Permitted Encumbrances

Permitted Encumbrances. Means (a) Encumbrances for Taxes not yet due and payable; (b) mechanics', materialmans', suppliers', vendors' or similar Encumbrances arising in the ordinary course of business securing amounts which are not delinquent and for which adequate reserves are kept on the financial statements and books and records of the appropriate Person; (c) Encumbrances created pursuant to equipment leases entered into in the ordinary course of business which encumber the property which is the subject of the... lease to the extent such leases are properly described on Schedule 3.1(f)(ii); (d) Encumbrances for liens (other than for liens for borrowed money or other Debt) that do not, individually or in the aggregate, materially reduce the usefulness or value to the Company of the encumbered asset; and (e) with respect to contracts, agreements or instruments, the rights of the other parties thereto to the extent that such have been disclosed on the Schedules to this Agreement if required to be so disclosed. View More

Permitted Encumbrances. Shall mean (a) Encumbrances for taxes, assessments or other charges or levies of any Governmental Entity if the same shall not at the particular time in question be due and delinquent or (if foreclosure, distraint, sale or other similar proceedings shall not have been commenced or, if commenced, shall have been stayed) are being contested in good faith by appropriate proceedings; (b) Encumbrances incurred in the ordinary course of business in connection with worker's compensation, unemployment... insurance and other social security legislation; (c) Encumbrances incurred in the ordinary course of business to secure the performance of bids, tenders, trade contracts, leases, statutory obligations, surety and appeal bonds, performance and repayment bonds and other obligations of a like nature; (d) Encumbrances, easements, rights‐of‐way, restrictions, servitudes, permits, conditions, covenants, exceptions, reservations and other similar encumbrances incurred in the ordinary course of business or existing on property and not materially impairing the value of the assets of Masterson West, or interfering with the ordinary conduct of the business of Masterson West, or rights to any of its assets; (e) any defects, irregularities or deficiencies in title to the interests of Masterson West that do not reduce such Party's net revenue interest, or increase such Party's working interest; (f) the terms and provisions of oil, gas and/or mineral leases and joint operating agreements; and (g) valid, subsisting and applicable laws, rules and orders of any Governmental Entity. View More

Permitted Encumbrances. All easements, declarations, encumbrances, covenants, conditions, reservations, restrictions and other matters now or after the Effective Date affecting title to the Complex, provided Landlord shall not enter into any new easements, declarations, encumbrances, covenants, conditions, reservations, restrictions or other matters after the Effective Date which materially adversely affect Tenant's rights or materially increase Tenant's obligations hereunder.

Permitted Encumbrances. (a) real estate taxes, assessments and other governmental levies, fees, or charges imposed that are (i) not due and payable as of the Closing Date or (ii) being contested by appropriate proceedings; (b) mechanics' liens and similar liens for labor, materials, or supplies provided for amounts that are (i) not delinquent or (ii) being contested by appropriate proceedings (and, in either event, are not material); (c) zoning, building codes, and other land use laws regulating the use or occupancy... of real property or the activities conducted thereon that are imposed by any governmental authority having jurisdiction over real property; (d) liens, security interest or other encumbrances for any indebtedness of the Company or its Subsidiaries; and (e) easements, covenants, conditions, restrictions and other similar matters affecting title to real property and other encroachments and title and survey defects that do not or would not materially impair the use or occupancy of such real property in the operation of the business of the Company and its Subsidiaries taken as a whole View More

Permitted Encumbrances. Means the following encumbrances: (i) liens for taxes, assessments or governmental charges or levies not yet due and payable or liens for taxes, assessments or governmental charges or levies being contested in good faith and by appropriate proceedings for which adequate reserves have been established in accordance with GAAP; (ii) liens in respect of property of a Person imposed by law which were incurred in the ordinary course of business and which have not arisen to secure Debt for borrowed... money, such as carriers', materialmen's, warehousemen's and mechanics' liens, statutory and common law landlord's liens, and other similar liens arising in the ordinary course of business, and which either (1) do not in the aggregate materially detract from the value of such property or materially impair the use thereof in the operation of the business of a Person, or (2) are being contested in good faith by appropriate proceedings, which proceedings have the effect of preventing the forfeiture or sale of the property subject to such lien; (iii) liens created by or pursuant to the Loan Documents; (iv) liens in existence on the Effective Date which are listed, and the property subject thereto described, on Schedule I, without giving effect to any extensions or renewals thereof; (v) liens arising from judgments, decrees, awards or attachments in circumstances not constituting an Event of Default; (vi) liens (1) incurred or deposits made in the ordinary course of business in connection with general insurance maintained by a Person, (2) incurred or deposits made in the ordinary course of business of a Person in connection with workers' compensation, unemployment insurance and other types of social security, and (3) to secure the performance by any Person of tenders, statutory obligations (other than excise taxes), surety, stay, customs and appeal bonds, statutory bonds, bids, leases, government contracts, trade contracts, performance and return of money bonds and other similar obligations (exclusive of obligations for the payment of borrowed money) to the extent incurred in the ordinary course of business; and (vii) licenses, sublicenses, leases or subleases granted to third Persons in the ordinary course of business not interfering in any material respect with the business of a Person. View More

Permitted Encumbrances. Such of the following as to which no enforcement, collection, execution, levy or foreclosure proceeding shall have been commenced: (i) liens for taxes not yet due and payable, for which adequate reserves have been maintained in accordance with GAAP; (ii) Encumbrances imposed by Law, such as materialmen's, mechanics', carriers', workmen's and repairmen's liens and other similar liens arising in the ordinary course of business securing obligations that are not overdue for a period of more than 30... days (and, in each case, such as do not, individually or in the aggregate, materially impair the value or utility of the property encumbered thereby for its current purposes); (iii) pledges or deposits to secure obligations under workers' compensation laws or similar legislation or to secure public or statutory obligations; (iv) survey exceptions, reciprocal easement agreements and other customary encumbrances, including, without limitation, zoning laws, land use restrictions and other applicable Laws, on title to real property that (A) do not, individually or in the aggregate, materially and adversely affect the use of such property for its current purposes; (v) purchase money security interests on personal property incurred in connection with the acquisition of such personal property that cover only the personal property so acquired; (vi) as to any leased assets or properties, rights of the lessors or any Encumbrances created or permitted by such lessors and (vii) any Encumbrances set forth on Section 5(e) of the Disclosure Schedules. View More

Permitted Encumbrances. Any: (a) Encumbrances for Taxes, assessments or other governmental charges not yet delinquent or the amount or validity of which is being contested in good faith and diligently by appropriate proceedings; (b) Encumbrances of mechanics, carriers, workers, repairers, warehousemen and similar Persons arising or incurred in the ordinary course of business in respect of liabilities that are not yet due or if due and payable, but are unpaid, are being contested in good faith, and in respect of which... adequate resources are maintained; (c) matters of public record; (d) any conditions that reasonably would be expected to be shown by a current land survey or search or examination of publicly available information or documents; (e) Environmental Laws; (f) Encumbrances that arise due to zoning, subdivision, entitlement, and other Governmental Requirements related to land use; (g) royalty interests of public record; (h) the paramount title of the United States; (i) pledges made with respect to Owner Permits; (j) orders of any Governmental Authority; and (k) any Encumbrances set forth in this Contract, the Purchase Agreement, the Memorandum of Option or the Related Agreements. View More

Permitted Encumbrances. (i) statutory liens for taxes not yet due, (ii) statutory liens of landlords, carriers, warehousemen, mechanics and materialmen incurred in the ordinary course of business for sums not yet due, and (iii) non-exclusive licenses to the Seller Intellectual Property

Permitted Encumbrances. (i) mechanics', materialmen's, warehousemen's, carriers', workers', or repairmen's liens or other similar common law or statutory encumbrances arising or incurred in the ordinary course of business for amounts not yet due and payable; (ii) liens for taxes, assessments and other governmental charges not yet due and payable or that are due but not delinquent; (iii) with respect to real property, (A) easements, quasi-easements, licenses, covenants, rights-of-way, rights of re-entry and other... similar restrictions or defects of title, (B) any conditions that may be shown by a current survey or physical inspection, (C) zoning, building, subdivision and other similar requirements and restrictions, (D) landlords' liens for amount not yet due and payable; (iv) rights reserved to any Government Entity to regulate the affected property; (v) encumbrances that are Assumed Liabilities; (vi) encumbrances incurred in the ordinary course of business in connection with workers' compensation and unemployment insurance or similar Laws that are disclosed in the documentation made available to Buyer before the date of this Agreement; (vii) encumbrances granted to existing lenders that will be released at or prior to Closing and (viii) encumbrances that would not, individually or in the aggregate, reasonably be expected to have a material adverse effect on the Business, materially adversely impair the current value, use or operation of the Business, or otherwise materially interfere with the use of the affected property in the operation of the Business. View More

Permitted Encumbrances. Encumbrances securing indebtedness or other monetary obligations that constitute an Assumed Liability