Common use of Priority of Security Interests Clause in Contracts

Priority of Security Interests. Notwithstanding (i) the time, order, manner or method of creation, attachment or perfection of the respective Security Interests and/or Liens granted to any Secured Party in or on any or all of the property or assets of the Grantors, (ii) the time or manner of the filing of the financing statements reflecting such Security Interests, (iii) whether any Secured Party or any bailee or agent thereof holds possession of any or all of the property or assets of the Grantors, (iv) the dating, execution or delivery of any agreement, document or instrument granting any Secured Party Security Interests and/or Liens in or on any or all of the property or assets of the Grantors and (v) any provision of the UCC or any other applicable law to the contrary, (y) any and all Security Interests, Liens, rights and interests of the Senior Indenture Trustee and/or holders of Senior Notes, whether now or hereafter arising and howsoever existing, in or on any or all of the Collateral, shall be and hereby are subordinated to any and all Security Interests, Liens, rights and interests of the Administrative Agent in and to the Collateral, and (z) any and all Security Interests, Liens, rights and interests of the Junior Indenture Trustee and/or holders of Junior Notes, whether now or hereafter arising and howsoever existing, in or on any or all of the Collateral, shall be and hereby are subordinated to any and all Security Interests, Liens, rights and interests of the Administrative Agent and the Senior Indenture Trustee and/or holders of Senior Notes in and to the Collateral. For purposes of the foregoing allocation of priorities, any claim of a right of setoff shall be treated in all respects as a Security Interest, and no claimed right of setoff shall be asserted to defeat or diminish the rights or priorities provided for herein.

Priority of Security Interests. Notwithstanding Any Lien which heretofore or hereafter may have been (ior may be) the time, order, manner or method of creation, attachment or perfection of the respective Security Interests and/or Liens granted to any Secured Party Subordinator by Borrower, or retained or reserved by Subordinator in or on Borrower Property (excluding the stock of CHI pledged to Subordinator pursuant to the CHI Stock Pledge), shall be and remain junior, inferior and subordinate to any Lien heretofore or hereafter granted to or retained or reserved by Lender in or on Lender Collateral, and any Lien of Lender in or on Lender Collateral shall be superior to and have priority over any and all Liens of the property Subordinator therein or assets thereon, irrespective of the Grantors, (iia) the time or manner order of attachment, or the filing time or order of the financing statements reflecting such Security Interestsperfection of Liens, (iiib) whether any Secured Party the time of filing or any bailee recording financial statements, mortgages or agent thereof holds other agreements or documents, (c) the time of giving or failure to give notice of acquisition of purchase money or other Liens, (d) the taking of possession of any Borrower Property by Lender or all of the property or assets of the GrantorsSubordinator, (ive) the datingorder in which any loan, execution advance or delivery extension of credit included in the Senior Liabilities or the Subordinated Liabilities is made, or (f) any agreementother matter whatsoever. The subordination and postponement of priority, document or instrument granting any Secured Party Security Interests and/or operation and effect of Subordinator's Liens in the Lender Collateral provided for herein shall have the same force and effect as though Lender's Liens in or on any or all of the property or assets of the Grantors Lender Collateral attached and (v) any provision of the UCC or any other applicable law were perfected prior to the contrarytime Subordinator's Liens attached thereto or thereon and were perfected, (yand shall be effective even though Lender's Liens may not have been perfected. Nothing contained in this Section 4 is intended or shall be deemed or construed to waive the provisions of Section 2(b) above or in any and all Security Interests, Liens, rights and interests event permit the grant by Borrower of the Senior Indenture Trustee and/or holders of Senior Notes, whether now or hereafter arising and howsoever existing, in or any Lien on any or all of Borrower Property to Subordinator (which is, presently, expressly prohibited under the CollateralLoan Agreement), shall be and hereby are subordinated to any and all Security Interests, Liens, rights and interests of the Administrative Agent in except as and to the Collateral, and (z) any and all Security Interests, Liens, rights and interests of the Junior Indenture Trustee and/or holders of Junior Notes, whether now or hereafter arising and howsoever existing, extent consented to by Lender in or on any or all of the Collateral, shall be and hereby are subordinated to any and all Security Interests, Liens, rights and interests of the Administrative Agent and the Senior Indenture Trustee and/or holders of Senior Notes in and to the Collateral. For purposes of the foregoing allocation of priorities, any claim of a right of setoff shall be treated in all respects as a Security Interest, and no claimed right of setoff shall be asserted to defeat or diminish the rights or priorities provided for hereinsuch Section 2(b).

