Common use of Perfection and Priority Clause in Contracts

Perfection and Priority. This Agreement and the other Loan Documents are effective to create in favor of Lender legal, valid and enforceable Liens in all right, title and interest of Borrower in the Collateral, and when financing statements have been filed in the offices of the jurisdictions shown on Schedule 5.19, attached hereto and made part hereof under Borrower's name, Borrower will have granted to Lender, and Lender will have perfected first priority Liens in the Collateral, superior in right to any and all other Liens, existing or future.

Appears in 1 contract

Samples: Loan and Security Agreement (Lakeland Industries Inc)

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Perfection and Priority. This Agreement and the other Loan Documents ----------------------- are effective to create in favor of Lender legal, valid and enforceable Liens in all right, title and interest of Borrower Borrowers in the Collateral, and when financing statements have been filed in the offices of in the jurisdictions shown on Schedule 5.19, "5.20" attached hereto and made a part hereof under Borrower's nameBorrowers' names, Borrower Borrowers will have granted to Lender, and Lender will have perfected first priority Liens in the Collateral, superior in right to any and all other Liens, existing or future.

Appears in 1 contract

Samples: Loan and Security Agreement (Opinion Research Corp)

Perfection and Priority. This Agreement and the other Loan Documents are effective to create in favor of Lender legal, a legally valid and enforceable Liens in all right, title and security interest of Borrower in the CollateralCollateral and, and when financing statements have been filed in the offices of the jurisdictions shown listed on Schedule 5.19, 4.20 attached hereto and made part hereof under Borrower's namehereto, Borrower will have granted to Lender, Lender and Lender will have obtained a perfected first priority Liens security interest in the Collateral, Collateral superior in right to any and all other Liensliens, existing security interests or encumbrances now or in the future.

Appears in 1 contract

Samples: Loan and Security Agreement (Numerex Corp /Pa/)

Perfection and Priority. This Agreement and the other Loan Documents are effective to create in favor of Lender legal, valid and enforceable Liens in all right, title and interest of Borrower in the Collateral, and when financing statements have been filed in the offices of the jurisdictions shown on Schedule 5.19, 5.19 attached hereto and made part hereof under Borrower's ’s name, Borrower will have granted to Lender, and Lender will have perfected first priority (except for Liens in favor of Lender under the Term Loan Documents) Liens in the Collateral, superior in right to any and all other Liens, existing or future.

Appears in 1 contract

Samples: Loan and Security Agreement (Newtek Business Services Inc)

Perfection and Priority. This Agreement and the other Loan Documents are effective to create in favor of Lender legal, valid and enforceable Liens in all right, title and interest of Borrower in the Collateral, and when financing statements have been filed in the offices of the jurisdictions shown on Schedule "5.19, " attached hereto and made a part hereof under Borrower's name, Borrower will have granted to Lender, and Lender will have perfected first priority Liens in the Collateral, superior in right to any and all other existing Liens (other than Permitted Liens, existing or future).

Appears in 1 contract

Samples: Loan and Security Agreement (Blonder Tongue Laboratories Inc)

Perfection and Priority. This Agreement and the other Loan Documents are effective to create in favor of Lender legal, valid and enforceable Liens in all right, title and interest of Borrower in the Collateral, and when financing statements have been filed in the offices of the jurisdictions shown on Schedule 5.19, ,” attached hereto and made part hereof under Borrower's ’s name, Borrower will have granted to Lender, and Lender will have perfected first priority Liens in the CollateralCollateral under the UCC, superior in right to any and all other Liens, existing or future.

Appears in 1 contract

Samples: Loan and Security Agreement ('Mktg, Inc.')

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Perfection and Priority. This Agreement and the other Loan Documents are effective to create in favor of Lender legal, valid and enforceable Liens in all right, title and interest of Borrower in the Collateral, and when financing statements have been filed in the offices of the jurisdictions shown on Schedule "5.19, ," attached hereto and made part hereof under Borrower's name, Borrower will have granted to Lender, and Lender will have perfected first priority Liens in the Collateral, superior in right to any and all other Liens, existing or future.

Appears in 1 contract

Samples: Loan and Security Agreement (American Technical Ceramics Corp)

Perfection and Priority. This Agreement and the other Loan Documents are effective to create in favor of Lender legal, valid and enforceable Liens in all right, title and interest of Borrower in the Collateral, and when financing statements have been filed in the offices of the jurisdictions shown on Schedule "5.19, ," attached hereto and made part hereof under Borrower's name, Borrower will have granted to Lender, and Lender will have perfected first priority Liens in the Collateral, superior in right to any and all other Liens, existing or future.

Appears in 1 contract

Samples: Loan and Security Agreement (WPCS International Inc)

Perfection and Priority. This Agreement and the other Loan Documents are effective to create in favor of Lender legal, valid and enforceable Liens in all right, title and interest of Borrower in the Collateral, and when financing statements have been filed in the offices of the jurisdictions shown on Schedule 5.19, ,” attached hereto and made part hereof under Borrower's ’s name, Borrower will have granted to Lender, and Lender will have perfected first priority Liens in the Collateral, superior in right to any and all other Liens, existing or future.

Appears in 1 contract

Samples: Loan and Security Agreement (Newtek Business Services Inc)

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