Priority Lien means a Lien granted by a Security Document to the Collateral Trustee upon any property of the Company or any other Obligor to secure Priority Lien Obligations not exceeding the Priority Lien Cap.
Priority Lien has the meaning set forth in Section 5.1(c) hereof.
Priority Lien means a Lien granted by W&T or any Grantor in favor of the Priority Lien Agent, at any time, upon any Property of W&T 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
The Security Documents, when executed and delivered pursuant to the terms of the Indenture, will create, in favor of the Trustee and the Collateral Trustee for the benefit of the holders of the New Bonds, valid and enforceable security interests in and liens on the Collateral (as defined in the Indenture) on a basis that is junior in priority solely to the Priority Lien Secured Obligations (as defined in the Indenture).
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 granted by the Parent Guarantor, the Issuer or any Subsidiary Guarantor in favor of the Priority Lien Agent at any time, upon any property of 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 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.