Priority Lien definition

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

Priority Lien has the meaning set forth in Section 5.1(c) hereof.

Priority Lien means a Lien granted by XxxxXxxxx or any other Grantor in favor of the Priority Lien Agent, at any time, upon any Property of XxxxXxxxx or such Grantor to secure Priority Lien Obligations (including Liens on such Collateral under the security documents associated with any Priority Substitute Credit Facility).

Examples of Priority Lien in a sentence

• 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.

• 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.

• Notice of all documents related to the removal of the First Priority Lien shall be promptly provided to: XXXXXXX X.

• Guarantors have agreed to guarantee the obligations of Company hereunder and to secure their respective Obligations by granting to Collateral Agent, for the benefit of Secured Parties, a First Priority Lien on substantially all of their respective assets, including a pledge of all of the Equity Interests of each of their respective Wholly-Owned Restricted Subsidiaries (including Company).

• This Agreement, including the subordination provisions hereof, will be reinstated if at any time any payment or distribution in respect of any of the Priority Lien Obligations is rescinded or must otherwise be returned in an Insolvency or Liquidation Proceeding or otherwise by any Priority Lien Secured Party or Priority Lien Representative or any representative of any such party (whether by demand, settlement, litigation or otherwise).

More Definitions of Priority Lien

Priority Lien has the meaning assigned to such term in the Intercreditor Agreement.

Priority Lien means a Lien granted by a Priority Lien Security Document to the Priority Lien Collateral Agent, at any time, upon any property of the Company or any other Guarantor to secure Priority Lien Obligations.

Priority Lien means a Lien, senior to the Second Liens and the Junior Liens as provided in any instrument that establishes a ranking of Lien priority, granted by the Company or any Subsidiary Guarantor in favor of the Priority Lien Agent at any time, upon any property of the Company or any Subsidiary Guarantor to secure Priority Lien Obligations.

Priority Lien means a Lien granted by a Security Document to the Collateral Trustee, at any time, upon any property of the Company or any other Pledgor to secure Priority Lien Obligations.

Priority Lien means a first priority Lien (subject in priority only to Permitted Prior Liens) granted in favor of the Collateral Trustee pursuant to a Note Security Document, at any time, upon any property of the Company or any other Grantor to secure Priority Lien Obligations.

Priority Lien means a Lien granted by the Company or any Subsidiary Guarantor in favor of the Priority Lien Agent at any time, upon any property of the Company or any Subsidiary Guarantor to secure Priority Lien Obligations.

Priority Lien means a Lien granted, or purported to be granted, by a Security Document to the Priority Collateral Trustee, at any time, upon any property of the Company, Pledgor or any Guarantor to secure Priority Lien Obligations.