Permitted Liens.
Are: 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
... class="diff-color-red">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
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Permitted Liens.
Are: 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.
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Permitted Liens.
Are: 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.
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Permitted Liens.
Are: 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) 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 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 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 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; (g) Statutory Liens of landlords, carriers, warehousemen, mechanics, materialmen and other similar liens imposed by law, which are incurred in the ordinary course of business for sums not more than thirty (30) days delinquent or which are being diligently contested in good faith in a manner which stays enforcement of such Liens, provided that appropriate provisions shall have been established thereof in accordance with GAAP if they have no priority over any of Bank's security interests; and (h) Liens (other than any Lien imposed by ERISA or any rule or regulation promulgated thereunder) incurred or deposits made in the ordinary course of business in connection with workers' compensation, unemployment insurance or social security laws or similar legislation, or to secure the performance of tenders, statutory obligations, surety, stay, customs and appeal bonds, bids, government 16 contracts, leases, trade contracts, performance and return of money bonds and other similar obligations (exclusive of obligations for the payment of borrowed money) if they have no priority over any of Bank's security interests.
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Permitted Liens.
Are: 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) 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 of the equipment; (d) Licenses Liens associated with licenses or sublicenses granted by Borrower in the ordinary course of business and not otherwise prohibited by this Agreement, if such liens have no priority over any of Bank's security interests; (e) Liens associated with licenses or sublicenses granted to Borrower in the ordinary course of Borrower's business and in connection with Borrower's leased premises or leased property if such liens have no priority over any interest or title of a licensor or under any license or sublicense, IF the licenses and sublicenses permit granting Bank a Bank's security interest; (e) interests; (f) Leases or subleases granted in the ordinary course of Borrower's business, including in connection with Borrower's leased premises or leased property; (f) 14 (g) 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.
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Permitted Liens.
Are: 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
... class="diff-color-red">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 equipment and the Proceeds proceeds of the equipment; (d) Licenses Leases or subleases and licenses or sublicenses granted in the ordinary course of Borrower's business or pursuant to Section 7.1 of this Agreement and any interest or title of a lessee. licensee or licensor under such leases, licenses or under any license or sublicense, IF the licenses and sublicenses permit granting Bank a security interest; sublicenses; (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 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; (f) Liens arising from judgments, decrees or attachments in circumstances not constituting an Event of Default under Section 8.4 or 8.7; and (g) 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.
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Permitted Liens.
Are: 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)
Purchase money Liens (i) on Equipment acquired Leases 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 subleases and improvements and the Proceeds of the equipment; (d) Licenses 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 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) (d) 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.
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Permitted Liens.
Are: 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)
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 if the licenses and sublicenses permit granting Bank a security interest; (e) (d) Leases or subleases granted in the ordinary course of Borrower's business, including in connection with Borrower's leased premises or leased property; (e) carriers', warehousemen's, materialmen's and mechanics' and other similar liens imposed by law 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; (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 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; (g) any interest or title of a lessor under any lease entered into by Borrower and covering only the assets so leased; (h) Purchase money Liens on equipment, furniture and fixtures acquired, leased or held by Borrower, which Liens are incurred for financing the acquisition of the equipment, furniture and fixtures, if the Lien is confined to the property and improvements and the proceeds of the equipment, furniture and fixtures, to the extent that the aggregate principal amount of such indebtedness incurred does not exceed $1,000,000; and (i) Liens incurred in the extension, renewal or refinancing of the indebtedness secured by Liens described in (a) through (c), BUT (a), (c) and (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.
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Permitted Liens.
Are: are: (a) Liens existing on the Closing Date and shown on
the Schedule
1 or arising under this Agreement or other Loan Documents;
20 (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 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; its business; (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 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; and (g) Liens in favor of other financial institutions arising in connection with Borrower's deposit accounts held at such institutions to secure standard fees for deposit services charged by such institutions, provided that Bank as a perfected first priority security interest in such deposit accounts and any amounts on deposit therein.
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Permitted Liens.
Are: 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 security interests; (c)
Purchase money Liens (i) on Equipment acquired Leases 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 subleases and improvements and the Proceeds of the equipment; (d) Licenses 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 do not prohibit 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) and (d) 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.
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