Senior Liens definition

Senior Liens means (a) with respect to the ABL Priority Collateral, all Liens securing the ABL Obligations and (b) with respect to the Term Loan Priority Collateral, all Liens securing the Term Loan Obligations.

Senior Liens means (a) in respect of the Revolving Facility First Lien Collateral, the Revolving Facility Liens on such Collateral, and (b) in respect of the Noteholder First Lien Collateral, the Noteholder Liens on such Collateral.

Senior Liens means all present and future security interests and liens, if any, directly or indirectly securing any Senior Debt.

Examples of Senior Liens in a sentence

• In connection with such foreclosure or other conversion, the Master Servicer shall exercise such of the rights and powers vested in it hereunder, and use the same degree of care and skill in their exercise or use, as prudent mortgage lenders would exercise or use under the circumstances in the conduct of their own affairs, including, but not limited to, advancing funds for the payment of taxes, amounts due with respect to Senior Liens, and insurance premiums.

• In connection with such foreclosure or other conversion, the Servicer shall exercise such of the rights and powers vested in it hereunder, and use the same degree of care and skill in its exercise or use as prudent mortgage lenders would exercise or use under the circumstances in the conduct of their own affairs, including, but not limited to, advancing funds for the payment of taxes, amounts due with respect to Senior Liens and insurance premiums.

• Subject to the Senior Liens, this Deed of Trust constitutes a valid and subsisting mortgage and deed of trust lien on the Real Property and the Fixtures and a valid, subsisting security interest in and to, and a valid assignment of, the Personalty and Leases, all in accordance with the terms hereof.

• This Deed of Trust shall be construed as a deed of trust on real property and it shall (subject to the Senior Liens) also constitute and serve as a “Security Agreement” on personal property within the meaning of, and shall constitute a security interest under, the Uniform Commercial Code (as the same is codified and in effect in New Mexico) with respect to the Personalty, Fixtures and Leases.

• The Security Documents collectively are effective to create in favor of the Lenders a legal, valid and enforceable security interest in all of the Borrower’s and the Guarantors’ assets, which security interests are first-priority except for Permitted Senior Liens.

More Definitions of Senior Liens

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

Senior Liens means the Liens on the Collateral granted by the Company or AII to secure the payment of any First Priority Lien Obligations, and all replacements, renewals and other modifications of such Liens.

Senior Liens means (a) with respect to the Revolving Priority Collateral or the Term Liens on the Revolving Priority Collateral, the Revolving Liens on such Collateral, and (b) with respect to the Term Priority Collateral or the Revolving Liens on the Term Priority Collateral, the Term Liens on such Collateral, and, in each case, any Liens incurred in connection with any Refinancing of Senior Obligations that are deemed to be Senior Liens under Section 5.5.

Senior Liens means the Liens on the Collateral in favor of the Equal Priority Secured Parties under the Equal Priority Security Documents.

Senior Liens means the Liens securing the Revolving Debt to the extent permitted by the Intercreditor Agreement.

Senior Liens means all Liens that secure the Senior Debt Obligations.

Senior Liens means, subject to the proviso set forth in Section 2.01(a), (a) with respect to the ABL Priority Collateral or the Term Liens on the ABL Priority Collateral, the ABL Liens on such Collateral, and (b) with respect to the Term Priority Collateral or the ABL Liens on the Term Priority Collateral, the Term Liens on such Collateral, and, in each case, any Liens incurred in connection with any Refinancing of Senior Obligations that are deemed to be Senior Liens under Section 5.05.