Common use of Perfection and Priority of Liens Clause in Contracts

Perfection and Priority of Liens. The pledge and grant of a security interest in the Pledged Collateral pursuant to this Agreement will create a valid and perfected Lien on and in the Pledged Collateral, and the proceeds thereof, securing the payment of the Obligations, subject to no prior Lien; and

Perfection and Priority of Liens. The pledge and grant of a security interest in in, and delivery of the Pledged Collateral pursuant to this Agreement Agreement, will create a valid and perfected Lien on and in the Pledged Collateral, and the proceeds thereof, securing the payment of the Secured Obligations, subject to no prior Lien; and, assuming continued possession of the original certificates evidencing the Securities constituting Pledged Collateral by the Collateral Agent.

Perfection and Priority of Liens. The pledge and grant of a security interest in the Pledged Collateral pursuant to this Agreement will create a valid and perfected DB3/ 204702720.5 Lien on and in the Pledged Collateral, and the proceeds thereof, securing the payment of the Obligations, subject to no prior Lien; and

Perfection and Priority of Liens. The pledge and grant of a security interest in in, and delivery of the Pledged Collateral pursuant to this Agreement Agreement, will create a valid and perfected Lien on and in the Pledged Collateral, and the proceeds thereof, securing the payment of the Secured Obligations, subject to no prior Lien; and, assuming continued possession of the original certificates evidencing the Securities relating to the Raft River Interests constituting Pledged Collateral by the Collateral Agent.