Permitted Liens

Permitted Liens. Means (a) Liens for taxes, assessments and other governmental charges or levies not yet delinquent or Liens for taxes, assessments and other governmental charges or levies being contested in good faith and by appropriate proceedings for which adequate reserves have been established, (b) Liens in favor of Secured Party, (c) that certain Lien in favor of Iliad Research and Trading, L.P, (d) a certain Lien in favor of Debtor's current landlord, (e) Liens which constitute purchase money security... interests or arise in connection with capitalized leases (and attaching only to the property being purchased or leased), (f) Liens securing the claims of materialmen, mechanics, carriers, warehousemen or landlords for labor, materials, supplies or rentals incurred in the ordinary course of business, (g) Liens securing premium financing obligations, (h) Liens arising from precautionary UCC financing statement filings in respect of operating leases, and (i) Liens existing on the date hereof. View More

Permitted Liens. Means: 1.29.1 Liens existing on the date hereof and described on Schedule 1.28, and any modifications, renewals or extensions thereof; 1.29.2 Liens arising by operation of law in favor of materialmen, mechanics, warehousemen, carriers, lessors or other similar Persons incurred by Borrower or any Subsidiary in the ordinary course of business which secure its obligations to such Person; provided, however, that (i) the Borrower or such Subsidiary is not in default with respect to such... payment obligation to such Person, unless the Borrower or such Subsidiary is in good faith and by appropriate proceedings diligently contesting such obligation and adequate provision is made for the payment thereof, and (ii) all such defaults in the aggregate have no Material Adverse Effect; 1.29.3 Liens securing taxes, assessments or governmental charges or levies; provided, however, that (i) neither the Borrower nor any Subsidiary is in default in respect of any payment obligation with respect thereto unless the Borrower or such Subsidiary is in good faith and by appropriate proceedings diligently contesting such obligation and adequate reserves therefor have been established on the books of the Borrower or such Subsidiary, as the case may be, in conformity with GAAP and (ii) all such defaults in the aggregate have no Material Adverse Effect; 1.29.4 Liens incurred or pledges and deposits made in the ordinary course of business in connection with workers' compensation, unemployment insurance, old-age pensions and other social security benefits; 1.29.5 Liens securing the performance of bids, tenders, leases, contracts (other than for the repayment of borrowed money), statutory obligations, surety and appeal bonds and other obligations of like nature, incurred as an incident to and in the ordinary course of business, and judgment liens; provided, however, that all such Liens in the aggregate have no Material Adverse Effect; 1.29.6 Zoning restrictions, easements, licenses, reservations, restrictions on the use of real property or minor irregularities incident thereto which do not in the aggregate materially detract from the value or use of the property or assets of the Borrower or any Subsidiary or impair, in any material manner, the use of such property for the purposes for which such property is held by the Borrower or any Subsidiary; and 1.29.7 Purchase money liens securing Debt incurred in connection with the acquisition of equipment or other capital assets (where such liens have a perfected, first priority security interest only in the equipment and/or other capital assets being purchased). View More

Permitted Liens. (i) mechanics' and materialmen's liens and workmen's, repairmen's, warehouseman's and carriers' liens arising in the ordinary course of business, the obligations of which are not overdue or otherwise delinquent; and (ii) Liens for Taxes not yet due and payable or being contested in good faith (it being understood that all Tax Liabilities of the Chex Entities are Excluded Liabilities)

Permitted Liens. Liens set forth on Schedule I attached hereto; Liens registered by Holders of Senior Secured Convertible Debenture issued by the Company; Liens in favor of the Secured Party; Liens for taxes, fees, assessments or other government charges or levies, either not delinquent or being contested in good faith by appropriate proceedings, provided that adequate reserves with respect to such taxes, fees, assessments or other government charges or levies which are being contested are maintained on the... books of the Debtors, in conformity with GAAP; Liens for construction or improvements to real property and construction or building supplies, either not delinquent or being contested in good faith by appropriate proceedings, provided that adequate reserves with respect to such expenses that are being contested are maintained on the books of the Debtors, in conformity with GAAP; pledges or deposits in connection with workers' compensation, unemployment insurance and other social security legislation; landlord Liens arising from any real property leased by Debtors; capitalized lease or purchase money Liens (i) on assets acquired or held by Debtors incurred for financing the acquisition of such asset, or (ii) existing on such asset when acquired, provided that such Lien is confined to the property and improvements and the proceeds of such assets; and Liens incurred in the extension, renewal or refinancing of the indebtedness secured by Liens described in any of the foregoing, provided that any such extension, renewal or replacement Lien be limited to the property encumbered by the existing Lien and the principal amount of the indebtedness may not increase. View More

