Permitted Subordinate Liens definition
Permitted Subordinate Liens means Liens covering the Collateral held, respectively, by the landlords of the Premises and Bankers Trust Company, as agent for the Bank Group, which Liens are subordinate to the Liens covering the Collateral held by Lender pursuant to the respective Subordination Agreements.
Permitted Subordinate Liens means Liens granted to Cherokee Partners pursuant to that certain Pledge Agreement dated as of the date hereof, executed by Pledgor in favor of Cherokee Partners, as the same is in effect on the date hereof, so long as such Liens remain subordinate to the Liens of this Agreement in a manner satisfactory to Pledgee in its sole discretion. [NOTE: THIS DEFINITION AND ALL REFERENCED THERETO IN THIS AGREEMENT APPLY ONLY TO THE EQUITYHOLDERS PLEDGE AGREEMENT EXECUTED BY QUEST ENERGY SERVICE, INC., PRODUCERS SERVICE INCORPORATED, QUEST OIL & GAS CORPORATION, STP CHEROKEE, INC., J-W GAS GATHERING, L.L.C., AND PONDEROSA GAS PIPELINE COMPANY, INC.; ▇LL REFERENCES TO THIS DEFINITION WILL BE DELETED IN EQUITYHOLDERS PLEDGE AGREEMENTS EXECUTED BY OTHER ENTITIES]
Permitted Subordinate Liens means Liens granted to Cherokee Partners pursuant to that certain Pledge Agreement dated as of the date hereof, executed by Pledgor in favor of Cherokee Partners, as the same is in effect on the date hereof, so long as such Liens remain subordinate to the Liens of this Agreement in a manner satisfactory to Pledgee in its sole discretion.
More Definitions of Permitted Subordinate Liens
Permitted Subordinate Liens shall have the meaning defined in Section 4.4.