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The subordinated noteholders argued that the fact that the second liens were expressly subordinate to the first priority liens meant the second noteholders were subordinate or junior in respect of their liens.
Bankruptcy law stipulates that debtor-in-possession lenders are the first to be repaid and will have a first priority lien on the assets of a company in bankruptcy.
Rated BB+ buy Standard & Poor's, these bonds are secured as the prospectus states, "by a perfected first priority lien on all the existing and future assets of Wynn Las Vegas".
With us it's first priority – the only priority.
The people with you in person are first priority.
"The first priority is renegotiating with creditors.
"The first priority is renegotiating with creditors," he said.
The first priority is to be done with it.
First priority?
"First priority: to secure.
His first priority?
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com