Examples of First Lien Last Out Loan in a sentence
The identity of each Collateral Obligation that is a First Lien Last Out Loan.
First Lien Last Out Loan: Any Collateral Obligation that would be a Senior Secured Loan but for the fact that following a default such Collateral Obligation becomes subordinated to other Senior Secured Loans of the same Obligor and is not entitled to payments until such other Senior Secured Loans are paid in full.
It shows that the trustee had discretion, undermining any inference that defendant must have caused the loss alleged; Exhibit B does not show as false plaintiffs’ allegation that the trustee was “forced” to trade.
Loan type (Broadly Syndicated Loan, Middle Market Loan, First Lien Last Out Loan or Second Lien Loan); (dd) the applicable industry classification group set forth on Schedule IV;(ee) Tranche Size; and(ff) whether such Loan is a Delayed Draw Loan or a Revolving Loan.
First Lien Last Out Loan: A Collateral Obligation that would be a Senior Secured Loan but for the fact that following a default such Collateral Obligation becomes subordinated to other SeniorSecured Loans of the same obligor and is not entitled to payments until such other Senior Secured Loans are paid in full.