Priority Lien. The Mortgage secures the Note, and such security is and shall remain superior to all other mortgages, liens and encumbrances on the Mortgaged Property.
Priority Lien. The Collateral shall be delivered so that this Agreement, together with such delivery, creates in favour of the Assignee, as Collateral Agent, for the benefit and on behalf of the Secured Parties, a first priority lien on, and first priority security interest in such Collateral.
Priority Lien. Debtor shall maintain good and marketable fee simple title to the Collateral, free and clear of all liens, encumbrances, charges and other exceptions to title. Debtor shall maintain good and marketable title to or valid and binding leasehold interests in, as applicable, the Premises, free and clear of all liens, encumbrances, charges and other exceptions to title.
Priority Lien. Upon Closing, Remainderman II shall have a remainder interest in the land comprising the Dapper II Substitute Properties, all free and clear of all liens, encumbrances, charges and security interests of any nature whatsoever, except the Permitted Exceptions. Upon Closing, FFC shall have a first priority lien upon and security interest in each of the Dapper II Substitute Properties pursuant to the Dapper II Substitute Mortgages and the Dapper II Substitute UCC-1
Priority Lien. The Town shall have a lien on the subject lands for any amount spent by the Town pursuant to section 6 of this Agreement on the removal of the subject project construction and restoration of the site, other than the amount provided pursuant to section 8 of this Agreement, and the amount shall have priority lien status and the Town shall be entitled to add the amount to the taxes of the subject land pursuant to the Municipal Act, R.S.O.
Priority Lien. The Security Agreement duly executed by Funding Recipient and evidence that the City’s Lien on the Eligible Vehicle(s) paid for or intended to be paid for with the proceeds of the Funding and other Collateral pledged by Funding Recipient as security for its obligations under the Transactional Documents is a first priority Lien. In this connection, Funding Recipient shall:
Priority Lien. The Municipality shall have a lien on the Lands for any amount incurred by the Municipality pursuant to section 8 of this Agreement to remove the subject construction and restore the site, other than the amount provided pursuant to section 10 of this Agreement, and the amount shall have priority lien status pursuant to the subsections 1(2.1) and (3) of the Xxxxxxxxx Xxx, 0000, S.O. 2001, c.M.25, as amended (“Act”) and shall form a special lien in the same manner as taxes pursuant to subsection 349(3) of the Act. .
Priority Lien. All filings and other actions necessary ------------------- or desirable to perfect and protect the security interest in the Collateral created under the Collateral Documents have been duly made or taken, and the Collateral Documents create in favor of the Administrative Agent for the benefit of the Secured Parties a valid and, together with such filings and other actions, perfected first priority security interest in the Collateral (other than the Synthetic Lease Properties, in which the Administrative Agent, for the benefit of the Secured Parties, shall have a second priority security interest, but only to the extent provided in the Intercreditor Agreement (Leased Property)), securing the payment of the Obligations under the Loan Documents, and all filings and other actions necessary or desirable to perfect and protect such security interest have been duly taken. The Loan Parties are the legal and beneficial owners of the Collateral free and clear of any Lien, except for the liens and security interests created or permitted under the Loan Documents and the Synthetic Lease Documents and the Landlord's Lien Rights in respect of the property listed on Schedule 5.01(r)(ii) located in the States of Washington, Oregon and Florida.
Priority Lien. Evidence that Lender has valid, perfected and first priority security interests in and liens upon the assets acquired by Borrower pursuant to the Kennsco Purchase Agreements and any other property which is intended as security for the Obligations or the liability of any Obligor in respect thereto, subject only to the security interests and liens permitted in the Loan Agreement or the other Financing Agreements.
Priority Lien. Upon each closing, FFCA shall have a first priority lien on the Sites pursuant to the Deeds of Trust and UCC-1 Financing Statements and on the Equipment pursuant to the Equipment Security Agreements and UCC-1 Financing Statements, subject only to Permitted Exceptions.
