Practical Law Dictionary. Glossary of UK, US and international legal terms. www.practicallaw.com. 2010.
second lien — ➔ lien … Financial and business terms
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 — USA A loan secured on a second ranking basis by (more or less) the same collateral, which secures the first lien loan. The first lien lenders and the second lien lenders agree that, in the event of a security enforcement or bankruptcy, the first… … Law dictionary
second lien finance — or second lien debt is a type of secured debt which may be characterised as: • Ranking equally with senior debt as to payment prior to acceleration. • Sharing the same security package as the senior debt, in terms of the assets over which… … Law dictionary
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 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
second lien — a lien subordinate to a previous or preferred lien. * * * … Universalium
second lien — a lien subordinate to a previous or preferred lien … Useful english dictionary
second lien — One which takes rank immediately after a first lien on the same property and is next entitled to satisfaction out of the proceeds … Black's law dictionary
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
