Practical Law Glossary Item 6-383-2770 (Approx. 2 pages)
Glossary
Prime
To take priority over, as in the granting of a new lien with priority over an existing lien on the same property. For example, this may occur in the context of DIP financing, where the DIP lender primes the existing lender by obtaining priming liens as an inducement to provide financing to the debtor.