Permitted Lien

Permitted Lien. Means the individual and collective reference to the following: (a) liens for taxes, assessments and other governmental charges or levies not yet due or Liens for taxes, assessments and other governmental charges or levies being contested in good faith and by appropriate proceedings for which adequate reserves (in the good faith judgment of the management of the Company) have been established in accordance with GAAP; and (b) liens imposed by law which were incurred in the ordinary course of the... Company's business, such as carriers', warehousemen's and mechanics' Liens, statutory landlords' Liens, and other similar Liens arising in the ordinary course of the Company's business, and which (x) do not individually or in the aggregate materially detract from the value of such property or assets or materially impair the use thereof in the operation of the business of the Company and its consolidated Subsidiaries or (y) are being contested in good faith by appropriate proceedings, which proceedings have the effect of preventing for the foreseeable future the forfeiture or sale of the property or asset subject to such Lien. View More

Permitted Lien. Means: (a) any Liens existing on the date of this Security Agreement and set forth on Schedule A attached hereto; (b) Liens for taxes, fees, assessments or other governmental charges or levies, either not delinquent or being contested in good faith by appropriate proceedings; (c) Liens (i) upon or in any Equipment acquired or held by Grantor to secure the purchase price of such Equipment or indebtedness incurred solely for the purpose of financing the acquisition of such Equipment or (ii)... existing on such Equipment at the time of its acquisition, provided that the Lien is confined solely to the Equipment so acquired, improvements thereon and the Proceeds of such Equipment; (d) leases or subleases and licenses or sublicenses granted to others in the ordinary course of Grantor's business; (e) any right, title or interest of a licensor under a license; (f) Liens arising from judgments, decrees or attachments to the extent and only so long as such judgment, decree or attachment has not caused or resulted in an Event of Default under the Purchase Agreement; (g) easements, reservations, rights-of-way, restrictions, minor defects or irregularities in title and other similar Liens affecting real property not interfering in any material respect with the ordinary conduct of the business of Grantor; (h) Liens in favor of customs and revenue authorities arising as a matter of law to secure payment of customs duties in connection with the importation of goods; (i) Liens arising solely by virtue of any statutory or common law provision relating to banker's liens, rights of setoff or similar rights and remedies as to securities accounts, deposit accounts or other funds maintained with a creditor depository institution; (j) Liens on equipment and other personal property (including proceeds thereof and accessions thereto) securing capital or operating lease obligations, including without limitation sale and lease-back transactions; and (k) Liens, not otherwise permitted, which Liens do not in the aggregate exceed $50,000 at any one time. View More

Permitted Lien. Means any of the following: (a) mechanics and materialman Liens and other statutory Liens (including Liens for taxes, fees, assessments and other governmental charges or levies) arising in the ordinary course of business in respect of any amount (i) which is not at the time overdue or (ii) which may be overdue but the validity of which is being contested at the time in good faith by appropriate proceedings and for which the applicable Company has maintained adequate reserves, in each case so... long as the holder of such Lien has not taken any action to foreclose or otherwise exercise any remedies with respect to such Lien; and (b) Liens which are permitted in writing by the Secured Party in its sole and absolute discretion. 2 View More

Permitted Lien. As used herein, the following terms shall have the meanings ascribed to such terms in each of the Indentures (and for greater certainty, shall be inclusive of all such meanings): "Guarantor", "Lien", "Permitted Lien", "Person" and "Restricted Subsidiary".

Permitted Lien. (i) any Lien arising under this Agreement, (ii) any applicable restrictions on transfer under the Securities Act of 1933 and (iii) with respect to Company RSUs, any Lien created by the terms of any applicable Company Stock Plan or award agreement thereunder.

