Replacement Lien definition

Replacement Lien means, with respect to any Lien, any modifications, replacements, refinancings, renewals or extensions of such Lien, provided that (A) the property covered thereby is not increased other than the addition of proceeds, products, accessions and improvements to such property on customary terms, (B) the amount of Indebtedness, if any, secured thereby is not increased unless permitted under Section 4.09 and (C) any modification, replacement, refinancing, renewal or extension of the Indebtedness, if any, secured or benefited thereby is permitted by Section 4.09(b)(4).
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Replacement Lien means the lien granted by the Debtor to the Agent on the stock of FMARC and FMARC II to secure the Debtor's non-recourse guaranty of the Secured Claim Recovery Amount.
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Replacement Lien has the meaning specified in Section 7.01(b).
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Examples of Replacement Lien in a sentence

  • The Replacement Lien shall be subject and subordinate to the Carve Out (as defined below) and any valid and perfected liens existing on the Petition Date (“Prior Liens”).

  • As additional adequate protection for any Diminution, the Bond Trustee shall have a superpriority administrative-expense claim pursuant to Section 507(b) of the Bankruptcy Code with recourse to and payable from any and all assets of the Debtor’s estate, including, but not limited to, rights of the Debtor, choses in action, or claims of any kind whatsoever, choate or inchoate, present or residual that for any reason cannot be made the subject of the Replacement Lien (the “Superpriority Claim”).

  • Clarke and Sissy Bynumcalled to something other than sell- ing insurance the rest of my life.

  • Other than as set forth herein, the Term Loan Replacement Lien shall not be made subject to or pari passu with any lien or with any lien or security interest previously or hereinafter granted in any of the Cases or any Successor Case.

  • The Replacement Lien shall be subject and subordinate to the Carve Out (as defined below), the Prior Liens and the DIP Liens and shall not attach to the Aggregate Excluded Assets.

  • The Debtor hereby acknowledge that all rents, receipts, accounts, and proceeds arising from or related to the studies and experimental testing of the effects of radiation for third-party clients’ at the Knoxville Proton Therapy Center are included in the Prepetition Bond Collateral under the Bond Documents, and they are subject to the Replacement Lien granted under this Interim Order in the Postpetition Bond Collateral or Supplemental Collateral, as applicable.

  • Other than as set forth herein, the ABL Replacement Lien shall not be made subject to or pari passu with any lien or with any lien or security interest previously or hereinafter granted in any of the Cases or any Successor Case.

  • The ABL Replacement Lien shall be valid, binding and enforceable against any trustee or other estate representative appointed in any Case, upon the conversion of any of the Cases to a case under chapter 7 of the Bankruptcy Code (collectively, “Successor Cases”) and/or upon the dismissal of any Case or Successor Case.

  • As additional adequate protection for any Diminution, the Bond Trustee shall have (and is hereby granted) a superpriority administrative-expense claim pursuant to Section 507(b) of the Bankruptcy Code (solely to the extent the Replacement Lien fails to provide the Bond Trustee with adequate protection with respect to any Diminution), with recourse to and payable from any and all assets of the Debtor’s estate (excluding the Aggregate Excluded Assets) (the “Adequate Protection SuperpriorityClaims”).

  • For the avoidance of doubt, the Term Loan Replacement Lien shall not include any leasehold interests of the Debtors until entry of a Final Order but shall include the proceeds from any sale, termination, or other disposition of any leasehold interests of the Debtors.


More Definitions of Replacement Lien

Replacement Lien means, with respect to any Lien, any modifications, replacements, refinancings, renewals or extensions of such Lien, provided that
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Replacement Lien means a post-petition lien provided to a lender covering property acquired by the debtor after the bankruptcy filing. Lenders are often entitled to adequate protection of their interests in collateral, when a debtor proposes to use or sell the collateral. Mayrich has made a secured loan to RM Bakery in the amount of $1,300,000. As part of the financing package, the Debtors are giving Mayrich a replacement lien in the accounts receivable, inventory and accounts in the same priority as Mayrich had prepetition.
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Replacement Lien means any lien sold to the Buyer in compensation for a Removed Lien, removed from the list of Sold Liens after the Closing Date, or a Lien sold to the Buyer in compensation for a unenforceable Tax Lien previously sold to the Buyer or in compensation for a lien that the County does not wish the Buyer to foreclose. Replacement lien must be of equal value Buyer paid for Removed Lien, including all accrued interest to date of sale.
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Replacement Lien means, with respect to any Lien, any modifications, replacements, refinancings, renewals or extensions of such Lien, provided that (A) the property covered thereby is not increased other than the addition of proceeds, products, accessions and improvements to such property on customary terms, (B) the amount of Indebtedness, if any, secured thereby is not increased unless permitted under the caption “—Limitation on Indebtedness” and (C) any modification, replacement, refinancing, renewal or extension of the Indebtedness, if any, secured or benefited thereby is permitted by clause (b)(4) under the caption “—Limitation on Indebtedness.”
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Replacement Lien shall have the meaning set forth in Section 6.1(a)(vii).
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Related to Replacement Lien

  • Replacement Assets means assets and property that will be used in the business of the Company and/or its Restricted Subsidiaries as existing on the Issue Date or in a business the same, similar or reasonably related thereto or in an unrelated business to the extent that it is not material in size as compared to the business of the Company and its Restricted Subsidiaries taken as a whole (including Capital Stock of a Person which becomes a Restricted Subsidiary).

