Common use of Perfected First Priority Security Interest Clause in Contracts

Perfected First Priority Security Interest. This Agreement is effective to create in favor of the Collateral Agent for the ratable benefit of the Secured Parties, a legal, valid and enforceable security interest in the Collateral.

Appears in 1 contract

Sources: Guaranty and Security Agreement (Sequans Communications)

Perfected First Priority Security Interest. This Agreement is effective to create in favor of the Collateral Agent for the ratable benefit of the Secured Parties, a legal, valid and enforceable First Priority security interest in the CollateralCollateral and the Proceeds thereof.

Appears in 1 contract

Sources: Security Agreement (Flyexclusive Inc.)