Second Lien definition
Second Lien. With respect to each Mortgaged Property, the lien of the mortgage, deed of trust or other instrument securing a Mortgage Note which creates a second lien on the Mortgaged Property.
Second Lien means a Lien granted by a Second Lien Document to the Second Lien Collateral Trustee, at any time, upon any Collateral by any Grantor to secure Second Lien Obligations (including Liens on such Collateral under the security documents associated with any Second Lien Substitute Facility).
Second Lien means any Lien created by the Second Lien Security Documents.
Examples of Second Lien in a sentence
All notices to the Senior Priority Secured Parties and the Second Priority Secured Parties permitted or required under this Agreement may be sent to each Senior Priority Representative or each Second Priority Representative, respectively, as provided in the Super Priority Credit Agreement, the Super Priority Notes Indenture, the Second Lien [__], the other relevant Senior Priority Debt Document or the other relevant Second Priority Debt Document, as applicable.
Capitalized terms used herein but not otherwise defined herein have the meanings set forth in the Super Priority Credit Agreement, Super Priority Notes Indenture and the Second Lien [__], as applicable.
More Definitions of Second Lien
Second Lien means a Lien, junior to the Priority Liens and senior to the Junior Liens as provided in any instrument that establishes a ranking of Lien priority, granted by the Company or any Subsidiary Guarantor in favor of holders of Second Lien Debt (or any representative or collateral trustee in connection therewith), at any time, upon any property of the Company or any Subsidiary Guarantor to secure Second Lien Obligations.
Second Lien means a second-priority perfected security interest in such Collateral, subject to the Intercreditor Agreement or the Arazi/Lancaster Collateral Agreement, as applicable.
Second Lien means with respect to each Mortgaged Property, the lien of the mortgage, deed of trust or other instrument securing a mortgage note which creates a second lien on the Mortgaged Property subject only to the related First Lien.
Second Lien means any Lien securing any Second Lien Obligation.
Second Lien a Lien granted by a Security Document to the Collateral Agent for the benefit of the Second Lien Secured Parties, at any time, upon any property of the Borrower or any other Grantor to secure Second Lien Obligations.
Second Lien means a Lien granted, or purported to be granted, by a Security Document to the Collateral Agent, at any time, upon any property of the Company or any other Grantor to secure Second Lien Obligations.
Second Lien means the liens in favor of the Trustee, on behalf of the Holders, on the Collateral granted under the Security Documents and subject to the terms of the Intercreditor Agreement, which the Company and the Trustee agree (subject to the proper filing of the financing statements and mortgages) will as of the Issue Date rank second in priority on the Collateral (except with respect to the Liens set forth on Annex A) and thereafter will rank (a) second in priority on the Collateral to the extent any Liens permitted under Section 4.11(b)(ii)(A) remain outstanding and (b) first in priority on the Collateral to the extent no Liens permitted under Section 4.11(b)(ii)(A) remain outstanding, in each case, except with respect to (x) the Liens set forth on Annex A, (y) the Liens described in clauses (iii) — (v) and (vii) — (viii) of the definition of “Permitted Liens” and (z) solely with respect to Collateral that is not set forth on Schedule I (or improvements or repairs to the Collateral set forth on Schedule I), the Liens described in clause (vi) of the definition of “Permitted Liens”).