First Lien Debt Investment definition

First Lien Debt Investment means a Portfolio Investment which is a Debt Security of an Obligor, which is secured by a first priority, perfected security interest in all or substantially all of the assets of the Obligor, and which has the most senior pre-petition priority in any bankruptcy, reorganization, arrangement, insolvency, or liquidation proceedings.
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First Lien Debt Investment means a Portfolio Investment which is a Debt Security of an Issuer, which is secured by a first priority, perfected security interest in all or substantially all of the assets of the Issuer, and which has the most senior pre-petition priority in any bankruptcy, reorganization, arrangement, insolvency, or liquidation proceedings; provided that only the portion of a Eligible First Lien Debt Investment that has a total debt to EBITDA ratio equal to or below 4.00 to 1.00 shall be included as a Eligible First Lien Debt Investment, and the portion of a Eligible First Lien Debt Investment which has a total debt to EBITDA ratio above 4.00 to 1.00 shall be treated as a Eligible Second Lien Debt Investment.
Sample 1Sample 2
First Lien Debt Investment means a Portfolio Investment which is a Debt Security of an Issuer, which is secured by a first priority, perfected security interest in all or substantially all of the assets of the Issuer, and which has the most senior pre-petition priority in any bankruptcy, reorganization, arrangement, insolvency, or liquidation proceedings; provided that only the portion of a Eligible First Lien Debt Investment that has a total debt to EBITDA ratio equal to or below 4.00 to 1.00 shall be included as a Eligible First Lien Debt Investment, and the portion of a Eligible First Lien Debt Investment which has a total debt to EBITDA ratio above 4.00 to
Sample 1

Related to First Lien Debt Investment

  • Consolidated First Lien Debt means, as to any Person at any date of determination, the aggregate principal amount of Consolidated Total Debt outstanding on such date that is secured by a first priority Lien on the Collateral.

  • First Lien Obligations means the Obligations and the Permitted Other Indebtedness Obligations that are secured by Liens on the Collateral that rank on an equal priority basis (but without regard to the control of remedies) with Liens on the Collateral securing the Obligations.

  • First Lien Lenders means the “Lenders” under and as defined in the First Lien Credit Agreement.