Permitted Liens

Example Definitions of "Permitted Liens"
Permitted Liens. Are: (a) Liens existing on the Closing Date and shown on the Schedule or arising under this Agreement or other Loan Documents; (b) Liens for taxes, fees, assessments or other government charges or levies, either not delinquent or being contested in good faith and for which Borrower maintains adequate reserves on its Books, IF they have no priority over any of Bank's security interests; (c) Purchase money Liens (i) on Equipment acquired or held by Borrower or its Subsidiaries... incurred for financing the acquisition of the Equipment, or (ii) existing on equipment when acquired, IF the Lien is confined to the property and improvements and the Proceeds of the equipment; (d) Licenses or sublicenses granted in the ordinary course of Borrower's business and any interest or title of a licensor or under any license or sublicense, IF the licenses and sublicenses permit granting Bank a security interest; (e) Leases or subleases granted in the ordinary course of Borrower's business, including in connection with Borrower's leased premises or leased property; (f) Liens incurred in the extension, renewal or refinancing of the indebtedness secured by Liens described in (a) through (c), BUT any extension, renewal or replacement Lien must be limited to the property encumbered by the existing Lien and the principal amount of the indebtedness may not increase. View More Arrow
Found in OPTIUM CORP contract
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Permitted Liens. Are: (a) Liens existing on the Closing Date and shown on the Schedule Perfection Certificate or arising under this Agreement or other Loan Documents; (b) Liens for taxes, fees, assessments or other government charges or levies, either not delinquent or being contested in good faith and for which Borrower maintains adequate reserves on its Books, IF if they have no priority over any of Bank's Agent's security interests; (c) Purchase money Liens (i) on Equipment acquired or held by Borrower or... its Subsidiaries incurred for financing the acquisition of the Equipment, Equipment securing no more than Five Hundred Thousand Dollars ($500,000.00) in the aggregate amount outstanding, or (ii) existing on equipment when acquired, IF if the Lien is confined to the property and improvements and the Proceeds proceeds of the equipment; equipment, in each case such restrictions not to apply to the Liens on Equipment currently held by Maple. (d) Licenses Leases or subleases and non-exclusive licenses or sublicenses granted in the ordinary course of Borrower's business and any interest or title of a licensor or under any license or sublicense, IF business, if the leases, subleases, licenses and sublicenses permit granting Bank Agent a security interest; (e) Leases Liens arising from judgments, decrees or subleases granted attachments in circumstances not constituting an Event of Default under Section 8.4 or 8.7; (f) Liens in favor of other financial institutions arising in connection with Borrower's deposit accounts held at such institutions, provided that Agent has a perfected security interest in the amounts held in such deposit accounts; and (g) Other Liens not described above arising in the ordinary course of Borrower's business, including in connection with Borrower's leased premises business and not having or leased property; (f) not reasonably likely to have a material adverse effect on Borrower and its Subsidiaries taken as a whole. (h) Liens limited to Equipment financed by Maple. (i) Liens incurred in the extension, renewal or refinancing of the indebtedness secured by Liens described in (a) through (c), BUT (h), but any extension, renewal or replacement Lien must be limited to the property encumbered by the existing Lien and the principal amount of the indebtedness may not increase. increase View More Arrow
Found in INFINERA Corp contract
Permitted Liens. Are: (a) Liens existing on the Closing Date and shown on the Schedule or arising under this Agreement or other Loan Documents; (b) Liens for taxes, fees, assessments or other government charges or levies, either not delinquent or being contested in good faith and for which Borrower maintains adequate reserves on its Books, IF if they have no priority over any of Bank's security interests; (c) Carriers', warehousemen's and mechanics and other similar liens imposed by law 26 arising in the... ordinary course of business which are not delinquent or which are being contested in good faith and by appropriate proceedings for which adequate reserves are being maintained; (d) Liens incurred or deposits made in the ordinary course of business in connection with workers' compensation, unemployment insurance and other types of social security legislation and other Liens to secure the performance and return of money bonds and other similar obligations (exclusive of obligations for the payment of borrowed money) incurred in the ordinary course of business, whether pursuant to statutory requirements, common law or consensual arrangements; (e) Purchase money Liens (i) on Equipment acquired or held by Borrower or its Subsidiaries incurred for financing the acquisition of the Equipment, or (ii) existing on equipment when acquired, IF if the Lien is confined to the property and improvements and the Proceeds proceeds of the equipment; (d) (f) Licenses or sublicenses granted in the ordinary course of Borrower's business and any interest or title of a licensor or under any license or sublicense, IF the licenses and sublicenses permit granting Bank a security interest; (e) sublicense; (g) Leases or subleases granted in the ordinary course of Borrower's business, including in connection with Borrower's leased premises or leased property; (f) and (h) Liens incurred in the extension, renewal or refinancing of the indebtedness secured by Liens described in (a) through (c), BUT (a), (b), and (e) above, but any extension, renewal or replacement Lien must be limited to the property encumbered by the existing Lien and the principal amount of the indebtedness may not increase. View More Arrow
Found in SABA SOFTWARE INC contract
Permitted Liens. Are: (a) Liens existing on the Closing Date and shown on the Schedule 1 or arising under this Agreement or other Loan Documents; (b) Liens for taxes, fees, assessments or other government charges or levies, either not delinquent or being contested in good faith and for which Borrower maintains adequate reserves on its Books, IF if they have no priority over any of Bank's security interests; (c) Purchase money Liens (i) on Equipment acquired or held by Borrower or its Subsidiaries incurred for... financing the acquisition of the Equipment, or (ii) existing on equipment when acquired, IF if the Lien is confined to the property and improvements and the Proceeds proceeds of the equipment; (d) Licenses or Nonexclusive licenses and non-exclusive sublicenses granted by Borrower in the ordinary course of Borrower's its business and any interest or title including in connection with joint venture enterprises of a licensor or under any license or sublicense, IF the licenses and sublicenses permit granting Bank a security interest; Borrower; (e) Leases or subleases granted in the ordinary course of Borrower's business, including in connection with Borrower's leased premises or leased property; (f) Liens given by Subsidiaries of Borrower organized and doing business in Europe with respect to the permitted amount of indebtedness as set forth in clause (f) of the category of Permitted Indebtedness above; (g) The Philips Lien; and (h) Liens incurred in the extension, renewal or refinancing of the indebtedness secured by Liens described in (a) through (c), BUT but any extension, renewal or replacement Lien must be limited to the property encumbered by the existing Lien and the principal amount of the indebtedness may not increase. View More Arrow
Found in Volcano Corp contract
