Examples of Permitted Priority Liens in a sentence
Priority Liens in the Aggregate Collateral, subject only to Permitted Priority Liens.
All DIP Collateral shall be free and clear of other liens, claims and encumbrances, except the Permitted Priority Liens, Adequate Protection Liens, the Existing Liens, and any other liens expressly permitted under the Existing RBL Credit Agreement.
The DIP Agent shall enjoy the benefit of (i) all deposit account control agreements, blocked account control agreements, securities account control agreements, and similar agreements to which the Existing RBL Agent is a party and (ii) subject and subordinate to the rights of the holders of any Permitted Priority Liens, all other deposit account control agreements, blocked account control agreements, securities account control agreements, and similar agreements to which any Debtor is a party.
The Administrative Agent shall have received lien search reports of a recent date before the Closing Date for each of the jurisdictions in which UCC-1 financing statements, fixture filings and the Mortgage are intended to be filed in respect of the Collateral which such reports shall not include any Liens other than (i) Permitted Priority Liens and (ii) other Permitted Liens to the extent junior to the Liens granted to the Collateral Agent under the Security Documents.
The Proposal Trustee understands that, with the possible exception of a small amount registered by the Ministry of Finance under the Personal Property Security Act (Ontario) in respect of Employer Health Tax arrears, there are currently no other Permitted Priority Liens.