  • Replacement Mortgage Loan A Mortgage Loan or Mortgage Loans in the aggregate substituted by the Seller for a Deleted Mortgage Loan, which must, on the date of such substitution, as confirmed in a Request for Release, (i) have a Stated Principal Balance, after deduction of the principal portion of the Scheduled Payment due in the month of substitution, not in excess of, and not less than 90% of, the Stated Principal Balance of the Deleted Mortgage Loan; (ii) if the Replacement Mortgage Loan is a fixed rate Mortgage Loan, have a fixed Mortgage Rate not less than or more than 1% per annum higher than the Mortgage Rate of the Deleted Mortgage Loan; (iii) have the same or higher credit quality characteristics than that of the Deleted Mortgage Loan; (iv) have a Loan-to-Value Ratio no higher than that of the Deleted Mortgage Loan; (v) have a remaining term to maturity no greater than (and not more than one year less than) that of the Deleted Mortgage Loan; (vi) not permit conversion of the Mortgage Rate from a fixed rate to a variable rate; (vii) have the same lien priority as the Deleted Mortgage Loan; (viii) constitute the same occupancy type as the Deleted Mortgage Loan or be owner occupied; (ix) if the Replacement Mortgage Loan is an Adjustable Rate Mortgage Loan, have a Maximum Mortgage Rate not less than the Maximum Mortgage Rate on the Deleted Mortgage Loan, (x) if the Replacement Mortgage Loan is an Adjustable Rate Mortgage Loan, have a Minimum Mortgage Rate not less than the Minimum Mortgage Rate of the Deleted Mortgage Loan, (xi) if the Replacement Mortgage Loan is an Adjustable Rate Mortgage Loan, have a Gross Margin equal to or greater than the Gross Margin of the Deleted Mortgage Loan, (xii) if the Replacement Mortgage Loan is an Adjustable Rate Mortgage Loan, have a next Adjustment Date not more than two months later than the next Adjustment Date on the Deleted Mortgage Loan, (xiii) comply with each representation and warranty set forth in Section 7 of the Mortgage Loan Purchase Agreement and (xiv) the Custodian has delivered a Final Certification noting no defects or exceptions.

  • Permitted Purchase Money Indebtedness means, as of any date of determination, Purchase Money Indebtedness incurred after the Closing Date in an aggregate principal amount outstanding at any one time not in excess of $1,000,000.

  • Permitted Lien means the individual and collective reference to the following: (a) Liens for taxes, assessments and other governmental charges or levies not yet due or Liens for taxes, assessments and other governmental charges or levies being contested in good faith and by appropriate proceedings for which adequate reserves (in the good faith judgment of the management of the Company) have been established in accordance with GAAP, (b) Liens imposed by law which were incurred in the ordinary course of the Company’s business, such as carriers’, warehousemen’s and mechanics’ Liens, statutory landlords’ Liens, and other similar Liens arising in the ordinary course of the Company’s business, and which (x) do not individually or in the aggregate materially detract from the value of such property or assets or materially impair the use thereof in the operation of the business of the Company and its consolidated Subsidiaries or (y) are being contested in good faith by appropriate proceedings, which proceedings have the effect of preventing for the foreseeable future the forfeiture or sale of the property or asset subject to such Lien and (c) Liens incurred in connection with Permitted Indebtedness.

  • Permitted Junior Priority Refinancing Debt means secured Indebtedness incurred by the Borrower in the form of one or more series of second lien (or other junior lien) secured notes or debentures or second lien (or other junior lien) secured loans; provided that (i) such Indebtedness is secured by all or a portion of the Collateral on a second priority (or other junior priority) basis to the Liens securing the Obligations and any other First Lien Obligations and is not secured by any property or assets of Holdings, the Borrower or any Restricted Subsidiary other than the Collateral, (ii) such Indebtedness satisfies the applicable requirements set forth in the provisos in the definition of “Credit Agreement Refinancing Indebtedness” (provided that such Indebtedness may be secured by a Lien on the Collateral that is junior to the Liens securing the Obligations and any other First Lien Obligations, notwithstanding any provision to the contrary contained in the definition of “Credit Agreement Refinancing Indebtedness”), (iii) the holders of such Indebtedness (or their representative) and the Administrative Agent and/or the Collateral Agent shall be party to a Customary Intercreditor Agreement, and (iv) such Indebtedness is not at any time guaranteed by any Subsidiaries of the Borrower other than Subsidiaries that are Guarantors.