Examples of Senior Lien in a sentence

Mortgage Lien Info Numeric – Integer 2 99 If Lien Position > 1 See Coding 1 = Fixed Rate 2 = ARM 3 = Hybrid 4 = Neg Am 99 = Unknown 21 Hybrid Period of Most Senior Lien (in months) For non-first mortgages where the associated first mortgage is a hybrid ARM, the number of months remaining in the initial fixed interest rate period for the hybrid first mortgage.
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.
That is, the loan is not subject to acceleration so long as any Senior Lien Obligations are outstanding.
The Servicer shall advance the necessary funds to cure the default or reinstate the Senior Lien, if such advance is in the best interests of the Owners; provided, however, that no such additional advance need be made if such advance would be nonrecoverable from Liquidation Proceeds on the related Home Equity Loan.

More Definitions of Senior Lien

Senior Lien. With respect to any Junior Mortgage Loan, any liens on the related Mortgaged Property of higher priority.

Senior Lien means a prior lien which has precedence as to the property under the lien over another lien or encumbrance.

Senior Lien means the first security interest placed upon a property to secure payment of a debt or performance of an obligation before one or more junior liens;