Priority of Security Interests. Notwithstanding Irrespective of (ia) the time, order, manner or method of creation, attachment or perfection of the respective Security Interests security interests and/or Liens liens granted to any Secured Party Trustee or Short Term Lender in or on any or all of the property or assets of the GrantorsDebtor, (iib) the time or manner of the filing of the their respective financing statements reflecting such Security Interestsstatements, (iiic) whether any Secured Party Trustee or Short Term Lender or any bailee or agent thereof holds possession of any or all of the property or assets of the GrantorsDebtor, (ivd) the dating, execution or delivery of any agreement, document or instrument granting any Secured Party Security Interests Trustee or Short Term Lender security interests and/or Liens liens in or on any or all of the property or assets of Debtor, (e) the Grantors giving or failure to give notice of the acquisition or expected acquisition of any purchase money or other security interests and (vf) any provision of the UCC or any other applicable law to the contrary, (y) any and all Security Interestssecurity interests, Liensliens, rights and interests of the Senior Indenture Trustee and/or holders of Senior NotesTrustee, whether now or hereafter arising and howsoever existing, in or on any or all of the Collateral, Short Term Loan Collateral shall be and hereby are subordinated to any and all Security Interestssecurity interests, Liensliens, rights and interests of the Administrative Agent Short Term Lender in and to the Short Term Loan Collateral as security for the Short Term Indebtedness. Trustee shall have no right to take any action with respect to the Short Term Loan Collateral, whether by judicial or non-judicial foreclosure, notification to Debtor’s account debtors, the seeking of the appointment of a receiver for any portion of Debtor’s property or assets or otherwise, or to take possession of any of the Short Term Loan Collateral, unless and (z) any until all of Short Term Indebtedness shall have been fully, finally and indefeasibly paid in cash and all Security Interests, Liens, rights financing arrangements and interests of the Junior Indenture Trustee and/or holders of Junior Notes, whether now or hereafter arising commitments between Debtor and howsoever existing, in or on any or all of the Collateral, shall be and hereby are subordinated to any and all Security Interests, Liens, rights and interests of the Administrative Agent and the Senior Indenture Trustee and/or holders of Senior Notes in and to the CollateralShort Term Lender have been terminated. For purposes of the foregoing allocation of priorities, any claim of a right of setoff shall be treated in all respects as a Security Interest, security interest and no claimed right of setoff shall be asserted to defeat or diminish the rights or priorities provided for herein.