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Permitted Liens. Means the following: (i) purchase money security interests in specific items of Equipment; (ii) leases of specific items of Equipment; (iii) liens for taxes not yet payable; (iv) additional security interests and liens consented to in writing by Silicon, which consent shall not be unreasonably withheld; (v) security interests being terminated substantially concurrently with this Agreement; (vi) liens of materialmen, mechanics, warehousemen, carriers, or other similar liens arising in the... ordinary course of business and securing obligations which are not delinquent; (vii) liens incurred in connection with the extension, renewal or refinancing of the indebtedness secured by liens of the type described above in clauses (i) or (ii) above, provided that any extension, renewal or replacement lien is limited to the property encumbered by the existing lien and the principal amount of the indebtedness being extended, renewed or refinanced does not increase; (viii) Liens in favor of customs and revenue authorities which secure payment of customs duties in connection with the importation of goods. Silicon will have the right to require, as a condition to its consent under subparagraph (iv) above, that the holder of the additional security interest or lien sign an intercreditor agreement on Silicon's then standard form, acknowledge that the security interest is subordinate to the security interest in favor of Silicon, and agree not to take any action to enforce its subordinate security interest so long as any Obligations remain outstanding, and that Borrower agree that any uncured default in any obligation secured by the subordinate security interest shall also constitute an Event of Default under this Agreement. View More Arrow
Found in ONYX SOFTWARE CORP contract
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Permitted Liens. Means the following: (i) purchase money security interests in specific items of Equipment; (ii) leases of specific items of Equipment; (iii) liens for taxes not yet payable; payable, or being contested in the manner contemplated in Section 3.8 above; (iv) subject to the written consent of PFG on a case by case basis that such event(s) shall not give rise to an Event of Default, which consent may be given or withheld in PFG's business judgment or subject to such conditions as PFG may determine... in good faith, liens for fees, assessments, or other charges of a governmental authority, provided that the payment of such fees, assessments, or other charges of a governmental authority referenced in this clause (iv) that are due and payable are being contested in good faith and by appropriate proceedings diligently pursued and as to which adequate financial reserves have been established in accordance with GAAP on Borrower's books and records and a stay of enforcement of any such lien is in effect; (v) liens on deposits made by Borrower in the ordinary course of business in connection with, or to secure payment of, obligations under worker's compensation, unemployment insurance, social security, and other similar laws, or to secure the performance of bids, tenders, or contracts (other than for the repayment of Indebtedness) or to secure indemnity, performance, or other similar bonds for the performance of bids, tenders, or contracts (other than for the repayment of Indebtedness) or to secure statutory obligations (other than Liens arising under ERISA or Environmental Liens) or surety or appeal bonds, or to secure indemnity, performance, or other similar bonds; (vi) liens constituting encumbrances in the nature of reservations, exceptions, encroachments, easements, rights of way, covenants running with the land, and other similar title exceptions or encumbrances affecting any Real Property, provided that any such liens do not in the aggregate materially interfere with the use of such Real Property in the ordinary conduct of Borrower's business; (vii) liens arising from judgments and attachments in connection with court proceedings, provided that (a) the attachment or enforcement of such liens would not otherwise result in an Event of Default hereunder, (b) such liens are being contested in good faith by appropriate proceedings diligently pursued, (c) adequate financial reserves have been established on Borrower's books and records in accordance with GAAP, (d) no Collateral with an aggregate value in excess of $250,000 is subject to a material risk of loss or forfeiture, and (e) a stay of execution pending appeal or proceeding for review is in effect; (viii) any additional security interests and liens consented to in writing by Silicon, PFG, which consent shall not may be unreasonably withheld; (v) security interests being terminated substantially concurrently with this Agreement; (vi) liens of materialmen, mechanics, warehousemen, carriers, or other similar liens arising withheld in the ordinary course of its good faith business and securing obligations which are not delinquent; (vii) liens incurred in connection with the extension, renewal or refinancing of the indebtedness secured by liens of the type described above in clauses (i) or (ii) above, provided that any extension, renewal or replacement lien is limited to the property encumbered by the existing lien and the principal amount of the indebtedness being extended, renewed or refinanced does not increase; (viii) Liens in favor of customs and revenue authorities which secure payment of customs duties in connection with the importation of goods. Silicon judgment. PFG will have the right to require, as a condition to its consent under this subparagraph (iv) above, (iv), that the holder of the additional security interest or lien sign an intercreditor agreement on Silicon's PFG's then standard form, acknowledge that the security interest is subordinate to the security interest in favor of Silicon, PFG, and agree not to take any action to enforce its subordinate security interest so long as any Obligations remain outstanding, and that Borrower agree that any uncured default in any obligation secured by the subordinate security interest shall also constitute an Event of Default under this Agreement. Agreement; (ix) security interests being terminated substantially concurrently with this Agreement; (x) liens of materialmen, mechanics, warehousemen, carriers, or other similar liens arising in the ordinary course of business and securing obligations which are not delinquent; provided, that Borrower may, however, defer payment of any of the foregoing which are contested by Borrower in good faith, provided that Borrower (a) contests the same by appropriate proceedings promptly and diligently instituted and conducted, (b) notifies PFG in writing of the commencement of, and any material development in, any such proceedings which involved $250,000 either individually or in the aggregate, and (c) posts bonds or takes any other steps required to stay the enforcement of any such lien upon any of the Collateral against which such person could then proceed; 11 (xi) liens incurred in connection with the extension, renewal or refinancing of the indebtedness secured by liens of the type described above in clauses (i) or (ii) above or clause (xiv) below, provided that any extension, renewal or replacement lien is limited to the property encumbered by the existing lien and the principal amount of the indebtedness being extended, renewed or refinanced does not increase; (xii) liens in favor of customs and revenue authorities which secure payment of customs duties in connection with the importation of goods; (xiii) statutory, common law or contractual liens of depository institutions or institutions holding securities account (including rights of set-off) securing only customary charges and fees in connection with such accounts; and (xiv) liens in favor of Senior Lender securing an amount not in excess of the Senior Debt Limit. 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Found in BIOJECT MEDICAL TECHNOLOGIES INC contract
