Open lien definition
Open lien means a lien that has not been or cannot be financed, and that requires payment in full.
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Related to Open lien
Notes Priority Collateral has the meaning set forth in the Intercreditor Agreement.
Second Priority Collateral means any “Collateral” as defined in any Second Priority 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 Second Priority Collateral Document as security for any Second Priority Debt Obligation.
ABL Priority Collateral has the meaning set forth in the Intercreditor Agreement.
Subject Lien shall have the meaning provided in Section 10.2(a).
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 Company 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.