Common use of Permitted Lien Clause in Contracts

Permitted Lien. (i) any security interest or Lien at any time granted in favor of Lenders under the Loan Documents; (ii) Liens securing claims of materialmen, mechanics, carriers, warehousemen, landlords and other similar Persons for labor, materials, supplies or rentals incurred in the ordinary course of a Borrower’s business; (iii) Liens resulting from deposits made in the ordinary course of business in connection with workers compensation, unemployment insurance, social security and other similar laws; and (iv) Liens on the Collateral agreed to in writing by the Lenders. Person: any individual, sole proprietorship, partnership, joint venture, trust, unincorporated organization, association, corporation, institution, entity, party, or government (including, any agency, instrumentality or division thereof).