Common use of Security Interest/Priority Clause in Contracts

Security Interest/Priority. This Security Agreement creates a valid security interest in favor of the Administrative Agent, for the benefit of the holders of the Secured Obligations, in the Collateral of such Grantor and, when properly perfected by filing, shall constitute a valid perfected security interest in such Collateral, to the extent such security interest can be perfected by filing under the UCC, free and clear of all Liens except for Permitted Liens.

Security Interest/Priority. This Security Agreement creates a valid security interest in favor of the Administrative Agent, for the benefit of the holders of the Secured ObligationsLenders, in the Collateral of such Grantor Obligor and, when properly perfected by filing, shall constitute a valid perfected security interest in such Collateral, to the extent such security interest can be perfected by filing under the UCC, free and clear of all Liens except for Permitted Liens.

Security Interest/Priority. This Security Agreement creates a valid security interest in favor of the Administrative Collateral Agent, for the benefit of the holders of the Secured Obligations, in the Collateral of such Grantor and, when properly perfected by filing, shall constitute a valid perfected security interest in such Collateral, to the extent such security interest can be perfected by filing under the UCC, free and clear of all Liens except for Permitted Liens.

Security Interest/Priority. This Security Agreement creates a valid security interest in favor of the Administrative Agent, for the benefit of the holders of the Secured ObligationsParties, in the Collateral of such Grantor and, when properly perfected by filing, shall constitute a valid valid, perfected security interest in such Collateral, to the extent such security interest can be perfected by filing under the UCC, free and clear of all Liens except for Permitted Liens.

Security Interest/Priority. This Security Agreement creates a valid security interest in favor of the Administrative Agent, for the benefit of the holders of the Secured Obligations, in the Collateral of such Grantor andGrantor, when except as enforceability may be limited by applicable Debtor Relief Laws or by equitable principles relating to enforceability. When properly perfected by filingfiling of financing statements, such security interest shall constitute a valid perfected security interest in such Collateral, to the extent such security interest can be perfected by filing of financing statements under the UCC, free and clear of all Liens except for Permitted Liens.

Security Interest/Priority. This Security Agreement creates a valid security interest in favor of the Administrative Agent, for the benefit of the holders of the Secured ObligationsLenders, in the Collateral of such Grantor Obligor and, when properly perfected by filing, shall constitute a valid perfected security interest in such Collateral, to the extent such security interest can be perfected by filing under the UCC, free and clear of all Liens except for Permitted Liens.

Security Interest/Priority. This Domestic Security Agreement creates a valid security interest in favor of the Administrative Agent, for the benefit of the holders of the Secured Obligations, in the Collateral of such Grantor and, when properly perfected by filing, shall constitute a valid perfected security interest in such Collateral, to the extent such security interest can be perfected by filing under the UCC, free and clear of all Liens except for Permitted Liens.

Security Interest/Priority. This Security Agreement creates a valid security interest in favor of the Administrative Agent, for the benefit of the holders of the Secured ObligationsLenders, in the Collateral of pledged by such Grantor Obligor hereunder and, when properly perfected by filing, shall constitute a valid perfected security interest in such Collateral, to the extent such security interest can be perfected by filing under the UCC, free and clear of all Liens except for Permitted Liens.

Security Interest/Priority. This Security Agreement creates a valid security interest in favor of the Administrative Collateral Agent, for the ratable benefit of the holders of the Secured Obligations, in the Collateral of such Grantor and, when properly perfected by filing, shall constitute a valid perfected security interest in such Collateral, to the extent such security interest can be perfected by filing under the UCC, free and clear of all Liens except for Permitted Liens.

Security Interest/Priority. This Security Agreement creates a valid security interest in favor of the Administrative Collateral Agent, for the benefit of the holders of the Secured ObligationsLenders, in the Collateral of such Grantor Obligor and, when properly perfected by filingfiling or otherwise, shall constitute a valid first priority, perfected security interest in such Collateral, to the extent such security interest can be perfected by filing or otherwise under the UCC, federal law or other applicable personal property security legislation, free and clear of all Liens except for Permitted Liens.

Security Interest/Priority. This Security Agreement creates a valid security interest in favor of the Administrative Collateral Agent, for the benefit of the holders of the Secured Obligations, in the Collateral of such Grantor and, when properly perfected by filing, shall constitute a valid perfected and perfected, first priority security interest in such Collateral, to the extent such security interest can be perfected by filing under the UCC, free and clear of all Liens except for Permitted Liens.

