Subordinated Liens definition

Subordinated Liens has the meaning given to it in Section 8.6(a).

Subordinated Liens the Liens in the Collateral granted by Issuer to Fleet National Bank as trustee under the Subordinated Credit Instruments. Subordination Agreement (Junior): a subordination agreement among Trustee, Issuer, and the trustee of the Junior Subordinated Debenture Indenture. Subordination Agreement (Senior): a subordination agreement among Trustee, Issuer, the trustee of the Junior Subordinated Debenture Indenture and the Senior Creditors.

Subordinated Liens means all Liens securing the Secured Obligations.

Examples of Subordinated Liens in a sentence

• None of the Subordinated Debt or obligations secured by Subordinated Liens (or any agreements, instruments, or other evidence thereof) shall be amended in a manner that would have an adverse effect on the rights, powers, or remedies of Lender under this Agreement.

• All promissory notes, ledgers, and other evidences of the Subordinated Debt, and all mortgages, deed of trusts, security agreements, assignments, and other security documents, if any, at any time evidencing the Subordinated Liens, shall contain a specific written notice that the indebtedness and Liens evidenced thereby are subordinated as provided in this paragraph.

• All Liens (if any) securing payment of all or any part of the Subordinated Debt (the "Subordinated Liens") shall be and remain inferior and subordinate to the Liens securing payment of all or any part of the Guaranteed Obligations, regardless of whether such Subordinated Liens presently exist or are hereafter created or when such Subordinated Liens were created, perfected, filed or recorded.

• All proceeds of Collateral received by the Collateral Trustee, any Subordinated Lien Representative or any holder of Subordinated Lien Obligations not in violation of Section 2.4(c) will be received by such Person free from the Priority Liens, Liens securing ABL Debt Obligations and all other Liens except Subordinated Liens and Permitted Prior Liens, subject to the terms of the Intercreditor Agreement.

• The Intercreditor Agreement defines the relative rights of holders of the Subordinated Liens and the holders of the Senior Priority Liens that will exist upon execution of the Intercreditor Agreement.

More Definitions of Subordinated Liens

Subordinated Liens means all present and future security interests and liens, if any, directly or indirectly securing any Subordinated Debt.

Subordinated Liens means the Liens listed in Exhibit B hereto.

Subordinated Liens means any Lien created by the Subordinated Debt Documents. “Subordinated Payment Default” means (i) a default in the payment when due (whether by lapse of time, acceleration, or otherwise) of all or any portion of the Subordinated Debt consisting of principal, interest or any scheduled fee, or (ii) an Event of Default (as defined in the Second Lien Credit Agreement) resulting from the failure to pay any other amounts due and owing under the Subordinated Debt Documents.

Subordinated Liens means the Liens arising pursuant to the Subordinated Security Agreement and expressly made subordinate to the Liens of the Bank in and to the Collateral pursuant to the Subordination Agreement.

Subordinated Liens means the Lenders’ Liens.

Subordinated Liens means all Liens in favor of Subordinated Lender that secure Subordinated Debt which are permitted under and covered by the Subordination Agreement.

Subordinated Liens shall have the meaning assigned to such term in Sections 4.3 hereof.