Senior Lien means the Liens on the Senior Collateral in favor of the Senior Secured Parties under the Senior Collateral Documents.
Senior Lien. With respect to any Second Mortgage Loan, the home equity loan relating to the corresponding Property having a first priority lien.
Senior Lien means the Liens on the Collateral in favor of the First Lien Secured Parties under the First Lien Security Documents.
Examples of Senior Lien in a sentence
That is, the loan is not subject to acceleration so long as any Senior Lien Obligations are outstanding.
This loan shall constitute a lien and charge upon the Net Revenue junior and subordinate to the lien and charge upon such Net Revenue of any Senior Lien Obligations.
In the event of a default, ECOLOGY may, in its sole discretion, declare the principal of and interest on the loan immediately due and payable, subject to the prior lien and charge of any outstanding Senior Lien Obligation upon the Net Revenue.
More Definitions of Senior Lien
Senior Lien means the Liens on the Senior Priority Collateral in favor of the Senior Priority Secured Parties under the Senior Priority Collateral Documents.
Senior Lien means the Liens on the Collateral in favor of the Senior Lien Secured Parties under the Senior Lien Security Documents.
Senior Lien. With respect to any Junior Mortgage Loan, any liens on the related Mortgaged Property of higher priority.
Senior Lien. With respect to any Second Lien Loan, the mortgage loan having a senior priority lien on the related Mortgaged Property.
Senior Lien means a prior lien which has precedence as to the property under the lien over another lien or encumbrance.
Senior Lien. With respect to any Second Mortgage Loan, the mortgage loan relating to the corresponding Property having a first priority lien; and with respect to any Third Mortgage Loan, the mortgage loans relating to the corresponding Property having first and second priority liens.
Senior Lien. With respect to any Junior Mortgage Loan, the mortgage loan relating to the corresponding Property having a priority lien.