Permitted Liens

Permitted Liens. Shall have the meaning ascribed to such term in the Debentures.

Permitted Liens. : (i) Liens imposed by law, such as carriers', warehousemen's, materialmen's and mechanics' liens, or Liens arising out of judgments or awards against Borrower with respect to which Borrower at the time shall currently be prosecuting an appeal or proceedings for review; (ii) Liens for taxes not yet subject to penalties for nonpayment and Liens for taxes the payment of which is being contested in good faith and by appropriate proceedings and for which, to the extent required by generally... accepted accounting principles then in effect, proper and adequate book reserves relating thereto are established by Borrower; (iii) purchase money security interests and liens in connection with capital leases incurred in the ordinary course of business (to the extent such liens are only on the leased property) or existing on after acquired property at the time of its acquisition by the Borrower; (iv) liens existing on property as of the date of this Note; (v) liens securing the performance of bids, trade contracts, leases, surety bonds and the like; (vi) leases and sublicenses granted to others in the ordinary course of business; (vii) liens consisting of rights of set-off or bankers liens of a customary nature; (viii) liens in connection with the establishment of receivable lines of credit with commercial banks or other institutional lenders; (ix) liens consisting of agreements to refrain from giving or creating Liens (other than the Lien and security interest granted to Lender hereunder) in connection with joint venture agreements, strategic alliances and the like; (x) liens granted in all of the Company's assets pursuant to the secured Promissory Note dated July 30, 1999; (xi) liens granted in all of the Company's assets pursuant to the secured Promissory Note dated February 22, 2000; and (xii) liens granted in all of the Company's assets pursuant to the secured Promissory Note dated April 14, 2000. View More

Permitted Liens. The word "Permitted Liens: mean: (a) liens and security interests securing Indebtedness owed by Borrower to Lender; (b) liens for taxes, assessments, or similar charges either not yet due or being contested in good faith; ( c) liens of materialmen, mechanics, warehousemen, or carriers, or other like liens arising in the ordinary course of business and securing obligations which are not yet delinquent; (d) purchase money liens or purchase money security interests upon or in any... property acquired or held by Borrower in the ordinary course of business to secure indebtedness outstanding on the date of this Agreement or permitted to be incurred under the paragraph on this Agreement titled "Indebtedness and Liens"; (e) liens and security interests which, as of the date of this Agreement, have been disclosed to and approved by the Lender in writing; and (f) those liens and security interests which in the aggregate constitute an immaterial and insignificant monetary amount with respect to the net value of Borrower's assets. View More

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 favor of Secured Party under this Agreement or arising under the other Transaction Documents or any prior agreements between Debtor and Secured Party (or its affiliates including, without limitation, Streeterville Capital, LLC), and (c) liens described on Schedule B attached hereto.

Permitted Liens. Means: (i) Liens imposed by law, such as carriers', warehousemen's, materialmen's and mechanics' liens, or Liens arising out of judgments or awards against Borrower with respect to which Borrower at the time shall currently be prosecuting an appeal or proceedings for review; (ii) Liens for taxes not yet subject to penalties for nonpayment and Liens for taxes the payment of which is being contested in good faith and by appropriate proceedings and for... which, to the extent required by generally accepted accounting principles then in effect, proper and adequate book reserves relating thereto are established by Borrower; (iii) Liens (A) upon or in any equipment acquired or held by the Borrower to secure the purchase price of such equipment or indebtedness incurred solely for the purpose of financing the acquisition 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 and other equipment financed by the holder of such Lien; (iv) Liens consisting of leases or subleases and licenses and sublicenses granted to others in the ordinary course of Borrower's business not interfering in any material respect with the business of Borrower and any interest or title of a lessor or licensor under any lease or license, as applicable; (v) Liens incurred or deposits made in the ordinary course of Borrower business in connection with worker's compensation, unemployment insurance, social security and other like laws; (vi) Liens in favor of customs and revenue authorities arising as a matter of law to secure payment of customs duties in connection with the importation of goods; (vii) Liens of landlords and of holders of deposit accounts (including rights of setoff), in each case incurred in the ordinary course of business; (viii) Liens in the nature of easements, rights-of-way, restrictions, encroachments and other irregularities or defects in title, in each case which do not interfere in any material respect with the ordinary conduct of the business of the Borrower or materially detract from the value of the Collateral; (ix) Liens in favor of commercial lending institutions to which the Secured Parties have each expressly consented in writing; and (x) Liens in favor of the Secured Parties. View More

Permitted Liens. Means the right of the Company to repurchase the Pledged Securities under certain circumstances pursuant to the Restricted Stock Purchase Agreement between the Company and the Borrower dated March 31, 2000.

Permitted Liens. PERMITTED LIENS means liens permitted pursuant to the terms of the Securities Purchase Agreement.

Permitted Liens. Means the following: (i) Any Liens existing on the date hereof and specifically disclosed in Schedule B attached hereto as inseparable ---------- part of this Agreement ("EXISTING LIENS"), provided that after the -------- ---- 10th day following the date on which the amounts of Raiffeisen Prepayment and Eximbank Prepayment have been credited in... full to the accounts set forth in the Waiver Agreement ("SPECIFIED DATE"): (x) all Existing Liens specified in Sections 1 and 2 (other than those specified in Sections 1 (e) and (f)) of Schedule B shall cease to be "Permitted Liens"; and (y) all Existing Liens specified in Section 3 of Schedule B shall cease to be "Permitted Liens", unless a request for cancellation of such Existing Lien has been filed by the Chargor with, and recorded by the Land Register in accordance with the terms of the Waiver Agreement, in which case the Existing Lien shall cease to be "Permitted Liens" after the 60th day following the Specified Date; (ii) Liens in favor of the Secured Parties and/or the Administrative Agent pursuant to the Transaction Documents; and (iii) Liens arising by mandatory provisions of applicable laws. View More

Permitted Liens. Means (i) Liens for Taxes or governmental assessments, charges or claims the payment of which is not yet due, or for Taxes the validity of which are being contested in good faith by appropriate proceedings; (ii) statutory and any existing contractual Liens of landlords, Liens of the Company's institutional lender under its existing line of credit, and Liens of carriers, warehousemen, mechanics, materialmen and other similar Persons and other Liens imposed by Applicable ... Law incurred in the ordinary course of business for sums not yet delinquent or being contested in good faith; (iii) Liens relating to deposits made in the ordinary course of business in connection with workers' compensation, unemployment insurance and other types of social security or to secure the performance of leases, trade contracts or other similar agreements; and (iv) Liens securing executory obligations under any Lease that constitutes an "operating lease" under GAAP. View More

Permitted Liens. Means: (i) Liens securing any Loan; (ii) Liens to secure obligations under any of the 14% Senior Notes due 2007 issued by FirstCom Corporation remaining outstanding after the date hereof. (ii) Liens in favor of the Borrower; (iii) Liens on property of any Person existing at the time such Person is acquired by or merged or consolidated with any member of the Group, PROVIDED that such Liens were not created in contemplation of such ... acquisition, merger or consolidation and do not extend to any assets other than those of such Person; (iv) statutory Liens of landlords and statutory Liens of carriers, warehousemen, mechanics and materialmen incurred in the ordinary course of business; (v) Liens to secure the performance of statutory obligations, surety or appeal bonds, performance bonds or similar obligations incurred in the ordinary course of business; (vi) Liens in connection with Vendor Financing Facilities; (vii) Liens for Taxes, assessments or governmental charges or claims that are not yet delinquent or that are being contested in good faith by appropriate proceedings; or (vii) renewals or replacements of any Liens referred to above. 20 23 View More