Sponsor Lien definition

Sponsor Lien means the Lien on the Merchant Receivables securing the Sponsor Facility Obligations.
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Sponsor Lien means the Lien on the Merchant Receivables securing the Sponsor Facility Obligations. “Sponsor Loan Documents” shall mean the “Loan Documents”, as defined in the Sponsor Agreement, and as in effect on the date hereof. “Termination Date” means the earliest to occur of (i) July 20, 2013 (as such date may be accelerated or extended by the Sponsor in its sole discretion), (ii) the date on which the Merchant Financial Services Agreement is terminated, (iii) the date on which Sponsor receives written notice of termination of the Sponsor Agreement from the Borrower, (iv) the date on which the Sponsor notifies the Borrower in writing that the Sponsor Agreement has been terminated and (v) the date that any Insolvency Proceeding is commenced with respect to any Credit Party. “Uniform Commercial Code” or “UCC” shall mean the Uniform Commercial Code (or any similar or equivalent legislation) as in effect from time to time in the State of New York.
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Examples of Sponsor Lien in a sentence

  • The Bank Group Administrative Agent, for itself and on behalf of the other Bank Group Secured Parties, agrees that it will not at any time contest by judicial proceeding the validity, perfection, priority or enforceability of the Sponsor Lien or the Sponsor Loan Documents or the enforceability of this Agreement.

Related to Sponsor Lien

  • Prior Lien means a pre-existing mortgage, deed of trust or other Lien encumbering the Mortgaged Property.

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

  • 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.

  • Subject Lien shall have the meaning provided in Section 10.2(a).

  • Junior Lien means a Lien, junior to the Priority Liens and the Parity Liens as provided in the Intercreditor Agreement, granted by the Company or any Subsidiary Guarantor in favor of holders of Junior Lien Debt (or any collateral trustee or representative in connection therewith), at any time, upon any property of the Company or any Subsidiary Guarantor to secure Junior Lien Obligations.