Permitted Prior Liens definition

Permitted Prior Liens means Liens that arise by operation of law and are not voluntarily granted, to the extent entitled by law to priority over the Liens created by the Priority Lien Documents.

Permitted Prior Liens means Liens that arise by operation of law and are not voluntarily granted, to the extent entitled by law to priority over the Liens created by the Stock Lien Security Documents.

Permitted Prior Liens means Permitted Liens described in clauses (c), (f), (g), (h), (j), (k) (to the extent permitted under the Control Agreements relating to the deposit accounts subject to the Permitted Liens described in clause (k)) and (m) of the defined term “Permitted Liens” and as set forth in the Schedule.

Examples of Permitted Prior Liens in a sentence

• Any reference herein to the Lien of the Collateral Agent being “first priority” or words of similar effect shall mean that such Lien is a first priority Lien, subject only to the prior Lien securing the Revolving Obligations to the extent set forth in the Intercreditor Agreement and any other Permitted Prior Liens.

• The provisions of the Collateral Documents are effective to create in favor of the Administrative Agent for the benefit of the Secured Parties a legal, valid and enforceable first priority Lien (subject to Permitted Prior Liens) on all right, title and interest of the respective Loan Parties in the Collateral described therein.

• For the avoidance of doubt, the Adequate Protection Liens shall be senior in priority to the liens securing the Pre-Petition Obligations and shall be subject to the DIP Liens, the Carve-Out, and the Permitted Prior Liens, in all respects.

• As provided in and limited by the Security Documents, such security interests are junior in priority to Permitted Prior Liens.

• Upon the proper filing with the appropriate Governmental Bodies of appropriate Uniform Commercial Code financing statements, the applicable Loan Instruments will create valid and perfected first Liens in the Property described therein, subject in priority only to Permitted Prior Liens.

More Definitions of Permitted Prior Liens

Permitted Prior Liens means Priority Liens and Liens described in clauses (3), (4), (5), (6), (10), (11), (14) or, to the extent the initial Lien thereunder constituted a Lien incurred pursuant to any of the foregoing clauses, (17), in each case in the definition of “Permitted Liens.”

Permitted Prior Liens means (a) in the case of the First Lien Obligations, Liens permitted by the First Lien Documents to be incurred on a senior basis to the First Lien Obligations (other than the First-Out Obligations) and (b) in the case of the First-Out Obligations, any Prior Permitted Lien (as defined in the Collateral Bond).

Permitted Prior Liens means Liens permitted pursuant to Section 6.02 (other than Section 6.02(a) and Section 6.02(t)).

Permitted Prior Liens. Liens for taxes, assessments or other governmental charges not yet delinquent or the nonpayment of which in the aggregate would not reasonably be expected to have a material adverse effect on the Parent Borrower and its Restricted Subsidiaries or that are being contested in good faith and by appropriate proceedings if adequate reserves with respect thereto are maintained on the books of the Parent Borrower or a Subsidiary thereof, as the case may be, in accordance with GAAP;

Permitted Prior Liens has the meaning ascribed to such word in Section 5.19(a)(iii) hereto.

Permitted Prior Liens shall have the meaning assigned to such term in the Credit Agreement.

Permitted Prior Liens has the meaning assigned to it in the Indenture.