Applicable Lien definition

Applicable Lien means (x) any Lien on the Collateral created pursuant to any Loan Document, (y) any Lien on the Term Loan Priority Collateral that ranks pari passu with any Lien created pursuant to any Loan Document on the Term Loan Priority Collateral (without regard to control of remedies) and (z) any Lien on the Collateral created pursuant to any ABL Financing Document.
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Applicable Lien means (x) any Lien on the Collateral created pursuant to any First Lien Security Documents and (y) any Lien on the Collateral created pursuant to any ABL Financing Document.
Sample 1
Applicable Lien means (x) any Lien on the Collateral created pursuant to any Loan Document, (y) any Lien on the Term Loan Priority Collateral that ranks pari passu with any Lien created pursuant to any First Lien Financing Document on the Term Loan Priority Collateral (without regard to control of remedies) and (z) any Lien on the Collateral created pursuant to any First Lien Financing Document. “Applicable Rate” means initially a rate per annum equal to in the case of Loans maintained as (A) Base Rate Loans, the applicable rate per annum set forth in Level II of the below pricing grid and (B) Eurocurrency Rate Loans, the applicable rate per annum set forth in Level II of the below pricing grid, in each case, until the date of the delivery of the first Quarterly Pricing Certificate in accordance with the first sentence of the following paragraph (each, a “Start Date”), commencing with the Quarterly Pricing Certificate delivered with respect to the fiscal quarter ending December 31, 2019. From and after the first Start Date to and including the applicable End Date described below, the Applicable Rates for such Type of Loans shall be those set forth below opposite the Historical Excess Availability indicated to have been achieved in any certificate delivered in accordance with the first sentence of the following paragraph: Applicable Rate for Historical Excess Availability as a Applicable Rate for Base Level Eurocurrency percentage of the Line Cap Rate Loans Rate Loans -4
Sample 1

Examples of Applicable Lien in a sentence

  • Lien Not Applicable Lien on Pledge of NCDs Subject to applicable laws, our Company, at its discretion, may note a lien on pledge of NCDs if such pledge of NCDs is accepted by any bank or institution for any loan provided to the NCD Holder against pledge of such NCDs as part of the funding.

  • Lien Not Applicable Lien on Pledge of NCDsSubject to applicable laws, our Company, at its discretion, may note a lien on pledge of NCDs if such pledge of NCDs is accepted by any bank or institution for any loan provided to the NCD Holder against pledge of such NCDs as part of the funding.ISSUE PROCEDURE This chapter applies to all Applicants.

  • If Applicable, Lien Holder/ Lease Holder Shipment Authorization Letter: a letter from your Lien Holder authorizing the exportation of your vehicle.

  • The Applicable Lien Statutes The plaintiffs claim liens against both the well and Rig No. 7.

  • Signature of Owner Position in Corporation if Applicable Name of Corporation if Applicable Lien Holder if Applicable To the best of my knowledge there are no liens against this property.

  • If a lien pursuant to the Applicable Lien Legislation arising from the Work is registered against the Site or other property in relation to the Work, or given to Buyer, Seller shall within seven (7) calendar days, at its sole expense, vacate or discharge the lien.

  • Buyer shall pay to Seller within thirty (30) days following the date Buyer receives each invoice and supporting information under section 14(a), the full undisputed amount specified in such invoice, net of any applicable holdback to such extent due to Applicable Lien Legislation and subject to any applicable withholding under this Order.

  • In addition, a portion of the purchase price paid on closing shall be retained by the Monitor, in an amount determined by the Monitor, tosatisfy potential trust claims which may be asserted against FirstOnSite pursuant to Applicable Lien Legislation, and FirstOnSite’s potential payment obligations, if any, arising in connection with the working capital adjustment under the APA (the “ Additional Trust Claim Reserve”), which reserve shall not be less than $3,000,000.

