Common use of Priority of Security Interests Clause in Contracts

Priority of Security Interests. The Security Agreement, together with the financing statements which have been filed in connection therewith have created valid first perfected security interests in the personal property of the Borrower described therein as collateral for all the Obligations subject to no prior Encumbrances.

Priority of Security Interests. The Security Agreement, together with upon the filing of financing statements which have been filed in connection therewith have created the appropriate governmental offices, will create valid first perfected security interests in the personal property of the Borrower described therein as collateral for all the Obligations subject to no prior Encumbrances.

Priority of Security Interests. The Security Agreement, together with upon the ------------------------------ filing of financing statements in the appropriate governmental offices and/or in light of the financing statements which have been filed in connection therewith have created already on file with such offices, will create valid first perfected security interests in the personal property of the Borrower described therein as collateral for all the Obligations subject to no prior EncumbrancesEncumbrances except as set forth on Schedule 4.12 attached hereto and by reference made a part hereof.