Intervening Lien definition

Intervening Lien has the meaning assigned to such term in Section 2.02.
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Intervening Lien has the meaning set forth in Section 2.7.
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Intervening Lien means a Lien which arises after the Effective Date, or which arose prior to the Effective Date and which was not disclosed to Bank, and which attaches or may attach to the Personal Property Collateral, and which has or may create an interest in the Personal Property Collateral that is or may be senior in priority to the Bank’s Security Interest.
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Examples of Intervening Lien in a sentence

  • In furtherance of the foregoing, in the event First Lien Obligations of any Class shall be subject to an Impairment in the form of an Intervening Lien of any Intervening Creditor, the value of any Shared Collateral or Proceeds that are allocated to such Intervening Creditor shall be deducted solely from the Shared Collateral or Proceeds to be distributed in respect of First Lien Obligations of such Class.

  • In furtherance of the foregoing, in the event First Lien Obligations of any Class of Pari Passu Lien Indebtedness shall be subject to an Impairment in the form of an Intervening Lien of any Intervening Creditor, the value of any Shared Collateral or Proceeds that are allocated to such Intervening Creditor shall be deducted solely from the Shared Collateral or Proceeds to be distributed in respect of First Lien Obligations of such Class.

  • In furtherance of the foregoing, in the event First Lien Obligations of any Class of First Lien Obligations shall be subject to an Impairment in the form of an Intervening Lien of any Intervening Creditor, the value of any Shared Collateral or Proceeds that are allocated to such Intervening Creditor shall be deducted solely from the Shared Collateral or Proceeds to be distributed in respect of First Lien Obligations of such Class.

  • In furtherance of the foregoing, in the event Pari Passu Lien Obligations of any Class of Pari Passu Lien Obligations shall be subject to an Impairment in the form of an Intervening Lien of any Intervening Creditor, the value of any Shared Collateral or Proceeds that are allocated to such Intervening Creditor shall be deducted solely from the Shared Collateral or Proceeds to be distributed in respect of Pari Passu Lien Obligations of such Class.

  • In furtherance of the foregoing, in the event Pari Passu Lien Obligations of any Class shall be subject to an Impairment in the form of an Intervening Lien of any Intervening Creditor, the value of any Shared Collateral or Proceeds that are allocated to such Intervening Creditor shall be deducted solely from the Shared Collateral or Proceeds to be distributed in respect of Pari Passu Lien Obligations of such Class.

  • In furtherance of the foregoing, in the event the Secured Obligations of a Class shall be subject to an Impairment in the form of an Intervening Lien of any Intervening Creditor, the value of any Collateral or Proceeds that are allocated to such Intervening Creditor shall be deducted solely from the Collateral or Proceeds to be distributed in respect of the Secured Obligations of such Class.

  • In furtherance of the foregoing, in the event Obligations of any Secured Party shall be subject to an Impairment in the form of an Intervening Lien of any Intervening Creditor, the value of any Common Collateral or Proceeds that are allocated to such Intervening Creditor shall be deducted solely from the Common Collateral or Proceeds to be distributed in respect of Obligations owing to such Secured Party.

  • If Seller or Purchaser receives notice of any Intervening Lien, such party shall notify the other party in within five (5) days of receipt of such notice (the “Gap Notice”).

  • Effect of Intervening Lien Rights Having found that Envoy did not record its foreclosure deed within the statutory safe harbor, the Court must now consider the effect of the Trustee’s intervening assertion of lien rights.

  • In furtherance of the foregoing, in the event Pari Passu Obligations of any Series shall be subject to an Impairment in the form of an Intervening Lien of any Intervening Creditor, the value of any Shared Collateral or Proceeds that are allocated to such Intervening Creditor shall be deducted solely from the Shared Collateral or Proceeds to be distributed in respect of Pari Passu Obligations of such Series.


More Definitions of Intervening Lien

Intervening Lien means any Lien which is not an Outstanding Lien and encumbers any of the Purchased Assets as of the Closing Date.
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Intervening Lien shall have the meaning set forth in Section 4.1(b).
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Related to Intervening Lien

  • Intervening Creditor has the meaning assigned to such term in Section 2.01(a).