  • The APA provides that a portion of the Closing Cash Purchase Price shall be retained by the Monitor, in an amount determined by the Monitor (which amount shall not be less than $3,000,000), to satisfy potential trust claims which may be asserted against FirstOnSite pursuant to Applicable Lien Legislation, and FirstOnSite’s potential payment obligations, if any, arising in connection with the working capital adjustment under the APA (the “ Trust Claim Reserve”).

  • In accordance with Applicable Lien Laws, please provide here the name and address of another person to whom notices of the applicable Lien may be sent: Name (Printed): _ Name (Signature): _ Address: Phone: No Representation of Warranties Lessor hereby disclaims any implied or expressed warranties, guarantees, representations of the nature, condition, safety or security of the Unit(s) and the facility.

Related to Applicable Lien

  • Notes Priority Collateral has the meaning set forth in the Intercreditor Agreement.

  • ABL Priority Collateral has the meaning set forth in the Intercreditor Agreement.

  • Applicable Collateral Agent means (i) until the earlier of (x) the Discharge of Credit Agreement and (y) the Non-Controlling Representative Enforcement Date, the Credit Agreement Collateral Agent and (ii) from and after the earlier of (x) the Discharge of Credit Agreement and (y) the Non-Controlling Representative Enforcement Date, the Collateral Agent for the Series of First Lien Obligations represented by the Major Non-Controlling Representative.

  • Applicable Pricing Grid the table set forth below: Level Consolidated Leverage Ratio Libor Margin ABR Margin Commitment Fee Rate I Less than 1.00x 1.75% 0.75% 0.375% II Greater than or equal to 1.00x but less than 1.50x 2.00% 1.00% 0.375% III Greater than or equal to 1.50x but less than 2.00x 2.25% 1.25% 0.375% IV Greater than or equal to 2.00x but less than 2.50x 2.50% 1.50% 0.375% V Greater than or equal to 2.50x but less than 3.25x 3.00% 2.00% 0.50% VI Greater than or equal to 3.25x 3.25% 2.25% 0.50% For purposes of the Applicable Pricing Grid, changes in the Applicable Margin and/or the Commitment Fee Rate resulting from changes in the Consolidated Leverage Ratio shall become effective on the date (the “Adjustment Date”) that is three Business Days after the date on which financial statements are delivered to the Lenders pursuant to Section 6.1 and shall remain in effect until the next change to be effected pursuant to this paragraph. If any financial statements referred to above are not delivered within the time periods specified in Section 6.1, then, until the date that is three Business Days after the date on which such financial statements are delivered, the highest rate set forth in each column of the Applicable Pricing Grid shall apply. In addition, at all times while an Event of Default shall have occurred and be continuing, the highest rate set forth in each column of the Applicable Pricing Grid shall apply. Each determination of the Consolidated Leverage Ratio for purposes of the Applicable Pricing Grid shall be made in a manner consistent with the determination thereof pursuant to Section 7.1.

  • Applicable Policy means any rules, policies, directives, standards of practice or Program Parameters issued or adopted by the Funder, the Ministry or other ministries or agencies of the province of Ontario that are applicable to the HSP, the Services, this Agreement and the parties’ obligations under this Agreement during the term of this Agreement. Without limiting the generality of the foregoing, Applicable Policy includes the other documents identified in Schedule C;

  • Term Loan Priority Collateral as defined in the Intercreditor Agreement.

  • Senior Collateral Agent means Citicorp USA, Inc., in its capacity as Senior Collateral Agent under the Senior Collateral Documents, and its successors.

  • ABL Collateral Agent means JPMorgan Chase Bank, N.A., in its capacity as collateral agent for the ABL Facility Secured Parties, together with its successors and permitted assigns under the ABL Facility Agreement and the ABL Facility Collateral Documents.

  • Parity Lien means a Lien granted by a Security Document to the Collateral Trustee upon any property of the Company or any other Obligor to secure Parity Lien Obligations.

