First Priority Lien definition

First Priority Lien means any Lien created by the First Priority Security Documents.

First Priority Lien means a Lien granted by the Borrower or any Guarantor under a Security Document to the Collateral Agent upon any assets or property of the Borrower or any Guarantor to secure First Priority Lien Obligations.

First Priority Lien means any Lien on any Type of Common Collateral securing any First Priority Obligation.

Examples of First Priority Lien in a sentence

• Such security interests are to be equal in priority to security interests granted for the benefit of holders of Second Priority Lien Obligations and junior in priority to security interests granted for the benefit of holders of Indebtedness that constitutes First Priority Lien Obligations.

• Promptly, upon acquisition thereof, Funding Recipient shall prominently affix a durable label or tag (as, for instance, an aluminum property tag) to each item of City-Funded Equipment stating as follows: Financed By The City of New York and Subject to a First Priority Lien in its Favor.

• Promptly, upon acquisition thereof, Funding Recipient shall prominently affix a durable label or tag (as, for instance, an aluminum property tag) to each City-Funded Vehicle stating as follows: Financed By The City of New York and Subject to a First Priority Lien in its Favor.

• The official languages are Creole and French.Haiti was the first independent na- tion in the Caribbean, and the first post-colonial independent black-led nation in the world.

• Preliminary diagnosis is based on the gross observations and circumstantial evidence.

More Definitions of First Priority Lien

First Priority Lien means all Liens that secure the First Priority Notes Obligations.

First Priority Lien means a first-priority Lien granted to the Collateral Trustee and the Lenders Collateral Trustee upon any Property of the Issuer or any Guarantor to secure First-Lien Indebtedness.

First Priority Lien means any Lien on any asset of any U.S. Loan Party that is granted under the Senior Secured Notes Security Documents and that, pursuant and subject to the provisions of the Intercreditor Agreement, is senior in priority to the Liens of the Agent on the U.S. Collateral.

First Priority Lien means any Lien on some or all of the Collateral that ranks or is intended to rank pari passu with the Liens on the Obligations, including any Lien that ranks pari passu by virtue of any Intercreditor Agreement or any other agreement or instrument; provided further that Liens that rank pari passu with the Liens on the Collateral securing the Obligations but secure Indebtedness that is junior to the Obligations with respect to the distributions of proceeds of enforcement of Collateral shall not be First-Priority Liens.

First Priority Lien means with respect to any Lien purported to be created in any Collateral pursuant to any Security Document, that such Lien is senior in priority to any other Lien to which such Collateral is subject, other than any Permitted Lien that is, pursuant to Applicable Law, senior to the Lien created pursuant to any Security Document.

First Priority Lien means a Lien to the extent it secures First Priority Debt.

First Priority Lien means, with respect to any Lien purported to be created in any Collateral pursuant to any Collateral Document, that (i) such Lien is perfected and has priority over any other Lien on such Collateral and (ii) such Lien is the only Lien (other than Liens permitted pursuant to Section 7.1) to which such Collateral is subject.