Priority Security Interest. 7. For each of the Receivables, noted that the Title Documents lists Ally Financial Inc. or another subsidiary, including Ally Bank, and its successors as lien holder and that no other lien holder was listed. Step already performed in number 2 above.
Priority Security Interest. The Collateral and Borrowing Base Properties shall be free and clear of all Liens, except Liens permitted by Section 7.2. All filings, notices, recordings and other action necessary to perfect the Liens in the Collateral shall have been made, given or accomplished or arrangements for the completion thereof satisfactory to the Global Administrative Agent and its counsel shall have been made and all filing fees and other expenses related to such actions either have been paid in full or arrangements have been made for their payment in full which are satisfactory to the Global Administrative Agent.
Priority Security Interest. Unless the related Mortgaged Property is owner occupied, the Mortgage File for such Mortgage Loan contains an Assignment of Leases, either as a separate instrument or incorporated into the related Mortgage, which creates in favor of the holder thereof a valid, collateral or first priority assignment of, or a valid first priority security interest in, certain rights under the related leases, subject only to a license granted to the related Mortgagor to exercise certain rights and to perform certain obligations of the lessor under such leases, including the right to operate the related Mortgaged Property. Each related assignment of Mortgage from the Mortgage Loan Seller to the Trustee and any related reassignment of Assignment of Leases, if any, or assignment of any other agreement executed in connection with each Mortgage Loan, from the Mortgage Loan Seller to the Purchaser (or the Trustee as its assignee) has been duly authorized, executed and delivered by the Mortgage Loan Seller, is in recordable form, as appropriate, in order to validly and effectively convey the Mortgage Loan Seller's interest therein to the Purchaser (or the Trustee as its assignee) and constitutes the legal, valid, binding and enforceable assignment from the Mortgage Loan Seller to the Purchaser (or Trustee as its assignee) except as such enforcement may be limited by bankruptcy, insolvency, receivership, reorganization, moratorium, redemption or other laws affecting the enforcement of creditors' rights generally or by general principles of equity (regardless of whether such enforcement is considered in a proceeding in equity or at law).
Priority Security Interest. The Collateral shall be free and clear of all Liens, except Liens permitted by Section 7.2. All filings, notices, recordings and other action necessary to perfect the Liens in the Collateral shall have been made, given or accomplished or arrangements for the completion thereof satisfactory to the Administrative Agent and its counsel shall have been made and all filing fees and other expenses related to such actions either have been paid in full or arrangements have been made for their payment in full which are satisfactory to the Administrative Agent.
Priority Security Interest. To secure Seller’s performance of its obligations under this Agreement, and until released as provided herein, Seller hereby grants to SCE a present and continuing first-priority security interest (“Security Interest”) in, and lien on (and right of setoff against), and assignment of the Performance Assurance, and any and all proceeds resulting therefrom or the liquidation thereof, whether now or hereafter held by, on behalf of, or for the benefit of SCE, and Seller agrees to take such action as SCE reasonably requires in order to perfect SCE’s Security Interest in, and lien on (and right of setoff against), such collateral and any and all proceeds resulting therefrom or from the liquidation thereof. Upon or any time after the occurrence or deemed occurrence and during the continuation of an Event of Default or an Early Termination Date, SCE may do any one or more of the following: Exercise any of its rights and remedies with respect to all Performance Assurance, including any such rights and remedies under law then in effect; Exercise any of its rights of setoff against any and all property of Seller in SCE’s possession; Draw on any outstanding Letter of Credit issued for its benefit; and Liquidate all Performance Assurance then held by or for the benefit of SCE free from any claim or right of any nature whatsoever of Seller, including any equity or right of purchase or redemption by Seller. SCE shall apply the proceeds of the collateral realized upon the exercise of any such rights or remedies to reduce Seller’s obligations under this Agreement (Seller remaining liable for any amounts owing to SCE after such application), subject to SCE’s obligation to return any surplus proceeds remaining after such obligations are satisfied in full. Uniform Commercial Code Waiver. This Agreement sets forth the entirety of the agreement of the Parties regarding credit, collateral, financial assurances and adequate assurances. Except as expressly set forth in this Agreement, including, but not limited to, those provisions set forth in Article Thirteen and Article Three, neither Party: has or will have any obligation to post margin, provide letters of credit, pay deposits, make any other prepayments or provide any other financial assurances, in any form whatsoever, or will have reasonable grounds for insecurity with respect to the creditworthiness of a Party that is complying with the relevant provisions of Article Thirteen and Article Three of this Agreement; and all impl...
Priority Security Interest. The Collateral shall be free and clear of all Liens, except Liens permitted by Section 7.2 of the U.S. Credit Agreement. All filings, notices, recordings and other action necessary to perfect the Liens in the Collateral shall have been made, given or accomplished or arrangements for the completion thereof satisfactory to the Global Administrative Agent and its counsel shall have been made and all filing fees and other expenses related to such actions either have been paid in full or arrangements have been made for their payment in full which are satisfactory to the Global Administrative Agent.
Priority Security Interest. The Collateral and Borrowing Base Properties owned by the Borrower and its Material Subsidiaries shall be free and clear of all Liens, except Permitted Encumbrances. All filings, notices, recordings and other action necessary to perfect the Liens in the Collateral shall have been made, given or accomplished or arrangements for the completion thereof satisfactory to the Global Administrative Agent and its counsel shall have been made and all filing fees and other expenses related to such actions either have been paid in full or arrangements have been made for their payment in full which are satisfactory to the Global Administrative Agent.
Priority Security Interest. (a) Subject to Permitted Liens, as security for the payment and performance of the Obligations, the Grantor hereby pledges, assigns and grants to the Secured Parties, a first priority security interest in all of the Grantor’s right, title and interest in, to and under all of the Collateral that shall remain in effect until terminated in accordance with Section 19 hereof.
Priority Security Interest. Each of the Security Documents is effective to create in favor of the Administrative Agent a legal, valid and enforceable Lien as purported therein on the collateral described therein and, when the Mortgages and the Assignment of Residency Documents are recorded in accordance with Exhibit 8.01(e), the financing statements identified on Exhibit 8.0l(f) are filed in the offices specified, and upon execution and delivery of an Account Control Agreement with respect to each account described in Section 5.21 or 6.21, the Liens created by the Security Documents shall constitute a fully perfected Lien on, and security interest in, all right, title and interest of the grantors thereunder in the collateral described therein, to the extent perfection can be obtained by such recordation and filing, in each case, except for Permitted Encumbrances, prior and superior in right to any other Person to the extent perfection can be obtained by such recordation and filing.
Priority Security Interest. Notwithstanding anything to the contrary contained herein, if all amounts outstanding under the Original Credit Facility or any Permitted Replacement Facility (as applicable) are repaid prior to the Contingent Payment Security Interest Effective Date, Purchaser shall have the right to grant a first priority security interest (the “Priority Security Interest”) in Purchaser’s assets to a third-party lender (the “Senior Lender”). If, on the Contingent Payment Security Interest Effective Date, the assets comprising the Contingent Payment Collateral are subject to such Priority Security Interest, each of MGIC and Radian agree that the security interest created under Section 6.1 shall be subordinate in lien priority to the Priority Security Interest.
