Subordinated Liens definition

Subordinated Liens has the meaning given to it in Section 8.6(a).

Subordinated Liens the Liens in the Collateral granted by Issuer to Fleet National Bank as trustee under the Subordinated Credit Instruments. Subordination Agreement (Junior): a subordination agreement among Trustee, Issuer, and the trustee of the Junior Subordinated Debenture Indenture. Subordination Agreement (Senior): a subordination agreement among Trustee, Issuer, the trustee of the Junior Subordinated Debenture Indenture and the Senior Creditors.

Subordinated Liens means all Liens securing the Secured Obligations.

Examples of Subordinated Liens in a sentence

• All promissory notes, ledgers, and other evidences of the Subordinated Debt, and all mortgages, deed of trusts, security agreements, assignments, and other security documents, if any, at any time evidencing the Subordinated Liens, shall contain a specific written notice that the indebtedness and Liens evidenced thereby are subordinated as provided in this paragraph.

• The Intercreditor Agreement defines the relative rights of holders of the Subordinated Liens and the holders of the Senior Priority Liens that will exist upon execution of the Intercreditor Agreement.

• Notwithstanding anything to the contrary contained herein, in the Notes or in any Security Documents, upon execution of the Intercreditor Agreement, any Subordinated Liens securing the Secured Obligations, and the exercise of any right or remedy with respect thereto, will be subject to the provisions of the Intercreditor Agreement.

• All Liens (if any) securing payment of all or any part of the Subordinated Debt (the "Subordinated Liens") shall be and remain inferior and subordinate to the Liens securing payment of all or any part of the Guaranteed Obligations, regardless of whether such Subordinated Liens presently exist or are hereafter created or when such Subordinated Liens were created, perfected, filed or recorded.

• Subject to Permitted Liens and Subordinated Liens, Debtor is the lawful owner of and has good and marketable title to the Collateral free and clear of all Liens.

More Definitions of Subordinated Liens

Subordinated Liens means all present and future security interests and liens, if any, directly or indirectly securing any Subordinated Debt.

Subordinated Liens means the Liens listed in Exhibit B hereto.

Subordinated Liens means the Lenders’ Liens.

Subordinated Liens means any Lien created by the Subordinated Debt Documents. “Subordinated Payment Default” means (i) a default in the payment when due (whether by lapse of time, acceleration, or otherwise) of all or any portion of the Subordinated Debt consisting of principal, interest or any scheduled fee, or (ii) an Event of Default (as defined in the Second Lien Credit Agreement) resulting from the failure to pay any other amounts due and owing under the Subordinated Debt Documents.

Subordinated Liens means the Liens arising pursuant to the Subordinated Security Agreement and expressly made subordinate to the Liens of the Bank in and to the Collateral pursuant to the Subordination Agreement.

Subordinated Liens means all Liens in favor of Subordinated Lender that secure Subordinated Debt which are permitted under and covered by the Subordination Agreement.

Subordinated Liens shall have the meaning assigned to such term in Section 4.3 hereof.