Excepted Certificated Equipment definition

Excepted Certificated Equipment means (a) all Certificated Equipment owned by a Credit Party (that is not subject to a Permitted Lien securing purchase money Debt or Capital Leases which are permitted hereunder) with an individual net book value of less than $35,000 but only to the extent that the aggregate net book value of Certificated Equipment constituting Excepted Certificated Equipment under this clause (a) does not exceed $2,000,000 (it being understood that all such Certificated Equipment equal to or in excess of $2,000,000 shall not be Excepted Certificated Equipment regardless of its individual net book value) and (b) all Certificated Equipment to the extent such equipment is subject to a Permitted Lien securing purchase money Debt or Capital Leases which are permitted hereunder.
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Excepted Certificated Equipment means (a) each Certificated Equipment owned by a Loan Party (that is not subject to a Permitted Lien securing purchase money Indebtedness or Capital Leases which are permitted hereunder) with an individual net book value of less than $50,000 but not to exceed $10,000,000 in the aggregate, and (b) all Certificated Equipment to the extent such Equipment is subject to a Permitted Lien securing purchase money Indebtedness or Capital Leases which are permitted hereunder.
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Examples of Excepted Certificated Equipment in a sentence

  • No Credit Party shall, nor shall it permit any of its Subsidiaries to, create, incur, assume or permit to exist any Lien on any Excepted Certificated Equipment, Excepted Real Estate Asset or other owned Real Estate Asset, other than Excepted Liens and Liens pursuant to Section 6.2(a), (f) and (i) and (to the extent subject to the Intercreditor Agreement and a Mortgage or other Security Document) Section 6.2(l).

  • No Notes Party shall, nor shall it permit any of its Subsidiaries to, create, incur, assume or permit to exist any Lien on any Excepted Certificated Equipment and Motor Vehicle, Excepted Real Estate Asset or other owned Real Estate Asset, other than Excepted Liens and Liens pursuant to Section 5.02(a), (c) and (f) and (to the extent subject to the ABL Intercreditor Agreement and a Mortgage or other Security Document) Section 5.02(h) and (i).

Related to Excepted Certificated Equipment

  • Excluded Equipment means (i) defibrillators, enhanced emergency medical kits and other medical equipment, (ii) airphones and other components or systems installed on or affixed to the Airframe that are used to provide individual telecommunications or electronic entertainment to passengers aboard the Aircraft, (iii) galley carts, beverage carts, waste containers, liquor kits, food tray carriers, ice containers, oven inserts, galley inserts, and other branded passenger convenience or service items, (iv) any items, equipment or systems leased by Company or any Permitted Lessee (other than items, equipment, or systems that are leased from Company pursuant to the applicable Lease) or owned by Company or any Permitted Lessee subject to a conditional sales agreement or a security interest (other than the security interest granted under the Indenture), and (v) cargo containers.

  • Certificated Air Carrier means an air carrier holding an air carrier operating certificate issued by the Secretary of Transportation pursuant to Chapter 447 of Title 49 of the United States Code for aircraft capable of carrying ten or more individuals or 6,000 pounds or more of cargo or that otherwise is certified or registered to the extent required to fall within the purview of Section 1110.

  • Standard equipment means the basic configuration of a vehicle which is equipped with all the features that are required under the regulatory acts of the Contracting Party including all features that are fitted without giving rise to any further specifications on configuration or equipment level.

  • Fixed Equipment means any property affixed in any way to the Licensed Premises existing at the time Notice to Proceed is given, whose removal would damage the Licensed Premises.

  • Designated Equipment means either: (i) a server identified by serial number, or host I.D. on which the Licensed Materials are stored; or (ii) a computer or workstation, as identified by its serial number, host I.D. number or Ethernet address; to which the Licensed Materials are downloaded and Used only upon the issuance of a License Key. The Designated Equipment shall be of a manufacture, make and model, and have the configuration, capacity (i.e., memory/disk), operating software version level, and pre- requisite and co-requisite applications, prescribed in the Documentation as necessary or desirable for the operation of the Software.

  • Excepted Property The meaning assigned in the Granting Clauses hereof.

