senior lien

senior lien

n. the first security interest (lien or claim) placed upon property at a time before other liens, which are called "junior" liens. (See: mortgage, deed of trust, lien, UCC-1)

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ENPNewswire-August 28, 2019--KBRA Releases Report Affirming Rating on La Paz County IDA (AZ) Imperial Regional Detention Facility Project Senior Lien Refunding Project Revenue Bonds
The public service tax (PST) revenue bonds are payable from a senior lien pledge of PST and communications service tax (CST) revenues and a cash-funded debt service reserve fund.
Currently, the Airports Authority has outstanding $4.7 billion of aviation bonds all secured on a senior lien basis.
As to lenders with Competing hens on common collateral, it is oftentimes a race to the proper filing office to determine the senior lien position.
The power revenue bonds are secured by a senior lien on net revenues of the electric system.
DelShah Capital has bought the $11 million first mortgage debt on Morgan Lofts at 11 East 36th Street Morgan Lofts and received payment for the senior lien on 118-120 South Second Street in Williamsburg, Brooklyn.
The "stable" outlook assumes that "coverage of senior lien debt service will remain above 1x through the 2016 period, leaving the debt service reserve letters of credit undrawn and allowing the project to repay any short-term draws on the working capital facility," S&P added.
Matz urged credit unions to make changes because certain PACE loans "could usurp a lender's senior lien position on a mortgage, undermine the underwriting decisions made by the lender at the time of the mortgage origination, and bypass consumer protections required prior to the extension of credit."
Chambers has a senior lien on one building, at 5506 Walsh Lane.
Any amounts drawn on the new agreement are guaranteed by the Qwest Services Corporation (QSC) subsidiary and are secured by a senior lien on the stock of the Qwest Corporation (QC) subsidiary.
The airport authority's approximately USD74.8m of airport revenue refunding bonds senior lien, series 2008E-F, was assigned an 'A' underlying long-term rating by Fitch.
ENPNewswire-August 27, 2019--KBRA Affirms Rating on La Paz County IDA (AZ) Imperial Regional Detention Facility Project Senior Lien Refunding Project Revenue Bonds
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