Common use of Creation, Perfection and Priority of Liens Clause in Contracts

Creation, Perfection and Priority of Liens. The execution and delivery of the Collateral Documents by Loan Parties, together with (i) the actions taken on or prior to the date hereof pursuant to subsections 4.1I, 4.1J, 6.8 and 6.9B and (ii) the delivery to Collateral Agent of any Pledge Agreement Collateral not delivered to Collateral Agent at the time of execution and delivery of the applicable Collateral Document (all of which Pledge Agreement Collateral has been so delivered to the extent required by the respective Collateral Documents) are effective to create in favor of Collateral Agent for the benefit of Secured Creditors, as security for the respective Secured Obligations (as defined in the applicable Collateral Document in respect of any Collateral), a valid and perfected First Priority Lien on all of the Collateral, and all filings and other actions necessary or desirable to perfect and maintain the perfection and First Priority status of such Liens have been duly made or taken and remain in full force and effect, other than the filing of any UCC financing statements delivered to Collateral Agent for filing (but not yet filed) and the periodic filing of UCC continuation statements in respect of UCC financing statements filed by or on behalf of Collateral Agent.

Creation, Perfection and Priority of Liens. The execution and delivery of the Collateral Documents by Loan Parties, together with (i) the actions taken on or prior to the date hereof in connection with the closing pursuant to subsections 4.1I, 4.1J, 6.8 6.9 and 6.9B 6.10 and (ii) the delivery to Collateral Agent of any Pledge Agreement Pledged Collateral not delivered to Collateral Agent at the time of execution and delivery of the applicable Collateral Document (all of which Pledge Agreement Pledged Collateral has been so delivered to the extent required by the respective Collateral Documentsdelivered) are effective to create in favor of Collateral Agent for the benefit of Secured CreditorsLenders, as security for the respective Secured Obligations (as defined in the applicable Collateral Document in respect of any Collateral), a valid and perfected First Priority Lien on all of the Collateral, including without limitation the Collateral subject to the Intercompany Collateral Documents, and all filings and other actions necessary or desirable to perfect and maintain the perfection and First Priority status of such Liens have been duly made or taken and remain in full force and effect, other than the filing of any UCC financing statements or equivalent filings delivered to Collateral Agent for filing (but not yet filed) and the periodic filing of UCC continuation statements in respect of UCC financing statements or equivalent filings filed by or on behalf of Collateral Agent.

Creation, Perfection and Priority of Liens. The execution and delivery of the Collateral Documents by Loan Parties, together with (i) the actions taken on or prior to the date hereof or pursuant to subsections 4.1I, 4.1J, 6.8 and 6.9B subsection 6.9 and (ii) the delivery to Collateral Agent of any Pledge Agreement Pledged Collateral not delivered to Collateral Agent at the time of execution and delivery of the applicable Collateral Document (all of which Pledge Agreement Pledged Collateral has been so delivered to the extent required by the respective Collateral Documentsdelivered) are effective to create in favor of Collateral Agent for the benefit of Secured CreditorsLenders, as security for the respective Secured Obligations (as defined in the applicable Collateral Document in respect of any Collateral), a valid and perfected First Priority Lien on all of the Collateral, including without limitation the Collateral subject to the Intercompany Collateral Documents, and all filings and other actions necessary or desirable to perfect and maintain the perfection and First Priority status of such Liens have been duly made or taken and remain in full force and effect, other than the filing of any UCC financing statements or equivalent filings delivered to Collateral Agent for filing (but not yet filed) and the periodic filing of UCC continuation statements in respect of UCC financing statements or equivalent filings filed by or on behalf of Collateral Agent.

