Permitted Liens

Permitted Liens. The lien and security interests created by this Agreement and the other Loan Documents.

Permitted Liens. Means the following: a. Any Liens existing on the date of closing and disclosed in the Schedule (excluding Liens to be satisfied with the proceeds of the Advances) or arising under this Agreement or the other Loan Documents; b. Liens for taxes, fees, assessments or other governmental charges or levies, either not delinquent or being contested in good faith by appropriate proceedings and for which Borrower maintains adequate reserves, provided the same have no priority over any of Bank's... security interests; c. Liens (i) upon or in any equipment acquired or held by Borrower 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 (ii) 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 d. Liens incurred in connection with the extension, renewal or refinancing of the indebtedness secured by Liens of the type described in clauses (a) through (c) 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. View More

Permitted Liens. Means: (1) liens for taxes not yet due or which are being contested in good faith by appropriate proceedings, provided that adequate reserves with respect thereto are maintained on the books of Debtor in conformity with generally accepted accounting principles; (2) carriers', warehousemen's, mechanics', materialmen's, repairmen's or other like liens arising in the ordinary course of business which are not overdue... for a period of more than 30 days or that are being contested in good faith by appropriate proceedings; (3) pledges or deposits in connection with workers' compensation, unemployment insurance and other social security legislation; (4) deposits by or on behalf of Debtor to secure the performance of bids, trade contracts (other than for borrowed money), leases, statutory obligations, surety and appeal bonds, performance bonds and other obligations of a like nature incurred in the ordinary course of business; (5) liens securing indebtedness of Debtor incurred to finance the acquisition of fixed or capital assets, provided that (i) such liens shall be created substantially simultaneously with the acquisition of such fixed or capital assets, (ii) such liens do not at any time encumber any property other than the property financed by such indebtedness and (iii) the amount of indebtedness secured thereby is not increased; (6) Liens created pursuant to this Agreement; and (7) purchase money liens in favor of Curative Health Services, Inc. and CHS Services, Inc. and liens referenced in Exhibit B. View More

Permitted Liens. Shall mean: (i) for taxes, assessments or governmental charges or levies on property of any Debtor if the same shall not at the time be delinquent or thereafter can be paid without penalty, or are being contested in good faith and by appropriate proceedings; (ii) imposed by law, such as carriers, warehousemen's and mechanics' Liens and other similar Liens arising in the ordinary course of business; (iii) arising out of pledges or deposits... under worker's compensation laws, unemployment insurance, old age pensions, or other social security or retirement benefits, or similar legislation; (iv) arising from any litigation or proceeding which is being contested in good faith by appropriate proceedings, provided, however, that no execution or levy has been made; (v) securing the performance of bids, tenders, contracts (other than for the repayment of borrowed money), statutory obligations and surety bonds; and. View More

Permitted Liens. Has the meaning given to that term in the Reimbursement Agreement.

Permitted Liens. Shall mean and include the following: (i) Liens for taxes or other governmental charges not at the time delinquent or thereafter payable without penalty or being contested in good faith and for which adequate reserves have been set aside on its books; (ii) Liens of carriers, warehousemen, mechanics, materialmen, repairmen, vendors, and landlords incurred in the ordinary course of business for sums not overdue by more than sixty (60) days or being contested in good faith and for which... adequate reserves have been set aside on its books; (iii) deposits under workers' compensation, unemployment insurance and social security laws or to secure the performance of bids, tenders, contracts (other than for the repayment of borrowed money) or leases, or to secure statutory obligations or surety, appeal bonds or performance or to secure indemnity, performance or other similar bonds in the ordinary course of business; (iv) 8 Liens securing obligations under a capital lease if such Liens do not extend to property other than the property leased under such capital lease; (v) Liens upon 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, so long as such Lien extends only to the equipment financed, and any accessions, replacements, substitutions and proceeds (including insurance proceeds) thereof or thereto and any extension, renewal or replacement thereof; (vi) Liens in favor of the Bank of India, New York Branch with respect to its credit facility to Synovics in the principal sum of $10,500,000; and (vii) liens arising solely by virtue of any statutory provisions related to banker's liens, rights of setoff or similar rights and remedies as to deposit accounts or the funds maintained with a creditor depository institution. View More

Permitted Liens. Shall mean any lien or encumbrance approved in writing by Bank before it is imposed on any of the Collateral.

Permitted Liens. (i) any security interest or other liens in favor of the Secured Party, (ii) purchase money security interests and/or capital leases that have been entered into by the Company prior to the date hereof and that are listed on Schedule I attached hereto, (iii) purchase money security interests and/or capital leases that are entered into by the Company after the date hereof and that do not, at any one time, secure obligations in an aggregate amount of in excess... of twenty-five thousand dollars ($25,000), (iv) liens imposed for taxes not yet due and payable, (v) carriers', warehousemen's, mechanics', materialmen's, repairmen's and similar liens imposed by law and arising in the ordinary course of the Company's business, (vi) pledges and deposits made by the Company in the ordinary course of its business in compliance with worker's compensation, unemployment insurance and social security laws or regulations or similar laws or regulations, (vii) deposits to secure performance of bids, trade and other contracts, leases, statutory obligations, surety and appeal bonds, performance bonds and other obligations of similar nature, and to secure letters of credit in respect of any of the foregoing, in each instance made by the Company in the ordinary course of its business, (viii) easements, zoning restrictions, rights-or-way and similar encumbrances on real property that have been imposed by law or have arisen in the ordinary course of the Company's business, that do not secure any monetary obligations and that do not materially detract from the value of the affected property or interfere with its use or the conduct of the Company's business, (ix) licenses and sublicenses granted by the Company in the ordinary course of its business and (x) precautionary filings by the holder of operating leases entered into by the Company in the ordinary course of its business. Any Permitted Lien referred to in the foregoing clause (iii), (vi), (vii) or (ix) is hereinafter referred to as a "Future Permitted Lien." -5- View More

Permitted Liens. Shall mean (a) easements, restrictions, covenants, rights of way or minor irregularities of title currently of record against any leased real property or that otherwise do not interfere with the use and occupancy thereof; (b) liens for Taxes not yet due and payable, or for Taxes being contested in good faith by appropriate proceedings, provided that in each such case, adequate reserves are maintained in accordance with GAAP; (c) warehouse and materialmen's liens which... do not individually or in the aggregate interfere with the use of the related assets and (d) a blanket security interest and lien in favor of its lender. View More

Permitted Liens. Means (i) liens in favor of the Purchaser created pursuant to the Security Agreement, (ii) liens arising by operation of law or in the ordinary course of business and (iii) purchase money security interests incurred in connection with the acquisition of fixed assets in the ordinary course of business.