Common use of Collateral; Security Interest Clause in Contracts

Collateral; Security Interest. Each Security Document is effective to create in favor of the Lenders a legal, valid and enforceable security interest in the Collateral subject thereto and each such security interest will be perfected to the extent required by (and has the priority required by) the applicable Security Document subject to the taking of the actions described in such Security Documents. The Security Documents collectively are effective to create in favor of the Lenders a legal, valid and enforceable security interest in all of the Borrower’s and the Guarantors’ assets, which security interests are first-priority except for Permitted Senior Liens.

Collateral; Security Interest. Each Security Document is effective to create in favor of the Lenders Secured Parties a legal, valid and enforceable security interest in the Collateral subject thereto and each such security interest will be is perfected to the extent required by (and has the priority required by) the applicable Security Document subject to the taking of the actions described in such Security DocumentsDocument. The Security Documents collectively are effective to create in favor of the Lenders Secured Parties a legal, valid and enforceable security interest in all of the Borrower’s and the Guarantors’ assetsCollateral, which security interests are first-priority except for (subject only to Permitted Senior Priority Liens).

Collateral; Security Interest. Each Security Document is effective to create in favor of the Lenders a legal, valid and enforceable security interest in the Collateral subject thereto and each such security interest will be perfected to the extent required by (and has the priority required by) the applicable Security Document subject to the taking of the actions described in such Security Documents. The Security Documents collectively are effective to create in favor of the Lenders a legal, valid and enforceable security interest in all of the Borrower’s and the Subsidiary Guarantors’ assets, which security interests are first-priority except for Permitted Senior Liens.

Collateral; Security Interest. Each Security Document is effective to create in favor of the Lenders a legal, valid and enforceable security interest in the Collateral subject thereto and each such security interest will be is perfected to the extent required by (and has the priority required by) the applicable Security Document subject to the taking of the actions described in such Security DocumentsDocument. The Security Documents collectively collectively, when financing statements and other filings specified on Schedule 7.18 in appropriate form are filed in the offices specified on Schedule 7.18, are effective to create in favor of the Lenders a legal, valid and enforceable security interest in all of the Borrower’s and the Guarantors’ assetsCollateral, which security interests are first-priority except for (subject only to Permitted Senior Priority Liens).

Collateral; Security Interest. Each Security Document is effective to create in favor of the Lenders Secured Parties a legal, valid and enforceable security interest in the Collateral subject thereto and each such security interest will be is perfected to the extent required by (and has the priority required by) the applicable Security Document subject to the taking of the actions described in such Security DocumentsDocument. The Security Documents collectively are effective to create in favor of the Lenders Secured Parties a legal, valid and enforceable security interest in all of the Borrower’s and the Guarantors’ assetsCollateral subject thereto, which security interests are first-priority (subject only to Permitted Priority Liens or except for Permitted Senior Liensas expressly contemplated by the Security Documents).

Collateral; Security Interest. Each Security Document is effective to create in favor of the Lenders Lenders, upon the first Borrowing, a legal, valid and enforceable security interest in the Collateral subject thereto and each such security interest will be is perfected to the extent required by (and has the priority required by) the applicable Security Document subject to the taking of the actions described in such Security DocumentsDocument. The Security Documents collectively are effective effective, upon the first Borrowing, to create in favor of the Lenders a legal, valid and enforceable security interest in all of the Borrower’s and the Guarantors’ assetsCollateral, which security interests are first-priority except for (subject only to Permitted Senior Priority Liens).

Collateral; Security Interest. Each Security Document is effective to create in favor of the Lenders Secured Parties a legal, valid and enforceable security interest in the Collateral subject thereto and each such security interest will be is perfected to the extent required by (and has the priority required by) the applicable Security Document subject to the taking of the actions described in such Security DocumentsDocument. The Security Documents collectively are effective to create in favor of the Lenders Secured Parties a legal, valid and enforceable security interest in all of the Borrower’s and the Guarantors’ assetsCollateral, which security interests are first-priority except for (subject only to Permitted Senior Priority Liens) to the extent required by the applicable Security Document.

Collateral; Security Interest. Each Security Document is effective to create in favor of the Lenders a legal, valid and enforceable security interest in the Collateral subject thereto and each such security interest will be is perfected to the extent required by (and has the priority required by) the applicable Security Document subject to the taking of the actions described in such Security DocumentsDocument. The Security Documents collectively are effective to create in favor of the Lenders a legal, valid and enforceable security interest in all of the Borrower’s and the Guarantors’ assetsCollateral, which upon the filing of financing statements and other similar statements filed in the appropriate offices, such security interests are first-priority except for security interests (subject only to Permitted Senior Priority Liens).

Collateral; Security Interest. Each Security Document is effective to create in favor of the Lenders a legal, valid and enforceable security interest in the Collateral subject thereto and each such security interest will be is perfected to the extent required by (and has the priority required by) the applicable Security Document subject to the taking of the actions described in such Security DocumentsDocument. The Security Documents collectively are effective to create in favor of the Lenders a legal, valid and enforceable security interest in all of the Borrower’s and the Guarantors’ assetsCollateral, which upon the filing of financing statements and other similar statements filed in the appropriate offices, such security interests are first-priority except for security interests (subject only to Permitted Senior Liens).