Pari Passu Lien definition

Pari Passu Lien means a Lien granted to the Pari Passu Collateral Agent (or any other holder, or representative of holders, of Pari Passu Indebtedness), at any time, upon any assets of the Company or any Guarantor to secure the Pari Passu Obligations.

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Pari Passu Lien means any Lien on Collateral securing the Securities, a Subsidiary Guarantee or any Other Pari Passu Lien Obligation that ranks immediately junior in priority (subject to Permitted Collateral Liens) to the Liens on such Collateral securing any Priority Lien Obligations.

Pari Passu Lien means a Lien granted, or purported to be granted, by a Pari Passu Lien Security Document to the Collateral Agent, at any time, upon any property of the Issuer or any other Grantor to secure Pari Passu Lien Obligations.

Examples of Pari Passu Lien in a sentence

Unless otherwise expressly provided herein, references to agreements and other contractual instruments, including this Agreement and the other Pari Passu Lien Documents, shall be deemed to include all subsequent amendments thereto, restatements and substitutions thereof and other modifications and supplements thereto which are in effect from time to time, but only to the extent such amendments and other modifications are not prohibited by the terms of any Pari Passu Lien Documents.
All of the rights and remedies of the Collateral Trustee and any Secured Party under any Pari Passu Lien Document shall be cumulative, may be exercised individually or concurrently and are not exclusive of any other rights or remedies provided by any Requirement of Law.
All proceeds being held by the Collateral Trustee in a Cash Collateral Account (or by such Grantor in trust for the Collateral Trustee) shall continue to be held as collateral security for the Pari Passu Lien Obligations and shall not constitute payment thereof until applied as provided in the Notes Indenture.
Except as provided in Article VI, such Grantor shall be entitled to exercise all voting, consent and corporate, partnership, limited liability company and similar rights with respect to the Pledged Collateral; provided, however, that no vote shall be cast, consent given or right exercised or other action taken by such Grantor that would result in any violation of any provision of any Pari Passu Lien Document.
If any Pari Passu Lien Obligation is not paid when due, or upon any Event of Default, the Collateral Trustee may, at its sole election, proceed directly and at once, without notice, against any Grantor and any Collateral to collect and recover the full amount of any Pari Passu Lien Obligation then due, without first proceeding against any other Grantor or any other Collateral and without first joining any other Grantor or in any proceeding.

More Definitions of Pari Passu Lien

Pari Passu Lien means any Lien on the Common Collateral.

Pari Passu Lien means a Lien granted (a) by a 2003 Collateral Document to the 2003 Credit Agent or (b) by a 2009 Collateral Document to the 2009 Credit Agent.

Pari Passu Lien means a Lien securing Indebtedness on a pari passu basis with the Notes pursuant to a Pari Passu Intercreditor Agreement.

Pari Passu Lien means any Lien on Collateral securing the Junior Lien Notes, a Guarantee related thereto, or any Other Pari Passu Lien Obligation that ranks immediately junior in priority (subject to Permitted Collateral Liens) to the Liens on such Collateral securing any Priority Lien Obligations.

Pari Passu Lien means a Lien securing Other Pari Passu Debt and subject to the collateral sharing arrangements contained in Article 9 hereof.

Pari Passu Lien means an equal and ratable Lien that secures the Notes granted pursuant to documentation reasonably acceptable to the Required Holders in substance and in form, including an intercreditor agreement and opinions of counsel to the Issuer and/or any such Subsidiary, as the case may be, from counsel that is reasonably acceptable to the Required Holders.

Pari Passu Lien means, with respect to any Collateral, the Lien therein created to secure the repayment of the Existing Senior Notes.