Initial Liens definition

Initial Liens has the meaning set forth in Section 5.1(b)(i).
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Initial Liens has the meaning specified in Section 7.01(a).
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Examples of Initial Liens in a sentence

  • The Pari Passu Liens granted pursuant to this provision shall be (i) granted concurrently with the granting of any such Initial Liens, and (ii) granted pursuant to instruments, documents and agreements which are no less favorable to the trustee and the holders of the Notes than those granted to secure the Existing Senior Notes.

  • The Liens to be granted to secure the First Lien Loan Document Obligations pursuant to the proviso to the definition of “Permitted Liens” in the Credit Agreement will be given in accordance with the Agreed Security Principles and on terms no less favorable to the Parent Borrower and its Restricted Subsidiaries than those contained in the Security Documents entered into on the Closing Date and the Security Documents pursuant to which the Initial Liens are created.

  • Tradesmen registered the Initial Liens on title to real property on which the Project is located, which real property is owned by third parties.

  • The litigation comprised of Tradesmen’s Initial Liens (and two further liens described below) and the corresponding claims against the third party owners of the real property on which the liens are registered, and Tradesmen’s claims against Teck and Fluor (collectively, the “ Litigation”) is Tradesmen’s most significant asset.

Related to Initial Liens

  • Initial Lien as defined in Subsection 8.6.

  • Permitted Liens means, with respect to any Person:

  • Environmental Lien means any Lien in favor of any Governmental Authority for Environmental Liabilities and Costs.

  • Permitted Encumbrances means:

  • Permitted Encumbrance means, with respect to any Mortgaged Property, such exceptions to title as are set forth in the Mortgage Policy delivered with respect thereto, all of which exceptions must be acceptable to the Administrative Agent in its reasonable discretion.

  • Permitted Prior Liens means (a) Liens securing Priority Lien Obligations not exceeding the Priority Lien Cap, (b) Liens described in clauses (5), (6), (10) or (11) of the definition of "Permitted Liens" and (c) Liens that arise by operation of law and are not voluntarily granted, to the extent entitled by law to priority over the security interests created by the Security Documents.

  • Agricultural lien means an interest, other than a security interest, in farm products:

  • Liens means a lien, charge, pledge, security interest, encumbrance, right of first refusal, preemptive right or other restriction.

  • Encumbrances means any mortgages, pledges, liens, security interests, conditional and installment sale agreements, activity and use limitations, conservation easements, deed restrictions, encumbrances and charges of any kind.

  • Adverse Claim means a lien, security interest, charge or encumbrance, or other right or claim in, of or on any Person’s assets or properties in favor of any other Person.

  • Permitted Lien means the individual and collective reference to the following: (a) Liens for taxes, assessments and other governmental charges or levies not yet due or Liens for taxes, assessments and other governmental charges or levies being contested in good faith and by appropriate proceedings for which adequate reserves (in the good faith judgment of the management of the Company) have been established in accordance with GAAP, (b) Liens imposed by law which were incurred in the ordinary course of the Company’s business, such as carriers’, warehousemen’s and mechanics’ Liens, statutory landlords’ Liens, and other similar Liens arising in the ordinary course of the Company’s business, and which (x) do not individually or in the aggregate materially detract from the value of such property or assets or materially impair the use thereof in the operation of the business of the Company and its consolidated Subsidiaries or (y) are being contested in good faith by appropriate proceedings, which proceedings have the effect of preventing for the foreseeable future the forfeiture or sale of the property or asset subject to such Lien and (c) Liens incurred in connection with Permitted Indebtedness.

  • Encumbrance means any mortgage, charge, pledge, hypothecation, security interest, assignment, lien or claim of lien (statutory or otherwise), easement, deemed or statutory trust, restrictive covenant, adverse claim, exception, reservation, right of occupation, any matter capable of registration against title, right of pre-emption, privilege or other encumbrance or third party right of any nature or any other arrangement or condition that, in substance, secures payment or performance of an obligation;