Permitted Liens. Means the following: (i) purchase money security interests in specific items of Equipment; (ii) leases of specific items of Equipment; (iii) liens for taxes not yet payable; payable, or being contested in the manner contemplated in Section 3.8 above; (iv) subject to the written consent of PFG on a case by case basis that such event(s) shall not give rise to an Event of Default, which consent may be given or withheld in PFG's business judgment or subject to such conditions as PFG may determine... in good faith, liens for fees, assessments, or other charges of a governmental authority, provided that the payment of such fees, assessments, or other charges of a governmental authority referenced in this clause (iv) that are due and payable are being contested in good faith and by appropriate proceedings diligently pursued and as to which adequate financial reserves have been established in accordance with GAAP on Borrower's books and records and a stay of enforcement of any such lien is in effect; (v) liens on deposits made by Borrower in the ordinary course of business in connection with, or to secure payment of, obligations under worker's compensation, unemployment insurance, social security, and other similar laws, or to secure the performance of bids, tenders, or contracts (other than for the repayment of Indebtedness) or to secure indemnity, performance, or other similar bonds for the performance of bids, tenders, or contracts (other than for the repayment of Indebtedness) or to secure statutory obligations (other than Liens arising under ERISA or Environmental Liens) or surety or appeal bonds, or to secure indemnity, performance, or other similar bonds; (vi) liens constituting encumbrances in the nature of reservations, exceptions, encroachments, easements, rights of way, covenants running with the land, and other similar title exceptions or encumbrances affecting any Real Property, provided that any such liens do not in the aggregate materially interfere with the use of such Real Property in the ordinary conduct of Borrower's business; (vii) liens arising from judgments and attachments in connection with court proceedings, provided that (a) the attachment or enforcement of such liens would not otherwise result in an Event of Default hereunder, (b) such liens are being contested in good faith by appropriate proceedings diligently pursued, (c) adequate financial reserves have been established on Borrower's books and records in accordance with GAAP, (d) no Collateral with an aggregate value in excess of $250,000 is subject to a material risk of loss or forfeiture, and (e) a stay of execution pending appeal or proceeding for review is in effect; (viii) any additional security interests and liens consented to in writing by Silicon, PFG, which consent shall not may be unreasonably withheld; (v) security interests being terminated substantially concurrently with this Agreement; (vi) liens of materialmen, mechanics, warehousemen, carriers, or other similar liens arising withheld in the ordinary course of its good faith business and securing obligations which are not delinquent; (vii) liens incurred in connection with the extension, renewal or refinancing of the indebtedness secured by liens of the type described above in clauses (i) or (ii) above, provided that any extension, renewal or replacement lien is limited to the property encumbered by the existing lien and the principal amount of the indebtedness being extended, renewed or refinanced does not increase; (viii) Liens in favor of customs and revenue authorities which secure payment of customs duties in connection with the importation of goods. Silicon judgment. PFG will have the right to require, as a condition to its consent under this subparagraph (iv) above, (iv), that the holder of the additional security interest or lien sign an intercreditor agreement on Silicon's PFG's then standard form, acknowledge that the security interest is subordinate to the security interest in favor of Silicon, PFG, and agree not to take any action to enforce its subordinate security interest so long as any Obligations remain outstanding, and that Borrower agree that any uncured default in any obligation secured by the subordinate security interest shall also constitute an Event of Default under this Agreement. Agreement; (ix) security interests being terminated substantially concurrently with this Agreement; (x) liens of materialmen, mechanics, warehousemen, carriers, or other similar liens arising in the ordinary course of business and securing obligations which are not delinquent; provided, that Borrower may, however, defer payment of any of the foregoing which are contested by Borrower in good faith, provided that Borrower (a) contests the same by appropriate proceedings promptly and diligently instituted and conducted, (b) notifies PFG in writing of the commencement of, and any material development in, any such proceedings which involved $250,000 either individually or in the aggregate, and (c) posts bonds or takes any other steps required to stay the enforcement of any such lien upon any of the Collateral against which such person could then proceed; (xi) liens incurred in connection with the extension, renewal or refinancing of the indebtedness secured by liens of the type described above in clauses (i) or (ii) above or clause (xiv) below, provided that any extension, renewal or replacement lien is limited to the property encumbered by the existing lien and the principal amount of the indebtedness being extended, renewed or refinanced does not increase; 11 (xii) liens in favor of customs and revenue authorities which secure payment of customs duties in connection with the importation of goods; (xiii) statutory, common law or contractual liens of depository institutions or institutions holding securities account (including rights of set-off) securing only customary charges and fees in connection with such accounts; and (xiv) liens in favor of the Bridge Lenders securing obligations under the Bridge Notes, so long as such liens are subordinated to the liens of PFG. 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Found in BIOJECT MEDICAL TECHNOLOGIES INC contract
Permitted Liens. Means the following: (i) purchase money security interests in specific items of Equipment; (ii) leases of specific items of Equipment; (iii) liens for taxes not yet payable; (iv) additional security interests and liens consented to in writing by Silicon, PFG, which consent may be withheld in its good faith business judgment. PFG will have the right to require, as a condition to its consent under this subparagraph (iv), that the holder of the additional security interest or lien sign an... intercreditor agreement on PFG's then standard form, acknowledge that the security interest is subordinate to the security interest in favor of PFG, and agree not to take any action to enforce its subordinate security interest so long as any Obligations remain outstanding, and that Borrower agrees that any uncured default in any obligation secured by the subordinate security interest shall not be unreasonably withheld; also constitute an Event of Default under this Agreement; (v) security interests being terminated substantially concurrently with this Agreement; (vi) liens of materialmen, mechanics, warehousemen, carriers, or other similar liens arising in the ordinary course of business and securing obligations which are not delinquent; (vii) liens incurred in connection with the extension, renewal or refinancing of the indebtedness secured by liens of the type described above in clauses (i) or (ii) above, provided that any extension, renewal or replacement lien is limited to the property encumbered by the existing lien and the principal amount of the indebtedness being extended, renewed or refinanced does not increase; (viii) Liens liens in favor of customs and revenue authorities which secure payment of customs duties in connection with the importation of goods. Silicon will goods; (ix) statutory, common law or contractual liens of depository institutions or institutions holding securities accounts (including rights of set-off) securing only customary charges and fees in connection with such accounts; (x) Liens to secure payment of workers' compensation, employment insurance, old-age pensions, social security and other like obligations incurred in the ordinary course of business (other than Liens imposed by ERISA), provided such liens have no priority over any of PFG's Liens; (xi) Liens against Lease Receivables with respect to which the right to require, as Senior Lender has provided a condition to its consent under subparagraph (iv) above, that the holder release in accordance with Section 4.3 of the additional security interest or lien sign an intercreditor agreement on Silicon's then standard form, acknowledge that Senior Lender's Loan & Security Agreement with Borrowers, securing no more than $2,500,000 in the security interest is subordinate to the security interest aggregate amount outstanding for all Borrowers; and -11- Partners for Growth II, L.P. Loan and Security Agreement (xii) liens in favor of Silicon, and agree Senior Lender securing an amount not to take any action to enforce its subordinate security interest so long as any Obligations remain outstanding, and that Borrower agree that any uncured default in any obligation secured by excess of the subordinate security interest shall also constitute an Event of Default under this Agreement. Senior Debt Limit. View More Arrow
Found in XRS Corp contract
