ABL Declined Lien definition

ABL Declined Lien shall have the meaning set forth in Section 2.3 hereof.
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ABL Declined Lien has the meaning set forth in Section 2.04(a).
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ABL Declined Lien has the meaning set forth in Section 2.3(a). “ABL Default” means any “Event of Default”, as that term is defined in the ABL Credit Agreement. “ABL Default Disposition” has the meaning set forth in Section 5.1(h). “ABL Deficiency Claim” means any portion of the ABL Debt consisting of an allowed unsecured claim under Section 506(a) of the Bankruptcy Code (or any similar provision under any other Bankruptcy Law). “ABL DIP Financing” has the meaning set forth in Section 6.2(a). “ABL DIP Financing Conditions” means that:
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Examples of ABL Declined Lien in a sentence

  • If the new Term Loan Obligations under the new Term Loan Documents are secured by assets of any ABL Grantor constituting ABL Priority Collateral that do not also secure the ABL Obligations, then the ABL Obligations shall be secured at such time by a first-priority Lien on such assets to the same extent provided in the ABL Collateral Documents and this Agreement except to the extent such Lien on such assets constitutes an ABL Declined Lien.

  • If the new Term Loan Claims under the new Term Loan Documents are secured by assets of the Grantors constituting Collateral that do not also secure the ABL Claims, then the ABL Claims shall be secured at such time by a second-priority Lien on such assets to the same extent provided in the ABL Collateral Documents and this Agreement except to the extent such Lien on such assets constitutes an ABL Declined Lien.

  • Notwithstanding anything herein or in any other document or agreement to the contrary, (a) the assets that are subject to an ABL Declined Lien or an ABL Excluded Lien shall not secure the ABL Claims and (b) the assets that are subject to a Term/Note Declined Lien shall not secure the Term/Note Claims.

  • If the new Term Loan Obligations under the new Term Loan Documents are secured by assets of the ABL Grantor constituting ABL Priority Collateral that do not also secure the ABL Obligations, then the ABL Obligations shall be secured at such time by a first-priority Lien on such assets to the same extent provided in the ABL Collateral Documents and this Agreement except to the extent such Lien on such assets constitutes an ABL Declined Lien.

  • If the new Term Loan Obligations under the new Term Loan Documents are secured by assets of any New Grantor constituting Term Loan Priority Collateral that do not also secure the ABL Obligations, then the ABL Obligations shall be secured at such time by a second-priority Lien on such assets to the same extent provided in the Pari Passu Collateral Documents and this Agreement except to the extent such Lien on such assets constitutes an ABL Declined Lien.