Common use of Loss of Priority Clause in Contracts

Loss of Priority. With the exception of the Regulatory Agreement and other Permitted Prior Encumbrances, the failure at any time of the Deed of Trust to be a valid first lien upon the Property and Improvements or any portion thereof, other than as a result of any release or reconveyance of the Deed of Trust with respect to all or any portion of the Property and Improvements pursuant to the terms and conditions of this Loan Agreement; or

Loss of Priority. With the exception of the Regulatory Agreement Agreements and other Permitted Prior Encumbrances, the failure at any time of the Deed of Trust to be a valid first lien upon the Property and Improvements or any portion thereof, other than as a result of any release or reconveyance of the Deed of Trust with respect to all or any portion of the Property and Improvements pursuant to the terms and conditions of this Loan Agreement; or