Priority of Security Interests. Any Security Interest now or hereafter held by or for the benefit of the First Lien Secured Parties (or any of them) shall be senior in right, priority, operation, effect and all other respects to any and all Security Interests now or hereafter held by or for the benefit of the Second Lien Creditors (or any of them).
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Sources: Credit Agreement (Baytex Energy Corp.), Credit Agreement (Baytex Energy Corp.), Credit Agreement (Baytex Energy Corp.)
Priority of Security Interests. Any Security Interest now or hereafter held by or for the benefit of the First Lien Secured Parties (or any of them) shall be senior in right, priority, operation, effect and all other respects to any and all Security Interests now or hereafter held by or for the benefit of the Second Lien Creditors Junior Debt Lenders (or any of them)) from time to time.
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