Common use of Lien Priority Clause in Contracts

Lien Priority. Except as the result of the action or inaction of the Collateral Agent or the Purchasers, any Lien created hereunder or by any other Note Document shall at any time fail to constitute a valid and perfected Lien on any of the Collateral purported to be secured thereby, subject to no prior or equal Lien, other than Permitted Liens arising as a matter of applicable law or that are permitted to have priority pursuant to this Agreement.

Lien Priority. Except as the result of the action or inaction of the Collateral Agent or the PurchasersLenders, any Lien created hereunder or by any other Note Loan Document shall at any time fail to constitute a valid and perfected Lien on any a material portion of the Collateral purported to be secured thereby, subject to no prior or equal Lien, other than Permitted Liens arising as a matter of applicable law or that are permitted to have priority pursuant to this Agreementlaw.

Lien Priority. Except as the result of the action or inaction of the Collateral Agent or the Purchasers, any Any Lien created hereunder under or by any other Note Collateral Document shall at any time fail to constitute a valid and perfected Lien on any of the Collateral purported to be secured thereby, subject to no prior or equal Lien, other than Permitted Liens arising as a matter of applicable law or that are permitted to have priority pursuant to this Agreement.

Lien Priority. Except as the result of the action or inaction of the Collateral Agent or the Purchasersany Lender, any Lien created hereunder or by any other Note Loan Document shall at any time fail to constitute a valid and perfected first priority (subject, in respect of priority, to Permitted Liens that, under applicable law, have priority over Collateral Agent’s Lien) Lien on any a material portion of the Collateral purported to be secured thereby, subject to no prior or equal by a perfected Lien, other than Permitted Liens arising as a matter of applicable law or that are permitted to have priority pursuant to this Agreement.

Lien Priority. Except as the result of the action or inaction of the Collateral Agent or the Purchasers, any Any Lien created hereunder or by any other Note Document shall at any time fail to constitute a valid and perfected Lien on any of the Collateral purported to be secured thereby, subject to no prior or equal Lien, other than Permitted Liens arising as a matter of applicable law or that which are permitted to have priority pursuant to in accordance with the terms of this Agreement.

Lien Priority. Except as the result of the action or inaction of the Collateral Agent or the PurchasersLenders, any Lien created hereunder or by any other Note Loan Document shall at any time fail to constitute a valid and perfected Lien on any of the Collateral purported to be secured thereby, subject to no prior or equal Lien, other than Permitted Liens arising as a matter of applicable law or that are permitted to have priority pursuant to this Agreementlaw.

Lien Priority. Except as the result of the action or inaction of the Collateral Agent or the PurchasersLenders, any Lien created hereunder or by any other Note Loan Document shall at any time fail to constitute a valid and perfected (to the extent required hereunder) Lien on any material portion of the Collateral purported to be secured thereby, subject to no prior or equal Lien, other than Permitted Liens arising as a matter of applicable law or that are permitted to have priority pursuant to this Agreementlaw.