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Permitted Liens. Means (a) Liens for taxes not yet delinquent or Liens for taxes being contested in good faith and by appropriate proceedings for which adequate reserves have been established; (b) Liens in respect of property or assets imposed by law which were incurred in the ordinary course of business, such as carriers', warehousemen's, materialmen's and mechanics' Liens and other similar Liens arising in the ordinary course of business which are not delinquent or remain payable without penalty or which are... being contested in good faith and by appropriate proceedings; (c) Liens incurred or deposits made in the ordinary course of business in connection with workers' compensation, unemployment insurance and other types of social security, and mechanic's Liens, carrier's Liens and other Liens to secure the performance of tenders, statutory obligations, contract bids, government contracts, performance and return of money bonds and other similar obligations, incurred in the ordinary course of business, whether pursuant to statutory requirements, common law or consensual arrangements; (d) Liens in favor of Secured Party under this Security Agreement; (e) Liens securing obligations under a capital lease if such Liens do not extend to property other than the property leased under such capital lease; and (f) Liens upon any equipment acquired or held by Debtor to secure the purchase price of such equipment or indebtedness incurred solely for the purpose of financing the acquisition of such equipment, so long as such Lien extends only to the equipment financed, and any accessions, replacements, substitutions and proceeds (including insurance proceeds) thereof or thereto. View More Arrow
Found in Hydrogen Future Corp contract
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Permitted Liens. Means (a) Liens for taxes not yet delinquent or Liens for taxes being contested in good faith and by appropriate proceedings for which adequate reserves have been established; (b) Liens in respect of property or assets imposed by law which were incurred in the ordinary course of business, such as carriers', warehousemen's, materialmen's and mechanics' Liens and other similar Liens arising in the ordinary course of business which are not delinquent or remain payable without penalty or which are... being contested in good faith and by appropriate proceedings; (c) Liens incurred or deposits made in the ordinary course of business in connection with workers' compensation, unemployment insurance and other types of social security, and mechanic's Liens, carrier's Liens and other Liens to secure the performance of tenders, statutory obligations, contract bids, government contracts, performance and return of money bonds and other similar obligations, incurred in the ordinary course of business, whether pursuant to statutory requirements, common law or consensual arrangements; (d) Liens in favor of Secured Party under this Security Agreement; the Collateral Agent; (e) Liens securing obligations under a capital lease if such Liens do not extend to property other than the property leased under such capital lease; and (f) Liens upon any equipment acquired or held by Debtor Company or any of its Subsidiaries to secure the purchase price of such equipment or indebtedness incurred solely for the purpose of financing the acquisition of such equipment, so long as such Lien extends only to the equipment financed, and any accessions, replacements, substitutions and proceeds (including insurance proceeds) thereof or thereto. thereto; (f) Liens arising from judgments, decrees or attachments in circumstances not constituting an Event of Default under the Note; (g) Liens in favor of customs and revenue authorities arising as a matter of law to secure payments of customs duties in connection with the importation of goods, (h) Liens which constitute rights of setoff of a customary nature or banker's liens, whether arising by law or by contract; (i) Liens on insurance proceeds in favor of insurance companies granted solely as security for financed premiums; and (j) leases or subleases and licenses or sublicenses granted in the ordinary course of Company's business. View More Arrow
Found in TearLab Corp contract
Permitted Liens. Means (a) Liens for taxes not yet delinquent or Liens for taxes being contested in good faith and by appropriate proceedings for which adequate reserves have been established; (b) Liens in respect of property or assets imposed by law which were incurred in the ordinary course of business, such as carriers', warehousemen's, materialmen's and mechanics' Liens and other similar Liens arising in the ordinary course of business which are not delinquent or remain payable without penalty or which are... being contested in good faith and by appropriate proceedings; (c) Liens incurred or deposits made in the ordinary course of business in connection with workers' compensation, unemployment insurance and other types of social security, and mechanic's Liens, carrier's Liens and other Liens to secure the performance of tenders, statutory obligations, contract bids, government contracts, performance and return of money bonds and other similar obligations, incurred in the ordinary course of business, whether pursuant to statutory requirements, common law or consensual arrangements; (d) Liens in favor of Secured Party under this Security Agreement; Party; (e) Liens securing obligations under a capital lease if such Liens do not extend to property other than the property leased under such capital lease; and (f) Liens upon any equipment acquired or held by Debtor Company or any of its Subsidiaries to secure the purchase price of such equipment or indebtedness incurred solely for the purpose of financing the acquisition of such equipment, so long as such Lien extends only to the equipment financed, and any accessions, replacements, substitutions and proceeds (including insurance proceeds) thereof or thereto. thereto; (f) Liens arising from judgments, decrees or attachments in circumstances not constituting an Event of Default; (g) Liens in favor of customs and revenue authorities arising as a matter of law to secure payments of customs duties in connection with the importation of goods, (h) Liens which constitute rights of setoff of a customary nature or banker's liens, whether arising by law or by contract; (i) Liens on insurance proceeds in favor of insurance companies granted solely as security for financed premiums; (j) leases or subleases and licenses or sublicenses granted in the ordinary course of Company's business; (k) Liens existing as of the date hereof; (l) Liens to secure Senior Indebtedness, (m) other Liens on the Company's property, including, its intellectual property, securing borrowed money in a principal amount not to exceed $1,000,000, provided that such Liens are junior to, or pari passu in priority to the Lien in favor of Secured Party, (n) Liens that are junior in priority to the Lien in favor of Secured Party to secure indebtedness that is expressly subordinated to the Obligations hereunder, (o) such other Liens as are consented to in writing by Secured Party and (p) Liens with respect to any restricted money market accounts maintained by the Company with Comerica Bank – California or its successor to the extent the same secures the Company's obligations with respect to the letter of credit in the amount of $48,400 issued by such bank to Clemmons Properties Partners L.P. Avistar - Security Agreement - 2011_(PALIB2_5390836_4).DOC -4- View More Arrow
Found in AVISTAR COMMUNICATIONS CORP contract