  • Associated equipment means equipment that is used in conjunction with a radiographic exposure device to make radiographic exposures that drives, guides, or comes in contact with the source, e.g., guide tube, control tube, control (drive) cable, removable source stop, “J” tube and collimator when it is used as an exposure head.

  • Qualified machinery and equipment means all new industrial

  • Leased Equipment means the equipment which may include but not limited to modem provided by TM on lease basis to enable usage of the Service by the Customer, as may be decided by TM from time to time at its sole discretion.

  • Covered Equipment means, unless otherwise specified in a Schedule, Covered Property:

  • Fuel burning equipment means any furnace, boiler, apparatus, stack and all associated equipment, used in the process of burning fuel.

  • Farm equipment means equipment used directly for farming

  • Movable equipment means a hand-held or non-hand-held machine or device, powered or unpowered, that is used to do work and is moved within or between work sites.

  • Building Equipment shall have the meaning set forth in the Security Instrument.

  • Stationary x-ray equipment means x-ray equipment which is installed in a fixed location.

  • Replacement Equipment means operational equipment or other parts used by Tenant to replace any of the Equipment.

  • Purchased Equipment means any equipment, including any Software, sold by BT to the Customer.

  • Unrestricted Certificated Security means a Certificated Security that is not a Restricted Security.

  • X-ray equipment means an x-ray system, subsystem, or component thereof. Types of x-ray equipment are as follows:

  • Restricted Certificated Note means a Certificated Note bearing the Private Placement Legend.

  • Port Cargo Handling Equipment means rubber-tired gantry cranes, straddle carriers, shuttle carriers, and terminal tractors, including yard hostlers and yard tractors that operate within ports.

  • Specified Equipment means the railway vehicles which the Train Operator is entitled to use in the provision of Services on the Network, as specified in paragraph 4 of Schedule 5;

  • Excepted Liens means: (i) Liens for taxes, assessments or other governmental charges or levies not yet due or which are being contested in good faith by appropriate action and for which adequate reserves have been maintained; (ii) Liens in connection with workmen's compensation, unemployment insurance or other social security, old age pension or public liability obligations not yet due or which are being contested in good faith by appropriate action and for which adequate reserves have been maintained in accordance with GAAP; (iii) operators', vendors', carriers', warehousemen's, repairmen's, mechanics', workmen's, materialmen's, construction or other like Liens arising by operation of law in the ordinary course of business or statutory landlord's liens, each of which is in respect of obligations that have not been outstanding more than 90 days or which are being contested in good faith by appropriate proceedings and for which adequate reserves have been maintained in accordance with GAAP; (iv) any Liens reserved in leases or farmout agreements for rent or royalties and for compliance with the terms of the farmout agreements or leases in the case of leasehold estates, to the extent that any such Lien referred to in this clause does not materially impair the use of the Property covered by such Lien for the purposes for which such Property is held by the Borrower or any Subsidiary or materially impair the value of such Property subject thereto; (v) encumbrances (other than to secure the payment of borrowed money or the deferred purchase price of Property or services), easements, restrictions, servitudes, permits, conditions, covenants, exceptions or reservations in any rights of way or other Property of the Borrower or any Subsidiary for the purpose of roads, pipelines, transmission lines, transportation lines, distribution lines for the removal of gas, oil, coal or other minerals or timber, and other like purposes, or for the joint or common use of real estate, rights of way, facilities and equipment, and defects, irregularities, zoning restrictions and deficiencies in title of any rights of way or other Property which in the aggregate do not materially impair the use of such rights of way or other Property for the purposes of which such rights of way and other Property are held by the Borrower or any Subsidiary or materially impair the value of such Property subject thereto; (vi) deposits of cash or securities to secure the performance of bids, trade contracts, leases, statutory obligations and other obligations of a like nature incurred in the ordinary course of business; and (vii) Liens permitted by the Security Instruments.

  • Committed Equipment Line means a credit extension of up to Three Million Dollars ($3,000,000.00).

  • Related Equipment Note means, as of any date, an “Equipment Note” as defined in each Related Indenture, but only if as of such date it is held by the “Subordination Agent” under the “Intercreditor Agreement”, as such terms are defined in such Related Indenture.

  • Control equipment means equipment necessary for the setting and/or unsetting of an immobilizer.