Prior Lien Obligation definition

Prior Lien Obligation means any indebtedness and the evidence thereof, if any, secured by a Prior Lien.
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Prior Lien Obligation means any indebtedness and the evidence thereof, if any, secured by a Prior Lien. “Prior Lien” means any mortgage, lien, charge, or encumbrance on or pledge of or security interest in
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Prior Lien Obligation means any indebtedness and the evidence of such indebtedness, if any, secured by a Prior Lien.
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Examples of Prior Lien Obligation in a sentence

  • An employee assigned to more than one building will be notified of which administrator will be their evaluator no later than October 1.

  • The pledge of the District to pay debt service on the Parity Bonds constitutes a lien and charge upon the Net Revenue prior and superior to any other charge, except that the lien and charge of the Parity Bonds is junior to the lien and charge of the Prior Lien Obligation.


More Definitions of Prior Lien Obligation

Prior Lien Obligation means the Repayment Contract.
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Related to Prior Lien Obligation

  • Junior Lien Obligations means Junior Lien Debt and all other Obligations in respect thereof.

  • Parity Lien Obligations means Parity Lien Debt and all other Obligations in respect thereof.

  • First Lien Obligations means, collectively, (i) the Credit Agreement Obligations and (ii) each Series of Other First Lien Obligations.

  • Junior Lien Debt means Indebtedness incurred by a Covenant Entity that is secured by a Lien that is junior to the Lien on the Collateral securing the Obligations.

  • Senior Obligations is defined in Section 5.1 of this Agreement.

  • Collateral Debt Obligation means any debt obligation or debt security purchased by or on behalf of the Issuer from time to time (or, if the context so requires, to be purchased by or on behalf of the Issuer) each of which satisfies the Eligibility Criteria, in the case of Synthetic Securities and Non-Euro Obligations, to the extent required to do so. References to Collateral Debt Obligations shall not include Collateral Enhancement Obligations, Eligible Investments or Exchanged Equity Securities. Obligations which are to constitute Collateral Debt Obligations in respect of which the Issuer has entered into a binding commitment to purchase but which have not yet settled shall be included as Collateral Debt Obligations in the calculation of the Portfolio Profile Tests at any time as if such purchase had been completed. For the avoidance of doubt, the failure of any obligation to satisfy the Eligibility Criteria at any time after the Issuer or the Investment Manager on behalf of the Issuer has entered into a binding agreement to purchase it, shall not cause such obligation to cease to constitute a Collateral Debt Obligation.

  • Subordinated Obligation means any Indebtedness of the Company (whether outstanding on the Issue Date or thereafter incurred) that is subordinated or junior in right of payment to the Notes pursuant to a written agreement.