Third Priority Lien definition

Third Priority Lien means any Lien on any Type of Common Collateral securing any Third Priority Obligation.
Sample 1Sample 2Sample 3
Third Priority Lien means a Lien granted pursuant to a Security Document to the Collateral Agent upon any property of the Company or any Guarantor to secure Third Priority Lien Obligations.
Sample 1Sample 2Sample 3
Third Priority Lien means any Lien created by the Third Priority Security Documents.
Sample 1Sample 2Sample 3

Examples of Third Priority Lien in a sentence

  • The contractor will be required to pay a commission to DVI at the end of each month and must submit copies of their profit/loss statements with the monthly payment.

  • In furtherance of Section 2.03, if the New First Lien Obligations are secured by assets of the Grantors that do not also secure the Second Lien Obligations and the Third Lien Obligations, the applicable Grantors shall promptly grant a Second Priority Lien and a Third Priority Lien on such assets to secure the Second Priority Obligations and the Third Lien Obligations, respectively.

  • In furtherance of Section 2.03, if the New Second Lien Obligations are secured by assets of the Grantors that do not also secure the Third Lien Obligations, the applicable Grantors shall promptly grant a Third Priority Lien on such assets to secure the Third Lien Obligations, respectively.

  • The Notes are secured on a third-priority basis, Equally and Ratably with all other Third Priority Lien Obligations, by (a) a security interest in all the assets of the Company and the Guarantors other than Excluded Assets, and (b) a pledge of the equity interests in the Company and CalGen Expansion Company, LLC, subject to liens securing First Priority Lien Obligations and Second Priority Lien Obligations and to other Permitted Prior Liens.

  • No Second Priority Secured Party and no Third Priority Secured Party shall take, or cause to be taken, any action the purpose of which is to make any Second Priority Lien or Third Priority Lien, as applicable, pari passu with or senior to the First Priority Lien.

  • Selection of such Third Priority Lien Obligations or Pari Passu Indebtedness, as applicable shall be made pursuant to the terms of such Third Priority Lien Obligations or Pari Passu Indebtedness.

  • If the aggregate principal amount of Notes or other Third Party Lien Obligations surrendered by such holders thereof exceeds the amount of Collateral Excess Proceeds, the Trustee shall select the Notes and such other Third Priority Lien Obligations to be purchased in the manner described below.

  • We thus conclude thatEH(U ) ≥ EH(sV ) ≥ EH(V ) ,since s ≤ 1 and H is increasing by assumption.∞Theorem 3.3. Consider model (1) with p = 1 and A = [0, ).

  • Class 6 consists of the Hollywood Third Priority Lien Claims against the Hollywood Debtor.

  • Except to the extent that a Holder of an Allowed Hollywood Third Priority Lien Claim agrees to less favorable treatment, in full and final satisfaction, settlement, release, and discharge of, and in exchange for each and every Allowed Hollywood Third Priority Lien Claim, Holder of such Hollywood Third Priority Lien Claims shall receive such Holder’s Pro Rata share of the Fine Homes Claim Resolution Reserve.


More Definitions of Third Priority Lien

Third Priority Lien means collectively Note Liens and Liens securing Obligations un- der any other Pari Passu Obligations.
Sample 1
Third Priority Lien means the Liens on the Third Lien Collateral in favor of Third Lien Secured Parties under Third Lien Collateral Documents.
Sample 1
Third Priority Lien means any Lien on any Common Collateral of any Type securing any Third Priority Obligations; provided that, prior to the 21C Term Loan Termination Date, solely for purposes of the MDL Priority Collateral Enforcement Provisions, “Third Priority Lien” shall mean the Liens on the MDL Priority Collateral securing the PIK Toggle Notes Secured Obligations.
Sample 1
Third Priority Lien means a Lien that constitutes a “Third Lien” as defined in the First/Second/Third Lien Intercreditor Agreement.
Sample 1

Related to Third Priority Lien

  • Second Priority Lien means the Liens on the Second Priority Collateral in favor of Second Priority Debt Parties under Second Priority Collateral Documents.

  • Priority Lien means a Lien granted by a Security Document to the Collateral Trustee, at any time, upon any property of any Grantor to secure Priority Lien Obligations.

  • First Priority Lien means any Lien created by the First Priority Security Documents.

  • Second Priority Secured Parties means the Second Priority Representative, the Second Priority Creditors and any other holders of the Second Priority Obligations.

  • Permitted Priority Liens means Liens permitted under any of the clauses (b), (c), (d), (e), (f) or (i) of Section 9.02.

  • First Priority Liens means the first priority Liens securing the First Lien Obligations.

