First in time, first in right definition

First in time, first in right means that the first of the two liens to attach and become “perfected”— in other words, enforceable against other liens— has priority. For example, a local government property tax lien is first in time, first in right compared with a lien for unpaid state income or sales taxes.18 If Carolina County forecloses on Parcel A for delinquent 2008 property taxes, the county’s property tax lien would be senior to state tax liens that attached to Parcel A after January 1, 2008—the date on which the 2008 property tax lien attached to real property— and junior to state tax liens that attached before that date.
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Examples of First in time, first in right in a sentence

  • Because of the "First in time, first in right" doctrine, the state can make closures or issue a stop pumping order to well owners who are the most recent to receive water rights (Junior water rights).

  • First possession – first to have property right Subsequent possession – rights that preempt or superceded rights of those before First in time, first in right Acquisition by Discovery Discovery – first to find something previously thought unfound Originally believed “unchristian” land Ownership v.

  • The study conducted by Deb (2006) was mainly concerned with protection of GIs as collective marks in the context of Japan and also highlighted on the possible contentions between trademark and GIs. The inadequacy of trademark (which is based on the principle of 'First in time, first in right') in protecting GIs, among others, was particularly highlighted in the study.

  • Only time CRA loses is if there is a bankruptcy (secured creditors beat CRA in a bankruptcy).PARTIAL ABOLITION OF PRIORITY CL Rule of creditors’ priorities: First in time, first in right.

  • For this research the maximum grid step, far from the region of interest, is 5 mm thus the grid steps remains smaller than λ/15: ∆max < λ/15.

Related to First in time, first in right

  • Early Opt-in Effective Date means, with respect to any Early Opt-in Election, the sixth (6th) Business Day after the date notice of such Early Opt-in Election is provided to the Lenders, so long as the Administrative Agent has not received, by 5:00 p.m. (New York City time) on the fifth (5th) Business Day after the date notice of such Early Opt-in Election is provided to the Lenders, written notice of objection to such Early Opt-in Election from Lenders comprising the Required Lenders.

  • TENTH The Board of Directors, by resolution passed by a majority of the whole Board, may designate any of their number to constitute an Executive Committee, which Committee, to the extent provided in said resolution, or in the By-Laws of the Company, shall have and may exercise all of the powers of the Board of Directors in the management of the business and affairs of the Corporation, and shall have power to authorize the seal of the Corporation to be affixed to all papers which may require it.

  • Early Opt-in Election means the occurrence of:

  • Delivery into consignees store or to his site means delivered and unloaded in the specified store or depot or on the specified site in compliance with the conditions of the contract or order, the supplier bearing all risks and charges involved until the supplies are so delivered and a valid receipt is obtained.

  • Expansion to an existing manufactured home park or subdivision means the preparation of additional sites by the construction of facilities for servicing the lots on which the manufactured homes are to be affixed (including the installation of utilities, the construction of streets, and either final site grading or the pouring of concrete pads).

  • Date of Grant means the date on which the granting of an Award is authorized, or such other date as may be specified in such authorization.

  • First Anniversary means the first anniversary of the Closing Date.

  • Right of Repurchase means the Company’s right of repurchase described in Section 7.

  • Option to Build means the option of the New Service Customer to build certain Customer- Funded Upgrades, as set forth in, and subject to the terms of, the Construction Service Agreement.

  • Default Right has the meaning assigned to that term in, and shall be interpreted in accordance with, 12 C.F.R. §§ 252.81, 47.2 or 382.1, as applicable.

  • Date of Expiration means one year from the date of issuance of the medical cannabidiol registration card by the department of transportation.

  • CONTRACT ANNIVERSARY The anniversary of the Contract Date.

  • Substantial and Compelling Reason in the Public Interest means a reason that is justified by an important, specific, and articulated public interest goal that is within ICANN's mission and consistent with a balanced application of ICANN's core values as defined in ICANN's Bylaws.

