Working Capital Liens definition
Examples of Working Capital Liens in a sentence
In the event that any Term Loan Secured Party becomes a judgment lien creditor in respect of Common Collateral as a result of its enforcement of its rights as an unsecured creditor, such judgment lien shall be subject to the terms of this Agreement for all purposes (including in relation to the Working Capital Liens and the Working Capital Obligations) to the same extent as all other Liens securing the Term Loan Obligations are subject to the terms of this Agreement.
The Liens granted to Lender pursuant to the Collateral Documents will at all times be fully perfected Liens in and to the Collateral described therein, subject, as to priority, only to any Working Capital Liens of Working Capital Agent and Permitted Encumbrances.
As of the Closing Date, none of the properties and assets of any Credit Party are subject to any Liens other than Working Capital Liens in favor of Working Capital Agent and Permitted Encumbrances, and there are no facts, circumstances or conditions known to any Credit Party that may result in any Liens (including Liens arising under Environmental Laws) other than Permitted Encumbrances.