Common use of Priority of Security Interest; Further Assurances Clause in Contracts

Priority of Security Interest; Further Assurances. (a) Pledgor will at all times cause the security interest granted pursuant to this Agreement to constitute a valid perfected first priority security interest in the Collateral subject only to the Permitted Security Interests, enforceable as such against all creditors of Pledgor and any Persons purporting to purchase any Collateral from Pledgor. (b) Pledgor will at any time and from time to time, at its own expense, promptly execute and deliver all further instruments and documents, and take all further actions, as may be necessary or desirable, or that the Trustee or any Lender may reasonably request, in order to (i) grant more effectively a security interest in favor of the Trustee in all or any portion of the Collateral, (ii) maintain, preserve, or perfect the security interest and lien created or purported to be created by this Agreement and the first priority status of such security interest and lien, (iii) preserve and defend against any Person Pledgor's title to the Collateral and the rights purported to be granted therein by this Agreement, (iv) enable the Trustee and the Lenders to exercise and enforce their rights and remedies hereunder, or (v) carry out more effectively the purposes of this Agreement.