Common use of Security Interests and Liens Clause in Contracts

Security Interests and Liens. The Mortgages create, as ---------------------------- security for the Obligations, valid and enforceable security interests in and Liens on all of the Collateral in favor of the Lead Agent as agent for the ratable benefit of the Banks, and subject to no other Liens (except as may be permitted under any Mortgage with respect to the Mortgaged Property subject thereto), except as enforceability may be limited by applicable insolvency, bankruptcy or other laws affecting creditors' rights generally, or general principles of equity, whether such enforceability is considered in a proceeding in equity or at law. Such security interests in and Liens on the Collateral shall be superior to and prior to the rights of all third parties in the Collateral (except as may be permitted under any Mortgage with respect to the Mortgaged Property subject thereto), and, other than in connection with any future change in Borrower's name or the location of Borrower's chief executive office, no further recordings or filings are or will be required in connection with the creation, perfection or enforcement of such security interests and Liens, other than the filing of continuation statements in accordance with applicable law.

Security Interests and Liens. The Mortgages create, as ---------------------------- security for the Obligations, valid and enforceable security interests in and Liens on all of the Collateral in favor of the Lead Agent as agent for the ratable benefit of the Banks, and subject to no other Liens (except as may be permitted under any Mortgage with respect to the Mortgaged Property subject thereto), except as enforceability may be limited by applicable insolvency, bankruptcy or other laws affecting creditors' rights generally, or general principles of equity, whether such enforceability is considered in a proceeding in equity or at law. Such security interests in and Liens on the Collateral shall be superior to and prior to the rights of all third parties in the Collateral (except as may be permitted under any Mortgage with respect to the Mortgaged Property subject thereto), and, other than in connection with any future change in Borrower's name or the location of Borrower's chief executive office, no further recordings or filings are or will be required in connection with the creation, perfection or enforcement of such security interests and Liens, other than the filing of continuation statements in accordance with applicable law.