  • Intervening Event has the meaning set forth in Section 6.5(f).

  • Intervening Assignments The original intervening assignments of the Mortgage, notices of transfer or equivalent instrument.

  • Intervening Trust Vehicle with respect to any Securitization Vehicle that is a CDO, shall mean a trust vehicle or entity that holds any Note as collateral securing (in whole or in part) any obligation or security held by such Securitization Vehicle as collateral for the CDO.

  • Existing Lien shall have the meaning assigned to such term in Section 6.02(c).

  • Parent Intervening Event means a material development or change in circumstance that occurs or arises after the date of this Agreement that was not known to or reasonably foreseeable by the Parent Board as of the date of this Agreement (or, if known or reasonably foreseeable, the magnitude or material consequences of which were not known or reasonably foreseeable by the Parent Board as of the date of this Agreement); provided, however, that in no event shall (i) the receipt, existence or terms of an actual or possible Parent Takeover Proposal, (ii) any Effect relating to the Company or any of its Subsidiaries that does not amount to a Material Adverse Effect, individually or in the aggregate, (iii) any change in the credit rating of Parent or the market price or trading volume of the Parent Ordinary Shares (it being understood that the underlying facts giving rise or contributing to such change may be taken into account in determining whether there has been a Parent Intervening Event, to the extent otherwise permitted by this definition), (iv) the fact that Parent or any of its Subsidiaries exceeds (or fails to meet) internal or published projections or guidance or any matter relating thereto or of consequence thereof (it being understood that the underlying facts giving rise or contributing to such change may be taken into account in determining whether there has been a Parent Intervening Event, to the extent otherwise permitted by this definition), (v) changes in GAAP, other applicable accounting rules or applicable Law or, in any such case, changes in the interpretation thereof, (vi) changes in general economic, political or financial conditions or markets (including changes in interest rates, exchange rates, stock, bond and/or debt prices), (vii) any conditions (or changes in such conditions) affecting the industries or sectors in which the Company, Parent or any of their respective Subsidiaries operate (including changes in general market prices and political or regulatory changes affecting the industry or any changes in applicable Law), (viii) any event or circumstance arising in connection with obtaining approvals and other authorizations of any Governmental Entity (including, for the avoidance of doubt, the expiration of the waiting periods applicable to the consummation of the Merger under the HSR Act and other Antitrust Laws), (ix) any event or circumstance arising in connection with the execution announcement of this Agreement or the pendency of the Merger (including by reason of the identity of Parent or the Company), including the impact thereof on the relationships, contractual or otherwise, of the Company and its Subsidiaries with employees, customers, suppliers, vendors, landlords or partners, (x) any actions taken or omitted by Parent, Company or any of their Subsidiaries that is expressly required to be taken or omitted by such parties pursuant to this Agreement in connection with the transactions contemplated by this Agreement, (xi) any opportunity to acquire (by merger, joint venture, partnership, consolidation, acquisition of stock or assets or otherwise), directly or indirectly, any assets, securities, properties or businesses from, or enter into any licensing, collaborating or similar arrangements with, any other Person, (xii) any acts of war, sabotage, or terrorism, or military actions, or the escalation thereof and (xiii) any natural disasters, epidemics or pandemics (including the existence and impact of the COVID-19 pandemic or any COVID-19 Measure), in each case, constitute, or be taken into account, in whole or in part, in determining when a material development or change in circumstance constitutes, a Parent Intervening Event.

  • Company Intervening Event means any material event, fact, change, effect, development or occurrence that (i) was not known, or the material consequences of which were not known, in each case to the Board of Directors of the Company as of or prior to the date of this Agreement and (ii) does not relate to or involve any Company Acquisition Proposal.

  • DIP Financing Liens has the meaning assigned to such term in Section 2.05(b).

  • First Priority Lien Obligations means (i) all Secured Bank Indebtedness, (ii) all other Obligations (not constituting Indebtedness) of the Issuer and its Restricted Subsidiaries under the agreements governing Secured Bank Indebtedness and (iii) all other Obligations of the Issuer or any of its Restricted Subsidiaries in respect of Hedging Obligations or Obligations in respect of cash management services in each case owing to a Person that is a holder of Indebtedness described in clause (i) or Obligations described in clause (ii) or an Affiliate or Representative of such holder at the time of entry into such Hedging Obligations;

  • First Priority Lien means any Lien created by the First Priority Security Documents.

