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Third Lien definition

Third Lien means a Lien granted, or purported to be granted, by a Security Document to the Collateral Agent, at any time, upon any property of the Borrower or any other Grantor to secure Third Lien Obligations.
Third Lien means a Lien granted by a Third Lien Document to the Third Lien Collateral Trustee, at any time, upon any Collateral by any Grantor to secure Third Lien Obligations (including Liens on such Collateral under the security documents associated with any Third Lien Substitute Facility).
Third Lien means a third-priority perfected security interest in such Collateral, subject to the Intercreditor Agreement or the Arazi/Lancaster Collateral Agreement, as applicable.

Examples of Third Lien in a sentence

  • In exercising rights and remedies with respect to the Collateral, the Priority Lien Agent and the other Priority Lien Secured Parties may enforce the provisions of the Priority Lien Documents and exercise remedies thereunder, all in such order and in such manner as they may determine in their sole discretion and regardless of whether such exercise and enforcement is adverse to the interest of any Second Lien Secured Party or Third Lien Secured Party.

  • The provisions of this Agreement are and are intended solely for the purpose of defining the distinct and separate relative rights of the Priority Lien Secured Parties, the Second Lien Secured Parties and the Third Lien Secured Parties.

  • Notwithstanding anything to the contrary herein or in any Secured Debt Document, the Grantors shall not be required to act or refrain from acting pursuant to this Agreement, any Priority Lien Document, any Second Lien Document or any Third Lien Document with respect to any Collateral in any manner that would cause a default under any Priority Lien Document.

  • The Priority Lien Agent is hereby authorized to make any such endorsements as agent for the Second Lien Collateral Trustee, any other Second Lien Secured Party, the Third Lien Collateral Trustee or any other Third Lien Secured Party, as applicable.

  • It is agreed that the obligations of the Priority Lien Agent and the rights of the Second Lien Collateral Trustee, the other Second Lien Secured Parties, the Third Lien Collateral Trustee and the other Third Lien Secured Parties in connection with any such bailment arrangement will be in all respects subject to the provisions of Article II.


More Definitions of Third Lien

Third Lien means a Lien granted, or purported to be granted, by a Security Document to the Collateral Trustee, at any time, upon any property of the Company or any other Grantor to secure Third Lien Obligations.
Third Lien means a Lien, junior to the Priority Liens and the Second Liens as provided in the Senior Intercreditor Agreement, granted by the Company or any Material Subsidiary in favor of the Collateral Agent for and on behalf of the holders of Third Lien Debt (and any collateral agent or representative in connection therewith), at any time, upon any property of the Company or any Material Subsidiary to secure Third Lien Obligations.
Third Lien means the Liens on the Third Lien Collateral in favor of Third Lien Parties under Third Lien Collateral Documents.
Third Lien. Mortgages shall mean, collectively, each mortgage, deed of trust, leasehold mortgage, assignment of leases and rents, modifications and any other agreement, document or instrument pursuant to which any Lien on real property is granted to secure any Third Lien Obligations or under which rights or remedies with respect to any such Lien are governed.
Third Lien. Notes As defined in the Restructuring Support Agreement.
Third Lien means a third priority Lien granted pursuant to the Third Lien Collateral Documents to the Third Lien Collateral Agent (for the benefit of the holders of the Third Lien Secured Parties) upon the Third Lien Collateral to secure the Third Lien Obligations.
Third Lien means any Lien securing any Third Lien Obligation.