Lease Lien definition
Lease Lien means the Lien, if any, created under the coal mining leases that provide for royalty payments to be made by the lessee to the lessor and create a security interest in favor of the lessor to secure payment of such royalty payments.
Examples of Lease Lien in a sentence
For purposes of this Lease, Lien shall mean any lien, mortgage, encumbrance, pledge, charge, lease, right or other security interest of any kind, including any thereof arising under any conditional sales or other title retention agreement.
In the event that any Lease Lien is not (or ceases to be) a Permitted Lease Lien, the Borrower shall notify the Administrative Agent in writing promptly following receipt by an Authorized Officer of the Borrower of notice thereof or an Authorized Officer of the Borrower having knowledge thereof.