First Liens definition

First Liens means Liens created or purported to be created under the First Lien Security Documents securing any First Lien Secured Obligations.

First Liens means the Liens on the Collateral granted by the Company or the Guarantors to secure the payment of any First Lien Obligations, and all replacements, renewals and other modifications of such Liens.3

First Liens has the meaning specified in Section 7.14(b).

Examples of First Liens in a sentence

• For QM, a loan will be considered a Higher Priced Mortgage Loan if the APR exceeds the Average Prime Offer Rate by 1.50% or more percentage points on conforming First Liens and 3.50% or more percentage points on Second Liens.

• A loan will be considered a Higher Priced Mortgage Loan under the HPML Appraisal Rule if the APR exceeds the Average Prime Offer Rate by 1.50% or more percentage points on Conforming First Liens, 2.50% for Jumbo First Liens and 3.50% or more percentage points on Second Liens.

• For QM, a loan will be considered a Higher Priced Covered Transaction if the APR exceeds the Average Prime Offer Rate by 1.50% or more percentage points on conforming First Liens and 3.50% or more percentage points on Second Liens.

• A loan was considered a Higher Priced Mortgage Loan under the HPML Appraisal Rule if the APR exceeded the Average Prime Offer Rate by 1.50% or more percentage points on Conforming First Liens, 2.50% for Jumbo First Liens and 3.50% or more percentage points on Second Liens.

• If the Issuer exercises its covenant defeasance option, the First Liens, as they pertain to the Notes and the Guarantees, will be released and each Guarantor will be released from all its obligations under its Guarantee of the Notes.

More Definitions of First Liens

First Liens means (i) the first and prior liens and security interests granted in the Collateral in favor of the First Lien Agent on behalf of the First Lien Secured Parties, as security for the payment and performance of the First Lien Obligations and (ii) the first and prior liens and security interests granted in the Collateral in favor of the Collateral Agent on behalf of the First Lien Secured Parties, as security for the payment and performance of the First Lien Obligations.

First Liens means Liens securing First Lien Debt.

First Liens means all Liens in favor of the First Lien Agent, for the benefit of the First Secured Creditors, on any Assets, whether such Liens are now in existence or arise hereafter, up to the amount of the permitted First Secured Obligations.

First Liens means (a) Liens securing the Takeback Term Loans, the Existing First Lien Notes or the New First Lien Notes and (b) Liens on collateral subject to the Liens described in clause (a) that are equal and ratable with the applicable Liens described in clause (a).

First Liens has the meaning set forth in Section 2.09 (b)

First Liens has the meaning specified in this Agreement.

First Liens has the meaning set forth in Section 3.2(a).