Lien Assets definition
Examples of Lien Assets in a sentence
When fully executed, this Agreement will create a valid and enforceable first-priority security interest in the Collateral, excepting the Approved Existing Lien Assets, which are subject only to the Approved Existing Liens, and except to the extent previously disclosed in writing to Bank.
The Obligated Parties have not pledged or assigned any of its right, title, or interest in or to all or any portion of the Collateral to any other person or entity, except for the Approved Existing Liens on the Approved Existing Lien Assets.
Additionally, at such time a Permitted Lien is removed, the Material Assets listed on Exhibit A-2 already subject to such Permitted Lien ("Second Lien Assets") shall be pledged to LLCP pursuant to a Pledge Agreement and shall then constitute Pledged Collateral with no further action on the part of any party.
Each Guarantor shall use its best efforts to obtain an agreement from each Permitted Lien holder to allow LLCP the rights of notice and review, and to application of the proceeds, as provided by this section upon the sale of or refinancing of Indebtedness secured by Second Lien Assets.
The Indenture Trustee makes no representations as to the validity or sufficiency of this Indenture or any other Transaction Document, the Notes (other than the authentication thereof) or of any Texas Tax Lien Assets.
The Indenture Trustee shall not be accountable for the use or application by the Issuer of funds paid to the Issuer in consideration of conveyance of the Texas Tax Lien Assets to the Trust Estate.
Exhibit A is a true, accurate and complete list of Pledged Collateral, Second Lien Assets, Structured Settlement Assets and Other Material Assets.
The Indemnity Lien shall be junior to the lien provided for pursuant to the Loan Documents and any other indebtedness which is senior or pari passu to the indebtedness arising under the Loan Documents and shall be senior to all other existing or future liens on the Lien Assets.
The Issuer (or its agent) shall with respect to the Lockbox Account prevent the deposit into such account of any funds other than collections in respect of the Texas Tax Lien Assets; provided that, the covenant in this paragraph shall not be breached to the extent that funds not constituting collections in respect of the Texas Tax Lien Assets are inadvertently deposited into such Lockbox Account and are promptly segregated and remitted to the owner thereof.
On the Closing Date, the Company shall deliver to the Buyer financing statements accurately describing the Lien Assets for filing in every state, county and other jurisdiction necessary to establish a valid and perfected lien in favor of the Buyer in all of the Lien Assets.