Perfected Security Interest. Upon the filing of the UCC-1 financing statements with the Delaware Secretary of State, Lender will have a valid, and duly perfected first priority, security interest in the Collateral enforceable as such against all creditors of Borrower and any Persons purporting to purchase any Pledged Interests and Proceeds from Borrower.
Appears in 11 contracts
Samples: Loan and Security Agreement (Ashford Hospitality Trust Inc), Loan and Security Agreement (Morgans Hotel Group Co.), Loan and Security Agreement (Ashford Hospitality Trust Inc)
Perfected Security Interest. Upon the filing of the UCC-1 a UCC financing statements statement with the Delaware Secretary of StateState of the State of Delaware, the Lender will have a valid, enforceable and duly perfected first prioritypriority (in the case of the Pledged Equity Interests, subject only to the Permitted Encumbrances, and in the case of any other items of Collateral, subject to Permitted Liens) security interest in the Collateral enforceable as such against all creditors of Borrower and any Persons purporting to purchase any Pledged Interests and Proceeds from BorrowerCollateral.
Appears in 1 contract
Samples: Pledge and Security Agreement (Mma Capital Management, LLC)
