Third Party Lien definition

Third Party Lien excludes Security (i) granted pursuant to any Finance Documents and (ii) the creation, incurrence or assumption of which is not prohibited by the terms of the 2012/2032 Indentures. The terms “Lien”, “Debt” and “Sale and Leaseback Transactions” are all as defined in the 2012/2032 Indentures.
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Third Party Lien means any interest in property or any interest or right in any contract securing an obligation owed to, or a claim by, a Person other than the owner of the property, whether such interest is based on the common law, statute or contract, and including but not limited to the lien or security interest arising from a mortgage, deed of trust, lease, claim or right of a mechanic or materialman supplying materials or labor, encumbrance, pledge, hypothecation, assignment, conditional sale, trust receipt, deposit arrangement, charge, encumbrance, statute or other security agreement or arrangement of any kind or nature whatsoever creating in favor of any creditor a right in respect of any particular asset that is prior to the right of any other creditor in respect of such asset.
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Examples of Third Party Lien in a sentence

  • If the aggregate principal amount of Notes or other Third Party Lien Obligations surrendered by such holders thereof exceeds the amount of Collateral Excess Proceeds, the Trustee shall select the Notes and such other Third Priority Lien Obligations to be purchased in the manner described below.

  • Within thirty (30) days of any default of the Third Party Loan or Third Party Lien, Third Party Lender must provide written notice (referencing SBA’s loan number for the 504 Loan) of the default to CDC and SBA.

  • Subject to the rights of Borrower and the terms and provisions of the Proposed Oil and Gas Agreements, Borrower shall not create or incur, or suffer to be created or incurred or to exist, any Third Party Lien or Title Lien (other than EIF Liens or Permitted Liens) upon any of the Collateral, whether now owned or hereafter acquired, or upon the proceeds, income or profits therefrom, and shall pay all vendor payables and other trade payables when due.

  • Notwithstanding anything to the contrary contained in this Agreement, to the extent that any Additional Lien or Third Party Lien arises or exists, Seller shall have the right and option to bond off such Additional Lien and/or Third-Party Lien and contest the same in lieu of paying off such liens, and Closing shall not be extended or postponed as a result, provided the Title Company agrees to insure title without exception for such Additional Lien and/or Third Party Lien.