Permitted Prior Lien definition

Permitted Prior Lien means any Lien that has priority over the Lien of the Lenders,which Lien was permitted under each Secured Note and any Additional Secured Note.

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Permitted Prior Lien means any Lien that has priority over the Lien of the Collateral Trustee for the benefit of the First Lien Secured Parties which Lien was permitted to be prior to such Lien of the Collateral Trustee under each First Lien Document.

Permitted Prior Lien means any Lien that has priority over the Lien of the Collateral Agent for the benefit of the First Lien Secured Parties which Lien was permitted under each First Lien Document.

Examples of Permitted Prior Lien in a sentence

Upon request by the Administrative Agent or the ABL Collateral Agent, at any time, the Lenders will confirm in writing such Agent’s authority to release particular types or items of Collateral pursuant to this subsection 10.9; or (C) to subordinate any Lien on any Excluded Assets (as defined in the Guarantee and Collateral Agreement) or any other property granted to or held by such Agent, as the case may be under any Loan Document to the holder of any Permitted Prior Lien.
Until so delivered, such proceeds will be held by that Parity Lien Representative or that holder of a Parity Lien Obligation, as the case may be, for the benefit of the holders of the Priority Lien Obligations and other Obligations secured by a Permitted Prior Lien.
Until so delivered, such proceeds will be held by such Parity Debt Representative or such holder of a Parity Lien Obligation, as the case may be, for the benefit of the holders of the Priority Lien Obligations or obligations secured by a Permitted Prior Lien.
No effective financing statement or other instrument similar in effect covering all or any part of the Collateral is on file in any recording or filing office except (A) such as may have been filed in favor of the Collateral Agent relating to this Agreement and (B) such as may have been filed to perfect or protect any Permitted Prior Lien.
For the avoidance of doubt, notwithstanding anything else herein to the contrary, no Lien on any property or assets of any Obligor (including any Permitted Lien or Permitted Prior Lien (except any Permitted Prior Senior Lien (as defined in the DIP Orders), if and solely to the extent provided pursuant to the DIP Order)) shall rank pari passu with, or senior to, any Lien thereon granted in favor of the Administrative Agent or otherwise securing any of the Obligations.

More Definitions of Permitted Prior Lien

Permitted Prior Lien means any Lien that has priority over the Lien of the Collateral Agent for the benefit of the Pari Passu Lien Secured Parties which Lien was permitted under each Pari Passu Lien Debt Document.

Permitted Prior Lien. Permitted Liens identified under any of (i) clauses (a), (b), (c), (d) and (f) of the definition of “Excepted Liens” and (ii) any of clauses (c), (d) and (e) of Section 10.2.2.

Permitted Prior Lien means a Permitted Lien of the type described in clauses (2), (3), (4), (5) or (13) of the definition thereof, or of the type described in clause (17) with respect to Liens of the type described in clause (2), (4), (5) or (13) of the definition thereof.

Permitted Prior Lien means any Lien that has priority over the Lien of the Priority Collateral Trustee for the benefit of the Priority Lien Secured Parties which Lien was permitted under each Priority Lien Document.

Permitted Prior Lien as defined in Section 10.2.2(j).

Permitted Prior Lien means Liens securing First Lien Indebtedness and ▇▇▇▇▇ described in any of clauses (3) and (4), (7) through (11), (13) through (18), (20) through (26), (29) and (30), in each case in the definition of “Permitted Liens.”

Permitted Prior Lien shall have the meaning assigned to such term in Section 3.19(b).