  • ABL Collateral means all of the assets and property of any Grantor, whether real, personal or mixed, with respect to which a Lien is granted as security for any ABL Obligations.

  • 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 Collateral Document to the Collateral Agent upon any property of the Company or any other Obligor to secure Priority Lien Obligations.

  • Permitted Lien means the individual and collective reference to the following: (a) Liens for taxes, assessments and other governmental charges or levies not yet due or Liens for taxes, assessments and other governmental charges or levies being contested in good faith and by appropriate proceedings for which adequate reserves (in the good faith judgment of the management of the Company) have been established in accordance with GAAP, (b) Liens imposed by law which were incurred in the ordinary course of the Company’s business, such as carriers’, warehousemen’s and mechanics’ Liens, statutory landlords’ Liens, and other similar Liens arising in the ordinary course of the Company’s business, and which (x) do not individually or in the aggregate materially detract from the value of such property or assets or materially impair the use thereof in the operation of the business of the Company and its consolidated Subsidiaries or (y) are being contested in good faith by appropriate proceedings, which proceedings have the effect of preventing for the foreseeable future the forfeiture or sale of the property or asset subject to such Lien and (c) Liens incurred in connection with Permitted Indebtedness.

  • 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.

  • Term Priority Collateral has the meaning set forth in the Intercreditor Agreement.

  • Priority Collateral means the ABL Priority Collateral or the Term Priority Collateral, as applicable.

  • Second Lien With respect to each Mortgaged Property, the lien of the mortgage, deed of trust or other instrument securing a Mortgage Note which creates a second lien on the Mortgaged Property.

  • First Lien With respect to any second lien Mortgage Loan, the mortgage loan relating to the corresponding Mortgaged Property having a first priority lien.

  • Applicable Pricing Level means, for each Pricing Period the pricing level set forth below opposite the Debt Rating achieved by Borrower as of the first day of that Pricing Period: Pricing Level Debt Rating I Greater than or equal to A1 / A+ II Less than A1 / A+ but greater than or equal to A2 / A III Less than A2 / A but greater than or equal to A3 / A- V Less than Baa2/BBB provided that in the event that the then prevailing Debt Ratings are “split ratings”, Borrower will receive the benefit of the higher Debt Rating, unless the split is a “double split rating” (in which case the pricing level applicable to the middle Debt Rating will apply) or a “triple split rating” (in which case the pricing level applicable to the Debt Rating above the Debt Rating applicable to the lowest pricing level will apply). For purposes hereof, a Debt Rating is only a “split rating” if the Debt Rating applies to a different pricing level.

  • 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.

  • Term Loan Collateral Agent means Credit Suisse, Cayman Islands Branch, as collateral agent for the lenders under the Term Loan Credit Agreement, together with its respective successors and permitted assigns under the Term Loan Credit Agreement exercising substantially the same rights and powers, or such other agent as may from time to time be appointed thereunder.

  • Applicable Prepayment Percentage means, at any time, for purposes of Section 4.02(e) and the definition of “Retained Excess Cash Flow Amount,” 50%; provided that, so long as no Default or Event of Default is then in existence, if the Total Leverage Ratio is less than 3.50:1.00 as at the last day of the most recently ended Fiscal Year of the U.S. Borrower (as set forth in an officer’s certificate delivered pursuant to Section 8.01(d) for the Fiscal Year of the U.S. Borrower then last ended), the Applicable Prepayment Percentage shall instead be 0%.

  • Priority Lien Cap means $1,950.0 million.

  • Applicable LIBOR Margin means a per annum rate of interest payable in addition to the LIBOR Rate on LIBOR Rate Loans, determined by reference to Section 1.6.

  • Senior Lien means the Liens on the Senior Collateral in favor of the Senior Secured Parties under the Senior Collateral Documents.

  • Applicable Prepayment Premium has the meaning specified therefor in the Fee Letter.