Prohibition of the Second Lien on Security: The security created or to be
created under this Agreement or any document contemplated herein shall at all times be perfect
and rank first as collateral in favour of the Bank, and I1we and/or the security provider shall not
create any other security interest or collateral right over the property which is the subject matter
of the security created or to be created under this Agreement or any document contemplated
herein.