Senior Priority Liens definition

Senior Priority Liens means all Liens that secure the Designated Senior Claims.
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Senior Priority Liens means all Liens that secure the Designated Senior Claims. “Subordinated Liens” means all Liens securing the Secured Obligations.
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Senior Priority Liens means the security interests granted by the Company to the Senior Agent pursuant to the Senior Loan Agreement and the other Loan Documents (as defined in the Senior Loan Agreement).
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Examples of Senior Priority Liens in a sentence

  • Until the Discharge of Senior Priority Obligations, to the extent that the Senior Priority Secured Parties (i) have released any Lien on Collateral and any such Lien is later reinstated or (ii) obtain any new Senior Priority Liens, then the Junior Priority Secured Parties shall at the time of such reinstatement or new Senior Priority Liens be granted a Junior Priority Lien on any such Collateral.

  • The Intercreditor Agreement defines the relative rights of holders of the Subordinated Liens and the holders of the Senior Priority Liens that will exist upon execution of the Intercreditor Agreement.

  • Evaluating the occupancy against the date when the facility first opened can offer an indication of demand, and potentially indicate shortcomings that have deterred others.

  • The Intercreditor Agreement defines the relative rights, as lienholders, of holders of Junior Priority Liens and holders of Senior Priority Liens.

  • The provisions of this Article 10 are intended solely to set forth the relative ranking, as Liens, of the Junior Priority Liens as against the Senior Priority Liens.

  • Section 4.10 Limitation on Transfers of Collateral.(a) The Note Guarantor shall not, and the Issuer shall not cause the Note Guarantor to, transfer any Collateral, unless the Liens on such transferred Collateral securing the Secured Obligations shall remain valid and perfected Liens securing such Secured Obligations, subject only to Permitted Liens, and junior in priority only to any Senior Priority Liens.

  • The applicable Junior Lien or Limited Secured Acquisition Debt Intercreditor Agreement defines the relative rights of holders of the Subordinated Liens and the holders of the Senior Priority Liens and holders of the liens securing Limited Secured Acquisition Debt that will exist upon execution of the applicable Junior Lien or Limited Secured Acquisition Debt Intercreditor Agreement.

  • Each of the Tranche A Administrative Agent and the Tranche A Collateral Agent, on its own behalf and on behalf of the Tranche A Lenders and the Adjusted Tranche A Lenders, irrevocably confirms and agrees that it will not directly or indirectly take any action to contest or challenge (a) the validity, legality, enforceability or perfection of any Fundamental Document or the Senior Priority Liens or (b) the priority of the Senior Priority Liens.

  • The Senior Priority Liens shall be and remain senior in right, priority, operation, effect and all other respects to any Prohibited Junior Lien for all purposes, whether or not any Senior Priority Liens are subordinated in any respect to any other Lien securing any other obligation of any Grantor or any other Person.

  • Pursuant to the provisions of the Security Agreement, the other Security Documents and this Indenture, the rights and remedies of the Trustee and the Holders of the Notes in the Collateral shall be subordinate and subject to the rights and remedies of the holders of the Senior Priority Liens in accordance with the terms of the Security Agreement and the other Security Documents.


More Definitions of Senior Priority Liens

Senior Priority Liens means the Liens on the Senior Priority Collateral in favor of Senior Priority Secured Parties under the Senior Priority Collateral Documents.
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Senior Priority Liens means all enforceable, valid, perfected, and unavoidable
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Senior Priority Liens means all Liens on the Collateral securing the Senior Obligations, whether created under the Senior Security Documents or acquired by possession, statute (including any judgment lien), operation of law, subrogation or otherwise.
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Senior Priority Liens shall have the meaning assigned such term in Section 4.02(c). -4-
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Senior Priority Liens means (a) with respect to ABL Priority Collateral, the ABL Liens and (b) with respect to Term Priority Collateral, the Term Liens.
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Related to Senior Priority Liens

  • Equal Priority Intercreditor Agreement means the Equal Priority Intercreditor Agreement substantially in the form of Exhibit G-1 among (x) the Collateral Agent and (y) one or more representatives of the holders of one or more classes of Permitted Additional Debt and/or Permitted Equal Priority Refinancing Debt, with any immaterial changes and material changes thereto in light of the prevailing market conditions, which material changes shall be posted to the Lenders not less than five Business Days before execution thereof and, if the Required Lenders shall not have objected to such changes within five Business Days after posting, then the Required Lenders shall be deemed to have agreed that the Administrative Agent’s and/or Collateral Agent’s entry into such intercreditor agreement (with such changes) is reasonable and to have consented to such intercreditor agreement (with such changes) and to the Administrative Agent’s and/or Collateral Agent’s execution thereof.

  • Junior Priority Obligations means the Original Second Lien Obligations and any Additional Obligations constituting Junior Priority Debt.