Priority of Security Interests. Notwithstanding (i) the time, order, manner or method of creation, attachment or perfection of the respective Security Interests security interests and/or Liens liens granted to any Secured Party in or on any or all of the property or assets of the Grantors, (ii) the time or manner of the filing of the financing statements reflecting such Security Interestssecurity interests, (iii) whether any Secured Party or any bailee or agent thereof holds possession of any or all of the property or assets of the Grantors, (iv) the dating, execution or delivery of any agreement, document or instrument granting any Secured Party Security Interests security interests and/or Liens liens in or on any or all of the property or assets of the Grantors and (v) any provision of the UCC or any other applicable law to the contrary, (y) any and all Security Interestssecurity interests, Liensliens, rights and interests of the Senior Parent, Indenture Trustee and/or holders of the Senior Notes, whether now or hereafter arising and howsoever existing, in or on any or all of the Collateral, shall be and hereby are subordinated to any and all Security Interestssecurity interests, Liensliens, rights and interests of the Administrative Agent in and to the Collateral, and (z) any and all Security Interests, Liens, rights and interests of the Junior Indenture Trustee and/or holders of Junior Notes, whether now or hereafter arising and howsoever existing, in or on any or all of the Collateral, shall be and hereby are subordinated to any and all Security Interests, Liens, rights and interests of the Administrative Agent and the Senior Indenture Trustee and/or holders of Senior Notes Lender in and to the Collateral. For purposes of the foregoing allocation of priorities, any claim of a right of setoff shall be treated in all respects as a Security Interest, security interest and no claimed right of setoff shall be asserted to defeat or diminish the rights or priorities provided for herein. THE COLLATERAL ACCOUNT. There has been established by the Collateral Trustee and, at all times hereafter until the trusts created by this Agreement shall have terminated, there shall be maintained with the Collateral Trustee at its offices in Wilmington Trust Company, 0000 Xxxxx Xxxxxx Xxxxxx, Xxxxxx Xxxxxx North, Wilmington, Delaware 19890, an account which is entitled the "Collateral Account" (herein called the "Collateral Account"). All moneys received by the Collateral Trustee with respect to all or any part of the Collateral between the receipt by the Collateral Trustee of any Notice of Actionable Default and the withdrawal of all pending Notices of Actionable Default in accordance with the terms of Section 3.1(b) shall be deposited in the Collateral Account and thereafter shall be held, applied and/or disbursed by the Collateral Trustee in accordance with the terms of Section 4.5 of this Agreement. To the extent not distributed pursuant to the terms of Section 4.5 of this Agreement, all moneys received by the Collateral Trustee with respect to all or any part of the Collateral between the receipt by the Collateral Trustee of any Notice of Actionable Default and the withdrawal of all pending Notices of Actionable Default in accordance with the terms of Section 3.1(b) shall be delivered to FNV Capital following the withdrawal, if any, of all pending Notices of Actionable Default in accordance with the terms of Section 3.1(b). All moneys received by the Collateral Trustee with respect to all or any part of the Collateral either (i) prior to the Collateral Trustee's receipt of a Notice of Actionable Default or (ii) after the withdrawal of all pending Notices of Actionable Default in accordance with the terms of Section 3.1(b) and prior to the Collateral Trustee's receipt of any additional Notice of Actionable Default, shall be delivered to FNV Capital.

Priority of Security Interests. Notwithstanding (i) the ------------------------------ time, order, manner or method of creation, attachment or perfection of the respective Security Interests security interests and/or Liens liens granted to any Secured Party in or on any or all of the property or assets of the Grantors, (ii) the time or manner of the filing of the financing statements reflecting such Security Interestssecurity interests, (iii) whether any Secured Party or any bailee or agent thereof holds possession of any or all of the property or assets of the Grantors, (iv) the dating, execution or delivery of any agreement, document or instrument granting any Secured Party Security Interests security interests and/or Liens liens in or on any or all of the property or assets of the Grantors and (v) any provision of the UCC or any other applicable law to the contrary, (y) any and all Security Interestssecurity interests, Liensliens, rights and interests of the Senior Parent, Indenture Trustee and/or holders of the Senior Notes, whether now or hereafter arising and howsoever existing, in or on any or all of the Collateral, shall be and hereby are subordinated to any and all Security Interestssecurity interests, Liensliens, rights and interests of the Administrative Agent in and to the Collateral, and (z) any and all Security Interests, Liens, rights and interests of the Junior Indenture Trustee and/or holders of Junior Notes, whether now or hereafter arising and howsoever existing, in or on any or all of the Collateral, shall be and hereby are subordinated to any and all Security Interests, Liens, rights and interests of the Administrative Agent and the Senior Indenture Trustee and/or holders of Senior Notes Lender in and to the Collateral. For purposes of the foregoing allocation of priorities, any claim of a right of setoff shall be treated in all respects as a Security Interest, security interest and no claimed right of setoff shall be asserted to defeat or diminish the rights or priorities provided for herein.

