Primary Lien definition

Primary Lien means the first of any multiple liens recorded on a vehicle or mobile home record.
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Primary Lien as defined in Section 6.7(a)(2).
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Primary Lien has the meaning set forth in Section 6.03(a).
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Examples of Primary Lien in a sentence

  • Any Lien created for the benefit of the Holders of the Notes pursuant to the immediately preceding paragraph shall automatically and unconditionally be released and discharged upon the release and discharge of the Primary Lien, without any further action on the part of any Person.

  • Lessee shall pay to Lessor the sum of One Thousand Five Hundred Dollars ($1,500) as a fee for legal and administrative expenses related to creation of a Primary Lien or any assignment or request for consent to an assignment.

  • Such notices shall be accompanied by true copies of the Primary Lien or other correspondence or instruments pertaining to the notice.

  • On or after the relevant Contract Grant ------------------- Date, the Company shall have a legal, valid and perfected ownership interest in, and good and marketable title to, the Contract, which interest in and title to the Contract is free and clear of all liens (other than the Primary Lien).

  • Lessor acknowledges that ▇▇▇▇▇▇ has received notice of the creation of the Primary Lien, together with a true copy of the Primary Lien, in accordance with Section 17.12.2 of the Agreement.

  • Lessor hereby consents to the creation of a Primary Lien which meets all of the requirements of this Agreement.

  • Until the Project is completed, the Primary Lien shall cover no interests in any real property other than ▇▇▇▇▇▇'s interests in the Premises and the rents and profits under any permitted subleases.

  • Upon each Purchase pursuant to the Receivables Purchase Agreement, the Borrower shall be the lawful owner of, and have good title to, each Pledged Contract and all of the Collateral relating thereto, free and clear of any Liens (other than the Primary Lien and any Permitted Encumbrances).

  • The Borrower has not sold, assigned or pledged its interest in the related VOI or Lot to any Person other than the Collateral Agent, and the Borrower's right, title and interest therein is free of any Liens other than any of the Primary Lien or any Permitted Encumbrances.

  • The Seller has good and marketable title to such ----------- Contract free and clear of any Lien (other than the Primary Lien).


More Definitions of Primary Lien

Primary Lien has the meaning ascribed to such term in the Granting Clause of this Indenture.
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Primary Lien has the meaning assigned to such term in Section 7.01 hereof.
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Primary Lien means a lien arising out of coverage pursuant to a GHP, Part C Medicare Plan, or workers compensation plan. Primary Lien does not include a claim by Medicaid for medical services or expenses or a claim by a Medi-Gap or Part D Medicare Plan, the Veteran’s Administration, or Tricare.
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Related to Primary Lien

  • Underlying Mortgaged Property With respect to each Co-op Loan, the underlying real property owned by the related residential cooperative housing corporation.

  • Priority Lien means a Lien granted by a Security Document to the Collateral Trustee, at any time, upon any property of the Company or any other Pledgor to secure Priority Lien Obligations.

  • Second Priority Lien means the Liens on the Second Priority Collateral in favor of Second Priority Debt Parties under Second Priority Collateral Documents.

  • First Priority Lien means any Lien created by the First Priority Security Documents.

  • Additional Mortgaged Property shall have the meaning provided in Section 8.11(a).