Common use of Enforceability of Security Interests Clause in Contracts

Enforceability of Security Interests. Upon the execution of this Agreement by Grantor and the filing of financing statements properly describing the Collateral and identifying Grantor and the Secured Party in the applicable jurisdiction required pursuant to the UCC, the security interests and liens granted to the Secured Party under this Agreement (including Section 1.01) hereof shall constitute valid, perfected and first priority security interests and liens in and to the Collateral of Grantor, other than Collateral which may not be perfected by filing under the Uniform Commercial Code, in each case enforceable against all third parties and securing the payment of the Obligations.

Enforceability of Security Interests. Upon the execution of this Agreement by each Grantor and the filing of financing statements properly describing the Collateral and identifying such Grantor and the Secured Party in the applicable jurisdiction required pursuant to the UCC, the security interests and liens granted to the Secured Party under this Agreement (including Section 1.01) 1.01 hereof shall constitute valid, perfected and first priority security interests and liens in and to the Collateral of such Grantor, other than Collateral which may not be perfected by filing under the Uniform Commercial Code, and subject to Permitted Liens, in each case enforceable against all third parties and securing the payment of the Obligations.