Permitted Liens. Means (a) Liens for taxes not yet delinquent or Liens for taxes being contested in good faith and by appropriate proceedings for which adequate reserves have been established; (b) Liens in respect of property or assets imposed by law which were incurred in the ordinary course of business, such as carriers', warehousemen's, materialmen's and mechanics' Liens and other similar Liens arising in the ordinary course of business which are not delinquent or remain payable without penalty or which are... being contested in good faith and by appropriate proceedings; (c) Liens incurred or deposits made in the ordinary course of business in connection with workers' compensation, unemployment insurance and other types of social security, and mechanic's Liens, carrier's Liens and other Liens to secure the performance of tenders, statutory obligations, contract bids, government contracts, performance and return of money bonds and other similar obligations, incurred in the ordinary course of business, whether pursuant to statutory requirements, common law or consensual arrangements; (d) Liens in favor of Secured Party under this Security Agreement; the Collateral Agent for the benefit of the Investors; (e) Liens securing obligations under a capital lease if such Liens do not extend to property other than the property leased under such capital lease; and (f) Liens upon any equipment acquired or held by Debtor Company or any of its Subsidiaries to secure the purchase price of such equipment or indebtedness incurred solely for the purpose of financing the acquisition of such equipment, so long as such Lien extends only to the equipment financed, and any accessions, replacements, substitutions and proceeds (including insurance proceeds) thereof or thereto. thereto; (f) Liens arising from judgments, decrees or attachments in circumstances not constituting an Event of Default; (g) Liens in favor of customs and revenue authorities arising as a matter of law to secure payments of customs duties in connection with the importation of goods, (h) Liens which constitute rights of setoff of a customary nature or banker's liens, whether arising by law or by contract; (i) Liens on insurance proceeds in favor of insurance companies granted solely as security for financed premiums; (j) leases or subleases and licenses or sublicenses granted in the ordinary course of Company's business; (k) Liens existing as of the date hereof; (l) Liens to secure Senior Indebtedness, (m) other Liens on the Company's property, including, its intellectual property, securing borrowed money in a principal amount not to exceed $1,000,000, provided that such Liens are junior to, or pari passu in priority to the Lien in favor of the Collateral Agent for the benefit of the Investors, (n) Liens that are junior in priority to the Lien in favor of the Collateral Agent for the benefit of the Investors to secure indebtedness that is expressly subordinated to the Obligations hereunder, (o) such other Liens as are consented to in writing by the Collateral Agent and (p) Liens with respect to any restricted money market accounts maintained by the Company with Comerica Bank – California or its successor to the extent the same secures the Company's obligations with respect to the letter of credit in the amount of $145,200 issued by such bank to Clemmons Properties Partners L.P. View More Arrow
Found in AVISTAR COMMUNICATIONS CORP contract
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Permitted Liens. Means (i) any Lien for taxes not yet due or delinquent or being contested in good faith by appropriate proceedings for which adequate reserves have been established in accordance with GAAP, (ii) any statutory Lien arising in the ordinary course of business by operation of law with respect to a liability that is not yet due or delinquent, (iii) any Lien created by operation of law, such as materialmen's liens, mechanics' liens and other similar liens,... arising in the ordinary course of business with respect to a liability that is not yet due or delinquent or that are being contested in good faith by appropriate proceedings, (iv) Liens (A) upon or in any equipment (as defined in the Security Agreement) acquired or held by the Company or any of its Subsidiaries to secure the purchase price of such equipment or Indebtedness incurred solely for the purpose of financing the acquisition or lease of such equipment, or (B) existing on such equipment at the time of its acquisition, provided that the Lien is confined solely to the property so acquired and improvements thereon, and the proceeds of such equipment, (v) Liens incurred in connection with the extension, renewal or refinancing of the Indebtedness secured by Liens of the type described in clauses (i) and (iv) 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, (vi) Liens securing the obligations under the Notes; (vii) leases or subleases and licenses and sublicenses granted to others in the ordinary course of the Company's business, not interfering in any material respect with the business of the Company and its Subsidiaries taken as a whole, (ix) Liens in favor of customs and revenue authorities arising as a matter of law to secure payments of custom duties in connection with the importation of goods and (viii) Liens arising from judgments, decrees or attachments. View More Arrow
Found in US DATAWORKS INC contract
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Permitted Liens. Means (i) any Lien disclosed in an SEC Report and: (1) any Lien for taxes not yet due or delinquent or being contested in good faith by appropriate proceedings for which adequate reserves have been established in accordance with GAAP, (ii) (2) any statutory Lien arising in the ordinary course of business by operation of law with respect to a liability that is not yet due or delinquent, (iii) (3) any Lien created by operation of law, such as materialmen's liens, mechanics' liens and other... similar liens, arising in the ordinary course of business with respect to a liability that is not yet due or delinquent or that are being contested in good faith by appropriate proceedings, (iv) (4) Liens (A) (a) upon or in any equipment (as defined in the Security Agreement) acquired or held by the Company or any of its Subsidiaries to secure the purchase price of such equipment or Indebtedness indebtedness incurred solely for the purpose of financing the acquisition or lease of such equipment, or (B) (b) existing on such equipment at the time of its acquisition, provided that the Lien is confined solely to the property so acquired and improvements thereon, and the proceeds of such equipment, (v) (5) Liens incurred in connection with the extension, renewal or refinancing of the Indebtedness indebtedness secured by Liens of the type described in clauses (i) and (iv) (1) through (4) 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, (vi) Liens securing the obligations under the Notes; (vii) leases or subleases and (7) leases, subleases, licenses and sublicenses granted to others in the ordinary course of the Company's business, not interfering in any material respect with the business of the Company and its Subsidiaries taken as a whole, (ix) and (8) Liens in favor of customs and revenue authorities arising as a matter of law to secure payments of custom duties in connection with the importation of goods and (viii) Liens arising from judgments, decrees or attachments. goods. View More Arrow
Found in HERON THERAPEUTICS, INC. contract
Permitted Liens. Means (i) any Lien for taxes not yet due or delinquent or being contested in good faith by appropriate proceedings for which adequate reserves have been established in accordance with GAAP, (ii) any statutory Lien arising in the ordinary course of business by operation of law with respect to a liability that is not yet due or delinquent, (iii) any Lien created by operation of law, such as materialmen's liens, mechanics' liens and other similar liens, arising in the ordinary course of business... with respect to a liability that is not yet due or delinquent or that are being contested in good faith by appropriate proceedings, (iv) Liens securing the Maker's obligations under this Note, (v) Liens (A) upon or in any equipment (as defined in the Security Agreement) acquired or held by the Company Maker or any of its Subsidiaries Su bsidiaries to secure the purchase price of such equipment or Indebtedness indebtedness incurred solely for the purpose of financing the acquisition or lease of such equipment, or (B) existing on such equipment at the time of its acquisition, provided that the Lien is confined solely to the property so acquired and improvements thereon, and the proceeds of such equipment, (v) (vi) Liens incurred in connection with the extension, renewal or refinancing of the Indebtedness indebtedness secured by Liens of the type described in clauses (i) and (iv) clause (v) 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, (vi) Liens securing the obligations under the Notes; (vii) leases or subleases and licenses and sublicenses hereafter granted to others in the ordinary course of the Company's Maker's business, not interfering in any material respect with the business of the Company Maker and its Subsidiaries taken as a whole, (ix) (viii) Liens in favor of customs and an d revenue authorities arising as a matter of law to secure payments of custom duties in connection with the importation of goods goods; and (viii) (ix) Liens arising from judgments, decrees or attachments. attachments in circumstances not constituting an Event of Default under Paragraph 4(a)(ix). View More Arrow
