Common use of ABL Priority Collateral Clause in Contracts

ABL Priority Collateral. The Administrative Agent shall be satisfied with the valid perfected Second Priority security interest in favor of Collateral Agent, for the benefit of Secured Parties, in the ABL Priority Collateral of each Credit Party.

ABL Priority Collateral. The Administrative Agent shall be satisfied with the valid perfected Second First Priority security interest in favor of Collateral Agent, for the benefit of Secured Parties, in the ABL Priority Collateral of each Credit PartyCollateral.