Priming Liens definition

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

Priming Liens means Postpetition Liens granted by the Borrower to the Postpetition Lender to secure the Postpetition Obligations, which Postpetition Liens (i) shall constitute first priority liens in and to all otherwise unencumbered Collateral and Prepetition Collateral pursuant to section 364(c)(2) of the Bankruptcy Code; (ii) shall be senior to and prime the Prepetition Liens and any other Primed Liens pursuant to section 364(d)(1) of the Bankruptcy Code; and (iii) shall be immediately junior in priority to any and all Non-Primed Liens, pursuant to section 364(c)(3) of the Bankruptcy Code.

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

Examples of Priming 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).

• All undertakings of the Borrower contained in the Postpetition Financing Documents shall survive any termination (subject to Section 7.11), and the Postpetition Lender shall retain its Priming Liens in the Collateral and all of its rights and remedies under the Postpetition Financing Documents until payment in full of the Postpetition Obligations (other than contingent indemnification obligations for which no claim has been made).

• 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 shall prime in all respects the Liens and security interests of the Prepetition Secured Parties, with respect to the Prepetition Secured Debt (including, without limitation, the Prepetition Liens and the Adequate Protection Liens granted to the Prepetition Secured Parties) (the “Primed Liens”).

• On the Petition Date, FairPoint filed its Motion for Interim and Final Orders to (i) Obtain Postpetition Financing Pursuant to Bankruptcy Code Section 364; (ii) Grant Priming Liens and Superpriority Claims Pursuant to Bankruptcy Code Sections 364(c) and (d); (iii) Provide Adequate Protection to Prepetition Credit Agreement Lenders Pursuant to Bankruptcy Code Sections 361, 362, 363, 364 and (iv) Schedule a Final Hearing Pursuant to Bankruptcy Rule 4001 (the “DIP Financing Motion”).

More Definitions of Priming Liens

Priming Liens means materialmen’s, mechanics’, carriers’, workmen’s, landlords’ and repairmen’s liens, and other similar liens arising in the ordinary course of business (whether imposed by law or under customary contracts entered into in the ordinary course of business), including Liens in favor of a processor encumbering Inventory that is being processed and in possession of such processor.

Priming Liens means materialmen’s, mechanics’, carriers’, workmen’s, landlords’, suppliers’ and repairmen’s liens, and other similar liens arising in the ordinary course of business (whether imposed by law or under customary contracts entered into in the ordinary course of business), including Liens in favor of a processor encumbering Inventory that is being processed and in possession of such processor.

Priming Liens has the meaning assigned to such term in Section 2.17(d).

Priming Liens has the meaning set forth in Section 2.09 (b)

Priming Liens means "Permitted Liens" as defined in the DIP Agreement.

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

Priming Liens shall have the meaning assigned to such term in Section 3.26(d).