Permitted Liens. (i) any Liens created by this Note; (ii) EBRD Indebtedness; (iii) inchoate Liens for taxes, assessments or governmental charges or levies not yet due or Liens for taxes, assessments or governmental charges or levies being contested in good faith and by appropriate proceedings for which adequate reserves have been established in accordance with GAAP; and (iv) Liens in respect of Property of the Issuer or any of its Subsidiaries imposed by Law, which were incurred in the ordinary course of... business and do not secure Indebtedness, such as carriers', warehousemen's, materialmen's and mechanics' liens and other similar Liens arising in the ordinary course of business, and (x) which do not in the aggregate materially detract from the value of the Issuer's or such Subsidiary's Property or materially impair the use thereof in the operation of the business of the Issuer or such Subsidiary or (y) which are being contested in good faith by appropriate proceedings, which proceedings have the effect of preventing the forfeiture or sale of the Property subject to any such Lien View More

Permitted Liens. Liens, claims, and encumbrances that: (a) arise or exist pursuant to this Agreement; (b) exist on the date hereof and are listed on SCHEDULE A hereto and any renewals or extensions thereof, provided such liens secure the purchase money for specific equipment and such liens are limited solely to such specific equipment and the proceeds thereof; (c) In addition to the items listed on SCHEDULE A, capital leases or purchase money liens in the aggregate of $1,500,000.00 outstanding at any time (i)... on equipment acquired or held by Borrower 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) are for taxes not yet due or which are being contested in good faith and by appropriate proceedings diligently conducted; (e) are carriers', warehousemen's, mechanics', material men's, repairmen's, or other similar liens, claims, or encumbrances arising in the ordinary course of business which are not overdue for a period of more than ninety (90) days or which are being contested in good faith by appropriate proceedings diligently conducted; (f) are pledges or deposits in the ordinary course of business in connection with workers' compensation, unemployment insurance, and other Social Security legislation; (g) are deposits to secure the performance of bids, contracts and leases, statutory obligations, surety bonds, performance bonds, and other obligations similarly incurred in the ordinary course of business; (h) secure judgments for the payment of money not constituting an Event of Default or secure appeal or other surety bonds related to such judgments; and (i) secure Permitted Indebtedness. View More

Permitted Liens. The definition of "Permitted Liens" is hereby amended by deleting the word "and" after the semicolon in clause (g) thereof; deleting the period at the end of clause (h) thereof and replacing it with "; and"; and adding the following clause (i) after clause (h) thereof: (i) Liens not otherwise permitted by clauses (a) through (h) of this definition; provided that neither (A) the aggregate outstanding principal amount of the obligations of the Company and any Subsidiary secured thereby nor (B)... the fair market value of the assets subject thereto, exceeds $10,000,000 in the aggregate at any time. View More

Permitted Liens. Means (i) the Liens incurred pursuant to this Agreement, (ii) the Liens incurred pursuant to the Wachovia Credit Agreement, or any replacement financing or other refinancing, and any security agreements or other documents related thereto, and (iii) the Liens permitted pursuant to the Wachovia Credit Agreement (as in effect on the date hereof), as such agreement may be amended from time to time

Permitted Liens. Shall mean: (a) the liens and security interests of any Senior Lender; (b) the liens and security interests of the Secured Party hereunder; (c) liens for taxes, assessments, or similar charges either not yet due or being contested in good faith; (d) 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; (e) purchase money liens or purchase money security interests upon or... in any property acquired or held by the Debtor in the ordinary course of business to secure indebtedness outstanding on the date of this Agreement; (f) liens and security interests which, as of the date of this Agreement, have been disclosed to and approved by the Secured Party in writing; and (g) those liens and security interests which in the aggregate constitute an immaterial and insignificant monetary amount with respect to the net value of the Debtor's assets. View More

Permitted Liens. Liens on (x) all owned real property, equipment and fixtures comprising the Refinery, including buildings, terminals, storage tanks, refining and other facilities, pipelines, pipeline rights, loading racks, rail spurs and loading facilities necessary to operate the Refinery and which are located at the Refinery, (y) the capital stock of Kiantone, and (z) all supporting obligations and books and records and proceeds relating to any of the foregoing, in each case to secure Indebtedness incurred... under the Senior Secured Note Indenture and Hedging Obligations (as defined in the Senior Secured Note Indenture); provided, that Permitted Liens under this paragraph (xiv) shall not include Excluded Assets (as defined in the Senior Secured Note Indenture as in effect on the Senior Note Closing Date). View More