Permitted Lien. (g) "Permitted Lien" means any of the following: (a) Liens of landlords, carriers, warehousemen, bailees, mechanics, materialmen and other similar or statutory Liens (including Liens for taxes, fees, assessments and other governmental charges or levies) in respect of any amount (i) which is not more than 30 days overdue or (ii) which may be overdue but the validity of which is being contested at the time in good faith by appropriate proceedings, in each case so long as the holder of such Lien... has not taken any action to foreclose or otherwise exercise any remedies with respect to the Collateral; (b) Liens which have been disclosed on Schedule D hereto, (c) Liens securing purchase money indebtedness or capital leases in an amount not to exceed $100,000, (d) deposits or pledges made in connection with, or to secure payment of, workers' compensation, unemployment insurance, pensions or other social security obligations or to secure the performance of tenders, bids, contracts (other than for the repayment or guarantee of borrowed money or purchase money obligations), statutory obligations and other similar obligations, incurred in the ordinary course of business; (e) Liens in respect of judgments or awards not in excess of $100,000; (f) Liens on deposit accounts granted or arising in the ordinary course of business in favor of depositary banks maintaining such deposit accounts solely to secure customary account fees and charges payable in respect of such deposit accounts and overdrafts not in violation of this Agreement; or (g) Lien in favor of the Specified Secured Indebtedness (as defined in the Note) (the "Specified Secured Indebtedness") in an amount not in excess of $792,000. View More

Permitted Lien. Means (a) any Lien arising under this Agreement and (b) any applicable restrictions on transfer under the Securities Act.

Permitted Lien. (a) any Lien arising under this Agreement, (b) any applicable restrictions on transfer under the Securities Act of 1933 and/or set forth in the Company's Organizational Documents [and/or set forth in the Investment Agreement between the Company and any Stockholder party thereto dated December 4, 2019] and (c) with respect to Company RSUs, Company PSUs or Company Phantom Shares, any Lien created by the terms of any applicable Company Stock Plans or award agreement thereunder.

Permitted Lien. Shall have the same meaning as set forth in the Investments/Ascent Loan Agreement.

Permitted Lien. Means the individual and collective reference to the following: (a) Liens (as defined in the Purchase Agreement) for taxes, assessments and other governmental charges or levies not yet due or Liens for taxes, assessments and other governmental charges or levies being contested in good faith and by appropriate proceedings for which adequate reserves (in the good faith judgment of the management of the applicable Guarantor) have been established in accordance... with GAAP; (b) Liens imposed by law and incurred in the ordinary course of the applicable Guarantor's business, such as carriers', warehousemen's and mechanics' Liens, statutory landlords' Liens, Liens consisting of easements, right-of-way, restrictions, covenants or other agreements of record or similar charges or encumbrances, and other similar Liens arising in the ordinary course of the applicable Guarantor's business, and which (x) do not individually or in the aggregate materially detract from the value of such property or assets or materially impair the use thereof in the operation of the business of such Guarantor and its consolidated Subsidiaries or (y) are being contested in good faith by appropriate proceedings, which proceedings have the effect of preventing for the foreseeable future the forfeiture or sale of the property or asset subject to such Lien; and (c) Liens incurred in connection with Permitted Indebtedness under clause (b) thereunder, provided that such Liens are not secured by assets of the any of the Guarantors other than the assets so acquired, constructed, improved or leased (and the products and proceeds thereof, insurance therefor and warranty and other contract rights related thereto); (d) Liens incurred in respect of judgments and awards discharged within 30 days from the making thereof; (e) any cash deposits made or bonds or letters of credit posted in the ordinary course to secure performance under any contract or applicable law; (f) in the case of any account, intangible, instrument, lease, agreement or document, any contractual right, power, privilege, remedy, interest, defect, restriction, covenant, claim, counterclaim, right of recoupment, abatement, reduction or setoff, or defense of any account debtor or other party thereto, whether now existing or hereafter arising, and whether pursuant to the applicable contractual provisions or applicable law; (g) Liens existing on the Original Issue Date and set forth on Schedule 3.1(n) attached to the Purchase Agreement; or (h) any renewal, continuation, extension or replacement of any such Permitted Lien, provided that the scope of the assets encumbered thereby shall not be thereby increased. 3 View More