Practical Law Dictionary. Glossary of UK, US and international legal terms. www.practicallaw.com. 2010.
Second lien loan — (or last out participation) is a form of loan with a security interest in the assets of a company that are second in ranking behind a traditional senior credit facility. A lien is a form of security interest granted over an item of property to… … Wikipedia
second lien loan — UK US noun [C] ► FINANCE, LAW a loan to a company where the lender has the right to particular assets of the company if it goes bankrupt, but only after other lenders have received their share of assets: »HSBC revealed that almost 6% of its… … Financial and business terms
second lien — USA The security interest ranking or priority of the lien granted with respect to a second lien loan. Second liens are junior to first liens. Practical Law Dictionary. Glossary of UK, US and international legal terms. www.practicallaw.com. 2010 … Law dictionary
Second Lien Debt — Debts that are subordinate to the rights of other, more senior debts issued against the same collateral, or a portion of the same collateral. If a borrower defaults, second lien debts stand behind higher lien debts in terms of rights to collect… … Investment dictionary
Lien — A security interest in one or more assets that is granted to lenders in connection with secured debt financing. The New York Times Financial Glossary * * * lien li‧en [ˈliːən, liːn] noun [countable] LAW 1. a person s or organization s right to… … Financial and business terms
lien — An interest or encumbrance held by a creditor in a debtor s real or personal property for the satisfaction of a debt. The lien may arise as a result of a consensual contract between the debtor and the creditor such as a security agreement or a… … Financial and business terms
Second-Lien Mortgage Loan — (вторичный ипотечный кредит) ипотечный кредит, обеспеченный залогом или трастом, когда выступающее в качестве обеспечения имущество было ранее заложено или передано в траст в обеспечение другого кредита, такое обеспечение является… … Ипотека. Словарь терминов
Second mortgage — A second mortgage typically refers to a secured loan (or mortgage) that is subordinate to another loan against the same property. In real estate, a property can have multiple loans or liens against it. The loan which is registered with county or… … Wikipedia
Lien — For other uses, see Lien (disambiguation). Property law … Wikipedia
Secured loan — A secured loan is a loan in which the borrower pledges some asset (e.g. a car or property) as collateral for the loan, which then becomes a secured debt owed to the creditor who gives the loan. The debt is thus secured against the collateral in… … Wikipedia