Found in RIVAL TECHNOLOGIES INC contract
Permitted Liens. Means (i) any Lien for taxes not yet due or delinquent or being contested in good faith by appropriate proceedings for which adequate reserves have been established in accordance with GAAP, GAAP; (ii) any statutory Lien arising in the ordinary course of business by operation of law with respect to a liability that is not yet due or delinquent, delinquent; (iii) any Lien created by operation of law, such as materialmen's liens, mechanics' liens and other similar liens, arising in the ordinary... course of business with respect to a liability that is not yet due or delinquent or that are being contested in good faith by appropriate proceedings, proceedings; (iv) Liens in respect of security deposits provided in the ordinary course of business and consistent with past practices; (v) Liens (A) upon or in any equipment (as defined in the Security Agreement) acquired or held by the Company or any of its Subsidiaries subsidiaries to secure the purchase price of such equipment or Indebtedness indebtedness incurred solely for the purpose of financing the acquisition or lease of such equipment, or (B) existing on such equipment at the time of its acquisition, provided that the Lien is confined solely to the property so acquired and improvements thereon, and the proceeds of such equipment, (v) equipment; (vi) Liens incurred in connection with the extension, renewal or refinancing of the Indebtedness indebtedness secured by Liens of the type described in clauses (i) and (iv) (v) 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, (vi) Liens securing the obligations under the Notes; increase; (vii) leases or subleases and licenses and sublicenses granted to others in the ordinary course of the Company's business, not interfering in any material respect with the business of the Company and its Subsidiaries taken as a whole, (ix) Liens in favor of customs and revenue authorities arising as a matter of law to secure payments of custom duties in connection with the importation of goods goods; and (viii) Liens arising from judgments, decrees or attachments. the security interests in favor of those certain third party lenders that are subject to the Subordination Agreement. - View More Arrow
Found in PERF Go-Green Holdings, Inc contract
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Permitted Liens. Means (i) any Lien for taxes not yet due or delinquent or being contested in good faith by appropriate proceedings for which adequate reserves have been established in accordance with GAAP, (ii) any statutory Lien arising in the ordinary course of business by operation of law with respect to a liability that is not yet due or delinquent, and (iii) any Lien created by operation of law, such as materialmen's liens, mechanics' liens and other similar liens, arising in the ordinary course of... business with respect to a liability that is not yet due or delinquent or that are being contested in good faith by appropriate proceedings. View More Arrow
Found in DUOS TECHNOLOGIES GROUP, INC. contract
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Permitted Liens. Means (i) any Lien for taxes not yet due or delinquent or being contested in good faith by appropriate proceedings for which adequate reserves have been established in accordance with GAAP, (ii) any statutory Lien arising in the ordinary course of business by operation of law with respect to a liability that is not yet due or delinquent, and delinquent or that is being contested in good faith for which adequate reserves have been established in accordance with GAAP, (iii) any Lien created by... operation of law, such as materialmen's liens, mechanics' liens and other similar liens, arising in the ordinary course of business with respect to a liability that is not yet due or delinquent or that are is being contested in good faith by appropriate proceedings. proceedings, (iv) Liens in favor of a landlord which (other than with respect to a security deposits) are not prior in right to the Liens of Secured Parties, (iv) Liens on Equipment having a fair market value of not more than $500,000 in the aggregate, but only if the lien constitutes a purchase money security interest incurred in connection with the purchase of such Equipment or if the Equipment is leased to the Grantor pursuant to a capital lease, (v) judgment Liens that do not result in an "Event of Default" under Section 4(a)(vii) of the Notes, and (vi) Liens securing the Company's obligations under the Transaction Documents View More Arrow
Found in Energous Corp contract
Permitted Liens. Means (i) (a) any Lien (as defined herein) for taxes not yet due or delinquent or being contested in good faith by appropriate proceedings for which adequate reserves have been established in accordance with GAAP, (ii) (b) any statutory Lien arising in the ordinary course of business by operation of law with respect to a liability that is not yet due or delinquent, and (iii) (c) any Lien created by operation of law, such as materialmen's liens, mechanics' liens and other similar liens, arising... in the ordinary course of business with respect to a liability that is not yet due or delinquent or that are being contested in good faith by appropriate proceedings. proceedings, and (d) any Lien arising under the Transaction Documents in favor of Buyer. View More Arrow
Found in Advaxis, Inc. contract
Permitted Liens. Means (i) any Lien for taxes not yet due or delinquent or being contested in good faith by appropriate proceedings for which adequate reserves have been established in accordance with GAAP, (ii) any statutory Lien arising in the ordinary course of business by operation of law with respect to a liability that is not yet due or delinquent, and delinquent; (iii) any Lien created by operation of law, such as materialmen's liens, mechanics' liens and other similar liens, arising in the ordinary... course of business with respect to a liability that is not yet due or delinquent or that are being contested in good faith by appropriate proceedings. proceedings; (iv) Liens securing the Indebtedness expressly permitted by clause (ii) of Permitted Indebtedness; (v) Liens securing the Company's obligations under the Transaction Documents and (vi) Liens securing each Subsidiary's obligations under the Transaction Documents (including, without limitation, under the Guaranties). View More Arrow
Found in FINJAN HOLDINGS, INC. contract
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Permitted Liens. Means (a) Liens for taxes not yet delinquent or Liens for taxes being contested in good faith and by appropriate proceedings for which adequate reserves have been established, and (b) Liens in favor of Secured Party under this Agreement or arising under the other Transaction Documents or any prior agreements between Debtor and Secured Party.
Found in Quantum Computing Inc. contract
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Permitted Liens. Means (a) Liens for taxes not yet delinquent or Liens for taxes being contested in good faith and by appropriate proceedings for which adequate reserves have been established, and (b) Liens in favor of Secured Party under this Security Agreement or arising under the other Transaction Documents or any prior agreements between Debtor and Secured Party. Documents.
Found in Digital Development Group Corp contract
Permitted Liens. Means (a) Liens for taxes not yet delinquent or Liens for taxes being contested in good faith and by appropriate proceedings for which adequate reserves have been established, and (b) Liens in favor of Secured Party under this Agreement or arising under the other Transaction Documents or any prior agreements between Debtor and Secured Party. Documents.
Found in Phoenix Life Sciences International Limited. contract
Permitted Liens. Means (a) Liens for taxes not yet delinquent or Liens for taxes being contested in good faith and by appropriate proceedings for which adequate reserves have been established, and (b) Liens in favor of Secured Party under this Agreement or arising under the other Transaction Documents or any prior agreements between Debtor Guarantor and Secured Party. Party, and (c) purchase money security interests for equipment made by Guarantor in the ordinary course of operating its business.
