Senior Lien definition

Senior Lien means the Liens on the Senior Collateral in favor of the Senior Secured Parties under the Senior Collateral Documents.

Senior Lien. With respect to any Second Mortgage Loan, the home equity loan relating to the corresponding Property having a first priority lien.

Senior Lien means the Liens on the Collateral in favor of the First Lien Secured Parties under the First Lien Security Documents.

Examples of Senior Lien in a sentence

• Upon the demand of Senior Lender from time to time, Xxxxxx Xxxxxx shall further execute whatever instruments and/or documents are reasonably required by Senior Lender in order to evidence that the Junior Lien is subject and subordinate to the lien, terms, covenants, and conditions of the Senior Lien.

• No amendment, waiver, or consent shall, without the prior written consent of Senior Lender: (i) subordinate or have the effect of subordinating any Obligations to any other indebtedness or obligations of any other party; or (ii) subordinate or have the effect of subordinating the Senior Lien to any other lien or encumbrance related to any other indebtedness or obligations of any other party.

• The Senior Lien and any and all extensions, renewals, modifications, or replacements of the Senior Lien shall be and at all times remain a lien or charge on the Real Property prior and superior to the Junior Liens.

• This Agreement contains the whole and only agreement between the parties with regard to the subordination of the Junior Lien to the Senior Lien and shall supersede and cancel any prior agreements as to such, or any, subordination.

• Junior Lender intentionally and unconditionally waives, relinquishes, and subordinates the priority and superiority of the Junior Lien to the Senior Lien.

More Definitions of Senior Lien

Senior Lien. With respect to any Junior Mortgage Loan, any liens on the related Mortgaged Property of higher priority.

Senior Lien means the Liens on the Senior Priority Collateral in favor of the Senior Priority Secured Parties under the Senior Priority Collateral Documents.

Senior Lien. With respect to any Second Lien Loan, the mortgage loan having a senior priority lien on the related Mortgaged Property.

Senior Lien means a prior lien which has precedence as to the property under the lien over another lien or encumbrance.

Senior Lien. With respect to any Second Mortgage Loan, the mortgage loan relating to the corresponding Property having a first priority lien; and with respect to any Third Mortgage Loan, the mortgage loans relating to the corresponding Property having first and second priority liens.

Senior Lien means the Liens created in favor of the Senior Lender pursuant to the Senior Debt Documents on the Senior Collateral.

Senior Lien. With respect to any Junior Mortgage Loan, the mortgage loan relating to the corresponding Property having a priority lien.