Contested Collateral Lien Conditions definition

Contested Collateral Lien Conditions means, with respect to any Permitted Lien of the type described in clauses (a), (b), (e) and (f) of Section 6.02, the following conditions:

Contested Collateral Lien Conditions means the following conditions:

Contested Collateral Lien Conditions means with respect to a Lien (a) any proceeding instituted contesting such Lien shall conclusively operate to stay the sale or forfeiture of any portion of the Collateral on account of such Lien; and (b) in the event the liabilities secured by such Lien shall exceed $5,000,000, at the option and upon request of the applicable Collateral Agent, Crown Holdings or the applicable Subsidiary shall either obtain a bond or maintain cash reserves, in either case, in an amount sufficient to pay and discharge such Lien and the applicable Collateral Agent’s reasonable estimate of all interest and penalties related thereto.

Examples of Contested Collateral Lien Conditions in a sentence

• Notwithstanding the foregoing, such Pledgor may at its own expense contest the validity, amount or applicability of any Charges so long as the contest thereof shall satisfy the Contested Collateral Lien Conditions.

• Notwithstanding the foregoing, each Pledgor may at its own expense contest the validity, amount or applicability of any Claims so long as the contest thereof shall satisfy the Contested Collateral Lien Conditions.

• Any contest of any such obligation shall satisfy the Contested Collateral Lien Conditions (as defined in the Credit Agreement).

• Any contest of any such obligation shall satisfy the Contested Collateral Lien Conditions.

• Each of the Borrowers, the Guarantor and their respective Subsidiaries have paid all material taxes and governmental charges due, except any such taxes or charges which are being diligently contested in good faith by appropriate proceedings and adequately disclosed and for which adequate reserves in accordance with GAAP shall have been set aside on its books; provided that any such contest of taxes or charges with respect to Collateral shall satisfy the Contested Collateral Lien Conditions.

More Definitions of Contested Collateral Lien Conditions

Contested Collateral Lien Conditions means, with respect to any Permitted Lien of the type described in clauses (a), (b), (e) and (f) of SECTION 6.02, the following conditions:

Contested Collateral Lien Conditions with respect to any Permitted Lien of the type described in subsections 8.2 (c), (d) and (i), the following conditions:

Contested Collateral Lien Conditions means (a) any proceeding instituted contesting such Lien shall conclusively operate to stay the sale or forfeiture of any portion of the Collateral on account of such Lien; and (b) in the event the amount of any such Lien shall exceed $1.0 million, at the option and upon request of the Collateral Agent if the Collateral Agent determines that it is necessary or desirable to prevent the sale or forfeiture of any portion of the Collateral, the Company or the applicable Subsidiary shall either obtain a bond or maintain cash reserves, in either case, in an amount sufficient to pay and discharge such Lien and the Collateral Agent’s reasonable estimate of all interest and penalties related thereto.

Contested Collateral Lien Conditions means (a) any proceeding instituted contesting such Lien shall conclusively operate to stay the sale or forfeiture of any portion of the Collateral on account of such Lien; and (b) in the event the amount of any such Lien shall exceed $2.0 million, the Loan Party or its applicable Subsidiary shall either obtain a bond or maintain cash reserves, in either case, in an amount sufficient to pay and discharge such Lien and the Collateral Agent’s reasonable estimate of all interest and penalties related thereto.

Contested Collateral Lien Conditions means (a) with respect to any proceeding instituted contesting any amount payable by any Loan Party or any of its Subsidiaries, such proceeding operates to stay the sale or forfeiture of any portion of the Collateral on account of such Lien; and (b) in the event the amount of any such Lien shall exceed $2.0 million, the Loan Party or its applicable Subsidiary shall either

Contested Collateral Lien Conditions means, with respect to any ------------------------------------ Permitted Customary Liens of the type described in clause (a), (b), (c) or (d) of the definition of Permitted Customary Liens or otherwise described in Section 9.03 hereof, that any proceeding instituted contesting such Lien shall conclusively operate to stay the sale or forfeiture of any portion of the Collateral on account of such Lien.

Contested Collateral Lien Conditions means, with respect to any Permitted Encumbrance of the type described in clauses (a), (b), (d) and (h) of the definition of Permitted Encumbrances, the following conditions: