Second Liens definition

Second Liens means Liens created or purported to be created under the Second Lien Security Documents securing any Second Lien Secured Obligations.

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Second Liens means Liens on the Collateral that are (or would have been, to the extent Second Lien Notes do not exist at such time) equal and ratable with the Liens securing the Second Lien Notes (and other obligations that are secured equally and ratably with the Second Lien Notes).

Second Liens means the Liens on the Collateral granted by the Company and the Guarantors to the applicable Collateral Agent (if applicable, also acting in the name of the Holders and other Secured Parties) to secure the payment and performance of all or any Security Agreement Obligations, and all replacements, renewals and other modifications of such Liens.

Examples of Second Liens in a sentence

• All Second Liens and Third Liens will remain attached to and enforceable against all proceeds so held or remitted, subject to the priorities set forth in this Agreement.

• All Second Liens will remain attached to and enforceable against all proceeds so held or remitted, subject to the priorities set forth in this Agreement.

• Notwithstanding the foregoing, subject to Section 3.05, the Third Lien Collateral Trustee may, but will have no obligation to, on behalf of the Third Lien Secured Parties, take all such actions (not adverse to the Second Liens or the rights of the Second Lien Collateral Trustee and the Second Lien Secured Parties) it deems necessary to perfect or continue the perfection of the Third Liens in the Collateral or to create, preserve or protect (but not enforce) the Third Liens in the Collateral.

• In furtherance of the foregoing, the parties hereto agree, subject to the other provisions of this Agreement, that the Security Documents creating or evidencing the First Liens, the Second Liens and the Third Liens, will be in all material respects the same forms of documents other than as is necessary or appropriate to reflect the first lien, second lien and third lien nature of the Obligations thereunder.

• Notwithstanding the foregoing, subject to Section 3.05, the Second Lien Collateral Agent, on behalf of the Second Lien Secured Parties, may, but will have no obligation to, take all such actions (not adverse to the Priority Liens or the rights of the Priority Lien Agent and the Priority Lien Secured Parties) it deems necessary to perfect or continue the perfection of the Second Liens in the Collateral or to create, preserve or protect (but not enforce) the Second Liens in the Collateral.

More Definitions of Second Liens

Second Liens means (i) the second and junior liens and security interests granted in the Collateral in favor of the Second Lien Agent on behalf of the Second Lien Secured Parties, as security for the payment and performance of the Second Lien Obligations and (ii) the second and junior liens and security interests granted in the Collateral in favor of the Collateral Agent on behalf of the Second Lien Secured Parties, as security for the payment and performance of the Second Lien Obligations.

Second Liens means Liens on the Collateral that are equal and ratable with the Liens securing the Obligations (and other obligations that are secured equally and ratably with the Obligations).

Second Liens means the Liens securing the Second Lien Obligations.

Second Liens means all Liens in favor of the Second Lien Agent, for the benefit of the Second Secured Creditors, on any Assets, whether such Liens are now in existence or arise hereafter, up to the amount of the permitted Second Secured Obligations.

Second Liens means the Liens on Common Collateral securing the Term Loan Obligations.

Second Liens. The Mortgage Pool" and "Pooling and Servicing Agreement -- The Mortgage Loan Seller and Master Servicer," contained an untrue statement of material fact or omitted to state a material fact necessary in order to make the statements made therein, in light of the circumstances under which they were made, not misleading. The opinions above are subject to the following additional assumptions, exceptions, qualifications and limitations:

Second Liens. The Mortgage Pool" and "Pooling and Servicing Agreement -- The Mortgage Loan Seller and Master Servicer," is true and accurate in all material respects and does not contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein, in light of the circumstances under which they were made, not misleading.