prenda en primer lugar y grado

English translation: first in time and first ranking pledge

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06:42 May 7, 2018
Spanish to English translations [PRO]
Bus/Financial - Finance (general) / Stock Pledge Agreement
Spanish term or phrase: prenda en primer lugar y grado
2.1. Con el objeto de garantizar el pago total y puntual a su vencimiento de todas y cada una de las Obligaciones Garantizadas, los Deudores Prendarios en este acto, constituyen una prenda en primer lugar y grado sobre (a) las Partes Sociales de los que son titulares; y, (b) todos los derechos que de los mismos se deriven, exclusivamente en caso de actualizarse un Evento de Incumplimiento (según dicho término se define en el presente Contrato, así como conforme a lo dispuesto en el Contrato de Notas), en favor del Acreedor Prendario (“Prenda”).

My attempts:

"la prenda o el derecho real en primer lugar y grado constituido" = "right in rem with first ranking lien" based on this: https://www.proz.com/kudoz/spanish_to_english/law_contracts/...

"prenda en primer lugar y grado" = "first ranking and priority pledge"

Suggestions welcome!
Cahalsi
Ireland
Local time: 02:49
English translation:first in time and first ranking pledge
Explanation:
https://www.nolo.com/legal-encyclopedia/what-is-lien-priorit...

https://www.lawinsider.com/clause/first-ranking-pledge
Selected response from:

Francois Boye
United States
Local time: 21:49
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Summary of answers provided
4first in time and first ranking pledge
Francois Boye


  

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10 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5
first in time and first ranking pledge


Explanation:
https://www.nolo.com/legal-encyclopedia/what-is-lien-priorit...

https://www.lawinsider.com/clause/first-ranking-pledge

Francois Boye
United States
Local time: 21:49
Specializes in field
Native speaker of: Native in FrenchFrench
PRO pts in category: 260
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