Common use of First Priority Perfected Security Interest Clause in Contracts

First Priority Perfected Security Interest. If for any reason (other than solely as a result of Xxxxxx's failure to timely file any mortgage reinscription and/or Code continuation statements), Xxxxxx’s priority position with respect to any Collateral ceases to be a fully perfected, first-priority security interest or lien, except for Permitted Liens, either by virtue of the filing of a Code financing statement, a mortgage, security deed or other security instrument, by virtue of the operation of statute, or otherwise, or if any person shall make any filing altering or terminating any financing statement or other security instrument in favor of Lender without Xxxxxx’s prior written consent which is not reinstated or resolved to Lender’s satisfaction within ten (10) days of the filing thereof.

First Priority Perfected Security Interest. If for any reason (other than solely as a result of XxxxxxLxxxxx's failure to timely file any mortgage reinscription and/or Code continuation statements), XxxxxxLxxxxx’s priority position with respect to any Collateral ceases to be a fully perfected, first-priority security interest or lien, except for Permitted Liens, either by virtue of the filing of a Code financing statement, a mortgage, security deed or other security instrument, by virtue of the operation of statute, or otherwise, or if any person shall make any filing altering or terminating any financing statement or other security instrument in favor of Lender without XxxxxxLxxxxx’s prior written consent which is not reinstated or resolved to Lender’s satisfaction within ten (10) days of the filing thereof.

First Priority Perfected Security Interest. If for any reason (other than solely as a result of XxxxxxLender's failure to timely file any mortgage reinscription and/or Code continuation statements), XxxxxxLender’s priority position with respect to any Collateral ceases to be a fully perfected, first-priority security interest or lien, except for Permitted Liens, either by virtue of the filing of a Code financing statement, a mortgage, security deed or other security instrument, by virtue of the operation of statute, or otherwise, or if any person shall make any filing altering or terminating any financing statement or other security instrument in favor of Lender without XxxxxxLender’s prior written consent which is not reinstated or resolved to Lender’s satisfaction within ten (10) days of the filing thereof.; or