Prior Liens. Upon the execution and delivery of this Agreement by the Borrower and the Collateral Agent, this Agreement shall supersede all provisions of the Original Security Agreement as of the date of such execution and delivery. The Borrower hereby agrees that, notwithstanding the execution and delivery of this Agreement, the liens and security interests created and provided for under the Original Security Agreement continue in effect under and pursuant to the terms of this Agreement for the benefit of all of the Secured Indebtedness. Nothing herein shall in any manner affect or impair the priority of the liens and security interests created and provided for by the Original Security Agreement as to the indebtedness and obligations which would otherwise be secured thereby prior to giving effect to this Agreement.
Prior Liens. Upon the execution and delivery of this Agreement by the Companies and the Collateral Agent, this Agreement shall supersede all provisions of the Original Subsidiary Security Agreements and Additional Subsidiary Security Agreements as of the date of such execution and delivery. The Companies hereby agree that, notwithstanding the execution and delivery of this Agreement, the liens and security interests created and provided for under the Original Subsidiary Security Agreements and Additional Subsidiary Security Agreements continue in effect under and pursuant to the terms of this Agreement for the benefit of all of the Secured Indebtedness. Nothing herein shall in any manner affect or impair the priority of the liens and security interests created and provided for by the Original Subsidiary Security Agreements and Additional Subsidiary Security Agreements as to the indebtedness and obligations which would otherwise be secured thereby prior to giving effect to this Agreement.
Prior Liens. (iii) The Lien and security interest granted to Mortgagee pursuant to this Mortgage.
Prior Liens. The obligations of certain of the Grantors hereunder are subject to the provisions of agreements entered into in connection with the National City Debt and the M Data Debt. The Lender acknowledges that with respect to the collateral covered by the respective agreements, the Liens securing the National City Debt and the M Data Debt have priority over the Liens granted pursuant to this Agreement. It shall not be a breach of this Agreement for the Grantors to comply with their obligations with respect to the collateral securing the National City Debt and the M Data Debt.
Prior Liens. Default under the terms of any instrument secured by a lien to which this Instrument is subordinated shall constitute default under this Instrument.
Prior Liens. Purchaser understands that the Company has previously granted the liens and encumbrances described on Schedule 3.1(n) attached hereto (“Permitted Liens”), to the lenders identified thereon (the “Senior Lenders”) under its loan agreements with the Senior Lenders and such liens shall have priority over the liens granted under the Security Agreement to secure the Notes.
Prior Liens. Mortgagor shall keep the Premises free from all prior liens (except for those consented to by Mortgagee).
Prior Liens. Notwithstanding the foregoing, Xxxxxx acknowledges that the liens in, on or with respect to the Collateral granted by Borrower in this Note are expressly subordinated and made junior in right, priority, operation and effect to any and all liens granted to (and not released by) any other creditor prior to the date of this Note, including without limitation, to the liens of Xxxxx Fargo Bank, N.A.. Such subordination shall be effective irrespective of the time, order or method of creation, attachment or perfection of any such prior liens granted in favor of the applicable creditors or of any defect or deficiency or alleged defect or deficiency in any such prior lien.
Prior Liens. Schedule 4.26 sets forth a true, correct and complete list of Indebtedness outstanding as at the Closing Date which is secured by any Lien on any of Borrower's or any Subsidiaries' interest in the Real Estate and Leases which is superior to the Lien granted to Agent pursuant to the Loan Documents, the outstanding principal balance due and payable on such Indebtedness as of the respective dates set forth on Schedule 4.26, the interest rate presently payable on such Indebtedness and the monthly payment required to be made in respect thereof; PROVIDED, HOWEVER, that failure to list any Indebtedness secured by any Lien which otherwise constitutes a Permitted Encumbrance shall not constitute an Event of Default. Neither Borrower nor any Subsidiary is in default under any loan document Securing such Indebtedness and no event has Occurred which with the giving of notice, lapse of time or both, would constitute a default thereunder, except for any such default which would not have a Material Adverse Effect.
Prior Liens. Grantor represents and warrants to Grantee that the Premises are subject to no mortgages, liens, leases, restrictions, easements or encumbrances prior in right to this Agreement other than those as set forth more particularly in Exhibit E attached hereto.