  • Second Priority means, with respect to any Lien purported to be created in any Collateral pursuant to any Collateral Document, that such Lien is the only Lien to which such Collateral is subject, other than any Permitted Lien.

  • Second Priority Collateral means any “Collateral” as defined in any Second Priority Debt Document or any other assets of the Borrower or any other Grantor with respect to which a Lien is granted or purported to be granted pursuant to a Second Priority Collateral Document as security for any Second Priority Debt Obligation.

  • Second Priority Debt Documents means the Initial Second Priority Debt Documents and, with respect to any series, issue or class of Second Priority Debt, the promissory notes, indentures, Collateral Documents or other operative agreements evidencing or governing such Indebtedness, including the Second Priority Collateral Documents.

  • Equal Priority Intercreditor Agreement means the Equal Priority Intercreditor Agreement substantially in the form of Exhibit G-1 among (x) the Collateral Agent and (y) one or more representatives of the holders of one or more classes of Permitted Additional Debt and/or Permitted Equal Priority Refinancing Debt, with any immaterial changes and material changes thereto in light of the prevailing market conditions, which material changes shall be posted to the Lenders not less than five Business Days before execution thereof and, if the Required Lenders shall not have objected to such changes within five Business Days after posting, then the Required Lenders shall be deemed to have agreed that the Administrative Agent’s and/or Collateral Agent’s entry into such intercreditor agreement (with such changes) is reasonable and to have consented to such intercreditor agreement (with such changes) and to the Administrative Agent’s and/or Collateral Agent’s execution thereof.

  • Priority Lien Secured Parties means the holders of Priority Lien Obligations and any Priority Debt Representatives.

  • Second Priority Representative means (i) in the case of the Initial Second Priority Debt Facility covered hereby, the Initial Second Priority Representative and (ii) in the case of any Second Priority Debt Facility and the Second Priority Debt Parties thereunder the trustee, administrative agent, collateral agent, security agent or similar agent under such Second Priority Debt Facility that is named as the Representative in respect of such Second Priority Debt Facility in the applicable Joinder Agreement.

  • First Priority Secured Parties means the First Priority Representative, the First Priority Creditors and any other holders of the First Priority Obligations.

  • Parity Lien means a Lien granted by any Obligor in favor of the Collateral Trustee pursuant to a Security Document, at any time, upon any property of any Obligor to secure Parity Lien Obligations.

  • Second Priority Obligations means (a) with respect to the Existing Second Priority Agreement, all “Secured Obligations” of each Loan Party as defined in the “Security Agreement” referred to in the Existing Second Priority Agreement and (b) with respect to each other Second Priority Agreement, (i) all principal of and interest (including without limitation any Post-Petition Interest) and premium (if any) on all indebtedness under such Second Priority Agreement, and (ii) all guarantee obligations, fees, expenses and other amounts payable from time to time pursuant to the applicable Second Priority Documents, in each case whether or not allowed or allowable in an Insolvency Proceeding. To the extent any payment with respect to any Second Priority Obligation (whether by or on behalf of any Loan Party, as proceeds of security, enforcement of any right of setoff or otherwise) is declared to be a fraudulent conveyance or a preference in any respect, set aside or required to be paid to a debtor in possession, any First Priority Secured Party, receiver or similar Person, then the obligation or part thereof originally intended to be satisfied shall, for the purposes of this Agreement and the rights and obligations of the First Priority Secured Parties and the Second Priority Secured Parties hereunder, be deemed to be reinstated and outstanding as if such payment had not occurred.

  • Priority Lien Security Documents means the Priority Credit Agreement (insofar as the same grants a Lien on the Collateral), each agreement listed in Part A of Exhibit B hereto, and any other security agreements, pledge agreements, collateral assignments, mortgages, deeds of trust, control agreements, or grants or transfers for security, now existing or entered into after the date hereof, executed and delivered by the Borrower or any other Grantor creating (or purporting to create) a Lien upon Collateral in favor of the Priority Lien Agent (including any such agreements, assignments, mortgages, deeds of trust and other documents or instruments associated with any Priority Substitute Credit Facility).

  • Second Priority Collateral Documents means the Noteholder Collateral Documents and any other agreement, document or instrument pursuant to which a Lien is now or hereafter granted securing any Second Priority Claims or under which rights or remedies with respect to such Liens are at any time governed.

  • First Priority Documents means the First Priority Agreement, each First Priority Security Document and each First Priority Guarantee.

  • Priority Lien Documents means the Priority Credit Agreement, the Priority Lien Security Documents, the other “Loan Documents” (as defined in the Priority Credit Agreement) and all other loan documents, notes, guarantees, instruments and agreements governing or evidencing, or executed or delivered in connection with, any Priority Substitute Credit Facility.

Most Referenced Clauses

Most Referenced Definitions