Replacement Liens definition

Replacement Liens means, with respect to any Lien, any modification, replacement, renewal or extension of such Lien; provided that (i) such modification, replacement, renewal or extension of such Lien does not extend to any additional property other than (A) after-acquired property (to the extent such after-acquired property would have been subject to such Lien prior to such modification, replacement, renewal or extension) and (B) proceeds and products thereof, and (ii) any Indebtedness secured by such Liens is permitted by Section 6.01.

Replacement Liens with respect to any Lien, any modification, replacement, renewal or extension of such Lien; provided that (i) such modification, replacement, renewal or extension of such Lien does not extend to any additional property other than (A) after-acquired property (to the extent such after-acquired property would have been subject to such Lien prior to such modification, replacement, renewal or extension) and (B) proceeds and products thereof, and (ii) any Indebtedness secured by such Liens is permitted by Section 6.2.

Replacement Liens shall have the meaning set forth in the Approval Order.

Examples of Replacement Liens in a sentence

• The validity, enforceability, perfection and priority of the Replacement Liens shall not be subject to the equities of the case exception to § 552(b) of the Bankruptcy Code and shall not depend upon filing, recordation, or any other act required under applicable state or federal law, rule or regulation.

• Notwithstanding the expiration or termination of this Order, the terms and provisions of this Order with respect to the Replacement Liens, Security Interest, administrative claim and other adequate protection granted to Secured Creditor herein shall continue for the duration of this Chapter 11 Case, for the duration of this case under any other Chapter of the Bankruptcy Code to which it may be converted, and shall survive the dismissal of any such case.

• To the extent the Replacement Liens granted to Secured Creditor pursuant to this Order are insufficient to compensate Secured Creditor for any diminution in value of the Collateral, Secured Creditor shall be entitled to a super-priority administrative claim pursuant to 11 U.S.C. § 503(b) of the Bankruptcy Code, and Secured Creditor shall be entitled to the protections of and the priority set forth in 11 U.S.C. § 507(b).

• The Replacement Liens shall maintain the same priority, validity and enforceability as Secured Creditor’s liens on the initial Collateral and shall be recognized only to the extent of any diminution in the value of the Collateral resulting from the use of Cash Collateral pursuant to this Order.

• Notwithstanding anything to the contrary contained herein, the Wells Fargo Replacement Liens shall not attach to the Specified Vessel Collateral or the Avoidance Action Proceeds.

More Definitions of Replacement Liens

Replacement Liens means (a) with respect to the Pre-Petition BMO Credit Facilities, the replacement Liens granted to the Pre-Petition BMO Agent on all Collateral for and to the extent of the post-petition use of Pre-Petition BMO Collateral and proceeds thereof and for any post-petition diminution in value of Pre-Petition BMO Collateral, and (b) with respect to the Pre-Petition CoBank Credit Facilities, the replacement Liens granted to the Pre-Petition CoBank Agent on all Collateral for and to the extent of the post-petition use of Pre-Petition CoBank Collateral and proceeds thereof and for any post-petition diminution in value of Pre-Petition CoBank Collateral

Replacement Liens has the meaning set forth in Section 6.8.

Replacement Liens shall have the meaning assigned to such term in the Final Order.

Replacement Liens means SHL’s Liens in the Collateral granted pursuant to the Financing Order.

Replacement Liens as defined in the Interim Order or, following entry of the Final Order, the Final Order.

Replacement Liens shall have the meaning set forth in Section 9(b) of this Agreement.

Replacement Liens means First Priority Liens in the DIP Collateral granted to the Prepetition First Priority Lender pursuant to this Order, subject only to Postpetition Liens, Carveout, and Permitted Liens.