Senior Lender Liens definition

Senior Lender Liens means the Liens securing the Senior Lender Claims.
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Senior Lender Liens. Senior liens in favor of the Collateral Agent under (and as defined in) the Senior Credit Agreement from time to time granted pursuant to the Senior Debt Documents and senior to the Liens granted under the Collateral Documents pursuant to the terms of the Subordination Agreement.
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Senior Lender Liens means the Liens granted to the LIFO Credit Agreement Agent, for the benefit of the LIFO Credit Agreement Banks, in the Senior Lender Collateral pursuant to the Senior Lender Collateral Documents.
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Examples of Senior Lender Liens in a sentence

  • Neither the Trustee, the Collateral Agent nor any Noteholder will assert or enforce, at any time prior to the Discharge of Senior Lender Claims, any claim under Section 506(c) of the Bankruptcy Code senior to or on a parity with the Senior Lender Liens for costs or expenses of preserving or disposing of any Common Collateral.

  • Nothing contained in this Agreement shall prevent any Noteholder from providing DIP Financing in any Insolvency or Liquidation Proceeding, provided, however, that in the event that any such DIP Financing is secured by a priming Lien under Section 364 of the Bankruptcy Code, such priming Lien will (if it primes Senior Lender Liens) also prime the Noteholder Priority Lien and Noteholder Common Lien.

  • Neither the Trustee, the Collateral Agent nor any Noteholder will assert or enforce, at any time prior to the Discharge of Senior Lender Claims, any claim under Section 506(c) of the Bankruptcy Code senior to or on a parity with the Senior Lender Liens for costs or expenses of preserving or disposing of any Collateral.

  • Nothing contained in this Agreement shall prevent any Noteholder from providing DIP Financing in any Insolvency or Liquidation Proceeding, provided, however, that in the event that any such DIP Financing is secured by a priming Lien under Section 364 of the Bankruptcy Code, such priming Lien will (if it primes Senior Lender Liens) also prime the Noteholder Priority Lien and Noteholder Lien.

  • In each case, the decline in net asset value is after giving effect for distributions, contributions and redemptions.

  • All Senior Lender Liens shall be and remain senior to all Noteholder Liens for all purposes, whether or not such Senior Lender Liens are subordinated to any Lien securing any other obligation of any Obligor.

  • For avoidance of doubt, it is understood and agreed that the Credit Parties and Biovest, which are obligors under or otherwise guarantee the Senior Obligations, have granted Senior Lender Liens in the Excluded Collateral securing the Senior Obligations, and that as of the date of this Agreement, no such Liens in the Excluded Collateral have been provided by the Credit Parties or Biovest to secure any New Obligations.

  • Additionally, the appropriate Person shall execute and deliver to Trustee a Pledge Agreement pursuant to which the Trustee is granted a valid, second priority (or first priority if the Senior Lender Liens have terminated) Lien, subject only to Permitted Liens, with respect to all of the issued and outstanding Securities of each such Restricted Subsidiary.

  • The Issuer shall, and shall cause each Guarantor to, maintain the security interest created by this Agreement or any Guarantor Security Agreement as the case may be, as a second priority security interest (or a first priority security interest after the Senior Lender Liens have been terminated) subject only to Permitted Liens, and shall defend such security interest against the claims and demands of all Persons whomsoever.

  • The Seller shall have obtained the ------------------------- consent of the Senior Lenders to the sale of the Business to the Purchaser pursuant to this Agreement and the release of the Senior Lender Liens.


More Definitions of Senior Lender Liens

Senior Lender Liens means Liens on the Common Collateral created under the Senior Lender Collateral Documents to secure the Senior Lender Claims.
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Senior Lender Liens means the liens granted in favor of the -------------------- lenders pursuant to that certain Credit Agreement, dated as of March 28, 2001, by and among the Seller, such lenders and the other parties listed therein.
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Senior Lender Liens as defined in Section 1.5 of the Agreement. Senior Loan Agreement - the Loan and Security Agreement dated as of December 18, 2001 among Kinetek, certain Subsidiaries of Kinetek, the financial institutions party thereto as lenders and the Senior Agent and any other loan or credit agreement that evidences indebtedness that would constitute "Senior Debt" under and as defined in the Intercreditor Agreement. Solvent - as to any Person, that such Person (i) owns Property whose fair saleable value is greater than the amount required to pay all of such Person's Indebtedness (including contingent debts), (ii) is able to pay all of its Indebtedness as such Indebtedness matures and (iii) has capital sufficient to carry on its business and transactions and all business and transactions in which it is about to engage. Senior Security Documents - the Security Documents as defined in the Senior Loan Agreement. Subsidiary - any Person of which another Person owns, directly or indirectly through one or more intermediaries, more than 50% of the Voting Stock at the time of determination. Terminable Intangible - as defined in Section 1.1 of the Agreement. Trustee - U.S. Bank National Association, as Trustee under the Indentures, and any successor Trustee thereto in accordance with the Indentures. Type of Organization - with respect to any Person, the kind or type of entity by which such Person is organized, such as a corporation or limited liability company. UCC - the Uniform Commercial Code as in effect in the State of New York on the date of this Agreement, as it may be amended or otherwise modified. Voting Stock - Securities of any class or classes of a corporation, limited partnership or limited liability company or any other entity the holders of which are ordinarily, in the absence of contingencies, entitled to vote with respect to the election of corporate directors (or Persons performing similar functions).
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Related to Senior Lender Liens

