First Lien definition

First Lien. With respect to any second lien Mortgage Loan, the mortgage loan relating to the corresponding Mortgaged Property having a first priority lien.

First Lien. With respect to each Mortgaged Property, the lien of the mortgage, deed of trust or other instrument securing a Mortgage Note which creates a first lien on the Mortgaged Property.

First Lien means a Lien granted by a Security Document to the Collateral Agent for the benefit of the holders of First Lien Debt, at any time, upon any property of the Company or any other Guarantor to secure First Lien Obligations.

Examples of First Lien in a sentence

• Prior to the Restatement Amendment, the quarterly principal payments on the first lien term loans under the Prior First Lien Credit Agreement were approximately $6.2 million.

• The maturity date for the First Lien Term Loans shall be on the earliest to occur of (i) the seventh anniversary of the Restatement Effective Date, (ii) the date on which all First Lien Term Loans shall become due and payable in full under the First Lien Credit Agreement, whether by acceleration or otherwise, and (iii) September 25, 2020 if our indebtedness under the Second Lien Credit Agreement has not been repaid, refinanced or extended prior to such date.

• The scheduled quarterly principal payments of the First Lien Term Loans is approximately $6.1 million, beginning in December 2016, with the balance due at maturity.

More Definitions of First Lien

First Lien means with respect to each Mortgaged Property, the lien of the mortgage, deed of trust or other instrument securing a mortgage note which creates a first lien on the Mortgaged Property.

First Lien means the liens on the Collateral in favor of the Secured Parties under the Collateral Documents relating to the Notes and the other Secured Parties under the other Collateral Documents.

First Lien means the liens on the Collateral in favor of the Secured Parties under the Collateral Documents.

First Lien. With respect to any Second Lien Mortgage Loan, the mortgage loan relating to the corresponding Mortgaged Property having a first priority lien. Xxxxxxx Mac: Xxxxxxx Mac, or any successor thereto.

First Lien means the most senior mortgage or deed of trust on the property that is the subject of the notice of default or notice of sale.

First Lien means the Liens on the First-Lien Collateral in favor of the First-Lien Secured Parties under the First-Lien Collateral Documents.

First Lien means a Lien granted by the Company or any other Guarantor in favor of the Collateral Agent, at any time, upon any property of the Company or such other Guarantor to secure First Lien Obligations.