Shared Lien definition

Shared Lien means the lien upon the Collateral (as defined in the Intercreditor Agreement) created by the Security Documents (as defined in the Intercreditor Agreement) in favor of the Creditor Parties (as defined in the Intercreditor Agreement).
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Shared Lien means a Lien granted by a Security Document to the Collateral Trustee, at any time, upon any property of the Company or any Guarantor to secure Shared Lien Obligations.
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Shared Lien. The lien upon the Collateral created by the Security Documents in favor of the Creditor Parties.
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Examples of Shared Lien in a sentence

  • No later than five days after the termination of the Offer Period (the “Purchase Date”), the Company will apply all Excess Proceeds (the “Offer Amount”) to the purchase of Notes and such other Shared Lien Debt (on a pro rata basis based on the principal amount of Notes and such other Shared Lien Debt surrendered, if applicable) or, if less than the Offer Amount has been tendered, all Notes and other Shared Lien Debt tendered in response to the Asset Sale Offer.

  • The Asset Sale Offer shall be made to all Holders and all holders of other Shared Lien Debt containing provisions similar to those set forth in this Indenture with respect to offers to purchase, prepay or redeem with the proceeds of sales of assets.

  • If the aggregate principal amount of Notes and other Shared Lien Debt tendered in (or required to be prepaid or redeemed in connection with) such Asset Sale Offer exceeds the amount of Excess Proceeds, the Company shall select the Notes and other Shared Lien Debt to be purchased on a pro rata basis, based on the amounts tendered or required to be prepaid or redeemed.

  • The foregoing provision is intended for the benefit of, and will be enforceable by, each present and future holder of Shared Lien Obligations, each present and future Shared Lien Representative and the Collateral Trustee, as holder of Shared Liens, in each case, as a third party beneficiary.

  • The offer price for the Notes and any other Shared Lien Debt in any Asset Sale Offer will be equal to 100% of the principal amount of the Notes and such other Shared Lien Debt purchased, plus accrued and unpaid interest, if any, on the Notes and any other Shared Lien Debt, to the date of purchase, prepayment or redemption, subject to the rights of Holders of Notes on the relevant record date to receive interest due on the relevant interest payment date, and will be payable in cash.

  • To the extent that the aggregate amount of Notes and other Shared Lien Debt tendered pursuant to an Asset Sale Offer is less than the Excess Proceeds, the Company (or such Restricted Subsidiary) may use those Excess Proceeds for any purpose not otherwise prohibited by the Indenture.

  • Certificates of insurance evidencing the existence of all insurance required to be maintained by the Parent Guarantor pursuant to Section 6.05(a) and the designation of the Shared Lien Collateral Agent as the loss payee or additional named insured thereunder.

  • No failure or delay on the part of the Collateral Trustee in the exercise of any power, right or privilege hereunder or under any other Shared Lien Document shall impair such power, right or privilege or be construed to be a waiver of any default or acquiescence therein, nor shall any single or partial exercise of any such power, right or privilege preclude other or further exercise thereof or of any other power, right or privilege.

  • To the extent that the aggregate amount of Notes and other Shared Lien Debt, if applicable, so validly tendered and not properly withdrawn pursuant to an Asset Disposition Offer is less than the Excess Proceeds, the Company may use any remaining Excess Proceeds for general corporate purposes, subject to the other covenants contained in the applicable Shared Lien Documents.

  • All future Shared Lien Obligations shall be pari passu in right of payment with the Notes, shall be guaranteed on a pari passu basis by each Guarantor and shall be secured equally and ratably with the Notes by Liens on the Shared Collateral granted under the Security Documents for as long as the Notes and the Guarantees are secured by the Shared Collateral, subject to this Indenture.

Related to Shared Lien

  • Shared Collateral means, at any time, Collateral in which the holders of two or more Series of First-Lien Obligations hold a valid and perfected security interest at such time. If more than two Series of First-Lien Obligations are outstanding at any time and the holders of less than all Series of First-Lien Obligations hold a valid and perfected security interest in any Collateral at such time, then such Collateral shall constitute Shared Collateral for those Series of First-Lien Obligations that hold a valid security interest in such Collateral at such time and shall not constitute Shared Collateral for any Series which does not have a valid and perfected security interest in such Collateral at such time.

  • Priority Lien means a Lien granted by a Security Document to the Collateral Trustee, at any time, upon any property of the Company or any other Pledgor to secure Priority Lien Obligations.

  • Senior Collateral Agent means Citicorp USA, Inc., in its capacity as Senior Collateral Agent under the Senior Collateral Documents, and its successors.

  • Senior Collateral means any “Collateral” as defined in any Credit Agreement Loan Document or any other Senior Debt Document or any other assets of the Company or any other Grantor with respect to which a Lien is granted or purported to be granted pursuant to a Senior Collateral Document as security for any Senior Obligations.

  • Valid lien means a lien that is effective against the holder of a judicial lien subsequently obtained by legal or equitable process or proceedings.