Permitted Security Interests definition

Permitted Security Interests means (i) any Security Interest for taxes, assessments or governmental charges or levies which relate to obligations not yet due and delinquent, (ii) easements, servitudes, encroachments and other minor imperfections of title which do not, individually or in the aggregate, detract from the value of or impair the use or marketability of any real property, and (iii) undetermined or inchoate Security Interests arising or potentially arising under statutory provisions which have not at the relevant time been filed or registered in accordance with applicable laws or of which written notice has not been given in accordance with applicable laws;

Permitted Security Interests means, in relation to the Ship, any Security Interest over it which is:

Permitted Security Interests means, in relation to any Mortgaged Ship, any Security Interest over it which is:

Examples of Permitted Security Interests in a sentence

• As at the Initial Issue Date, there is no Security Interest on the Equipment or any of its present or future revenues or assets other than Permitted Security Interests.

• The Seller shall not sell, assign (by operation of law or otherwise) or otherwise dispose of, or create or suffer to exist any Adverse Claim, other than Adverse Claims in favour of the Purchaser or which are Permitted Security Interests, upon or with respect to, any or all of the Purchased Assets (including without limitation upon or with respect to any account to which any Collections are deposited) except as herein provided or as provided in the Security Sharing Agreement.

• So long as any Bond remains outstanding, the Issuer will not, directly or indirectly, create, incur, assume or permit to exist any Security Interest, except for Permitted Security Interests, on or with respect to the whole or any part of its undertaking or property or any interest therein or any income or profits therefrom to secure any Indebtedness.

• The Vendors must procure that, within 10 Business Days after the Completion Date, each Security Interest Holder registers a Financing Change Statement as required under the PPSA to reflect the release of the relevant Assets from all Security Interests other than Permitted Security Interests.

• Other than Permitted Security Interests, the Company may not create or allow to exist any Security Interest on any of its assets, so long as the aggregate principal amount secured by all such Security Interest (other than Permitted Security Interests) does not, at any time, exceed RMB100,000,000 (or its equivalent in any other currencies).

More Definitions of Permitted Security Interests

Permitted Security Interests means any:

Permitted Security Interests has the meaning set forth in Section 4.11.

Permitted Security Interests means, in relation to any Charged Property, any Security Interest over it which is:

Permitted Security Interests means any Security Interest which is:

Permitted Security Interests means the Security Interests detailed in Schedule 1.28 attached hereto;

Permitted Security Interests means (i) Security Interests imposed by Applicable Law for taxes that are not yet due or are being contested in good faith by appropriate proceedings and adequate reserves with respect thereto in accordance with US GAAP have been established by Alon Brands, (ii) carriers’, warehousemen’s, mechanics’, materialmen’s, repairmen’s, landlords’ and other like Security Interests imposed by law, arising in the ordinary course of business and securing obligations that are not overdue by more than 30 days or are being contested in good faith by appropriate proceedings and Alon Brands shall set aside on its books adequate reserves with respect thereto in accordance with US GAAP, provided that no such Security Interest shall secure any indebtedness for borrowed money; (iii) pledges and deposits made in the ordinary course of business in compliance with workers’ compensation, unemployment insurance and other social security laws or regulations; (iv) deposits to secure the performance of bids, trade contracts, leases, statutory obligations, surety and appeal bonds, performance bonds and other obligations of a like nature, in each case in the ordinary course of business; (v) Security Interests in respect of judgments that do not constitute an Event of Default under clause (6) of Section 6(a) hereof; (vi) easements, zoning restrictions, rights-of-way and similar encumbrances on real property imposed by law or arising in the ordinary course of business that do not secure any monetary obligations and do not materially detract from the value of the affected property or interfere with the ordinary conduct of business of Alon Brands; (vii) any Security Interest that is set forth on Exhibit 2(i) and exists as of the date hereof on any property or asset of Alon Brands; provided that (x) such Security Interest shall not attach to any other property or asset of Alon Brands and (y) such Security Interest shall secure only the Debt or other obligations which it secures on the date hereof and extensions, renewals and replacements thereof that do not increase the outstanding principal amount thereof or result in an earlier maturity date; and (viii) Security Interests securing Debt or obligations permitted by Section 4(n) hereof to be created, incurred, assumed or to exist.

Permitted Security Interests means "Permitted Liens" as such term is defined in the Credit Agreement.