Senior Lien definition
Senior Lien means the Liens on the Senior Collateral in favor of the Senior Secured Parties under the Senior Collateral Documents.
Senior Lien. With respect to any Second Mortgage Loan, the home equity loan relating to the corresponding Property having a first priority 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.
Examples of Senior Lien in a sentence
Notwithstanding the foregoing, the Company shall not increase the principal amount of any Senior Lien Obligations secured by a Senior Lien on any Funded Property.
More Definitions of Senior Lien
Senior Lien means the Liens on the Collateral in favor of the First Lien Secured Parties under the First Lien Security Documents.
Senior Lien. With respect to any Junior Mortgage Loan, any liens on the related Mortgaged Property of higher priority.
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 Junior Mortgage Loan, the mortgage loan relating to the corresponding Property having a priority lien.
Senior Lien means the first security interest placed upon a property to secure payment of a debt or performance of an obligation before one or more junior liens;
Senior Lien means the liens on the Senior Collateral in favor of the Senior Bank Parties under the Senior Collateral Documents.
Senior Lien means, with respect to all or any portion of the Mortgaged Property, a Permitted Lien which is prior to the lien of this Indenture.