Not exact matches
Usually, the
first - position
lien must be completely satisfied before the second - position
lien holder can receive any remaining
collateral.
Additional
collateral requirements:
First lien on accounts receivable and inventory.
Additional
collateral requirements:
First or second
lien on the subject property.
In the corporate finance arena, Patrick has significant experience representing borrowers, acquirers, issuers and lenders in a variety of syndicated, club and bilateral financing arrangements, including
first and second
lien structured facilities, investment grade financings, leveraged acquisition financings, mezzanine financings, and multicurrency and cross-border
collateral facilities.
Credit Suisse, Canadian counsel for the administrative and
collateral agent in connection with advice on loan agreements, Canadian security documents and title insurance matters surrounding a US$ 226.5 million
first lien credit agreement.
A
collateral assignment is a legal document familiar to all lenders and in effect is a
lien against the policy which guarantees insurance policy proceeds are
first payable to the «assignee», in this case the lender, with the balance of proceeds going to the named beneficiary of the policy.
This reversal of HUD policy is a victory for the National Association of REALTORS ® whose members sounded concern that PACE
liens would take a
first -
lien position over FHA in instances of default or foreclosure, undermining the government's
collateral position and disrupting the secured lending process.