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

Creation, Perfection and Priority of Liens. As of the Effective Date, the execution and delivery of the Loan Documents by the Loan Parties, together with Uniform Commercial Code financing statements and, to the extent relevant, any documents to be filed with the U.S. Patent and Trademark Office, in proper form for filing have been delivered to the Administrative Agent for filing and recording, and the recording of any mortgages or deeds of trust delivered to the Administrative Agent for recording (but not yet recorded), are effective to create in favor of the Collateral Agent for the benefit of itself and the Lenders, as security for the Obligations, a valid and perfected first priority Lien on all of the Collateral (subject only to Permitted Liens).

Creation, Perfection and Priority of Liens. As of the Effective Date, the execution and delivery of the Loan Documents by the Loan Parties, together with Uniform Commercial Code financing statements and, to the extent relevant, any documents to be filed with the U.S. Patent and Trademark Office, in proper form for filing have been delivered to the Administrative Agent for filing and recording, and the recording of any mortgages or deeds of trust delivered to the Administrative Agent for recording (but not yet recorded)recording, are effective to create in favor of the Collateral Agent for the benefit of itself and the Lenders, as security for the Obligations, a valid and perfected first priority Lien on all of the Collateral (subject only to Permitted Liens).