Permitted Collateral Liens definition

Permitted Collateral Liens means (a) in the case of Collateral other than Mortgaged Property, the Liens permitted under Section 6.01 and (b) in the case of Mortgaged Property, “Permitted Collateral Liens” shall mean the Liens described in clauses (a), (c), (d), (g), (h), (o), (p) and (u) of Section 6.01.

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Permitted Collateral Liens means any “Permitted Liens” other than Liens specified in clauses (2), (3), (4), (5), (14) or (18) of the definition of “Permitted Liens.”

Permitted Collateral Liens means (A) Liens on the Collateral described in one or more of clauses (2), (3), (4), (5), (6), (8), (9), (10), (11), (12), (13), (14), (18), (19), (20), (21), (22), (23) and (25) of the definition of “Permitted Liens”, (B) Liens on the Collateral to secure Indebtedness of the Company or a Restricted Subsidiary that is permitted to be Incurred under Section 4.09(b)(1), 4.09(b)(2) (in the case of Section 4.09(b)(2), to the extent such Guarantee is in respect of Indebtedness otherwise permitted to be secured and specified in this definition of “Permitted Collateral Liens”), 4.09(b)(4)(A) and 4.09(b)(4)(C) (if the original Indebtedness was so secured), 4.09(b)(6) or 4.09(b)(11); provided, however, that any such Lien ranks equal to (including with respect to the application of proceeds from any realization or enforcement of the Collateral in accordance with the Intercreditor Agreement) all other Liens on such Collateral securing the Notes and the Note Guarantees (except that a Lien in favor of Indebtedness incurred under Section 4.09(b)(1) and a Lien in favor of Priority Hedging Obligations may have super priority in respect of the application of proceeds from any realization or enforcement of the Collateral on terms not materially less favorable to the Holders than that accorded to the Senior Facilities Agreement on the Issue Date as provided in the Intercreditor Agreement as in effect on the Issue Date), (C) Liens on the Collateral securing Indebtedness incurred under Section 4.09(a); provided that, in the case of this clause (C), (x) after giving effect to such incurrence on that date, the LTV Ratio is less than 0.725 and (y) any such Lien ranks equal to (including with respect to the application of proceeds from any realization or enforcement of the Collateral in accordance with the Intercreditor Agreement) all other Liens on such Collateral securing the Notes and the Note Guarantees, (D) Liens on the Collateral securing Indebtedness incurred under clause 4.09(b)(5)(ii); provided that, in the case of this clause (D), after giving pro forma effect to the relevant acquisition and the Incurrence of such Indebtedness pursuant to such clause (5)(ii), the LTV ratio would not be worse than it was immediately prior to giving pro forma effect to the relevant acquisition and the Incurrence of such Indebtedness, or (E) Liens on Collateral securing Refinancing Indebtedness in respect of any Indebtedness secured pursuant to the foregoing clauses (A), (B), (C) and (D); p...

Examples of Permitted Collateral Liens in a sentence

• Such Grantor will not authorize the filing of any financing statement naming it as debtor covering all or any portion of the Collateral owned by it, except for financing statements (i) naming the Collateral Agent on behalf of the Secured Parties as the secured party, and (ii) in respect of Permitted Liens and Permitted Collateral Liens.

• Such Grantor also agrees to take any and all actions necessary to defend title to the Collateral against all persons and to defend the security interest of the Collateral Agent in its Collateral and the priority thereof against any Lien (other than Permitted Liens and Permitted Collateral Liens).

• As of the Determination Date, upon the taking of such actions, the Collateral Agent will have a fully perfected first priority security interest in the Collateral listed on Exhibit C, subject only to Permitted Liens and Permitted Collateral Liens.

• Such Grantor shall promptly notify the Collateral Agent of any Commercial Tort Claim for which such Grantor has filed complaint(s) in court(s) of competent jurisdiction and, upon the Collateral Agent’s reasonable request therefor, such Grantor shall enter into an Amendment, granting to the Collateral Agent a first priority security interest in such Commercial Tort Claim (subject to Permitted Liens and Permitted Collateral Liens).

• Such Grantor has good and valid rights in or the power to transfer the Collateral and title to the Collateral with respect to which it has purported to grant a security interest hereunder, free and clear of all Liens except for Permitted Liens or Permitted Collateral Liens, as applicable, and has the corporate or other organizational power and authority to grant to the Collateral Agent the security interest in the Collateral pursuant hereto.

More Definitions of Permitted Collateral Liens

Permitted Collateral Liens means the following types of Liens:

Permitted Collateral Liens means Liens described in clauses (1), (2), (5), (6), (7), (8), (9), (10), (11), (13), (18), (19), (20), (21), (22), (23) and (24) of the definition of “Permitted Liens” that, by operation of law, have priority over the Liens securing the Notes and the Subsidiary Guarantees.

Permitted Collateral Liens shall have the meaning assigned to such term in Section 4.6 hereof.

Permitted Collateral Liens means any Lien on the Collateral:

Permitted Collateral Liens means the Liens described in clauses (a), (c), (d), (g), (h), (o), (p) and (u) of Section 6.01.

Permitted Collateral Liens means (x) Liens permitted under clause (a) or (b) of the definition of Permitted Liens, (y) Liens granted pursuant to any of the Loan Documents and (z) Liens incurred under Section 5.02(a)(xvii); provided, in the case of clause (z), that pursuant to the Intercreditor Agreement such Liens on the ABL Priority Collateral are subordinated to the Liens on the ABL Priority Collateral created under the Collateral Documents.

Permitted Collateral Liens means the Liens described in clauses (a), (b), (c), (d), (e), (g), (k) and (n) of Section 6.02; provided, however, upon the Original Closing Date or upon the date of delivery of each additional Mortgage under Section 5.10, 5.11 or 5.13, Permitted Collateral Liens shall mean only those Liens set forth in Schedule B to the applicable Mortgage.