Common use of Priority of Liens Clause in Contracts

Priority of Liens. The Administrative Agent shall have received ----------------- satisfactory evidence that (i) the Administrative Agent, on behalf of the Lenders, holds a perfected, first priority Lien on all Collateral (subject only to Permitted Liens) and (ii) none of the Collateral is subject to any other Liens other than Permitted Liens.

Appears in 2 contracts

Sources: Credit Agreement (Friedmans Inc), Credit Agreement (Friedmans Inc)

Priority of Liens. The Receipt by the Administrative Agent shall have received ----------------- of satisfactory evidence that (i) the Administrative Agent, on behalf of the Lenders, holds a perfected, first priority Lien on all Collateral (subject only to Permitted Liensclause (ii)) and (ii) none of the Collateral is subject to any other Liens other than Permitted Liens.

Appears in 2 contracts

Sources: Credit Agreement (Industrial Distribution Group Inc), Credit Agreement (Industrial Distribution Group Inc)

Priority of Liens. The Administrative Agent shall have received ----------------- such other satisfactory evidence that as it may reasonably require that, after giving effect to this Credit Agreement, (i) the Administrative Agent, on behalf of the LendersSecured Parties, holds a perfected, first priority Lien on all Collateral (subject only to Permitted Liens) and (ii) none of the Collateral is subject to any other Liens other than Permitted Liens.

Appears in 1 contract

Sources: Credit Agreement (Corrections Corp of America/Md)

Priority of Liens. The Administrative Agent shall have received ----------------- satisfactory evidence that (iA) the Administrative Agent, on behalf of the Lenders, holds a perfected, first priority (1) perfected Lien on all Collateral and (2) a first priority, perfected lien on all Priority Collateral (in each case subject only to Permitted Liensclause (B)) and (iiB) none of the Collateral is subject to any other Liens other than Permitted LiensLiens and Liens on Indebtedness to be repaid on the Closing Date and to be released on or promptly after the Closing Date .

Appears in 1 contract

Sources: Credit Agreement (Calumet Specialty Products Partners, L.P.)

Priority of Liens. The Administrative Agent shall have received ----------------- satisfactory evidence that (i) the Administrative Agent, on behalf of the Lenders, holds a perfected, first priority Lien on all Collateral (subject only to Permitted Liens) and (ii) none of the Collateral is subject to any other Liens other than Permitted Liens.

Appears in 1 contract

Sources: Credit Agreement (Profit Recovery Group International Inc)

Priority of Liens. The Administrative Agent shall have received ----------------- satisfactory evidence that (iA) the Administrative Agent, on behalf of the Lenders, holds (1) a perfected, first priority perfected Lien on all Collateral and (2) a first priority, perfected lien on all Priority Collateral (in each case subject only to Permitted Liensclause (B) below) and (iiB) none of the Collateral is subject to any other Liens other than Permitted LiensLiens and Liens on Indebtedness to be repaid on the Closing Date and to be released on or promptly after the Closing Date.

Appears in 1 contract

Sources: Credit Agreement (Calumet Specialty Products Partners, L.P.)

Priority of Liens. The Administrative Agent shall have received ----------------- satisfactory evidence that (i) the Administrative Collateral Agent, on behalf of the Lenders, holds a perfected, first priority Lien on all Collateral (subject only to Permitted Liens) and (ii) none of the Collateral is subject to any other Liens other than Permitted Liens.

Appears in 1 contract

Sources: Credit Agreement (Ameripath Inc)

Priority of Liens. The Administrative Agent shall have received ----------------- satisfactory evidence that (i) the Administrative Collateral Agent, on behalf of the Lenders, holds a perfected, first priority Lien on all Collateral (subject only to Permitted Liens) and (ii) none of the Collateral is subject to any other Liens other than Permitted Liens.

Appears in 1 contract

Sources: Credit Agreement (Delta Woodside Industries Inc /Sc/)

Priority of Liens. The Administrative Agent shall have received ----------------- satisfactory evidence that (i) other than Permitted Liens, the Administrative Agent, on behalf of the applicable Lenders, holds a perfected, first priority Lien on all applicable Collateral (subject only to Permitted Liens) and (ii) none of the Collateral is subject to any other Liens other than Permitted Liens.

Appears in 1 contract

Sources: Credit Agreement (Nacco Industries Inc)

Priority of Liens. The Administrative Agent shall have received ----------------- satisfactory evidence that (i) other than Permitted Liens and subject to the Intercreditor Agreement, the Administrative Agent, on behalf of the applicable Lenders, holds a perfected, first priority Lien on all applicable Collateral (subject only to Permitted Liens) and (ii) none of the Collateral is subject to any other Liens other than Permitted Liens.

Appears in 1 contract

Sources: Term Loan Credit Agreement (Nacco Industries Inc)

Priority of Liens. The Administrative Agent shall have received ----------------- satisfactory evidence that (i) subject to Permitted Liens, the Administrative Agent, on 77 84 behalf of the applicable Lenders, holds a perfected, first priority Lien on all applicable Collateral (subject only to Permitted Liensclause (i) above) and (ii) none of the Collateral is subject to any other Liens other than Permitted Liens.

Appears in 1 contract

Sources: Credit Agreement (Cott Corp /Cn/)

Priority of Liens. The Administrative Agent shall have received ----------------- satisfactory evidence that (i) the Administrative AgentTrustee, on behalf of the LendersCreditors (as defined in the Security Agreement), holds a perfected, first priority Lien on all Collateral (subject only to Permitted Liens) and (ii) none of the Collateral is subject to any other Liens other than Permitted Liens.

Appears in 1 contract

Sources: Credit Agreement (Cornerstone Propane Partners Lp)

Priority of Liens. The Administrative Agent shall have received ----------------- satisfactory evidence that (i) the Administrative Collateral Agent, on behalf of the Lenders, holds a perfected, first priority Lien on all Collateral (subject only to Permitted Liens) and (ii) none of the Collateral is subject to any other Liens other than Permitted Liens.

Appears in 1 contract

Sources: Credit and Guaranty Agreement (Amerigroup Corp)