Lien creditor definition

Lien creditor means 1 or more of the following:

Lien creditor. , with respect to a vessel, means:

Lien creditor means any of the following:

Examples of Lien creditor in a sentence

• In the event that any Subordinated Claimholder becomes a judgment Lien creditor in respect of Collateral as a result of its enforcement of its rights as an unsecured creditor, to the extent permitted herein, with respect to the Subordinated Obligations, such judgment Lien shall be subject to the terms of this Agreement for all purposes (including in relation to the Senior Obligations) as the other Liens securing the Subordinated Obligations are subject to this Agreement.

• In the event that any Second Lien Secured Party becomes a judgment Lien creditor in respect of Collateral as a result of its enforcement of its rights as an unsecured creditor, such judgment Lien shall be subject to the terms of this Agreement for all purposes (including in relation to the First Liens and the First Lien Obligations) to the same extent as all other Liens, securing the Second Lien Obligations (created pursuant to the Second Lien Security Documents) subject to this Agreement.

• In the event that any Second Lien Claimholder becomes a judgment Lien creditor as a result of its enforcement of its rights as an unsecured creditor, such judgment Lien shall be subject to the terms of this Agreement for all purposes to the same extent as all other Liens securing the Second Lien Obligations subject to this Agreement.

• This step can in certain respects be compared to the legal procedure for obtaining the so-called “fast track” negotiating authority in the United States.

• In the event that any Second Lien Secured Party becomes a judgment Lien creditor as a result of its enforcement of its rights as an unsecured creditor, such judgment Lien shall be subject to the terms of this Agreement for all purposes to the same extent as all other Liens securing the Second Lien Obligations subject to this Agreement.

More Definitions of Lien creditor

Lien creditor means: (A) a creditor that has acquired a lien on the

Lien creditor with respect to a watercraft, means:

Lien creditor means a creditor having a lien on a motor vehicle and includes an assignee for benefit of creditors from the date of assign- ment, a trustee in a case under title 11 from the date of filing of the petition in that case, and a receiver in equity from the date of appointment of the receiver.

Lien creditor means: A. 9933 37

Lien creditor means any creditor who has acquired a specific lien on the goods, documents or instruments by attachment, levy, or by any other similar operation of law or judicial process, including a distraining landlord.

Lien creditor means �ny creditor who has acquired a specific lien on the· goods, documents or instruments by attachment, levy, or by any other similar operation of law or judicial process, in­ cludi�1g a <listraining landlord.

Lien creditor means a creditor that has acquired a lien on the property involved by attachment, levy, or the like. 9-102(a)(52)(A). “Lien creditor” also means an assignee for the benefit of creditors from the time of assignment, a trustee in bankruptcy from the date of the filing of the petition, or a receiver in equity from the time of appointment. 9-102(a)(52)(B)-(D). This is a very important rule. Since a trustee in bankruptcy is a lien creditor under 9-102(a)(52)(C), this provision allows a bankruptcy trustee to avoid an unperfected security interest. In some circumstances, 9-317(a)(2) allows for something called “squeezing out” an intervening lien--i.e., making a future advance on a secured loan after the debtor has become subject to a lien. The secured party holds priority over the lien creditor, but secured parties are unlikely to make such advances due to credit risk. 9-323(b) (below) limits the ability of secured parties to make such squeeze outs. Conflict with a Future Advance A security interest in a future advance has priority over a lien creditor if (i) the advance is made or committed within 45 days after the lien arises, even if made with the knowledge of the lien; or (ii) if the advance is made or committed after the 45 day period, so long as the secured party is without knowledge of the lien at the time of the advance or commitment. 9-323(b). This is not a very significant rule. *Sales and Other Transfers of Collateral General Rule: The Continuation Rule A security interest continues in collateral notwithstanding the disposition of the collateral except (i) when the secured party authorized the disposition free of the security interest or (ii) 2-403(2) or another Article 9 provision operates to allow that transferee to take the collateral free of the security interest. 9-315(a)(1).