In the sentences extracted from financial agreements in U.S. SEC filings, identify the named entities that represent a person ('PER'), an organization ('ORG'), or a location ('LOC'). The required answer format is: 'entity name, entity type'.
Text: Borrower represents , warrants , and covenants that the security interest granted herein is and shall at all times continue to be a first priority perfected security interest in the Collateral ( subject only to Permitted Liens that may have superior priority to Agent and / or Lenders ' Lien under this Agreement ).
Answer:
Borrower, PER