Creation, Perfection and Priority of Liens. The execution and delivery of the Collateral Documents by Loan Parties, together with (i) the actions taken on or prior to the date hereof pursuant to subsections 4.1I, 4.1J6.8 and 6.9 of the Existing Revolving Loan Credit Agreement and subsections 4.1I, 6.8 and 6.9B 6.9 of this Agreement and (ii) the delivery to Collateral Agent of any Pledge Agreement Pledged Collateral not delivered to Collateral Agent at the time of execution and delivery of the applicable Collateral Document (all of which Pledge Agreement Pledged Collateral has been so delivered to the extent required by the respective Collateral Documentsdelivered) are effective to create in favor of Collateral Agent for the benefit of Secured CreditorsParties, as security for the respective Secured Obligations (as defined in the applicable Collateral Document in respect of any Collateral), a valid and perfected First Priority Lien on all of the Collateral, and all filings and other actions necessary or desirable to perfect and maintain the perfection and First Priority status of such Liens have been duly made or taken and remain in full force and effect, other than the filing of any UCC financing statements delivered to Collateral Agent for filing (but not yet filed) and the periodic filing of UCC continuation statements in respect of UCC financing statements filed by or on behalf of Collateral Agent.

Creation, Perfection and Priority of Liens. The execution and delivery of the Collateral Documents by Loan Parties, together with (i) the actions taken on or prior to the date hereof pursuant to subsections 4.1I3.1I, 4.1J5.8 and 5.9 of the Existing AXEL Credit Agreement and subsections 3.1H, 6.8 5.8 and 6.9B 5.9 of this Agreement and (ii) the delivery to Collateral Agent of any Pledge Agreement Pledged Collateral not delivered to Collateral Agent at the time of execution and delivery of the applicable Collateral Document (all of which Pledge Agreement Pledged Collateral has been so delivered to the extent required by the respective Collateral Documentsdelivered) are effective to create in favor of Collateral Agent for the benefit of Secured CreditorsParties, as security for the respective Secured Obligations (as defined in the applicable Collateral Document in respect of any Collateral), a valid and perfected First Priority Lien on all of the Collateral, and all filings and other actions necessary or desirable to perfect and maintain the perfection and First Priority status of such Liens have been duly made or taken and remain in full force and effect, other than the filing of any UCC financing statements delivered to Collateral Agent for filing (but not yet filed) and the periodic filing of UCC continuation statements in respect of UCC financing statements filed by or on behalf of Collateral Agent.

Creation, Perfection and Priority of Liens. The execution and delivery of the Collateral Documents by Loan Parties, together with (i) the actions taken on or prior to the date hereof pursuant to subsections 4.1I, 4.1J, 4.1L and 6.8 and 6.9B and (ii) the delivery to Collateral Agent of any Pledge Agreement Pledged Collateral not delivered to Collateral Agent at the time of execution and delivery of the applicable Collateral Document (all of which Pledge Agreement Pledged Collateral has been so delivered to the extent required by the respective Collateral Documentsdelivered) are effective to create in favor of Collateral Agent for the benefit of Secured CreditorsLenders, as security for the respective Secured Obligations (as defined in the applicable Collateral Document in respect of any Collateral), a valid and perfected First Priority Lien on all of the Collateral, and all filings and other actions necessary or desirable to perfect and maintain the perfection and First Priority status of such Liens have been duly made or taken and remain in full force and effect, other than the filing of any UCC financing statements delivered to Collateral Agent for filing (but not yet filed) and the periodic filing of UCC continuation statements in respect of UCC financing statements filed by or on behalf of Collateral Agent.

Creation, Perfection and Priority of Liens. The execution and delivery of the Collateral Documents by Loan Parties, together with (i) the actions taken on or prior to the REVOLVING LOAN CREDIT AGREEMENT EXECUTION 93 101 date hereof pursuant to subsections 4.1I, 4.1J, 6.8 and 6.9B 6.9 and (ii) the delivery to Collateral Agent of any Pledge Agreement Pledged Collateral not delivered to Collateral Agent at the time of execution and delivery of the applicable Collateral Document (all of which Pledge Agreement Pledged Collateral has been so delivered to the extent required by the respective Collateral Documentsdelivered) are effective to create in favor of Collateral Agent for the benefit of Secured CreditorsParties, as security for the respective Secured Obligations (as defined in the applicable Collateral Document in respect of any Collateral), a valid and perfected First Priority Lien on all of the Collateral, and all filings and other actions necessary or desirable to perfect and maintain the perfection and First Priority status of such Liens have been duly made or taken and remain in full force and effect, other than the filing of any UCC financing statements delivered to Collateral Agent for filing (but not yet filed) and the periodic filing of UCC continuation statements in respect of UCC financing statements filed by or on behalf of Collateral Agent.