  • Senior Liens means (a) with respect to the ABL Priority Collateral, all Liens securing the ABL Obligations and (b) with respect to the Term Loan Priority Collateral, all Liens securing the Term Loan Obligations.

  • Senior Lenders means each of the lenders from time to time under the Senior Credit Agreement.

  • Senior Lender means each holder of a Senior Note.

  • DIP Financing Liens has the meaning assigned to such term in Section 2.05(b).

  • Prepetition Collateral shall have the meaning provided in Section 3.1(b).

  • Priority Indebtedness means the sum, without duplication, of all Indebtedness of the Guarantor or any of its Subsidiaries secured by Liens other than Permitted Liens.

  • Second Priority Debt Documents means the Initial Second Priority Debt Documents and, with respect to any series, issue or class of Second Priority Debt, the promissory notes, indentures, Collateral Documents or other operative agreements evidencing or governing such Indebtedness, including the Second Priority Collateral Documents.

  • Junior Liens means Liens on the Collateral that are junior to the Liens thereon securing the Term B Loans (and other Loan Obligations that are pari passu with the Term B Loans) pursuant to a Permitted Junior Intercreditor Agreement (it being understood that Junior Liens are not required to be pari passu with other Junior Liens, and that Indebtedness secured by Junior Liens may have Liens that are senior in priority to, or pari passu with, or junior in priority to, other Liens constituting Junior Liens).

  • Senior Lien means the Liens on the Senior Collateral in favor of the Senior Secured Parties under the Senior Collateral Documents.

  • Permitted Priority Liens means (i) Liens permitted under Section 9.02(c), (d), (e), (f), (g), and (j), and (ii) Liens permitted under Section 9.02(b) provided that such Liens are also of the type described in Section 9.02(c), (d), (e), (f), (g), and (j).

  • Second Priority Debt Obligations means the Initial Second Priority Debt Obligations and, with respect to any series, issue or class of Second Priority Debt, (a) all principal of, and interest (including, without limitation, any interest which accrues after the commencement of any Bankruptcy Case, whether or not allowed or allowable as a claim in any such proceeding) payable with respect to, such Second Priority Debt, (b) all other amounts payable to the related Second Priority Debt Parties under the related Second Priority Debt Documents and (c) any renewals or extensions of the foregoing.

  • Permitted First Priority Refinancing Debt means any secured Indebtedness incurred by the Borrower in the form of one or more series of senior secured notes or senior secured loans; provided that (i) such Indebtedness is secured by the Collateral on a pari passu basis with the Obligations and is not secured by any property or assets of Holdings and its Subsidiaries other than the Collateral, (ii) such Indebtedness constitutes Credit Agreement Refinancing Indebtedness in respect of Term Loans, (iii) such Indebtedness does not mature prior to the Maturity Date of the Refinanced Debt and such Indebtedness shall have a Weighted Average Life to Maturity that is not shorter than the Refinanced Debt, (iv) to the extent applicable, the security agreements relating to such Indebtedness are substantially the same as the Security Documents (with such differences as are reasonably satisfactory to the Administrative Agent), (v) no Restricted Subsidiary guarantees such Indebtedness unless it is a Subsidiary Guarantor (or becomes a Subsidiary Guarantor substantially concurrently with the incurrence of such Indebtedness); provided that, if, at any time, such Restricted Subsidiary ceases to be a Guarantor, it shall not guarantee such Indebtedness, (vi) the other terms and conditions of such Indebtedness (excluding pricing, fees, rate floors, premiums, optional prepayment or optional redemption provisions) reflect market terms and conditions at the time of incurrence and issuance; provided, that, to the extent such terms and documentation are not substantially identical to the Indebtedness being refinanced, (x) such terms (taken as a whole) shall be less favorable to the providers of such Permitted First Priority Refinancing Debt than those applicable to the Indebtedness being refinanced, except, in each case, for financial or other covenants or other provisions contained in such Indebtedness that are applicable only after the then Latest Maturity Date, or (y) such documentation shall be reasonably acceptable to the Administrative Agent and (vii) a Senior Representative acting on behalf of the holders of such Indebtedness shall have become party to a Pari Passu Intercreditor Agreement and the Administrative Agent shall have become a party to the Pari Passu Intercreditor Agreement (or any then-existing Pari Passu Intercreditor Agreement shall have been amended or replaced in a manner reasonably acceptable to the Administrative Agent, which results in such Senior Representative having rights to share in the Collateral as provided in clause (i) above). Permitted First Priority Refinancing Debt will include any Registered Equivalent Notes issued in exchange therefor.

