Priority of Security Interests. The security interests granted by Borrower to Lender are and shall be continuing and indefeasible first-priority security interests in the Collateral, subject to no Liens except for Liens permitted under Section 8.02 hereof.
Appears in 2 contracts
Sources: Loan and Security Agreement (Focal Communications Corp), Loan and Security Agreement (Ixc Communications Inc)
Priority of Security Interests. The security interests granted by Borrower the Borrowers to Lender are and shall be continuing and indefeasible first-priority security interests in the Collateral, subject to no Liens except for Liens permitted under Section 8.02 hereof.
Appears in 2 contracts
Sources: Equipment Loan and Security Agreement (Econophone Inc), Equipment Loan and Security Agreement (Viatel Inc)
Priority of Security Interests. The security interests granted by Borrower to Lender are and shall be continuing and indefeasible first-priority security interests in the Collateral, subject to no Liens except for Liens permitted under Section 8.02 8.2 hereof.
Appears in 1 contract
Sources: Equipment Loan and Security Agreement (GST Telecommunications Inc)
Priority of Security Interests. The security interests granted by Borrower to Lender are and shall be continuing and indefeasible first-priority security interests in the Collateral, subject to no Liens except for Liens Permitted Encumbrances as defined and permitted under Section 8.02 hereof.
Appears in 1 contract
Sources: Loan and Security Agreement (Startec Global Communications Corp)