Security Interest/Priority. This Security Agreement creates a valid security interest in favor of the Administrative Agent, for the benefit of the holders of the Secured ObligationsLenders, in the Collateral of such Grantor each Credit Party and, when properly perfected by filingfiling or registration, shall constitute a valid perfected security interest in such Collateral, to the extent such security interest can be perfected by filing under the UCC, federal law or other applicable personal property security legislation, free and clear of all Liens except for Permitted Liens.

Security Interest/Priority. This Security Agreement creates a valid security interest in favor of the Administrative Agent, for the ratable benefit of the holders of the Secured Obligations, in the Collateral of such Grantor and, when properly perfected by filing, shall constitute a valid perfected security interest in such Collateral, to the extent such security interest can be perfected by filing under the UCC, free and clear of all Liens except for Permitted Liens.

Security Interest/Priority. This Security Agreement creates a valid security interest in favor of the Administrative Collateral Agent, for the benefit of the holders of the Secured Obligations, in the Collateral of such Grantor and, when properly perfected by filing, shall constitute a valid perfected and perfected, first priority security interest in such Collateral, to the extent such security interest can be perfected by filing under the UCC, free and clear of all Liens except for Permitted Liens.

Security Interest/Priority. This Security Agreement creates a valid security interest in favor of the Administrative Collateral Agent, for the benefit of the holders of the respective Secured ObligationsParties, in the Collateral of such Grantor Obligor and, when properly perfected by filing, shall constitute a valid first priority, perfected security interest in such Collateral, to the extent such security interest can be perfected by filing a financing statement under the UCCUCC of the jurisdiction of organization of such Obligor, free and clear of all Liens except for Permitted Liens.

Security Interest/Priority. This Security Agreement creates a valid security interest in favor of the Administrative Agent, for the benefit of the holders of the Secured ObligationsLenders, in the Collateral of such Grantor Obligor and, when properly perfected by filingfiling of Uniform Commercial Code financing statements, shall constitute a valid perfected security interest in such Collateral, to the extent such security interest can be perfected by filing under the UCC, free and clear of all Liens except for Permitted Liens.

Security Interest/Priority. This Security Agreement creates a valid security interest in favor of the Administrative Agent, for the benefit of the holders of the Secured ObligationsParties, in the Collateral rights of such Grantor in the Collateral to the extent such security interest may be created under the UCC and, when properly perfected by filingfiling of a UCC financing statement, shall constitute a valid valid, perfected security interest in such Collateral, to the extent such security interest can be perfected by filing a financing statement under the UCC, free and clear of all Liens except for Permitted Liens.

Security Interest/Priority. This Security Agreement creates a valid security interest in favor of the Administrative Collateral Agent, for the benefit of the holders of the Secured ObligationsLenders, in the Collateral of such Grantor Obligor and, when properly perfected by filing, shall constitute a valid perfected security interest in such Collateral, to the extent such security interest can be perfected by filing under the UCC, free and clear of all Liens except for Permitted Liens.

Security Interest/Priority. This Security Agreement creates a valid security interest in favor of the Administrative Agent, for the benefit of the holders of the Secured ObligationsLenders, in the Collateral of such Grantor each Loan Party and, when properly perfected by filing, shall constitute a valid perfected security interest in such Collateral, to the extent such security interest can be perfected by filing under the UCC, free and clear of all Liens except for Permitted Liens.

Security Interest/Priority. This Security Agreement creates a valid security interest in favor of the Administrative Agent, for the benefit of the holders of the Secured ObligationsLenders, in the Collateral of such Grantor the Debtor and, when properly perfected by filingfiling or otherwise, shall constitute a valid first priority, perfected security interest in such Collateral, to the extent such security interest can be perfected by filing or otherwise under the UCCUCC or by filing an appropriate notice with the United States Patent and Trademark Office or the United States Copyright Office, free and clear of all Liens except for Permitted Liens.

Security Interest/Priority. This Security Agreement creates a valid security interest in favor of the Administrative Agent, for the benefit of the holders of the Secured Obligations, Lender in the Collateral of such Grantor Obligor and, when properly perfected by filing, shall constitute a valid perfected and perfected, first priority security interest in such Collateral, Collateral to the extent such security interest can be perfected by filing under the UCC, free and clear of all Liens except for Permitted Liens.

Security Interest/Priority. This Security Agreement creates a valid security interest in favor of the Administrative Collateral Agent, for the benefit of the holders of the Secured ObligationsHolders, in the Collateral of such Grantor Obligor and, when properly perfected by filingfiling or otherwise, shall constitute a valid second priority, perfected security interest in such Collateral, to the extent such security interest can be perfected by filing or otherwise under the UCC, federal law or other applicable personal property security legislation, free and clear of all Liens except for Permitted Liens.

