Senior Lien Bonds
Bonds having a priority claim on one or more security interests relative to the claim against such security interests by the holders of other bonds.
An accounting estimate of the number of years it is likely for an asset to remain in service for the purpose of cost-effective revenue generation. The Internal Revenue Service (IRS) employs Useful Life for various purposes applicable to Tax-Exempt Bonds.

Bonds having a priority claim on one or more security interests relative to the claim against such security interests by the holders of other bonds.