Senior Liens. (a) If at any time Navistar Financial desires to subordinate the Trustee’s Security Interest in any cash, marketable securities or Equipment and any Proceeds thereof to a Lien (a “Senior Lien”) on such Collateral that is not prohibited by any Secured Instrument, Navistar Financial shall deliver to the Trustee (and concurrently deliver to the Administrative Agent for distribution to each of the Lenders) a certificate of a Responsible Officer:
Senior Liens. Except for taking the actions required of SERVICER in paragraph 3(n) & (m) above, Xxxxxx agrees that SERVICER is not responsible for monitoring senior liens. The Lender shall supply all information necessary for SERVICER to record a Request for Notice of Default on senior liens so that SERVICER may receive notices of default and notices of sale on senior liens to forward to Lender. SERVICER will attempt to obtain figures from the senior lienholder necessary to bring delinquent senior liens current one time during senior lien foreclosure process if notice of default has been received by SERVICER. Once SERVICER has provided notice to Lender one time with the amount necessary to cure (bring current) a senior loan, should Xxxxxx decline to bring the senior loan current at that time, Xxxxxx is solely responsible for obtaining further cure figures from the senior lienholder. On an in-process transfer file or a new closing in which a Request for Notice of Default has not been recorded in escrow in favor of SERVICER, SERVICER shall not be responsible for any interim Notice of Default, Notice of Trustee Sale or Trustee Sale on the senior lien for a period of 60-days from date SERVICER has received the complete loan file to enter into its system.
Senior Liens. The County shall not incur, create or permit to exist any Lien on all or any part of the Pledged Taxes that is senior or on a parity with the Lien created by the Indenture for the benefit of the Purchaser, other than Liens created under and in accordance with the terms of the Indenture; provided that no provisions of this Agreement, shall be deemed to impose any restriction on the County’s power or authority to issue Indebtedness of any type or in any amount, including Indebtedness secured by the full faith and credit of the County.
Senior Liens. Without limiting the generality of the foregoing, the Company shall cause each other Related Party to xxxxx x Xxxx in favor of the Note Purchaser in any property, real, personal or mixed, which secures the Senior Debt.
Senior Liens. Each senior loan on a Mortgaged Property permits the ------------ granting of a junior lien similar to the related Home Equity Loan without consent.
Senior Liens. Each Lender hereby instructs the Administrative Agent and the Collateral Agent to enter into the Security Agreement and the Intercreditor Agreement and such amendments or modifications thereto and to the other Security Documents consistent herewith as the Administrative Agent or the Collateral Agent reasonably determines to be necessary to cause the Liens granted by the Borrowers and the Restricted Subsidiaries in favor of the Administrative Agent and Lenders to secure the Obligations to be senior to the Liens granted to secure the Term Loan Obligations. Each Lender agrees that it shall be bound by the terms of the Intercreditor Agreement.
Senior Liens. Except as disclosed on Schedule 3.1 (hh), as of the Closing Date, no Existing Indebtedness of the Company is secured by Existing Liens that are senior to the Liens securing payment of the Debentures, whether with respect to principal, interest or upon maturity, liquidation or dissolution.
Senior Liens. If this Mortgage is a second or more junior mortgage on the Mortgaged Property, then: (i) Mortgagor shall fully, faithfully and punctually perform and comply with each and every term, covenant, and condition of any more senior mortgage (a "Senior Mortgage") and never permit the same to go into default; (ii) the occurrence of any circumstance or event that would permit the holder of any Senior Mortgage to exercise any remedy under such Senior Mortgage shall automatically and immediately (upon the expiration of any applicable grace period provided for under the Senior Mortgage) and without notice from Mortgagee constitute an Event of Default under this Mortgage; (iii) Mortgagor shall not make any agreement with the holder of any Senior Mortgage that shall in any way modify, change, alter or extend any of the terms or conditions set forth in such Senior Mortgage or in any instrument executed in connection therewith, nor shall Mortgagor request or accept any future advances under such Senior Mortgage or any such other instrument, without Mortgagee's express written consent; and (iv) so long as the Senior Mortgage has not been discharged, notwithstanding anything to the contrary in this Mortgage, the relative priorities of this Mortgage and the Senior Mortgage(s) shall be governed by otherwise applicable law.
Senior Liens. If we receive notice of the initiation of foreclosure by a senior lien, we will notify you.
Senior Liens not prohibited by any Security Document, Harco shall deliver to the Collateral Agent a certificate of a Responsible Officer of Harco:
