Permitted Liens

Permitted Liens. Shall mean with respect to the Collateral: (a) Liens for current taxes not yet due and payable, other non-consensual liens arising in the ordinary course of business for sums not due, and, if MLBFS' rights to and interest in the Collateral are not materially and adversely affected thereby, any such liens for taxes or other non-consensual liens arising in the ordinary course of business being contested in good faith by appropriate proceedings; (b) Liens in favor of MLBFS; ... (c) Liens which will be discharged with the proceeds of the Loan; (d) Liens securing indebtedness of the Customer other than the Obligations, provided, however, that such liens secure indebtedness of the Customer of not more than $150,000.00 in each instance and not more than $500,000.00 in the aggregate in any consecutive 12-month period and provided further that such liens remain at all times junior and subordinate to the liens securing the Obligations; and (e) Any other liens expressly permitted in writing by MLBFS. The Customer shall provide MLBFS with formal written notification that a lien has been granted pursuant to clause (d) above within (3) three business days of each such an occurrence. View More

Permitted Liens. Means (a) the Lien created by this Agreement, (b) Liens permitted by Sections 10.2(a), (b) or (d)(y) of the Credit Agreement, (c) to the extent permitted by Sections 10.1(j) or 10.1(k) of the Credit Agreement, Liens permitted by 4 Sections 10.2(f) or 10.2(g)(ii) of the Credit Agreement and (d) to the extent replacing, extending or renewing any of the foregoing, Liens permitted by Section 10.2(h) of the Credit Agreement.

Permitted Liens. Means: (a) liens on the stock of Covanta to secure the debt comprising the Exit Financing; (b) liens in favor of any Subsidiary; (c) liens incurred or deposits made to secure the performance of statutory or regulatory obligations, bankers' acceptances, surety or appeal bonds, performance bonds, deposits to secure the performance of tenders, bids, trade contracts, government contracts, import duties, performance, and return-of-money bonds, ... leases or licenses or other obligations of a like nature incurred in the ordinary course of business, including, without limitation, landlord liens on leased properties; (d) existing on the date of this Agreement (other than liens to secure debt for borrowed money); (e) liens for taxes, assessments or governmental charges or claims that (i) are not yet delinquent, (ii) that are not yet subject to penalties or interest for non-payment or (iii) that are being contested in good faith by appropriate proceedings promptly instituted and diligently -5- concluded, provided that in the case of clause (iii), any reserve or other appropriate provision as is required in conformity with GAAP has been made therefore, (f) carriers', warehousemen's, mechanics', landlords', materialmen's, repairmen's, suppliers' or other like liens arising in the ordinary course of business and deposits made to obtain the release of such liens and with respect to obligations not overdue for a period in excess of 60 days or which are being contested in good faith by appropriate proceedings; provided that any reserve or other appropriate provision as shall be required to conform with GAAP shall have been made; (g) liens incurred or pledges or deposits made in the ordinary course of business in connection with workers' compensation, unemployment insurance and other types of social security; (h) deposits made in the ordinary course of business to secure liability to insurance carriers; (i) any attachment or judgment lien not constituting an Event of Default under this Agreement and liens arising from the rendering of a judgment that is not a final judgment or order against the Company or any Subsidiary with respect to which the Company or such Subsidiary is then proceeding with an appeal or other proceeding for review or in connection with surety or appeal bonds in connection with such attachment or judgment; (j) any interest or title of a lessor or sublessor under any operating lease; (k) liens arising from Uniform Commercial Code financing statement filings regarding operating leases entered into by the Company and its Subsidiaries in the ordinary course of business; and (l) rights of set-off of banks and other Persons. View More

Permitted Liens. As defined in the Indenture.

Permitted Liens. Has the meaning assigned such term in the Indenture.

Permitted Liens. Are: (a) Liens existing as of the date hereof and shown on Schedule B attached hereto or arising under this Agreement; (b) Liens in favor of the Lender arising under this Agreement; and (c) Liens for taxes, fees, assessments or other government charges or levies, either not delinquent or being contested in good faith and for which the Debtor maintains adequate reserves on its books, IF they have no priority over any of Secured Party's security interests.... (d) Liens on fixed or capital assets, including personal property, acquired, constructed or improved by any of the Debtor and its subsidiaries, provided that (A) such Liens secure Indebtedness (including capital lease obligations) permitted by clause (4) of the definition of "Permitted Indebtedness," (B) such Liens and the Indebtedness secured thereby are incurred prior to or within 90 days after such acquisition or the completion of such construction or improvement, (C) the Indebtedness secured thereby does not exceed the cost of acquiring, constructing or improving such fixed or capital assets, and (D) such security interests shall not apply to any other property or assets of any of the Debtor or its subsidiaries; and View More

Permitted Liens. Means (i) Liens for taxes, governmental charges or levies which (a) are not yet due and payable, or (b) are being diligently contested in good faith by appropriate proceedings; provided, that for any such taxes being diligently contested in good faith, the Company has set aside adequate reserves, (ii) Liens imposed by law, such as mechanic's, materialman's, landlord's, warehouseman's and carrier's liens, securing obligations incurred in the ordinary course of business which are not yet overdue... or which are being diligently contested in good faith by appropriate proceeding and, with respect to such obligations which are being contested, for which the Company has set aside adequate reserves, (iii) Liens securing Senior Debt, (iv) Liens which (x) secure obligations of less than $15,000,000 in the aggregate and (y) do not, individually or in the aggregate, interfere with the use and enjoyment of the property subject thereto and (z) Liens created in favor of General Electric Capital Corporation pursuant to the GECC Payment Agreement. View More

Permitted Liens. Means (i) the Security Interest, (ii) covenants, restrictions, rights, easements and minor irregularities in title which do not materially interfere with NMLP's business or operations as presently conducted, (iii) Liens in existence on the date hereof and described on Exhibit A hereto, and (iv) as to after acquired property, any Liens subject to which such property is acquired.

Permitted Liens. Means (i) the Security Interest, (ii) covenants, restrictions, rights, easements and minor irregularities in title which do not materially interfere with the Corporate Guarantor's business or operations as presently conducted, and (iii) Liens in existence on the date hereof and described on Exhibit B hereto, (iv) purchase money Liens relating to the acquisition or lease of vehicles, machinery and equipment of the Corporate Guarantor not exceeding the lesser of cost or fair market value thereof,... in the ordinary course of business, and so long as no Default Period is then in existence and none would exist immediately after such acquisition, (v) liens for taxes, assessments, or other governmental charges which are not delinquent or which are being contested in good faith and for which adequate reserves have been established in accordance with GAAP, and (vi) liens of mechanics, materialmen, warehousemen, carriers or other similar statutory liens securing obligations that are not yet due and are incurred in the ordinary course of business. View More

Permitted Liens. The liens, if any listed on Exhibit 1.2.7.