LC Liens definition
LC Liens means the liens of the Pre-Petition LC Issuers and the Pre-Petition LC Lenders under the Pre-Petition Credit Agreement in specified cash collateral held under Section 5.06 of the Pre-Petition Credit Agreement and the holders of the liens in specified cash collateral granted in connection with the Permitted LC Facility in the Pre-Petition Credit Agreement.
Examples of LC Liens in a sentence
Such security interests and liens shall be subject only to: (a) liens and security interests necessary to comply with bonding requirements of the Phil▇▇ ▇▇▇ities as granted by the Phil▇▇ ▇▇▇ities from time to time (the "Bonding Liens"), (b) the LC Liens, (c) the Other Account Intermediary Liens, (d) the Carve-Out (as defined below), and (e) the Pre-Petition Senior Liens.
The Debtors and the Canadian Entities hereby waive any and all rights to use the Cash Collateral securing the LC Liens or the Other Account Intermediary Liens, or any Cash Collateral deposited in the Excess Proceeds Account.