Creation, Perfection and Priority of Liens. The execution and delivery of the Collateral Documents by Loan Parties, together with (i) the actions taken on or prior to the date hereof pursuant to subsections 4.1I4.1L, 4.1J4.1M, 6.8 and 6.9B 6.9 and (ii) the delivery to Collateral Administrative Agent of any Pledge Agreement Pledged Collateral not delivered to Collateral Administrative Agent at the time of execution and delivery of the applicable Collateral Document (all of which Pledge Agreement Pledged Collateral has been so delivered to the extent required by the respective Collateral Documentsdelivered) are effective to create in favor of Collateral Administrative Agent for the benefit of Secured CreditorsLenders, as security for the respective Secured Obligations (as defined in the applicable Collateral Document in respect of any Collateral), a valid and perfected First Priority Lien on all of the Collateral, and all filings and other actions necessary or desirable to perfect and maintain the perfection and First Priority status of such Liens have been duly made or taken and remain in full force and effect, other than the filing of any UCC financing statements and PTO filings delivered to Collateral Administrative Agent for filing (but not yet filed) and the periodic filing of UCC continuation statements in respect of UCC financing statements filed by or on behalf of Collateral Administrative Agent.

Creation, Perfection and Priority of Liens. The execution and delivery of the Collateral Documents by Loan Parties, together with (i) the actions taken on or prior to the date hereof pursuant to subsection 4.1J of the Existing Credit Agreement and subsections 4.1I4.2H, 4.1J, 6.8 4.3H and 6.9B 6.9 of this Agreement and (ii) the delivery to Collateral Agent of any Pledge Agreement Pledged Collateral not delivered to Collateral Agent at the time of execution and delivery of the applicable Collateral Document (all of which Pledge Agreement Pledged Collateral has been so delivered to the extent required by the respective Collateral Documentsdelivered) are effective to create in favor of Collateral Agent for the benefit of Secured CreditorsAgents and Lenders, as security for the respective Secured Obligations (as defined in the applicable Collateral Document in respect of any Collateral), a valid and perfected First Priority first priority Lien on all of the Collateral, and all filings and other actions necessary or desirable to perfect and maintain the perfection and First Priority first priority status of such Liens have been duly made or taken and remain in full force and effect, other than the filing of any UCC financing statements delivered to Collateral Agent for filing (but not yet filed) and the periodic filing of UCC continuation statements in respect of UCC financing statements filed by or on behalf of Collateral Agent.

Creation, Perfection and Priority of Liens. The execution and delivery of the Collateral Documents by Loan Parties, together with (i) the actions taken on or prior to the date hereof pursuant to subsections 4.1I, 4.1J4.2H, 6.8 and 6.9B 6.9, together with the requisite filings in the PTO and the US Copyright Office and (ii) the delivery to Collateral Agent of any Pledge Agreement Pledged Collateral not delivered to Collateral Agent at the time of execution and delivery of the applicable Collateral Document (all of which Pledge Agreement Pledged Collateral has been so delivered to the extent required by the respective Collateral Documentsdelivered) are effective to create in favor of Collateral Agent for the benefit of Secured CreditorsLenders, as security for the respective Secured Obligations (as defined in the applicable Collateral Document in respect of any Collateral), a valid and perfected First Priority Lien on all of the Collateral, and all filings and other actions necessary or desirable to perfect and maintain the perfection and First Priority status of such Liens have been duly made or taken and remain in full force and effect, other than the filing of any UCC financing statements delivered to Collateral Agent for filing (but not yet filed) and the periodic filing of UCC continuation statements in respect of UCC financing statements filed by or on behalf of Collateral Agent. Notwithstanding anything to the contrary in the foregoing, on the Effective Date only, the Collateral referred to in this Section 5.15 shall not include Collateral constituted by Deposit Accounts referred to in Schedule 6.13.