  • Existing Liens means Liens on the property or assets of the Company and/or any of its Subsidiaries existing on the date of this Indenture securing Indebtedness of the Company or any of its Subsidiaries (other than Liens incurred pursuant to clause (1) of Section 4.07 hereof).

  • Second Priority Lien means the Liens on the Second Priority Collateral in favor of Second Priority Debt Parties under Second Priority Collateral Documents.

  • Valid lien means a lien that is effective against the holder of a judicial lien subsequently obtained by legal or equitable process or proceedings.

  • Tax lien means the lien of any tax bill as defined in this section;

  • Shared Collateral means, at any time, Collateral in which the holders of two or more Series of First-Lien Obligations hold a valid and perfected security interest at such time. If more than two Series of First-Lien Obligations are outstanding at any time and the holders of less than all Series of First-Lien Obligations hold a valid and perfected security interest in any Collateral at such time, then such Collateral shall constitute Shared Collateral for those Series of First-Lien Obligations that hold a valid security interest in such Collateral at such time and shall not constitute Shared Collateral for any Series which does not have a valid and perfected security interest in such Collateral at such time.

  • Settlement Lien means any Lien relating to any Settlement or Settlement Indebtedness (and may include, for the avoidance of doubt, the grant of a Lien in or other assignment of a Settlement Asset in consideration of a Settlement Payment, Liens securing intraday and overnight overdraft and automated clearing house exposure, and similar Liens).

  • Second Priority Liens means all Liens on the Second Lien Collateral to secure the Second Lien Obligations, whether created under the Second Lien Security Documents or acquired by possession, statute, operation of law, subrogation or otherwise.

  • Assessment lien means a lien on property within an assessment area that arises

  • Second Priority Debt means any Indebtedness of the Borrower or any other Grantor guaranteed by the Guarantors (and not guaranteed by any Subsidiary that is not a Guarantor), including the Initial Second Priority Debt, which Indebtedness and guarantees are secured by the Second Priority Collateral on a pari passu basis (but without regard to control of remedies, other than as provided by the terms of the applicable Second Priority Debt Documents) with any other Second Priority Debt Obligations and the applicable Second Priority Debt Documents which provide that such Indebtedness and guarantees are to be secured by such Second Priority Collateral on a subordinate basis to the Senior Debt Obligations (and which is not secured by Liens on any assets of the Borrower or any other Grantor other than the Second Priority Collateral or which are not included in the Senior Collateral); provided, however, that (i) such Indebtedness is permitted to be incurred, secured and guaranteed on such basis by each Senior Debt Document and Second Priority Debt Document and (ii) except in the case of the Initial Second Priority Debt hereunder, the Representative for the holders of such Indebtedness shall have become party to this Agreement pursuant to, and by satisfying the conditions set forth in, Section 8.09 hereof. Second Priority Debt shall include any Registered Equivalent Notes and Guarantees thereof by the Guarantors issued in exchange therefor.

  • Priority Lien means a first priority Lien (subject in priority only to Permitted Prior Liens) granted in favor of the Collateral Trustee pursuant to a Note Security Document, at any time, upon any property of the Company or any other Grantor to secure Priority Lien Obligations.

  • Secured Tax Claim means any Secured Claim that, absent its secured status, would be entitled to priority in right of payment under section 507(a)(8) of the Bankruptcy Code (determined irrespective of time limitations), including any related Secured Claim for penalties.

