Perfected first lien

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.
References in periodicals archive ?
In both of these facilities, the lenders have a perfected first lien on subsidiary stock as opposed to the aircraft owned by the subsidiaries.
Additional security for the Notes is given in the form of a perfected first lien on the underlying WCG Note.