Subordinate Lien definition

Subordinate Lien. Instrument: Any mortgage, deed of trust, lien instrument, pledge, lien (statutory, constitutional or contractual), security interest, encumbrance or charge, conditional sale or other title retention agreement, covering all or any part of the Mortgaged Property executed and delivered by Borrower, the lien of which is subordinate and inferior to the lien of the Lien Instrument.
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Subordinate Lien means a lien on one or more categories of Revenues which is not a Senior Lien. "Subordinate Lien Obligations" means Revenue Obligations or Telecom Loan Obligations which only have
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Subordinate Lien shall have the meaning set forth in Section 8M. ----------------
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Examples of Subordinate Lien in a sentence

  • Creditor NameLien TypeMonthly PaymentLoan Amount/Amount to be DrawnCredit Limit(if applicable) First Lien Subordinate Lien$$$ First Lien Subordinate Lien$$$Does not apply NO YES 4c.

  • Such amounts were computed in compliance with the terms and conditions of the Notes and the Subordinate Lien Resolution.

  • SENIOR SUBORDINATE LIEN SALES TAX REVENUE COMMERCIAL PAPER NOTES PAYABLEIn January 2001, the Board approved the issuance of up to $650 million of Senior Subordinate Lien Sales Tax Revenue Commercial Paper Notes under the provisions of the Master Debt Resolution.

  • SENIOR SUBORDINATE LIEN SALES TAX REVENUE COMMERCIAL PAPER NOTES PAYABLEIn January 2001, the DART Board approved the issuance of up to $650 million of Senior Subordinate Lien Sales Tax Revenue Commercial Paper Notes under the provisions of the Master Debt Resolution.

  • The Notes were authenticated and delivered by us (or a predecessor Issuing and Paying Agent) pursuant to authority under the Subordinate Lien Resolution.

  • The undersigned is the Issuing and Paying Agent under the Issuing and Paying Agent Agreement dated as of August 1, 2015, as amended (the “Issuing and Paying Agent Agreement”), between the Issuing and Paying Agent and the Airport Commission of the City and County of San Francisco, and the Subordinate Lien Resolution and is acting as the agent for the holders of the Notes.

  • Does not apply Creditor Name Lien Type Monthly PaymentLoan Amount/ Amount to be DrawnCredit Limit(if applicable) First Lien Subordinate Lien $ $ $ First Lien Subordinate Lien $ $ $ 4c.

  • Junior Subordinate Lien Debt Service Fund - means the special trust fund so designated and established in Section 5.1 of the Master Debt Resolution.

  • The Master Debt Resolution establishes (1) the procedure for handling the Gross Sales Tax Revenues from the point of release of the revenues by the Comptroller to the Trustee to the point they are released by the Trustee to us;(2) the priorities of the liens that are created for the benefit of the Senior Lien Obligations, the Senior Subordinate Lien Obligations, and the Junior Subordinate Lien Obligations; and (3) the permissible investments thereof at our direction.

  • First Supplemental Debt Resolution - means the Supplemental Resolution approved by the Board authorizing the issuance and setting forth the terms of the Senior Subordinate Lien Obligations authorized by Section 3.3(a) of the Master Debt Resolution.


More Definitions of Subordinate Lien

Subordinate Lien means a lien on one or more categories of Revenues which is not a Senior Lien. "Subordinate Lien Obligations" means Revenue Obligations which only have a Subordinate Lien and
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Subordinate Lien means a subordinate lien on owner- occupied housing.
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Subordinate Lien means any Lien securing any Subordinated Debt. Subordinated Creditor agrees that each Subordinate Lien shall be second, junior and subordinate to the Liens securing the Senior Indebtedness and the Liens securing the Senior Indebtedness shall be first and prior to each Subordinate Lien. It is further agreed that the priorities specified in the preceding sentence are applicable irrespective of the time or order of attachment or perfection of Liens, the time or order of filing of Liens, the time or order of filing of financing statements, the time or order of obtaining control or possession, the giving or failure to give notice of the acquisition or expected acquisition of any purchase money Liens, the failure to perfect the Liens securing the Senior Indebtedness or the failure of the holder of the Senior Indebtedness to obtain control or possession of any collateral. Subordinated Creditor hereby agrees and confirms that (i) Subordinated Creditor shall have no independent right of foreclosure not fully subordinated pursuant to this Agreement, (ii) until the Senior Indebtedness is paid in full, Lender has no agreement is in existence whereby Lender may make advances to Debtor or create Senior Indebtedness and this Agreement is terminated by Debtor's receipt of a Lender Termination Notice, Subordinated Creditor's only rights and remedies are to receive net proceeds on foreclosure of collateral as provided in this Agreement and (iii) at the request of the holders of the Senior Indebtedness, Subordinated Creditor shall execute and deliver to the holders of the Senior Indebtedness, such termination statements and releases as such holders shall request to release the Subordinate Liens. Subordinated Creditor further agrees that so long as any of the Senior Indebtedness shall remain unpaid, Lender shall have any agreement in existence whereby Lender may make advances to Debtor or create any Senior Indebtedness and this Agreement is terminated by Debtor's receipt of a Lender Termination Notice, Subordinated Creditor will not take any action, judicial or otherwise, to repossess, dispose of, foreclose, realize upon, release or otherwise exercise any rights it may have with respect to any collateral securing the Subordinated Debt or otherwise enforce any Subordinate Lien, or any other rights or remedies in respect thereof. Subordinated Creditor further confirms and agrees that (a) Subordinated Creditor shall have no right to compel action by Lender or the holders of Seni...
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Subordinate Lien means any Lien securing the Subordinate Obligations.
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Subordinate Lien means any pledge, lien, security interest, encumbrance or charge of any kind on or in any Gross Revenues which is subordinate in priority and junior to the lien of the Indenture on or in such Gross Revenues.
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Related to Subordinate Lien

  • Subordinate Obligations means, collectively, the Subordinate Notes and any Other Subordinate Obligations.

