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.

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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 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.

Examples of Second Lien in a sentence

The recitals contained in this Supplemental Indenture shall be taken as the statements of the Issuer, and the Trustee and the Second Lien Collateral Agent assume no responsibility for their correctness.
The Issuer shall notify the Trustee and Second Lien Collateral Agent in writing (which may be by email) upon the Proposed Amendments and Collateral Amendments becoming operative.
All agreements of the Trustee or the Second Lien Collateral Agent in this Supplemental Indenture shall bind its successors.
The Trustee and Second Lien Collateral Agent are expressly authorized and directed to execute, deliver and/or authorize the filing of such documents and instruments as reasonably requested by the Issuer to give effect to the Collateral Release.
The Issuer agrees to assume all risks arising out of the use of digital signatures and electronic methods to submit communications to the Trustee or the Second Lien Collateral Agent, including, without limitation, the risk of the Trustee or the Second Lien Collateral Agent acting on unauthorized instruction and the risk of interception and misuse by third parties.

More Definitions of Second Lien

Second Lien means any Lien created by the Second Lien Security Documents.

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 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 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 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 Liens granted by a Security Document to the Collateral Trustee for the benefit of the Second Lien Secured Parties, at any time, upon any property of the Issuer or any other grantor to secure Second Lien Obligations.