Security Interest/Priority. This Security Agreement creates a valid security interest in favor of the Administrative Agent, for the benefit of the holders of the Secured ObligationsLenders, in the Collateral of such Grantor Obligor and, when properly perfected by filingfiling or upon the Agent obtaining Control of such Collateral, shall constitute a valid first priority, perfected security interest in such Collateral, to the extent such security interest can be perfected by filing or through Control under the UCCUCC (or equivalent local law), free and clear of all Liens except for Permitted Liens.

Security Interest/Priority. This Security Agreement creates a valid security interest in favor of the Administrative Collateral Agent, for the benefit of the holders of the Secured Obligations, in the Collateral of such Grantor and, when properly perfected by filing, shall constitute a valid perfected security interest in such Collateral, to the extent such security interest can be perfected by filing under the UCC, free and clear of all Liens except for Permitted LiensLiens permitted under the Financing Documents.

Security Interest/Priority. This Security Agreement creates a valid security interest in favor of the Administrative Agent, for the benefit of the holders of the Secured ObligationsParties, in the Collateral of such Grantor and, when properly perfected by filing, shall constitute a valid perfected security interest in such Collateral, to the extent such security interest can be perfected by filing under the UCC, free and clear of all Liens except for Permitted Liens.

Security Interest/Priority. This Security Agreement creates a valid security interest in favor of the Administrative Collateral Agent, for the benefit of the holders of the Secured Obligations, in the Collateral of such Grantor and, when properly perfected by filing, shall constitute a valid perfected security interest in such Collateral, to the extent such security interest can be perfected by filing under the UCC, free and clear of all Liens except for Permitted LiensLiens and the security interest of the Collateral Agent hereunder.

Security Interest/Priority. This Security Agreement creates a valid security interest in favor of the Administrative Agent, for the benefit of the holders of the Secured ObligationsParties, in the Collateral of such Grantor and, when properly perfected by filingfiling appropriate financing statements under the UCC, shall constitute a valid perfected security interest in such Collateral, to the extent such security interest in such Collateral can be perfected by filing under the UCC, free and clear of all Liens except for Permitted Liens.

Security Interest/Priority. This Security Agreement creates a valid security interest in favor of the Administrative Collateral Agent, for the benefit of the holders of Agents and the Secured ObligationsLenders, in the Collateral of such Grantor and, when properly perfected by filing, shall constitute a valid perfected security interest in such Collateral, to the extent such security interest interests can be perfected by filing under the UCC, free and clear of all Liens except for Permitted Liens.

Security Interest/Priority. This Security Agreement creates a valid security interest in favor of the Administrative Agent, for the benefit of the holders of the Secured ObligationsBanks, in the Collateral of such Grantor Obligor and, when properly perfected by filingfiling or otherwise, shall constitute a valid first priority, perfected security interest in such Collateral, to the extent such security interest can be perfected by filing or otherwise under the UCC, free and clear of all Liens except for Permitted LiensLiens permitted under Section 5.09 of the Credit Agreement.

Security Interest/Priority. This Security Agreement creates a valid security interest in favor of the Administrative Agent, for the benefit of the holders of the Secured ObligationsLenders, in the Collateral of such Grantor Obligor and, when properly perfected by filingfiling or upon the Agent obtaining Control of such Collateral, shall constitute a valid first priority, perfected security interest in such Collateral, to the extent such security interest can be perfected by filing or through Control under the UCCUCC (or similar local law), free and clear of all Liens except for Permitted Liens.

Security Interest/Priority. This Security Agreement creates a valid security interest in favor of the Administrative Agent, for the benefit of the holders of the Secured ObligationsLenders, in the Collateral (excluding any Collateral which is non-assignable by its terms) of such Grantor Obligor and, when properly perfected by filingfiling or registration, shall constitute a valid perfected security interest in such Collateral, to the extent such security interest can be perfected by filing under the UCCUCC or other applicable personal property security legislation, free and clear of all Liens except for Permitted Liens.

Security Interest/Priority. This Security Agreement creates a valid security interest in favor of the Administrative Collateral Agent, for the benefit of the holders of the Secured ObligationsLenders, in the Collateral (excluding any Collateral which is non-assignable by its terms) of such Grantor Obligor and, when properly perfected by filing, recordation or registration, shall constitute a valid perfected security interest in such Collateral, to the extent such security interest can be perfected by filing under the UCCUCC or other applicable personal property security legislation, free and clear of all Liens except for Permitted Liens.

