First Lien. With respect to any second lien Mortgage Loan, the mortgage loan relating to the corresponding Mortgaged Property having a first priority lien.
First 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 first lien on the Mortgaged Property.
First Lien means a Lien granted by a Security Document to the Collateral Agent for the benefit of the holders of First Lien Debt, at any time, upon any property of the Company or any other Guarantor to secure First Lien Obligations.
Examples of First Lien in a sentence
In the event of foreclosure or deed in lieu of foreclosure of a prior mortgage, mortgage deed, deed of trust, security deed, or assignment of the first mortgage, mortgage deed, deed of trust or security deed securing the First Lien Note to the Secretary of Housing and Urban Development, any provisions herein or any provisions in any other collateral agreement restricting the use of the Property or otherwise restricting the Borrower’s ability to sell the Property will have no further force or effect.
Any such application to Other First Lien Indebtedness shall reduce any prepayments otherwise required hereunder by an equivalent amount.
More Definitions of First Lien
First Lien means with respect to each Mortgaged Property, the lien of the mortgage, deed of trust or other instrument securing a mortgage note which creates a first lien on the Mortgaged Property.
First Lien means the liens on the Collateral in favor of the Secured Parties under the Collateral Documents relating to the Notes and the other Secured Parties under the other Collateral Documents.
First Lien means the liens on the Collateral in favor of the Secured Parties under the Collateral Documents.
First Lien. With respect to any Second Lien Mortgage Loan, the mortgage loan relating to the corresponding Mortgaged Property having a first priority lien. Xxxxxxx Mac: Xxxxxxx Mac, or any successor thereto.
First Lien means the most senior mortgage or deed of trust on the property that is the subject of the notice of default or notice of sale.
First Lien means the Liens on the First-Lien Collateral in favor of the First-Lien Secured Parties under the First-Lien Collateral Documents.
First Lien means a Lien granted by the Company or any other Guarantor in favor of the Collateral Agent, at any time, upon any property of the Company or such other Guarantor to secure First Lien Obligations.