Found in Vivos Therapeutics, Inc. contract
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Permitted Liens. Means: (a) restrictions on transfers of securities imposed by applicable securities laws; (b) Liens on the property of a Person existing at the time such Person became a Subsidiary or such property was acquired from such Person in a transaction permitted hereunder securing Indebtedness permitted hereby; provided, however, that any such Lien may not extend to any other property (other than accessions to and proceeds thereof)... provided, further, that any such Lien was not created in anticipation of or in connection with the 3 transaction or series of transactions pursuant to which such Person became a Subsidiary or such property was acquired from such Person; (c) assignments of insurance or condemnation proceeds provided to landlords (or their mortgagees) pursuant to the terms of any lease and Liens or rights reserved in any lease for rent or for compliance with the terms of such lease; (d) Liens imposed by law for taxes that are not yet due or are being contested in good faith and for which adequate reserves have been established on the Company's books and records in accordance with U.S. generally accepted accounting principles, consistently applied; (e) carriers', warehousemen's, mechanics', materialmen's, repairmen's and other like Liens imposed by law, arising in the ordinary course of business and securing obligations that are not overdue by more than 30 days or that are being contested in good faith and by appropriate proceedings; (f) pledges and deposits made in the ordinary course of business in compliance with workers' compensation, unemployment insurance and other social security laws or regulations; (g) deposits to secure the performance of bids, trade contracts, leases, statutory obligations, surety and appeal bonds, performance bonds and other obligations of a like nature, in each case in the ordinary course of business; (h) easements, zoning restrictions, rights-of-way and similar encumbrances on real property imposed by law or arising in the ordinary course of business that do not secure any monetary obligations and do not materially detract from the value of the affected property or interfere with the ordinary conduct of business of the Company or any of its Subsidiaries; and (i) Liens granted to secure the obligations of the Company or any Subsidiary under any Indebtedness permitted under clause (c) of the definition of "Permitted Indebtedness" provided the Lien is limited to the property acquired or so financed (and any accessions thereto and proceeds thereof). (j) Liens granted to secure the Lightbridge Note; and (k) Liens granted to secure the First Regional Note provided such Liens are limited to the Company's right, title and interest in the $100,000 savings account currently on deposit with First Regional. View More Arrow
Found in PRIMAL SOLUTIONS INC contract
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Permitted Liens. Means: (a) restrictions on transfers of securities imposed by applicable securities laws; (b) Liens on the property of a Person existing at the time such Person became a Subsidiary or such property was acquired from such Person in a transaction permitted hereunder securing Indebtedness permitted hereby; provided, however, that any such Lien may not extend to any other property (other than accessions to and proceeds thereof) provided, further, that any such Lien was not created in anticipation... of or in connection with the 3 transaction or series of transactions pursuant to which such Person became a Subsidiary or such property was acquired from such Person; (c) assignments of insurance or condemnation proceeds provided to landlords (or their mortgagees) pursuant to the terms of any lease and Liens or rights reserved in any lease for rent or for compliance with the terms of such lease; (d) Liens imposed by law for taxes that are not yet due or are being contested in good faith and for which adequate reserves have been established on the Company's books and records in accordance with U.S. generally accepted accounting principles, consistently applied; (e) (b) carriers', warehousemen's, mechanics', materialmen's, repairmen's and other like Liens imposed by law, arising in the ordinary course of business and securing obligations that are not overdue by more than 30 days or that are being contested in good faith and by appropriate proceedings; (f) (c) pledges and deposits made in the ordinary course of business in compliance with workers' compensation, unemployment insurance and other social security laws or regulations; (g) (d) deposits to secure the performance of bids, trade contracts, leases, statutory obligations, surety and appeal bonds, performance bonds and other obligations of a like nature, in each case in the ordinary course of business; (h) (e) easements, zoning restrictions, rights-of-way and similar encumbrances on real property imposed by law or arising in the ordinary course of business that do not secure any monetary obligations and do not materially detract from the value of the affected property or interfere with the ordinary conduct of business of the Company or any of its Subsidiaries; (f) Liens securing any secured Indebtendess permitted under clause (a) of the definition of Permitted Indebtedness; and (i) (g) Liens granted to secure the obligations of the Company or any Subsidiary under any Indebtedness permitted under clause (c) of the definition of "Permitted Indebtedness" Permitted Indebtedness provided the Lien is limited to the property acquired or so financed (and any accessions thereto and proceeds thereof). (j) Liens granted to secure the Lightbridge Note; and (k) Liens granted to secure the First Regional Note provided such Liens are limited to the Company's right, title and interest in the $100,000 savings account currently on deposit with First Regional. View More Arrow
Found in Green Ballast, Inc. contract
Permitted Liens. Means: (a) restrictions on transfers of securities imposed by applicable securities laws; (b) Liens on the property of a Person existing at the time such Person became a Subsidiary or such property was acquired from such Person in a transaction permitted hereunder securing Indebtedness permitted hereby; provided, however, that any such Lien may not extend to any other property (other than accessions to and proceeds thereof) provided, further, that any such Lien was not created in anticipation... of or in connection with the 3 transaction or series of transactions pursuant to which such Person became a Subsidiary or such property was acquired from such Person; (c) assignments of insurance or condemnation proceeds provided to landlords (or their mortgagees) pursuant to the terms of any lease and Liens or rights reserved in any lease for rent or for compliance with the terms of such lease; (d) Liens imposed by law for taxes that are not yet due or are being contested in good faith and for which adequate reserves have been established on the Company's books and records in accordance with U.S. generally accepted accounting principles, consistently applied; (e) (b) carriers', warehousemen's, mechanics', materialmen's, repairmen's and other like Liens imposed by law, arising in the ordinary course of business and securing obligations that are not overdue by more than 30 days or that are being contested in good faith and by appropriate proceedings; (f) (c) pledges and deposits made in the ordinary course of business in compliance with workers' compensation, unemployment insurance and other social security laws or regulations; (g) (d) deposits to secure the performance of bids, trade contracts, leases, statutory obligations, surety and appeal bonds, performance bonds and other obligations of a like nature, in each case in the ordinary course of business; (h) (e) easements, zoning restrictions, rights-of-way and similar encumbrances on real property imposed by law or arising in the ordinary course of business that do not secure any monetary obligations and do not materially detract from the value of the affected property or interfere with the ordinary conduct of business of the Company or any of its Subsidiaries; and (i) 5 (f) Liens granted to secure the obligations of the Company or any Subsidiary under any Indebtedness permitted under clause clauses (b), (c) and (e) of the definition of "Permitted Indebtedness" provided Indebtedness;" provided, however, that any Liens securing Indebtedness permitted under (i) clause (b) of such definition shall be limited to the Lien is Company's accounts and inventory and (ii) clause (e) of such definition shall be limited to the property acquired or so financed (and any accessions thereto and proceeds thereof). (j) Liens granted to secure the Lightbridge Note; and (k) Liens granted to secure the First Regional Note provided through such Liens are limited to the Company's right, title and interest in the $100,000 savings account currently on deposit with First Regional. Indebtedness. View More Arrow
