Common use of Liens; Priority Clause in Contracts

Liens; Priority. The Required Lenders shall be satisfied that Collateral Agent has been granted, and still continues to hold, for the benefit of the Agents and the Lenders a perfected, first priority Lien on and security interest in all of the Collateral, subject only to Permitted Priority Liens. At the request of the Required Lenders, Collateral Agent shall receive UCC, tax and judgment Lien searches and title reports with respect to all real property owned by the Loan Parties and other appropriate evidence, evidencing the absence of any Liens or mortgages on the Collateral, except Permitted Liens.

Liens; Priority. The Required Lenders Collateral Agent shall be satisfied that Collateral Agent it has been granted, and still continues to hold, for the benefit of the Agents and the Lenders Lenders, a perfected, first priority Lien on and security interest in all of the Collateral, subject only to Permitted Priority Liens. At the request of the Required LendersCollateral Agent, the Collateral Agent shall receive UCC, tax and judgment Lien searches and title reports and, solely with respect to all real property owned by the Loan Parties Principal Properties, title reports, and other appropriate evidence, evidencing the absence of any Liens or mortgages on the Collateral, except Permitted Liens.