Permitted Liens Definition Example with 4 Variations

This page contains an example definition of Permitted Liens, followed by definitions with minor variations. You can view the differences between the example and variations by selecting the "Show Differences" option.
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

Variations

Permitted Liens. Means: 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: 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: 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
Permitted Liens. Means: 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; Person; 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 2 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; and (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. Subsidiaries. View More Arrow
Found in NARROWSTEP INC contract
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