First Priority Definitions | Business Dictionary

First Priority. Means, with respect to any lien and security interest purported to be created in any Collateral pursuant to this Agreement, such lien and security interest is the most senior lien to which such Collateral is subject (subject only to liens permitted under the Loan Agreement).

Found in Nestbuilder.com Corp. contract

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First Priority. Means, with respect to any lien and security interest purported to be created in any Collateral pursuant to this Agreement, such lien and security interest is the most senior lien to which such Collateral is subject (subject only to liens permitted under the ~~Loan Agreement).~~ Note).

Found in SHARING SERVICES GLOBAL Corp contract

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First Priority. Means, with respect to any lien and security interest purported to be created in any Collateral pursuant to this Agreement, such lien and security interest is, excluding the liens held by the Pension Benefit Guaranty Corporation, which such liens are senior to the liens and security interest granted hereunder (the "Senior Liens"), the most senior lien to which such Collateral is subject.

Found in TRANS LUX Corp contract

First Priority. Means, with respect to any Lien purported to be created in any Collateral pursuant to this Agreement, such Lien is the most senior Lien to which such Collateral is subject (subject only to Permitted Liens).

Found in Pacific Ethanol, Inc. contract