First Priority Security Interest. The pledge of the Collateral pursuant to this Agreement, the registration of the Secured Party as the holder on the books of EPD and/or EPD’s transfer agent, and the filing of appropriate financing statements in the relevant jurisdictions create a valid and perfected first priority security interest in the Collateral, enforceable against Pledgor and all third parties and securing payment of the Obligations.
Appears in 5 contracts
Sources: Pledge and Security Agreement (Williams Randa Duncan), Pledge and Security Agreement (Williams Randa Duncan), Pledge and Security Agreement (Williams Randa Duncan)