Seller Lien definition

Seller Lien means any Lien of the Seller Creditors on the Seller Collateral securing the Seller Debt.

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Seller Lien has the meaning set forth in Section 5.4. ***

Seller Lien means those liens and encumbrances pursuant to (a) the Credit Agreement and/or (b) the Continuing Guaranty and the Open-End Mortgage, Security Agreement, Financing Statement and Assignment dated December 27, 2012 and provided by Seller pursuant to the Credit Agreement.

Examples of Seller Lien in a sentence

Seller Creditors may not take, or cause to be taken, any action for the purpose of making any Seller Lien, pari passu with or senior to the Senior Lien.
If such cure is not accomplished by the Closing Date, Buyer, as its sole and exclusive remedy, may either terminate this Agreement, in which case the Deposit shall be returned to Buyer, or waive such objection and complete the Closing subject to such exception, provided that if Seller refuses to remove a Seller Lien at Closing, Buyer shall have the right to instruct the Title Company, as escrow agent, to apply a portion of the Purchase Price sufficient to discharge such Seller Lien at Closing.
Notwithstanding, in the event that any contractor or Trade Contractor has not been paid in full at the time of Closing, then pursuant to Section 4.3 above, 150% (one hundred and fifty percent) of the claimed payment amount (or such higher amounts as is required by the Title Company) shall be included in the Seller Lien Escrow and deposited in accordance with the Seller Lien Escrow Agreement.
Seller shall indemnify, defend and hold harmless Buyer from and against any Lienable Claims any other liens that may be filed against the Property due to acts or omissions of Seller, and funds from the Seller Lien Escrow shall be made available to reimburse Buyer from any costs, losses, damages or expenses which Buyer suffers on account of Lienable Claims or any other liens that may be filed against the Property due to the acts or omissions of Seller.
In the event that the Title Company shall not deem the Seller Lien Escrow sufficient to remove any Seller Lien or other Lienable Claim at Closing, then the Title Company shall advise at Closing the sufficient amount needed to escrow in the Seller Lien Escrow and Seller shall deposit such amount with Escrow Agent at Closing.

More Definitions of Seller Lien

Seller Lien or "Seller Liens" shall have the meaning given to it in Section 3.6.

Seller Lien means the Lien in favor of Seller in connection with the Seller Loan.

Seller Lien means any Lien with respect to the Equipment or any part ----------- of the Equipment that results from (i) nonpayment by Seller of any Taxes imposed on it (except any Taxes in respect of which Buyer is obligated to indemnify Seller under this Agreement), (ii) claims against the Equipment or Seller not related to the transactions contemplated by this Agreement or arising out of the operation of the Equipment during the Interim Lease Term and for which Buyer is not obligated to indemnify Seller under this Agreement, or (iii) an affirmative action of Seller not (a) consented to by Buyer or (b) contemplated by this Agreement.

Seller Lien. With respect to any Second Mortgage Loan, the home equity loan relating to the corresponding Property having a first priority lien.

Seller Lien means any lien in or on any Asset securing indebtedness for borrowed money that was created by, through or under Seller or any Affiliate of Seller.

Seller Lien shall have the meaning set forth in Clause SC-20.

Seller Lien means: (A) any lien securing any mortgage financing entered into by Seller that encumbers all or any portion of the Land and Improvements (an “Existing Loan”); (B) any mechanics’ lien or materialmens’ lien arising from any work or materials ordered by or on behalf of Seller that encumbers the Property (“Seller Mechanics’ Liens”); and (C) any monetary judgment, tax lien or other monetary lien against Seller which also constitutes a lien against the Property (each, a “Third Party Lien”).