Senior Priority Lien definition

Senior Priority Lien means a Lien granted (a) by an Original First Lien Collateral Document to the Original First Lien Agent or (b) by an Additional Collateral Document to any Additional Agent for the purpose of securing Senior Priority Obligations.

Senior Priority Lien means any Lien on Collateral in favor of the Senior-Priority Secured Parties that is senior in priority to the Lien on such Collateral in favor of the Junior-Priority Secured Parties pursuant to, and in accordance with, the Intercreditor Agreements.

Senior Priority Lien means a Lien granted by the Issuer or any Guarantor in favor of the Senior Priority Lien Collateral Agent at any time, upon any Property of the Issuer or any Guarantor to secure Senior Priority Lien Obligations (including Liens on such Collateral under the security documents associated with any Replacement Credit Facility).

Examples of Senior Priority Lien in a sentence

• If there is a conflict between the terms of the Senior Priority Lien Intercreditor Agreement or the Asset Backed Credit Facility Intercreditor Agreement, as the case may be, and this Indenture, the terms of the Senior Priority Lien Intercreditor Agreement or the Asset Backed Credit Facility Intercreditor Agreement, as the case may be, will control.

• The Liens on the Collateral securing the Secured Obligations are subordinated to the senior priority Liens on the Collateral securing the Senior Priority Lien Obligations, in the manner and to the extent provided in the Senior Priority Lien Intercreditor Agreement and the Asset Backed Credit Facility Intercreditor Agreement, if any.

• This Agreement, including the subordination provisions hereof, will be reinstated if at any time any payment or distribution in respect of any of the Senior Priority Lien Obligations is rescinded or must otherwise be returned in an Insolvency Proceeding or otherwise by any of the Senior Priority Secured Parties or any representative of any such party (whether by demand, settlement, litigation or otherwise).

• Baker Hughes acknowledges that the Allowed Senior Priority Lien Claim in the amount of $11,500 has been paid in full.

• The rights as between the RBL Agent on one hand, and the notes collateral agent under the 1.125L Indenture on the other, are governed by that certain Senior Priority Lien Intercreditor Agreement dated as of May 23, 2018, with RBL Claims being “First-Priority Lien Obligations” thereunder, and 1.125L Notes Claims being “Second-Priority Lien Obligations” thereunder.

More Definitions of Senior Priority Lien

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

Senior Priority Lien means any lien on the Collateral created by the Company that is senior to the lien granted to the Securityholders under the Security Agreement and that secures debt permitted under section 4.06(e) of this Indenture, including, but not limited to the liens created under the Secured Credit Facility and under the $130,000,000 Post-Petition Loan and Security Agreement, dated as of June 28, 2006, by and among Silicon Graphics, Inc., Silicon Graphics Federal, Inc., and Silicon Graphics World Trade Corporation, on the one hand, and Morgan Stanley Senior Funding, Inc., Wells Fargo Foothill, Inc., Quadrangle Master Funding Ltd., Watershed Technology Holdings, LLC, and Encore Fund, L.P., on the other hand.”

Senior Priority Lien means any lien on the Collateral created by the Company that this senior to the lien granted to Securityholders under the Security Agreement and that secures debt permitted under Section 4.06(e) of this Indenture, including, but not limited to the liens created under the Secured Credit Facility.

Senior Priority Lien means (x) with respect to the Second Priority Secured Parties, Permitted Prior Liens and First Priority Liens, (y) with respect to the Third Priority Secured Parties, Permitted Prior Liens, First Priority Liens and Second Priority Liens, and (z) with respect to the Other Junior Secured Parties, Permitted Prior Liens, First Priority Liens, Second Priority Liens and Third Priority Liens.

Senior Priority Lien means a Lien granted (a) by an Original Senior Lien Collateral Document to the Original Senior Lien Agent, [, (b) a [ ]

Senior Priority Lien means a Lien granted by the Borrower or any Guarantor in favor of the Senior Priority Lien Collateral Agent at any time, upon any Property of the Borrower or any Guarantor to secure Senior Priority Lien Obligations (including Liens on such Collateral under the security documents associated with any Replacement Credit Facility).

Senior Priority Lien means a Lien granted (a) by an Original Senior Lien Collateral Document to the Original Senior Lien Agent or (b) by an Additional Collateral Document to any Additional Agent for the purpose of securing Senior Priority Obligations.