  • Second Priority Liens means all Liens on the Second Priority Collateral securing the Second Priority Claims, whether created under the Second Priority Security Documents or acquired by possession, statute (including any judgment lien), operation of law, subrogation or otherwise.

  • Second Priority Documents means each Second Priority Agreement, each Second Priority Security Document and each Second Priority Guarantee.

  • Priority Lien means a Lien granted by a Security Document to the Collateral Trustee, at any time, upon any property of the Company or any Guarantor to secure Priority Lien Obligations.

  • Priority Lien Secured Parties means the holders of Priority Lien Obligations and any Priority Debt Representatives.

  • Senior Creditors means, (a) depositors of the Issuer, (b) creditors of the Issuer who are unsubordinated creditors of the Issuer, and (c) creditors of the Issuer whose claims are or are expressed to be subordinated to the claims of other creditors of the Issuer (other than those whose claims are in respect of obligations which constitute, or would but for any applicable limitation on the amount of such capital, constitute, Tier 1 capital or Tier 2 capital or whose claims rank or are expressed to rank pari passu with, or junior to, the claims of holders in respect of the Notes) (whether only in a Winding Up of the Issuer or otherwise);

  • First Priority Documents means the First Priority Agreement, each First Priority Security Document and each First Priority Guarantee.

  • Senior Priority Obligations means the Original First Lien Obligations and any Additional Obligations constituting Senior Priority Debt.

  • Senior Creditor means a holder or holders of Senior Indebtedness and includes any representative or representatives, agent or agents or trustee or trustees of any such holder or holders;

  • First Priority Lien Obligations means (i) all Secured Bank Indebtedness, (ii) all other Obligations (not constituting Indebtedness) of the Issuer and its Restricted Subsidiaries under the agreements governing Secured Bank Indebtedness and (iii) all other Obligations of the Issuer or any of its Restricted Subsidiaries in respect of Hedging Obligations or Obligations in respect of cash management services, in each case owing to a Person that is a holder of Indebtedness described in clause (i) or Obligations described in clause (ii) or an Affiliate of such holder at the time of entry into such Hedging Obligations or Obligations in respect of cash management services.

  • Equal Priority Intercreditor Agreement means the Equal Priority Intercreditor Agreement substantially in the form of Exhibit G-1 among (x) the Collateral Agent and (y) one or more representatives of the holders of one or more classes of Permitted Additional Debt and/or Permitted Equal Priority Refinancing Debt, with any immaterial changes and material changes thereto in light of the prevailing market conditions, which material changes shall be posted to the Lenders not less than five Business Days before execution thereof and, if the Required Lenders shall not have objected to such changes within five Business Days after posting, then the Required Lenders shall be deemed to have agreed that the Administrative Agent’s and/or Collateral Agent’s entry into such intercreditor agreement (with such changes) is reasonable and to have consented to such intercreditor agreement (with such changes) and to the Administrative Agent’s and/or Collateral Agent’s execution thereof.

  • First Priority Liens means all Liens that secure the First Priority Lien Obligations.

  • Senior Loan Documents means the loan agreement between Borrower and Senior Creditor and any other agreement, security agreement, document, promissory note, UCC financing statement, or instrument executed by Borrower in favor of Senior Creditor pursuant to or in connection with the Senior Debt or the loan agreement, as the same may from time to time be amended, modified, supplemented, extended, renewed, restated or replaced.

  • Prior Liens means Liens which, pursuant to the provisions of any Security Document, are or may be superior to the Lien of such Security Document.

  • Senior Lien Obligations means all revenue bonds and other obligations of the RECIPIENT outstanding on the date of execution of this loan agreement (or subsequently issued on a parity therewith, including refunding obligations) or issued after the date of execution of this loan agreement having a claim or lien on the Gross Revenue of the Utility prior and superior to the claim or lien of the loan, subject only to Maintenance and Operation Expense.