Permitted Collateral Lien definition

Permitted Collateral Lien means the following types of Liens:

Permitted Collateral Lien shall have the meaning ascribed thereto in the applicable Mortgage.

Permitted Collateral Lien means Permitted Liens (other than Liens described in clause (7) of the definition of "Permitted Liens" that are not junior to the Liens securing the Securities).

Examples of Permitted Collateral Lien in a sentence

• Each Pledgor represents and warrants that all Claims imposed upon or assessed against the Pledged Collateral have been paid and discharged except to the extent such Claims constitute a Lien not yet due and payable which is a Contested Lien or a Permitted Collateral Lien.

• For the avoidance of doubt, subject to the first sentence of this Section 4.13(a) and Section 4.13(b), any such Additional Intercreditor Agreement may provide for pari passu or subordinated security interests in respect of any such Indebtedness (to the extent such Indebtedness is permitted to share the Collateral pursuant to the definition of Permitted Collateral Lien).

• For the avoidance of doubt, subject to the foregoing and the succeeding paragraph, any such Additional Intercreditor Agreement may provide for pari passu or subordinated Lien in respect of any such Indebtedness (to the extent such Indebtedness is permitted to share the Collateral pursuant to the definition of Permitted Collateral Lien).

• After the Closing Date, no Collateral owned by such Grantor will be in the possession or under the Control of any other Person having a claim thereto or security interest therein, other than a Permitted Collateral Lien.

• For the avoidance of doubt, subject to the foregoing and Section 4.23(c), any such Additional Intercreditor Agreement may provide for pari passu or subordinated Liens in respect of any such Indebtedness (to the extent such Indebtedness is permitted to share the Collateral (with the specified priority) pursuant to the definition of Permitted Collateral Lien).

More Definitions of Permitted Collateral Lien

Permitted Collateral Lien the Liens described in clause (1), (2), (3), (6), (13), (14), (20), (23), (28), (30), (31), (32) and (33) of the definition of Permitted Liens.

Permitted Collateral Lien means “Permitted Liens” other than Liens described under clauses (13), (15), (16), (17), (18), (19), (20), (21), (22), (23), (26), and (27) of the definition thereof.

Permitted Collateral Lien means Liens securing the Notes issued on the Issue Date (including any PIK Notes issued in respect of PIK Interest) and any Permitted Refinancing Debt incurred to refinance such Notes; provided that the assets and properties securing such Debt will also secure the Notes on a first ranking basis.

Permitted Collateral Lien the Liens described in clause (1), (2), (3), (6), (13), (14), (20), (23), (28), (30), (31), (32) and (33) of the definition of Permitted Liens. Permitted Discretion: a determination made in good faith and in the exercise of reasonable (from the perspective of a secured asset-based lender) business judgment, following either (x) consultation with the Loan Party Agent or (y) two (2) Business Days’ advance notice to the Borrowers.

Permitted Collateral Lien means, with respect to any asset that constitutes Collateral or is required to constitute Collateral pursuant to any Loan Document, (a) any non-consensual Permitted Lien on such asset that is senior to the Agent’s Lien on such asset by operation of law, and (b) other than with respect to any material Intellectual Property, any Permitted Lien on such asset pursuant to clause (f) or (r) of the definition of “Permitted Liens”, in any such case, only to the extent the existence of such Lien and/or the priority of such Lien over the Agent’s Lien on such asset does not violate or contravene any other provision of the Agreement.

Permitted Collateral Lien means:(2) Liens on the Collateral to secure (A) Direct Indebtedness of the Issuer or a Restricted Subsidiary described in Section 4.03(a) and clauses (b)(1), (2), (4)(including the New Secured Notes) and (7) of Section 4.03 to the extent such Direct Indebtedness is permitted to be Incurred thereby and(B) Indebtedness of the Issuer or a Restricted Subsidiary described in clause (b)(14) of Section 4.03to the extent such Indebtedness is permitted to be Incurred thereby; provided, however, that, in each case at the time of, or prior to, the Incurrence by the Issuer or a Guarantor of Indebtedness secured by a Permitted Collateral Lien, the Issuer or relevant Guarantor shall enter into with the holders of such Indebtedness an agreement containing substantially the same terms or terms not materially less favorable to the Holders as set forth in the Intercreditor Deed; and***

Permitted Collateral Lien means, (x) with respect to Collateral other than Mortgaged Property, Liens permitted by clauses (1), (2) (which Liens shall be subject to the Intercreditor Agreement), (3), (4), (5) (as to clauses (1), (15) and (24) only of the definition of “Permitted Liens”), (6), (7), (8), (9), (10), (11), (12), (13), (14), (15), (16), (18), (20), (21), (22), (24), (25), (26), (27), (28), (29) and (30) of the definition of “Permitted Liens” and (y) with respect to Collateral that constitutes Mortgaged Property, Liens permitted by clauses (2) (which Liens shall be subject to the Intercreditor Agreement), (3), (5) (as to clauses (1), (15) and (24) only of the definition of “Permitted Liens”), (6), (7), (9), (10), (11), (15), (16), (18), (20), (24), (26), (27), (28), (29), (30) and (31) of the definition of “Permitted Liens.”