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Kirby Smart borrows from Nick Saban and Bear Bryant, using the same collateral for both loans. Only Nick Saban has a perfected security interest. Kirby

Kirby Smart borrows from Nick Saban and Bear Bryant, using the same collateral for both loans. Only Nick Saban has a perfected security interest. Kirby Smart defaults on both loans. The party with first rights to the collateral is

Kirby Smart.

Bear Bryant and Nick Saban, in proportion to Kirby Smarts debt to each.

Bear Bryant.

Nick Saban

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