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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 will hold a first lien on the company property.
»They are the first lien holders.
»first-lien debt/mortgage
»The home remains unfinished, and they have filed a first lien against the builders to recover the $67,000 they put down when they signed the agreement.
Financial and business terms. 2012.