Common use of Security ranking Clause in Contracts

Security ranking. SAVVIS UK represents and warrants that this Deed: 8.2.1 constitutes, and shall, throughout the Security Period, constitute, legal, valid, binding and enforceable obligations of SAVVIS UK and Guarantor, subject to any general principles of law limiting its obligations which are specifically referred to in any legal opinion delivered pursuant to any Finance Documents; 8.2.2 has and shall, throughout the Security Period, have the ranking of a first fixed charge and first priority assignment over the Security Assets effective in accordance with its terms.

Appears in 2 contracts

Sources: Asset Security Agreement, Deed (SAVVIS, Inc.)