  • Ceiling Lien City Purpose: Prod Code: Curr CLTV: Prin Maturity Cr. Cr. 3352810 CA 180 14 $234,285.00 2.63 40 000000000000000 23727 Xxxxxxxx Xxxxxx 00 000 0 $318,400.00 04/03/2000 24.00 2 Xxxxxxxx Xxxxx 00000 3 12.13 100 $21,410.00 04/03/2015 $83,900 744 3352060 CA 180 09 $155,687.00 10/10/2000 1.50 34 106990000352060 11552 BIG XXXX XXX 00 000 0 $325,000.00 04/03/2000 24.00 2 GOLD RIVER 95670 3 8.5 74 $78,000.00 04/03/2015 $84,000 677 3362349 MI 180 14 $80,000.00 07/03/2000 4.00 29 126990000362349 0000 XXXXXXXXX XXXXXX 02 176 1 $100,000.00 04/03/2000 18.00 2 XXXXXXXXXXXX 00000 1 13.5 95 $14,670.73 04/03/2015 $15,000 641 3352068 CA 180 14 $342,000.00 10/10/2000 2.13 41 106990000352068 1143 XXX XXXXXXXX 01 176 1 $427,500.00 04/03/2000 18.00 2 CAMARILLO 93012 1 8.5 95 $33,481.72 04/03/2015 $64,100 744 3352809 MD 180 09 $273,000.00 1.63 28 124990000352809 3511 Xxxxxxx Xxxxxx Xxxx 00 000 0 $380,000.00 04/03/2000 24.00 2 Davidsonville 21035 3 11.13 90 $67,999.10 04/03/2015 $69,000 705 3361329 MA 300 14 $217,512.00 10/03/2000 1.50 39 125990000361329 0 Xxxxxxxx Xxx 02 296 1 $330,000.00 04/03/2000 18.00 2 Woburn 01801 2 8.5 88 $69,027.26 04/03/2025 $70,000 733 3322940 CA 180 14 $315,200.00 10/03/2000 1.00 40 106990000322940 5179 Xxxxxxx Xxxxx 00 000 0 $394,000.00 04/03/2000 18.00 2 San Diego 92124 1 8.5 95 $59,100.00 04/03/2015 $59,100 735 3390293 CO 180 14 $140,782.00 3.75 48 108990000390293 0000 Xxxx Xxxxxxxx Xxxxxx 02 176 1 $180,000.00 04/03/2000 18.00 2 Littleton 80128 1 13.25 100 $36,880.04 04/03/2015 $39,200 714 3401349 CA 180 14 $339,800.00 07/03/2000 2.13 43 106990000401349 00000 Xxxxxxx Xxxxx 01 176 1 $424,767.00 04/03/2000 18.00 2 Xxxxxx Xxxxxxxxx 00000 1 11.63 95 $62,962.31 04/03/2015 $63,700 725 3397031 CA 300 14 $258,308.00 07/07/2000 0.50 39 106990000397031 0000 Xxxxxxxx Xxx 02 296 1 $385,000.00 04/03/2000 18.00 2 Livermore 94550 2 10 80 $48,276.31 04/03/2025 $49,000 708 3398843 TN 180 14 $208,229.00 3.75 32 147990000398843 485 Tennessee 02 176 1 $282,000.00 04/03/2000 14.00 0 Xxxxxx Xxxxxxx 37330 1 13.25 100 $58,566.98 04/03/2015 $71,000 716 3398213 CA 180 14 $226,300.00 10/03/2000 2.63 50 106990000398213 0 Xxxx Xxxxx 01 176 1 $282,900.00 04/03/2000 18.00 2 Oceanside 92057 1 8.5 95 $41,378.18 04/03/2015 $42,400 729 Page 95 of 318

  • First Priority Liens means all Liens that secure the First Priority Lien Obligations.

  • Subject Lien shall have the meaning provided in Section 10.2(a).

  • Priority Lien Obligations means the Priority Lien Debt and all other Obligations in respect of Priority Lien Debt.

  • Priority Lien Security Documents means the Priority Credit Agreement (insofar as the same grants a Lien on the Collateral), each agreement listed in Part A of Exhibit B hereto, and any other security agreements, pledge agreements, collateral assignments, mortgages, deeds of trust, control agreements, or grants or transfers for security, now existing or entered into after the date hereof, executed and delivered by the Borrower or any other Grantor creating (or purporting to create) a Lien upon Collateral in favor of the Priority Lien Agent (including any such agreements, assignments, mortgages, deeds of trust and other documents or instruments associated with any Priority Substitute Credit Facility).