Security Interest/Priority. This Security Agreement creates a valid security interest in favor of the Administrative Agent, for the benefit of the holders of the Secured Obligations, Lender in the Collateral of such Grantor and, when properly perfected by filing, shall constitute a valid perfected security interest in such the Collateral, to the extent such security interest can be perfected by filing under the UCC, free and clear of all Liens except for Permitted Liens.

Security Interest/Priority. This Security Agreement creates a valid security interest in favor of the Administrative Agent, for the benefit of the holders of the Secured ObligationsParties, in the Collateral of such Grantor and, when properly perfected by filing, shall constitute a valid perfected security interest in such the Collateral, to the extent such security interest can be perfected by filing under the UCC, free and clear of all liens and other encumbrances other than Permitted Liens except for Permitted Liens(as defined in the Credit Agreement).

Security Interest/Priority. This Security Agreement creates a valid security interest in favor of the Administrative Collateral Agent, for the benefit of the holders of the Secured ObligationsLenders, in the Collateral of such Grantor Obligor and, when properly perfected by filing, shall constitute a valid perfected security interest in such Collateral, to the extent such security interest can be perfected by filing under the UCC, free and clear of all Liens except for Permitted Liens.

Security Interest/Priority. This Security Agreement creates a valid security interest in favor of the Administrative Agent, for the benefit of the holders of the Secured Obligations, in the Collateral of such Grantor Obligor and, when properly perfected by filing, shall constitute a valid perfected security interest in such Collateral, to the extent such security interest can be perfected by filing under the UCC, free and clear of all Liens except for Permitted LiensLiens and subject to clause (iii) in the last sentence of Section 2.

Security Interest/Priority. This Security Agreement creates a -------------------------- valid security interest in favor of the Administrative Agent, for the benefit of the holders of the Secured ObligationsLenders, in the Collateral of such Grantor Obligor and, when properly perfected by filing, shall constitute a valid perfected security interest in such Collateral, to the extent such security interest can be perfected by filing under the UCC, free and clear of all Liens Liens, except for Permitted Liens.

Security Interest/Priority. This Security Agreement creates a valid security interest in favor of the Administrative Agent, for the benefit of the holders of the Secured Obligations, in the Collateral of such Grantor Obligor and, when properly perfected by filing, shall constitute a valid perfected and perfected, first priority security interest in such Collateral, to the extent such security interest can be perfected by filing under the UCC, free and clear of all Liens except for Permitted Liens.

Security Interest/Priority. This Security Agreement creates a valid security interest in favor of the Administrative Collateral Agent, for the benefit of the holders of Agents and the Secured ObligationsLenders, in the Collateral of such the Grantor and, when properly perfected by filing, shall constitute a valid perfected security interest in such Collateral, to the extent such security interest interests can be perfected by filing under the UCC, free and clear of all Liens except for Permitted Liens.

Security Interest/Priority. This Security Agreement creates a valid security interest in favor of the Administrative Agent, for the benefit of the holders of the Secured ObligationsLenders, in the Collateral of such Grantor Debtor and, when properly perfected by filingfiling or otherwise, shall constitute a valid first priority, perfected security interest in such Collateral, to the extent such security interest can be perfected by filing or otherwise under the UCCUCC or by filing an appropriate notice with the United States Patent and Trademark Office or the United States Copyright Office, free and clear of all Liens except for Permitted Liens.

Security Interest/Priority. This Security Agreement creates a valid security interest in favor of the Administrative Agent, for the benefit of the holders of the Secured ObligationsLenders, in the Collateral of such Grantor Obligor and, when properly perfected by filing, shall constitute a valid perfected security interest in such Collateral, to the extent such security interest can be perfected by filing under the UCC, free and clear of all Liens Liens, except for Permitted Liens.

Security Interest/Priority. This Security Agreement creates a valid security interest in favor of the Administrative Agent, for the benefit of the holders of the Secured ObligationsLenders, in the Collateral of such Grantor Obligor and, when properly perfected by filingfiling or upon the Agent's obtaining Control of such Collateral, shall constitute a valid first priority, perfected security interest in such Collateral, to the extent such security interest can be perfected by filing or through Control under the UCC, free and clear of all Liens except for Permitted Liens.

Security Interest/Priority. This Security Agreement creates a -------------------------- valid security interest in favor of the Administrative Agent, for the benefit of the holders of the Secured ObligationsLenders, in the Collateral of such Grantor Obligor and, when properly perfected by filingfiling or otherwise, shall constitute a valid perfected security interest in such Collateral, to the extent such security interest can be perfected by filing or otherwise under the UCC, free and clear of all Liens except for Permitted Liens.