  • In this award, unless the contrary intention appears:Act means the Fair Work Act 2009 (Cth)[Definition of adult apprentice inserted by PR544268 ppc 01Jan14] adult apprentice means an apprentice who is 21 years of age or over at the commencement of their apprenticeshipagreement-based transitional instrument has the meaning in the Fair Work (Transitional Provisions and Consequential Amendments) Act 2009 (Cth)award-based transitional instrument has the meaning in the Fair Work (Transitional Provisions and Consequential Amendments) Act 2009 (Cth)[Definition of default fund employee inserted by PR546097 ppc 01Jan14] default fund employee means an employee who has no chosen fund within the meaning of the Superannuation Guarantee (Administration) Act 1992 (Cth)[Definition of defined benefit member inserted by PR546097 ppc 01Jan14] defined benefit member has the meaning given by the Superannuation Guarantee (Administration) Act 1992 (Cth)[Definition of Division 2B State award inserted by PR503694 ppc 01Jan11] Division 2B State award has the meaning in Schedule 3A of the Fair Work (Transitional Provisions and Consequential Amendments) Act 2009 (Cth)[Definition of Division 2B State employment agreement inserted by PR503694 ppc 01Jan11] Division 2B State employment agreement has the meaning in Schedule 3A of theFair Work (Transitional Provisions and Consequential Amendments) Act 2009 (Cth)[Definition of employee substituted by PR997772 from 01Jan10] employee means national system employee within the meaning of the Act [Definition of employer substituted by PR997772 from 01Jan10] employer means national system employer within the meaning of the Actenterprise award-based instrument has the meaning in the Fair Work (Transitional Provisions and Consequential Amendments) Act 2009 (Cth)NES means the National Employment Standards as contained in sections 59 to 131 of the Fair Work Act 2009 (Cth)on-hire means the on-hire of an employee by their employer to a client, where such employee works under the general guidance and instruction of the client or a representative of the clientstandard rate means the minimum weekly wage for Level 3 in clause 14—Minimum wagestransitional minimum wage instrument has the meaning in the Fair Work (Transitional Provisions and Consequential Amendments) Act 2009 (Cth)

  • Verification on oath or affirmation means a declaration, made by an individual on oath or affirmation before a notarial officer, that a statement in a record is true.

  • Real-time Energy Market means the purchase or sale of energy and payment of Transmission Congestion Charges for quantity deviations from the Day-ahead Energy Market in the Operating Day.

  • Option to Purchase has the meaning set forth in Section 13.1.

  • Notice of Intent to Cure has the meaning specified in Section 6.02(b).

  • Applicable Anniversary of the Commencement Date means the fifth (5th) anniversary of the Commencement Date.

  • Anniversary Each anniversary of the Cut-off Date.

  • Major transit investment corridor means public transit service that uses or

  • Election to Foreclose Any election by the Purchaser to proceed with the Commencement of Foreclosure, made in accordance with Section 2.03(a).

  • Market Value per Share means, as of any particular date, the closing price of a Common Share as reported for that date on the New York Stock Exchange or, if the Common Shares are not then listed on the New York Stock Exchange, on any other national securities exchange on which the Common Shares are listed, or if there are no sales on such date, on the next preceding trading day during which a sale occurred. If there is no regular public trading market for the Common Shares, then the Market Value per Share shall be the fair market value as determined in good faith by the Committee. The Committee is authorized to adopt another fair market value pricing method provided such method is stated in the applicable Evidence of Award and is in compliance with the fair market value pricing rules set forth in Section 409A of the Code.

  • Event Outside Our Control means any act or event beyond WRAS’s reasonable control, including without limitation strikes, lock-outs or other industrial action by third parties, civil commotion, riot, invasion, terrorist attack or threat of terrorist attack, war (whether declared or not) or threat or preparation for war, fire, explosion, storm, flood, earthquake, subsidence, epidemic or other natural disaster, or failure of public or private telecommunications networks [or impossibility of the use of railways, shipping, aircraft, motor transport or other means of public or private transport;

  • Notice of Election to Purchase has the meaning assigned to such term in Section 15.1(b).

  • Time share means either a time-share estate or a time-share use plus its incidental benefits;