Subordinated Lien definition

Subordinated Lien means a Lien granted by a Security Document to the Collateral Trustee, at any time, upon any Collateral of the Company or any Guarantor to secure Subordinated Lien Obligations.

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Subordinated Lien means (i) any Lien for which the holder thereof has agreed, pursuant to a subordination agreement in form satisfactory to the Agent, that such Lien shall at all times be subordinated and postponed in favour of the Liens granted in favour of the Agent, or (ii) any Lien granted by an Obligor in respect of Affiliate Debt.

Subordinated Lien means any Lien created by the Subordinated Security Documents.

Examples of Subordinated Lien in a sentence

The Grantors acknowledge and agree that, to the extent permitted by applicable law, the value of any payments or distributions in cash, property or other assets received by the Subordinated Lien Claimholders that are paid over to the Prior Lien Claimholders pursuant to this Agreement shall not reduce any of the Subordinated Lien Obligations.
Each Prior Lien Agent with respect to any Collateral is hereby authorized by the Subordinated Lien Agents and the Subordinated Lien Claimholders with respect to such Collateral to make any such endorsements as agent for any Subordinated Lien Agent or any Subordinated Lien Claimholder.
Notwithstanding the foregoing provisions of this Section 8.5, none of the Subordinated Lien Claimholders shall have any claim against any of the Prior Lien Claimholders for any impairment of any subrogation rights herein granted to the Subordinated Lien Claimholders.
Each Subordinated Lien Agent, on behalf of the applicable Subordinated Lien Claimholders, hereby irrevocably, absolutely, and unconditionally waives any and all rights or powers any Subordinated Lien Claimholder may have at any time under applicable law or otherwise to have its Subordinated Lien Collateral, or any part thereof, marshaled upon any foreclosure or other enforcement of such Subordinated Lien Agent’s Liens.
No Subordinated Lien Claimholder shall oppose or seek to challenge any claim by any Prior Lien Agent or any Prior Lien Claimholder for allowance in any Insolvency or Liquidation Proceeding of Prior Lien Obligations consisting of post-petition interest, fees or expenses to the extent of the value of the Lien on such Prior Lien Claimholder’s Prior Lien Collateral, without regard to the existence of the Subordinated Lien Obligations with respect to such Collateral.

More Definitions of Subordinated Lien

Subordinated Lien means a Lien granted by a Security Document to the Noteholder Collateral Trustee, at any time, on a junior and subordinated basis, upon any Collateral of either of the Issuers or any other Grantor to secure Subordinated Lien Obligations.

Subordinated Lien means a Lien granted by a Secured Document to the trustee, agent or other representative (so long as such trustee, agent or other representative is or becomes a party to the Collateral Trust Agreement), at any time, on a junior and subordinated basis, upon any Collateral of either MRC Global or any other Grantor to secure Subordinated Lien Obligations.

Subordinated Lien means a Lien granted by a Secured Debt Document to the trustee, agent or other representative at any time, on a junior priority basis, upon any Collateral of either Company or any other Grantor to secure Subordinated Lien Obligations.

Subordinated Lien a Lien on Subordinated Debt Collateral granted by any Subordinated Debt Document to, or acquired or held by, the Subordinated Creditor, at any time, upon any Subordinated Debt Collateral that is also Senior Debt Collateral of any Obligor to secure the Subordinated Debt.

Subordinated Lien means the Lien secured by the Security Agreement (“Security Agreement”) dated as of January 31, 2003 between the Debtor and the Subordinated Creditor securing the repayment of all or any portion of the Subordinated Debt.

Subordinated Lien. A Lien approved in writing by the Lender, and which secures any Subordinated Debt.

Subordinated Lien means the subordinate lien granted by Parent to Subordinated Lender in certain assets of the Parent pursuant to that certain Security Agreement, dated May 14, 2009, among Parent, Bank and Subordinated Lender, subject to the terms and conditions of the Subordination Agreement.