  • Subordinate Note means each B Note.

  • Subordinate Lender means the person or entity named as such in the first paragraph of this Agreement and any other person or entity who becomes the legal holder of the Subordinate Note after the date of this Agreement.

  • Subordinate Debt means indebtedness secured hereby or by any Supplemental Indenture which is by its terms expressly subordinate and inferior hereto both in lien and right of payment.

  • Senior Creditor means a holder or holders of Senior Indebtedness and includes any representative or representatives, agent or agents or trustee or trustees of any such holder or holders;

  • Subordinate Companion Loan A Companion Loan that, to the extent provided in the related Loan Documents and/or the related Co-Lender Agreement, is generally subordinate in right of payment to the related Split Mortgage Loan. The only Subordinate Companion Loans related to the Trust as of the Closing Date are evidenced by the Notes identified in the Loan Combination Table under the column heading “Subordinate Companion Loan(s),” each of which Notes evidences a separate Subordinate Companion Loan.

  • Junior Creditor means any Defaulting Bank which has not (x) fully cured each and every default on its part under the Loan Documents and (y) unconditionally tendered to the Administrative Agent such Defaulting Bank’s Pro Rata Share of all costs, expenses and disbursements required to be paid or reimbursed pursuant to the terms of the Loan Documents.

  • Subordinate Notes means the B Notes and the C Notes, individually or collectively, as the context may require.

  • Subordinate Loan Documents means the Subordinate Note, the Subordinate Mortgage, and all other documents at any time evidencing, securing, guaranteeing, or otherwise delivered in connection with the Subordinate Indebtedness.

  • Second Lien With respect to each Mortgaged Property, the lien of the mortgage, deed of trust or other instrument securing a Mortgage Note which creates a second lien on the Mortgaged Property.

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

  • 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.

  • Subordinate Bonds means all Bonds but Senior Bonds.

  • Subordinate Indebtedness means all present and future indebtedness, obligations, and liabilities of Borrower to Subordinate Lender under or in connection with the Subordinate Loan or the Subordinate Loan Documents.

  • Senior Lender means each holder of a Senior Note.

  • Junior Lien means a Lien, junior to the Liens on the Collateral securing the Secured Obligations as provided in the Collateral Agency and Intercreditor Agreement, granted by the Company or any Guarantor in favor of holders of Junior Lien Debt (or any Junior Lien Representative in connection therewith), at any time, upon any property of the Company or any Guarantor to secure Junior Lien Obligations; provided such Lien is permitted to be incurred under this Indenture.

  • Junior means any person in receipt of less than the adult wage.

  • Subordinated as applied to Indebtedness, shall mean that the Indebtedness has been subordinated (by written terms or written agreement being, in either case, in form and substance satisfactory to Agent and the Required Banks) in favor of the prior payment in full of the Debt.

  • Subordinate Liquidation Amount For any Distribution Date and each Loan Group, the excess, if any, of the aggregate Liquidation Principal of Mortgage Loans related to that Loan Group which became Liquidated Mortgage Loans during the prior calendar month over the related Senior Liquidation Amount for that Distribution Date.

  • Subordinated Loan Agreement means a binding agreement with a Subordinated Debt Provider providing unsecured debt financing for the benefit of the Energy Complex and on terms and conditions that shall satisfy the requirements of the Financing Documents.

  • Subordinated Creditor means any creditor of Tenant which is a party to a Subordination Agreement in favor of Landlord.

  • Subordinated Claim means a Claim of the kind described in sections 726(a)(3) or 726(a)(4) of the Bankruptcy Code and/or Claims subordinated under sections 510(b) or 510(c) of the Bankruptcy Code.

  • Senior ABL Facility shall include any agreement (i) changing the maturity of any Indebtedness Incurred thereunder or contemplated thereby, (ii) adding Subsidiaries of the Company as additional borrowers or guarantors thereunder, (iii) increasing the amount of Indebtedness Incurred thereunder or available to be borrowed thereunder or (iv) otherwise altering the terms and conditions thereof.

  • Subordinated Loan has the meaning set forth in Section 1.2(a) of the Agreement.

  • Subordinate Net Funds Cap With respect to any Distribution Date, an amount equal to the weighted average of the Pool 1 Net Funds Cap and the Pool 2 Net Funds Cap, weighted on the basis of the Pool Subordinate Amount for each Mortgage Pool; provided, however, that on any Distribution Date after which the aggregate Class Principal Amount of the Senior Certificates relating to any Mortgage Pool has been reduced to zero, such weighting shall be on the basis of the Pool Balance of each Mortgage Pool.

  • Subordinated Loan Documents means at any time the agreements and other documents then governing the Subordinated Indebtedness.