Acceptable Security Interest

Acceptable Security Interest. A security interest in the Collateral which (a) exists in favor of the secured party under the Security Agreement (as defined in the Bridger Note) for the benefit of the Noteholder, (b) is perfected (with the priority such security interest is expressed to have within the Security Agreement) on the Collateral (to the extent such security interest is required to be perfected under the terms of the Security Agreement and (c) is enforceable against the Borrower in accordance with the terms of the... Security Agreement, except as such enforceability may be limited by applicable law and by general principles of equity and principles of good faith and fair dealing. View More