Subordinated Lien definition

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

Subordinated Lien means (i) any Lien for which the holder thereof has agreed, pursuant to a subordination agreement in form satisfactory to the Agent, that such Lien shall at all times be subordinated and postponed in favour of the Liens granted in favour of the Agent, or (ii) any Lien granted by an Obligor in respect of Affiliate Debt.

Subordinated Lien means any Lien created by the Subordinated Security Documents.

Examples of Subordinated Lien in a sentence

• In addition to the funds established in Section 6.1, there shall be established and maintained either by the WGFP Enterprise or under any Financing Documents the following funds and reserve funds, with segregated accounts for each Loan Allottee, to be used under the terms of this Section 8: a Revenue Fund; a Debt Service Fund; a Debt Service Reserve Fund; a Subordinated Lien Loan Fund; a Subordinated Lien Loan Reserve Fund; and a Liquidity Fund.

• The terms and provisions of any document creating or relating to a Subordinated Lien are hereby amended to provide that so long as any of the Senior Liens remain unpaid, the Subordinated Liens therein granted are subordinate to the Senior Liens and that none of the terms and provisions of such documents or instruments evidencing the Subordinated Liens shall affect or limit in any way the rights or remedies provided to the holder of the Senior Indebtedness under the Senior Liens.

• No amendment or waiver of any provision of this Agreement nor consent to any departure by any Party hereto shall be effective unless it is in a written agreement executed by the Subordinated Lien Collateral Agents and the ABL Collateral Agent, and consented to in writing by the Company, and then such waiver or consent shall be effective only in the specific instance and for the specific purpose for which given.

• In the event of any conflict between any term, covenant, or condition of this Agreement and any term, covenant or condition of any of the Senior Loan Documents, the provisions of the Lease pertaining to the Liens in favor of the Subordinated Creditor or the Subordinated Lien Documents, or any of the Subordinated Lien Documents, the provisions of this Agreement shall control and govern.

• The ABL Collateral Agent is hereby authorized to make any such endorsements as agent for each such Subordinated Lien Collateral Agent or Subordinated Lien Secured Party.

More Definitions of Subordinated Lien

Subordinated Lien means a Lien granted by a Subordinated Lien Document to the Subordinated Collateral Trustee, at any time, upon any property of the Issuer or any Guarantor to secure Subordinated Lien Obligations.

Subordinated Lien a Lien on Subordinated Debt Collateral granted by any Subordinated Debt Document to, or acquired or held by, the Subordinated Creditor, at any time, upon any Subordinated Debt Collateral that is also Senior Debt Collateral of any Obligor to secure the Subordinated Debt.

Subordinated Lien means the Lien secured by the Security Agreement (“Security Agreement”) dated as of January 31, 2003 between the Debtor and the Subordinated Creditor securing the repayment of all or any portion of the Subordinated Debt.

Subordinated Lien. A Lien approved in writing by the Lender, and which secures any Subordinated Debt.

Subordinated Lien means the Liens existing or hereafter acquired on any of the Indenture Collateral held by the Trustee on behalf of the Noteholders, which Liens are subordinate only to the Senior Debt.

Subordinated Lien means any mortgage, pledge, hypothecation, claim, encumbrance, lien (statutory or other), preference, priority or other security agreement of any kind or nature whatsoever (including, without limitation, any conditional sale or other title retention agreement and any assignment or deposit arrangement in the nature of a security device) in favor of the Senior Creditor with respect to the Senior Note, whether now existing or hereafter obtained.

Subordinated Lien means a lien on the Intercompany Lien, which lien shall be subordinate to the secured claims of the New Lender to the extent provided in the Intercreditor Agreement and the unsecured claims of the Operating Subsidiaries' trade creditors.