first lien.
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first lien — ➔ lien * * * first lien UK US noun [C or U] (also priority lien) ► LAW, FINANCE the right of a person or financial organization to be the first to take the assets of someone who owes them money if the debt is not paid: first lien on sth »The bank … Financial and business terms
first lien — see lien Merriam Webster’s Dictionary of Law. Merriam Webster. 1996 … Law dictionary
first lien — noun : a lien taking precedence over all other claims, charges, or encumbrances of the same general category but not necessarily over those imposed by the sanction of government (as taxes or costs of administration or other preferred claims given … Useful english dictionary
first lien. — See prior lien … Useful english dictionary
first lien — One which takes priority or precedence over all other charges or encumbrances upon the same piece of property, and which must be satisfied before such other charges are entitled to participate in the proceeds of its sale. See also first mortgage … Black's law dictionary
first lien — One which takes priority or precedence over all other charges or encumbrances upon the same piece of property, and which must be satisfied before such other charges are entitled to participate in the proceeds of its sale. See also first mortgage … Black's law dictionary
Perfected first lien — A first lien that is duly recorded with the cognizant governmental body so that the lender will be able to act on it should the borrower default. The New York Times Financial Glossary … Financial and business terms
lien — / lēn/ n [Anglo French, bond, obligation, literally, tie, band, from Old French, from Latin ligamen, from ligare to bind]: a charge or encumbrance upon property for the satisfaction of a debt or other duty that is created by agreement of the… … Law dictionary
first — I (earlier) adjective aboriginal, anterior, earlier, earliest, embryonic, inaugural, incipient, introductory, previous, primeval, primitive, prior associated concepts: at first impression, first lien, first reading, first stages of litigation, on … Law dictionary
perfected first lien — A first attachment on an asset that is duly recorded with the relevant government body so that the lender will be able to act on it should the borrower default. Bloomberg Financial Dictionary … Financial and business terms
