General Lien definition

General Lien means, with respect to any General Collateral, a valid and enforceable Lien thereon in favor of the General Collateral Agent for the benefit of the General Secured Parties conferred under the General Security Instruments which is fully perfected and ranking of higher priority than any other Lien on such property other than a Priority Lien and Permitted Liens.
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General Lien. ’ means that OCC has a security interest in all or specified assets in a Clearing Member account as security for all of the Clearing Member’s obligations to OCC regardless of the source or nature of such obligations. See Article I, Section 1G(1) of OCC’s By-Laws.
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General Lien means a lien mentioned in section 29;
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Examples of General Lien in a sentence

  • Each Grantor hereby grants to the General Collateral Agent, for the benefit of the General Secured Parties, and notice is hereby given that each Grantor has granted to the General Collateral Agent, for the benefit of the General Secured Parties and the General Collateral Agent, a General Lien in the Collateral to secure the payment and performance in full of all of the Secured Obligations.

  • Other than indebtedness incurred under the Credit Facilities Basket, Purchase Money/Cap Lease Basket (the assets in respect of which shall not secure the New Second Lien Loans), Acquisition / Acquired Debt Basket, Permitted Pari Passu Second Lien Debt Basket, General Lien Basket and certain other ordinary course exceptions, no other debt shall be permitted to be secured on a senior or pari passu basis.

  • The provisions of this Section 10.24 are intended as an inducement to the secured parties under the ABL Credit Agreement or under any other Permitted Revolving Indebtedness or any Permitted Credit Agreement Refinancing Indebtedness, Permitted Incremental Equivalent/Ratio Indebtedness or Permitted General Lien Indebtedness to extend credit to the Borrower thereunder and such secured parties are intended third party beneficiaries of such provisions.

Related to General Lien

  • Agricultural lien means an interest, other than a security interest, in farm products:

  • Initial Lien as defined in Subsection 8.6.

  • Permitted Collateral Liens means (a) in the case of Collateral other than Mortgaged Property, the Liens permitted under Section 6.01 and (b) in the case of Mortgaged Property, “Permitted Collateral Liens” shall mean the Liens described in clauses (a), (c), (d), (g), (h), (o), (p) and (u) of Section 6.01.

  • Contested Collateral Lien Conditions means, with respect to any Permitted Lien of the type described in clauses (a), (b), (e) and (f) of Section 6.02, the following conditions:

  • Environmental Lien means any Lien in favor of any Governmental Authority for Environmental Liabilities and Costs.

  • General Liabilities shall have the meaning given it in Article III, Section 6(b) of this Declaration of Trust;

  • General Liability means:Your legal liability in respect of Personal Injury and/or Property Damage and/or Advertising Injury caused by or arising out of an Occurrence happening in connection with the Business other than Products Liability.

  • Customary Permitted Liens means, with respect to any Person, any of the following Liens:

  • 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.

  • Permitted Prior Working Capital Lien means, with respect to any borrower under a Bank Loan, a security interest to secure a senior facility for such borrower and/or any of its parents and/or subsidiaries; provided that (i) such Bank Loan has a second priority lien on the collateral that is subject to the first priority lien of such senior facility (or a pari passu lien on such collateral), (ii) such senior facility is not secured by any other assets (other than a pari passu lien or a second priority lien, subject to the pari passu or first priority lien of the Bank Loan) and does not benefit from any standstill rights or other agreements (other than customary rights) with respect to any other assets and (iii) the maximum outstanding principal amount of such senior facility is not greater than 15% of the aggregate enterprise value of such borrower (as determined at the time of closing of the transaction, and thereafter an enterprise value for such borrower determined in a manner consistent with the valuation methodology applied in the valuation for such borrower as determined by the Advisor (so long as it has the necessary delegated authority) or the Borrower’s board of directors (or the appropriate committee thereof with the necessary delegated authority) in a commercially reasonable manner, including the use of an Approved Third-Party Appraiser in the case of Unquoted Investments).

  • Guaranteed automobile protection insurance means insurance offered in

  • Environmental Liens shall have the meaning set forth in Section 12.5 hereof.

  • Lien means, with respect to any asset, any mortgage, lien, pledge, charge, security interest or encumbrance of any kind in respect of such asset, whether or not filed, recorded or otherwise perfected under applicable law, including any conditional sale or other title retention agreement, any lease in the nature thereof, any option or other agreement to sell or give a security interest in and any filing of or agreement to give any financing statement under the Uniform Commercial Code (or equivalent statutes) of any jurisdiction.

  • Valid lien means a lien that is effective against the holder of a judicial lien subsequently obtained by legal or equitable process or proceedings.

  • General Liability Insurance Subcontractor shall carry minimum primary General Liability Insurance for the following amounts:

  • Blanket encumbrance means a trust deed or mortgage or any other lien or encumbrance,

  • Senior Collateral means any “Collateral” as defined in any Credit Agreement Loan Document or any other Senior 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 Senior Collateral Document as security for any Senior Obligations.

  • Blanket insurance policy means a group policy covering a defined class of

  • Encumbrance means any charge, claim, community property interest, pledge, condition, equitable interest, lien (statutory or other), option, security interest, mortgage, easement, encroachment, right of way, right of first refusal, or restriction of any kind, including any restriction on use, voting, transfer, receipt of income or exercise of any other attribute of ownership.

  • Permitted Encumbrance means, with respect to any Mortgaged Property, such exceptions to title as are set forth in the Mortgage Policy delivered with respect thereto, all of which exceptions must be acceptable to the Administrative Agent in its reasonable discretion.

  • Securing means the application of Government-approved telecommunications security equipment, devices, techniques, or services to contractor telecommunications systems.

  • Interment means the disposition of human remains by earth interment, entombment, or inurnment.

  • Statutory Lien ’ means liens created by K.S.A. 2-1319, 2-2608, 2-3007, 34-239, 47-836, 58-201, 58-203, 58-204, 58-207, 58-218, 58-220, 58-221, 58-241, 58-242, 58-2524, 58-2525, 58-2526, 58-2527, 58-2528 and 84-7-209, and amendments thereto.

  • Betterment means a repair or a replacement to property that results in a condition superior to or more extensive than its form and condition immediately prior to the loss. Betterment shall not mean the additional costs of repair or replacement of property that is required by applicable governmental law or regulation as included within Replacement Cost.

  • Mortgage Impairment Insurance Policy A mortgage impairment or blanket hazard insurance policy as described in Section 4.11.

  • Common Collateral means all of the assets of any Grantor, whether real, personal or mixed, constituting both Senior Lender Collateral and Noteholder Collateral.