hereunder.
