Primed Liens definition

Primed Liens shall have the meaning set forth in Section 2.23.

Primed Liens has the meaning ascribed to such word in Section 5.19 hereto.

Primed Liens means (a) the Prepetition Liens and any Liens, setoff rights or recoupment rights junior to such Prepetition Liens on the Borrower’s Collateral and Prepetition Collateral (including any liens of Xxxxx, Inc. that are junior to the Prepetition Liens), (b) all other postpetition liens on the Guarantor’s Collateral and the Borrower’s Collateral, and (c) all Adequate Protection Liens.

Examples of Primed Liens in a sentence

• The Primed Liens shall be primed by and made subject and subordinate to the Carve Out and the Priming Liens, but the Priming Liens shall not prime Liens, if any, to which the Prepetition Liens are subject to on the Petition Date (other than Liens which are themselves Prepetition Liens).

• The Priming Liens (i) shall be subject and junior to the Carve Out in all respects, (ii) shall be senior in all respects to the interests in such property that secures the obligations in respect of the Primed Liens (such holders, as applicable, the “Primed Parties”) and (iii) shall be senior to any Liens granted after the Petition Date to provide adequate protection in respect of any of the Primed Liens.

• The Priming Liens (x) shall be senior in all respects to the interests in such property of the Prepetition Secured Lenders under the Prepetition Credit Facilities (the “Primed Parties”) and (y) shall also be senior to any liens granted to provide Adequate Protection in respect of any of the Primed Liens.

• Subject to the Carve Out, pursuant to section 364(c)(3) of the Bankruptcy Code, a valid, binding, continuing, enforceable, fully-perfected security interest in and lien upon all tangible and intangible prepetition and postpetition property of each DIP Loan Party subject to valid, binding, and unavoidable liens (other than Primed Liens) on the Petition Date that were permitted senior liens under both of the Prepetition Financing Documents (the “Prior Senior Liens”).

• There shall not be any cause of action pending that challenges the validity, amount, perfection, priority or enforceability of the Pre-Petition Revolving Credit Obligations and the Primed Liens, or any other cause of action against MBL with respect to the Pre-Petition Credit Agreement.

More Definitions of Primed Liens

Primed Liens shall have the meaning provided in Section 3.1(b).

Primed Liens means the liens that are being primed as described in Section 2.19(a)(iii).

Primed Liens collectively, (a) Liens arising under the Second Lien Prepetition Facility and the Existing UST Loan Agreement, securing the secured obligations thereunder, and

Primed Liens shall have the meaning specified in Section 2.12(a).

Primed Liens means the existing liens (x) on any Collateral that secures the obligations of the applicable Debtor under or governed by (i) the Prepetition First Lien Credit Agreement, (ii) the Second Lien Notes or (iii) the Receivables Facility.

Primed Liens has the meaning assigned in the recitals hereto.

Primed Liens shall have the meaning set forth in Section 2.23(a). ------------ ---------------