ABL Lien definition

ABL Lien means any Lien created by the ABL Security Documents.

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

ABL Lien means a Lien granted, or purported to be granted, by an ABL Security Document to the ABL Collateral Agent, at any time, upon any property of the Issuer or any Subsidiary Guarantor to secure ABL Lien Obligations; provided that any such Lien upon Collateral other than ABL Priority Collateral will be junior to the Priority Liens and the Junior Liens.

ABL Lien means a Lien granted by an ABL Security Document to the ABL Collateral Agent, at any time, upon any ABL Priority Collateral of the Company or any Guarantor to secure ABL Lien Obligations; provided that any such Lien upon Collateral other than ABL Priority Collateral will be junior to the Priority Liens and the Junior Liens.

Examples of ABL Lien in a sentence

No Lessee Party shall, and no Lessee Party shall permit any of its Restricted Subsidiaries to, directly or indirectly, create, Incur or suffer to exist any ABL Lien securing Indebtedness of such Lessee Party or any Restricted Subsidiary, other than ABL Permitted Liens, on any asset or property of such Lessee Party or Restricted Subsidiary.
Except for Liens permitted by clause (35) of the definition of “Permitted Liens,” the Company and the Guarantors may not create any Lien on any of the Collateral with a priority that is lower than that of any ABL Lien, First-Lien Note Lien, Second-Lien Note Lien or Convertible Note Lien yet also higher than that of any ABL Lien, First-Lien Note Lien, Second-Lien Note Lien or Convertible Note Lien (other than an ABL Lien, a First-Lien Note Lien, a Second-Lien Note Lien or Convertible Note Lien).
BLI and each Restricted Subsidiary of BLI has good and marketable title to all of the Subsidiary Equity Interests and Joint Venture Equity Interests it purports to own, free and clear in each case of any ABL Lien (other than ABL Permitted Liens) and all such Subsidiary Equity Interests and Joint Venture Equity Interests have been validly issued and fully paid and are nonassessable (if applicable).
The Collateral will also secure the Issuer’s and the Guarantors’ Obligations under the ABL Credit Agreement, Pari Passu Notes Lien Indebtedness and Pari Passu ABL Lien Indebtedness as provided in the Intercreditor Agreements and any Junior Lien Indebtedness as provided under the Junior Lien Intercreditor Agreement.
The Collateral will also secure the Issuers’ and the Guarantors’ Obligations under the ABL Credit Facility, Pari Passu Notes Lien Indebtedness (including the Term Loan Obligations) and Pari Passu ABL Lien Indebtedness as provided in the Intercreditor Agreements and any Junior Lien Indebtedness as provided under the Junior Lien Intercreditor Agreement, if any.

More Definitions of ABL Lien

ABL Lien means a Lien granted under or pursuant to an ABL Collateral Document, at any time, upon any property of the Company or any Guarantor or any other Person to secure ABL Debt Obligations.

ABL Lien means any Lien granted or purported to be granted to any ABL Secured Party as security for any ABL Obligation.

ABL Lien means any Lien created, or intended to be created, pursuant to the ABL Security Documents.

ABL Lien means a Lien granted under or pursuant to an ABL Collateral Document, at any time, upon any property of the Company or any Guarantor or any other Person to secure ABL Debt Obligations. “ABL Loan Documents” means, collectively, the ABL Credit Agreement, the ABL Collateral Documents and the other Loan Documents (as such term or similar term is defined in the ABL Credit Agreement) and each of the other agreements, documents and instruments providing for or evidencing any other ABL Debt Obligation, and any other agreement, document or instrument executed or delivered at any time in connection with any ABL Debt Obligations, including any “Loan Document” as such term or similar term is defined in the ABL Credit Agreement and any intercreditor or joinder agreement among holders of ABL Debt Obligations, to the extent such are effective at the relevant time, as each may be amended, restated, amended and restated, supplemented, refunded, deferred, restructured, replaced, increased or refinanced from time to time in whole or in part (whether with the Initial ABL Collateral Agent and lenders under the ABL Credit Agreement or other agents and lenders or otherwise), in each case in accordance with the provisions of the ABL Intercreditor Agreement. “ABL Priority Collateral” comprises, with respect to the Company and the Guarantors, all (a) accounts, (b) inventory, (c) chattel paper, documents, general intangibles, instruments, or investment property, in each case evidencing or substituted for, any account, any inventory or any other ABL Priority Collateral, (d) all deposit accounts into which any proceeds of any account, any inventory or any other ABL Priority Collateral are deposited, (e) all money, cash or Cash Equivalents constituting proceeds of, evidencing

ABL Lien means any Lien created by the ABL Security Documents. "ABL Obligations" means (a) all principal of and interest (including without limitation any Post- Petition Interest) and premium (if any) on all loans made pursuant to the ABL Agreement or any ABL DIP Financing by the ABL Secured Parties, (b) all reimbursement obligations (if any) and interest thereon (including without limitation any Post-Petition Interest) with respect to any letter of credit or similar instruments issued pursuant to the ABL Agreement, (c) all Swap Obligations, (d) all Banking Services Obligations and (e) all guarantee obligations, indemnities, fees, expenses and other amounts payable from time to time pursuant to the ABL Documents, in each case whether or not allowed or allowable in an Insolvency Proceeding. To the extent any payment with respect to any ABL 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 Notes 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 ABL Secured Parties and the Notes Secured Parties, be deemed to be reinstated and outstanding as if such payment had not occurred. "ABL Obligations Payment Date" means the first date on which (a) the ABL Priority Obligations (other than those that constitute Unasserted Contingent Obligations) have been indefeasibly paid in cash in full (or cash collateralized or defeased in accordance with the terms of the ABL Documents), (b) all commitments to extend credit under the ABL Documents have been terminated, (c) there are no outstanding letters of credit or similar instruments issued under the ABL Documents (other than such as have been cash collateralized or defeased in accordance with the terms of the ABL Documents), (d) the Swap Obligations and Banking Services Obligations have been terminated (or the applicable parties have entered into other arrangements satisfactory to the ABL Secured Parties party thereto), (e) ABL Representative has received cash collateral in such amount as ABL Representative determines is reasonably necessary to secure the ABL Secured Parties in respect of any asserted or threatened (in writing) claims, demands, actions, suits, proceedings, investiga...

ABL Lien means any Lien securing (a) Ravenswood ABL Lien Debt Obligations, (b) Indebtedness and other Obligations in respect of the Wise ABL Facility or (c) Indebtedness and other Obligations in respect of any other asset-based lending facility subject to a customary intercreditor agreement that was entered into in accordance with the terms of this Indenture.

ABL Lien means a Lien granted by a Security Document to the ABL Collateral Agent, at any time, upon any ABL Collateral and any other Collateral of the Company or any Guarantor to secure ABL Lien Obligations; provided that any such Lien upon Collateral (other than ABL Collateral) will be junior to the Liens securing the Notes pursuant to the intercreditor agreement.