Senior Lien definition

Senior Lien means the Liens on the Senior Collateral in favor of the Senior Secured Parties under the Senior Collateral Documents.

Examples of Senior Lien in a sentence

Mortgage Lien Info Numeric – Integer 2 99 If Lien Position > 1 See Coding 1 = Fixed Rate 2 = ARM 3 = Hybrid 4 = Neg Am 99 = Unknown 21 Hybrid Period of Most Senior Lien (in months) For non-first mortgages where the associated first mortgage is a hybrid ARM, the number of months remaining in the initial fixed interest rate period for the hybrid first mortgage.

The Servicer shall advance the necessary funds to cure the default or reinstate the Senior Lien, if such advance is in the best interests of the Owners; provided, however, that no such additional advance need be made if such advance would be nonrecoverable from Liquidation Proceeds on the related Home Equity Loan.

This loan shall constitute a lien and charge upon the Net Revenue junior and subordinate to the lien and charge upon such Net Revenue of any Senior Lien Obligations.

BK Senior Lien Balance NUMBER(10,2) Current Principal Balance on First lien or Original Principal Balance BL Litigation in process VARCHAR2(7) Y=Active N=No active Any delinquent loan that is not able to be Foreclosed on or the REO is not marketable BM Loan Liquidated VARCHAR2 CH-Charge off SS-Short sale REO-REO VA-VA Refunding Type of liquidation within the last 30 days.

In the event of a default, ECOLOGY may, in its sole discretion, declare the principal of and interest on the loan immediately due and payable, subject to the prior lien and charge of any outstanding Senior Lien Obligation upon the Net Revenue.


More Definitions of Senior Lien

Senior Lien. With respect to any Second Mortgage Loan, the mortgage loan relating to the corresponding Property having a first priority lien; and with respect to any Third Mortgage Loan, the mortgage loans relating to the corresponding Property having first and second priority liens.
Senior Lien means a prior lien which has precedence as to the property under the lien over another lien or encumbrance.
Senior Lien. With respect to any Mortgage Loan that is a second priority lien, the mortgage loan or mortgage loans relating to the corresponding Mortgaged Property having priority senior to that of such Mortgage Loan.