Permitted Lien

Permitted Lien. Shall have the meaning assigned to such term in the Debenture.

Permitted Lien. Means the security interest of Seller under the Security Agreement.

Permitted Lien. The term "Permitted Lien" shall mean a security interest, lien, charge or encumbrance in favor of the Subordinated Creditor in or to property of the Borrower to the extent that it: (a) has been previously obtained and is currently valid and perfected; (b) secures liabilities and obligations arising under the License Agreement; (c) has been granted under the Subordinated Security Agreement; and (d) is subject and subordinate to the security interests, liens, charges, and encumbrances in favor of... the Lender pursuant to the terms hereof. -2- View More

Permitted Lien. Means: (i) Liens in favor of Lender; (ii) Liens for taxes (excluding any Lien imposed pursuant to any of the provisions of ERISA) not yet due, or being contested in good faith for which adequate reserves have been established; (iii) Liens arising in the ordinary course of business by operation of law or regulation, but only if payment in respect of any such Lien is not at the time required or if such payment is being contested in good faith by appropriate... proceedings diligently conducted, and such Liens do not in the aggregate, materially detract from the value of the assets of Borrower or materially impair the use thereof in the operation of Borrower's or its Subsidiaries' business; (iv) Liens in connection with leases of real or personal property; (v) Purchase money security interests (which term shall include mortgages, conditional sales contracts, capitalized leases and all other title retention or deferred purchase devices) to secure the purchase price of property acquired hereafter by the Borrower or any Subsidiary; provided, however, that no such purchase money security interests shall extend to or cover any property other than the property the purchase price of which is secured by it; (vi) Such Lien arising from or related to the Axwood Obligations; and (vii) Liens arising from or as a result of the Bluebird Obligations, provided such Liens are subordinate to the Notes in accordance with the Subordination Agreement. View More

Permitted Lien. Shall have the respective meanings set forth in the Securities Purchase Agreement.

Permitted Lien. Means: (a) any Liens existing on the Closing Date created by Secured Party or any Member; (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) the claims or demands of landlords, carriers, warehousemen, mechanics, laborers, materialmen, and other like Persons arising by operation of law in the ordinary course of business, either not delinquent or being contested in good faith by... appropriate proceedings; (d) 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 incurred or deposits made in the ordinary course of business in connection with workers' compensation, unemployment insurance and other types of social security; (g) Liens incurred or deposits made to secure the performance of tenders, bids, leases, statutory or regulatory obligations, surety and appeal bonds, government contracts, performance and return-of-money bonds, and other obligations of like nature (but not securing debt for borrowed money or the deferred purchase price of property), in each case in the ordinary course of business; and (h) Liens arising from judgments, decrees or attachments that have been stayed or bonded within fifteen (15) days after notice thereof. View More

Permitted Lien. Means: (a) any Liens in favor of Coast Business Credit or CPI Securities LP existing on the date of this Security Agreement and set forth on Schedule A attached hereto; (b) Liens in favor of the Secured Party; (c) Liens that are either Permitted Liens or Permitted Encumbrances for purposes of the security agreements with the senior lenders referenced in clause (a) above (except for any Liens permitted under clause (d) of the definition of "Permitted Liens" set forth in that certain Loan and... Security Agreement dated as of April 23, 1998 among theDebtor, Gaming Systems International;, Hotel Information Systems, Inc. and Coast Business Credit); and (d) Liens incurred in connection with the extension, renewal or 2. 3 refinancing of the indebtedness secured by Liens of the type described in clauses (a), (b) and (c) above, provided that any extension, renewal or replacement Lien shall be limited to the property encumbered by the existing Lien and the principal amount of the indebtedness being extended, renewed or refinanced does not increase. View More

Permitted Lien. Has the meaning given to it in the Loan Agreement; 2

Permitted Lien. Means any Liens existing on the date of this Security Agreement and set forth on Schedule A attached hereto.

Permitted Lien. Shall have the meaning set forth in that certain Securities Purchase Agreement dated of even date herewith between Grantor and Secured Party (the "PURCHASE AGREEMENT").