Common use of Rights in Collateral; Priority of Liens Clause in Contracts

Rights in Collateral; Priority of Liens. All property constituting Collateral is owned or leased by the respective Borrowers, free and clear of any and all Liens in favor of third parties, other than Permitted Liens. Upon the proper filing of the UCC financing and termination statements, in each case listed in the Closing Document List, the security interests granted pursuant to the Credit Documents constitute valid and enforceable first, prior (subject to Permitted Liens) and perfected Liens on the Collateral, to the extent such Liens can be perfected by the filing of such financing statements.

Rights in Collateral; Priority of Liens. All property constituting consisting of Collateral is owned or leased by the respective Borrowerssuch Credit Party, free and clear of any and all Liens in favor of third parties, other than Permitted Liens. Upon the proper filing of the UCC financing and termination statements, in each case listed in the Closing Document List, the security interests granted pursuant to the Credit Documents constitute valid and enforceable firstfirst (except for Permitted Liens and other liens permitted hereunder), prior (subject to Permitted Liens) and perfected Liens on the Collateral, Collateral to the extent such Liens can be perfected by the filing of such financing statements.

Rights in Collateral; Priority of Liens. All property constituting Collateral is owned or leased by the respective BorrowersBorrower, free and clear of any and all Liens in favor of third parties, other than Permitted Liens. Upon the proper filing of the UCC financing (and termination statements, in each case if any) listed in the Closing Document List, the security interests granted pursuant to the Credit Documents constitute valid and enforceable first, prior (subject to Permitted Liens) and perfected Liens on the Collateral, to the extent such Liens can be perfected by the filing of such financing statements.

Rights in Collateral; Priority of Liens. All property constituting Collateral is owned or leased by the respective Borrowersapplicable Borrower, free and clear of any and all Liens in favor of third parties, other than Permitted Liens. Upon the proper filing of the UCC financing statements (and termination statements, in each case if any), the Mortgages (or assignments thereof), the Patent Security Agreement and the Trademark Security Agreement listed in the Closing Document List, the security interests granted pursuant to the Credit Documents constitute valid and enforceable first, prior (subject to Permitted Liens) and perfected Liens on the Collateral, to the extent such Liens can be perfected by the filing of such financing statementsdocuments.