Priority of Security Interests. Notwithstanding (i) the time, order, manner or method of creation, attachment or perfection any contrary provision of the respective Security Interests and/or Liens granted to any Secured Party in Fiber Exchange Agreement or on any or all of the property or assets of the Grantors, (ii) any priority in time of creation of any lien or other encumbrance on the time GCI Cable Collateral by either GCI Cable or manner of the filing of the financing statements reflecting such Security InterestsAU Agent, or (iii) whether any Secured Party provision of, or any bailee filing or agent thereof holds possession recording under, the Uniform Commercial Code of any or all of the property or assets of the Grantors, (iv) the dating, execution or delivery of any agreement, document or instrument granting any Secured Party Security Interests and/or Liens in or on any or all of the property or assets of the Grantors and (v) any provision of the UCC state or any other applicable law statute, rule or regulation of the United States, the states thereof, their counties, municipalities or other subdivision, or any other applicable jurisdiction, GCI Cable and the Holdings Agent hereby agree that any security interest, pledge, mortgage, lien or other encumbrance granted to the contraryAU Agent by AU in all or any part of the GCI Cable Collateral in order to secure the AU Credit Obligations is and shall be superior and prior in right of claim and payment to any security interest, pledge, mortgage, lien or other encumbrance granted to GCI Cable, whether now existing or hereafter vested, in any of the GCI Cable Collateral regardless of the time (x) when GCI Cable or the AU Agent shall acquire rights to any of the GCI Cable Collateral or (y) when AU incurs any obligations to GCI Cable. GCI Cable and all Security Interests, Liens, rights the Holdings Agent agree that GCI Cable's and interests the Holdings Agent's subordination of the Senior Indenture Trustee and/or holders GCI Cable Security Interest shall continue until the full payment and performance of Senior Notesthe AU Credit Obligations and said subordination shall apply without limitation with respect to any security interest, pledge, mortgage, lien or other encumbrance heretofore or hereafter granted to the AU Agent, in all or any part of the AU Lender Collateral whether now owned or hereafter arising and howsoever existing, in or on any or all of the Collateral, shall be and hereby are subordinated to any and all Security Interests, Liens, rights and interests of the Administrative Agent in and to the Collateral, and (z) any and all Security Interests, Liens, rights and interests of the Junior Indenture Trustee and/or holders of Junior Notes, whether now or hereafter arising and howsoever existing, in or on any or all of the Collateral, shall be and hereby are subordinated to any and all Security Interests, Liens, rights and interests of the Administrative Agent and the Senior Indenture Trustee and/or holders of Senior Notes in and to the Collateral. For purposes of the foregoing allocation of priorities, any claim of a right of setoff shall be treated in all respects as a Security Interest, and no claimed right of setoff shall be asserted to defeat or diminish the rights or priorities provided for hereinacquired.

Priority of Security Interests. Notwithstanding (i) the time, order, manner or method of creation, attachment or perfection of the respective Security Interests security interests and/or Liens liens granted to any Secured Party in or on any or all of the property or assets of the Grantors, (ii) the time or manner of the filing of the financing statements reflecting such Security Interestssecurity interests, (iii) whether any Secured Party or any bailee or agent thereof holds possession of any or all of the property or assets of the Grantors, (iv) the dating, execution or delivery of any agreement, document or instrument granting any Secured Party Security Interests security interests and/or Liens liens in or on any or all of the property or assets of the Grantors and (v) any provision of the UCC or any other applicable law to the contrary, (y) any the Collateral Trustee on behalf of itself and on behalf of the Senior Lenders and the Bank Administrative Agent shall have a first priority security interest in the Senior Priority Collateral. Any and all Security Interestssecurity interests, Liensliens, rights and interests of the 1992 Indenture Trustee, the 1996 Indenture Trustee, the Senior Note Indenture Trustee Trustee, the holders of the 1992 Notes, the holders of the 1996 Notes and/or holders of the Senior Notes, whether now or hereafter arising and howsoever existing, in or on any or all of the Shared Collateral, shall be and hereby are subordinated to any and all Security Interestssecurity interests, Liensliens, rights and interests of the Senior Lenders, the Collateral Trustee and the Bank Administrative Agent in and to the Collateral, and (z) any and all Security Interests, Liens, rights and interests of the Junior Indenture Trustee and/or holders of Junior Notes, whether now or hereafter arising and howsoever existing, in or on any or all of the Collateral, shall be and hereby are subordinated to any and all Security Interests, Liens, rights and interests of the Administrative Agent and the Senior Indenture Trustee and/or holders of Senior Notes in and to the Priority Collateral. For purposes of the foregoing allocation of priorities, any claim of a right of setoff shall be treated in all respects as a Security Interest, security interest and no claimed right of setoff shall be asserted to defeat or diminish the rights or priorities provided for herein.