Security Interest/Priority. This Security Agreement creates a valid security interest in favor of the Administrative Agent, for the benefit of the holders of the Secured ObligationsLenders, in the Collateral of such Grantor each Credit Party and, when properly perfected by filing, registration or otherwise, shall constitute a valid first priority, perfected security interest in such Collateral, to the extent such security interest can be perfected by filing under the UCC, federal law or other applicable personal property security legislation, free and clear of all Liens except for Permitted Liens.

Security Interest/Priority. This Security Agreement creates a valid security interest in favor of the Administrative Agent, for the benefit of the holders of the Secured Obligations, in the Collateral of such Grantor and, when properly perfected by filing, shall constitute a valid perfected and perfected, first priority security interest in such Collateral, to the extent such security interest can be perfected by filing under the UCC, free and clear of all Liens except for Permitted LiensLiens permitted pursuant to Section 7.01 of the Credit Agreement.

Security Interest/Priority. This Security Agreement creates a -------------------------- valid security interest in favor of the Administrative Agent, for the benefit of the holders of the Secured ObligationsLenders, in the Collateral of such Grantor Obligor and, when properly perfected by filing, shall constitute a valid perfected security interest in such Collateral, to the extent such security interest can be perfected by filing under the UCC, free and clear of all Liens except for Permitted LiensLiens permitted under the Credit Documents.

Security Interest/Priority. This Security Agreement creates a valid security interest in favor of the Administrative Agent, for the benefit of the holders of the Secured ObligationsLenders, in the Collateral of such Grantor Obligor and, when properly perfected by filingfiling or otherwise, shall constitute a valid first priority, perfected security interest in such Collateral, to the extent such security interest can be perfected by filing or otherwise under the UCC, free and clear of all Liens except for Permitted Liens.

Security Interest/Priority. This Security Agreement creates a valid security interest in favor of the Domestic Administrative Agent, for the benefit of the holders of the Secured ObligationsParties, in the Collateral of such Grantor and, when properly perfected by filing, shall constitute a valid valid, perfected security interest in such Collateral, to the extent such security interest can be perfected by filing under the UCC, free and clear of all Liens except for Permitted Liens.

Security Interest/Priority. This Security Agreement creates a valid security interest in favor of the Administrative Agent, for the benefit of the holders of the Secured ObligationsLenders, in the Collateral of such Grantor Obligor and, when properly perfected by filingfiling or upon the Agent’s obtaining Control of such Collateral, shall constitute a valid first priority, perfected security interest in such Collateral, to the extent such security interest can be perfected by filing or through Control under the UCC, free and clear of all Liens except for Permitted Liens.

Security Interest/Priority. This Security Agreement creates a valid security interest in favor of the Administrative Agent, for the benefit of the holders of the Secured ObligationsLenders, in the Collateral of such Grantor Obligor and, when properly perfected by filingfiling or otherwise, shall constitute a valid perfected security interest in such Collateral, to the extent such security interest can be perfected by filing or otherwise under the UCC, free and clear of all Liens except for Permitted Liens.

Security Interest/Priority. This Security Agreement creates a valid security interest in favor of the Administrative Agent, for the benefit of Administrative Agent and the other holders of the Secured Obligations, in the Collateral of such the Grantor and, when properly perfected by filing, shall constitute a valid perfected security interest in such Collateral, to the extent such security interest can be perfected by filing under the UCC, free and clear of all Liens except for Permitted Liens.

Security Interest/Priority. This Security Agreement creates a valid security interest in favor of the Administrative Agent, for the benefit of the holders of the Secured ObligationsParties, in the Collateral of such Grantor and, when properly perfected by filing, shall constitute a valid perfected and perfected, first priority security interest in such Collateral, to the extent such security interest can be perfected by filing under the UCC, free and clear of all Liens except for Permitted LiensEncumbrances. No Grantor has authenticated any agreement authorizing any secured party thereunder to file a financing statement, except to perfect Permitted Encumbrances.

Security Interest/Priority. This Security Agreement creates a valid security interest in favor of the Administrative Agent, for the benefit of the holders of the Secured ObligationsLenders, in the Collateral of such Grantor Borrower and, when properly perfected by filing, shall constitute a valid perfected security interest in such Collateral, to the extent such security interest can be perfected by filing under the UCC, free and clear of all Liens Liens, except for Permitted Liens.

Security Interest/Priority. This Security Agreement creates a valid security interest in favor of the Administrative Agent, for the benefit of the holders of the Secured ObligationsLenders, in the Collateral of such Grantor Obligor and, when properly perfected by filing, shall constitute a valid first priority, perfected security interest in such Collateral, to the extent such security interest can be perfected by filing a financing statement under the UCCUCC of the jurisdiction of organization of such Obligor, free and clear of all Liens except for Permitted Liens.