Found in ZILA INC contract
Permitted Liens. Means: (a) restrictions on transfers of securities imposed by applicable securities laws; (b) Liens on the property of a Person existing at the time such Person became a Subsidiary or such property was acquired from such Person in a transaction permitted hereunder securing Indebtedness permitted hereby; provided, however, that any such Lien may not extend to any other property (other than accessions to and proceeds thereof) provided, further, that any such Lien was not created in anticipation... of or in connection with the 3 transaction or series of transactions pursuant to which such Person became a Subsidiary or such property was acquired from such Person; (c) assignments of insurance or condemnation proceeds provided to landlords (or their mortgagees) pursuant to the terms of any lease and Liens or rights reserved in any lease for rent or for compliance with the terms of such lease; (d) Liens imposed by law for taxes that are not yet due or are being contested in good faith and for which adequate reserves have been established on the Company's books and records in accordance with U.S. generally accepted accounting principles, consistently applied; (e) 5 (b) carriers', warehousemen's, mechanics', materialmen's, repairmen's and other like Liens imposed by law, arising in the ordinary course of business and securing obligations that are not overdue by more than 30 days or that are being contested in good faith and by appropriate proceedings; (f) (c) pledges and deposits made in the ordinary course of business in compliance with workers' compensation, unemployment insurance and other social security laws or regulations; (g) (d) deposits to secure the performance of bids, trade contracts, leases, statutory obligations, surety and appeal bonds, performance bonds and other obligations of a like nature, in each case in the ordinary course of business; (h) (e) easements, zoning restrictions, rights-of-way and similar encumbrances on real property imposed by law or arising in the ordinary course of business that do not secure any monetary obligations and do not materially detract from the value of the affected property or interfere with the ordinary conduct of business of the Company or any of its Subsidiaries; and (i) (f) Liens granted to secure the obligations of the Company or any Subsidiary under any Indebtedness permitted under clause (b) or clause (c) of the definition of "Permitted Indebtedness" provided Indebtedness;" provided, however, that in the case of clause (c) only, the Lien is limited to the property acquired or so financed (and any accessions thereto and proceeds thereof). (j) Liens granted to secure the Lightbridge Note; and (k) Liens granted to secure the First Regional Note provided such Liens are limited to the Company's right, title and interest in the $100,000 savings account currently on deposit with First Regional. View More Arrow
Found in INTERLINK ELECTRONICS INC contract
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Permitted Liens. Shall mean (a) Liens for taxes and assessments or governmental charges or levies not at the time due or in respect of which the validity thereof shall currently be contested in good faith by appropriate proceedings; (b) Liens in respect of pledges or deposits under workmen's compensation laws or similar legislation, carriers', warehousemen's, mechanics', laborers' and material mens' and similar Liens, if the obligations secured by such Liens are... not then delinquent or are being contested in good faith by appropriate proceedings; and (c) Liens incidental to the conduct of the business of the Company that were not incurred in connection with the borrowing of money or the obtaining of advances or credits and which do not in the aggregate materially detract from the value of its property or materially impair the use made thereof by the Company in its business. View More Arrow
Found in FORCE MINERALS CORP contract
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Permitted Liens. Shall mean (a) Liens for taxes and assessments or governmental charges or levies not at the time due or in respect of which the validity thereof shall currently be contested in good faith by appropriate proceedings; (b) Liens in respect of pledges or deposits under workmen's workers' compensation laws or similar legislation, carriers', warehousemen's, mechanics', laborers' and material mens' materialmen's and similar Liens, if the obligations secured by such Liens are not then delinquent or are... being contested in good faith by appropriate proceedings; and (c) Liens incidental to the conduct of the business of the Company that or any Subsidiary which were not incurred in connection with the borrowing of money or the obtaining of advances or credits and which do not in the aggregate materially detract from the value of its property or materially impair the use made thereof by in the Company in operation of its business. 12 View More Arrow
Found in Rim Semiconductor CO contract
Permitted Liens. Shall mean (a) Liens for taxes Taxes and assessments or governmental charges or levies not at the time due or in respect of which the validity thereof shall currently be contested in good faith by appropriate proceedings; (b) Liens in respect of pledges or deposits under workmen's compensation laws or similar legislation, carriers', warehousemen's, mechanics', laborers' and material mens' laborers', materialmen's and similar Liens, if the obligations secured by such Liens are not then... delinquent or are being contested in good faith by appropriate proceedings; and (c) Liens incidental to the conduct of the business of the Company or Parent, as appropriate, that were not incurred in connection with the borrowing of money or the obtaining of advances or credits and which do not in the aggregate materially detract from the value of its property or materially impair the use made thereof by the Company or Parent, as appropriate, in its business. 37 View More Arrow
Found in HealthWarehouse.com, Inc. contract
Permitted Liens. Shall mean (a) Liens liens for taxes and assessments or governmental charges or levies not at the time due or in respect of which the validity thereof shall currently be contested in good faith by appropriate proceedings; and (b) Liens liens in respect of pledges or deposits under workmen's worker's compensation laws or similar legislation, carriers', warehousemen's, mechanics', laborers' and material mens' materialmen's, landlord's and statutory and similar Liens, liens, if the obligations... secured by such Liens liens are not then delinquent or are being contested in good faith by appropriate proceedings; faith, and (c) Liens liens and encumbrances incidental to the conduct of the business of the Company that or any Subsidiary which were not incurred in connection with the borrowing of money or the obtaining of advances or credits and which do not in the aggregate materially detract from the value of its property or materially impair the use made thereof by in the Company in operation of its business. View More Arrow
Found in Bio-Techne contract
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Permitted Liens. Has the meaning specified therefor in the Notes
Found in XpresSpa Group, Inc. contract
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Permitted Liens. Has the meaning specified therefor in the Notes Credit Agreement
Found in Oclaro, Inc. contract
Permitted Liens. Has the meaning specified therefor in the Notes Securities Purchase Agreement.
Found in BOLDFACE GROUP, INC. contract
Permitted Liens. Has the meaning specified therefor in the Notes Indenture.
Found in PLATINUM ENERGY SOLUTIONS, INC. contract
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Permitted Liens. Means (i) the Assumed Liabilities, and Liens associated therewith, and (ii) with respect to Licensed Intellectual Property, the rights held by the applicable licensors thereof.
Found in iGambit, Inc. contract
Permitted Liens. Means (i) the Assumed Liabilities, Noteholder Debt and Liens liens associated therewith, therewith and (ii) with respect to Licensed Intellectual Property, the rights held by the applicable licensors thereof.
Found in iGambit, Inc. contract
Permitted Liens. Means (i) the Assumed Liabilities, Noteholder Debt and Liens liens associated therewith, therewith and (ii) with respect to Licensed Intellectual Property, the rights held by the applicable licensors thereof. 5
Found in iGambit, Inc. contract
Permitted Liens. Means (i) the Assumed Liabilities, and Liens associated therewith, (ii) Liens securing the Agreed Liabilities Amount owing to Creditors, and (ii) (iii) with respect to Licensed Intellectual Property, the rights held by the applicable licensors thereof.
Found in iGambit, Inc. contract
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