Priority Lien. The Collateral shall be delivered so that this Agreement, together with such delivery, creates in favour of the Assignee, as Collateral Agent, for the benefit and on behalf of the Secured Parties, a first priority lien on, and first priority security interest in such Collateral.
Appears in 2 contracts
Sources: Security Agreement (Graftech International LTD), Security Agreement (Graftech International LTD)