Inchoate Liens definition

Inchoate Liens means (a) materialmen’s, warehousemen’s, mechanics’ and other Liens arising by operation of law in the ordinary course of business for sums not due or sums that are being contested in good faith with appropriate proceedings and (b) Liens for taxes or other governmental charges not at the time delinquent or thereafter payable without penalty or being contested in good faith with appropriate proceedings.

Inchoate Liens means inchoate Liens of the type described in Section 7.01(ii) of the Mortgage for taxes not yet due and 7.01(iii) (other than, in the case of said clause (iii), contested Liens); for the avoidance of doubt, “Inchoate Liens” shall not include any such Lien registered with the International Registry.

Inchoate Liens mean any Permitted Lien of the type described in clauses (i), (ii), (iii), (v) or (vi) of Section 7.01, except that “Inchoate Liens” shall not include any such Lien that is a Lien of record, whether filed with the FAA or any other applicable aviation authority, filed pursuant to the Uniform Commercial Code in any applicable jurisdiction or registered with the International Registry.

Examples of Inchoate Liens in a sentence

• Inchoate Liens in respect of pending litigation or with respect to a judgment which has not resulted in an Event of Default under Section 11.4.

• Such Grantor owns its Collateral free clear of any Lien, except for (a) Liens created by this Security Agreement, (b) Inchoate Liens and, (c) in the case of Collateral other than the Capital Stock of each Subsidiary pledged hereunder, Liens permitted by Section 3.5 of the Indenture.

• Model CFM56-5B5/P engine (or an engine of the same manufacturer of an equivalent or an improved model and suitable for installation and use on the Airframe and compatible with the other Engines mortgaged hereunder) free and clear of all Liens (other than Inchoate Liens) and having a value and utility at least equal to, and being in as good an operating condition, as the Engine subject to such Event of Loss, assuming such Engine was maintained in accordance with the provisions of this Mortgage.

• Model CFM56-5B5/P engine (or an engine of the same manufacturer of an equivalent or an improved model and suitable for installation and use on the Airframes and compatible with the other Engines mortgaged hereunder) free and clear of all Liens (other than Inchoate Liens) and having a value and utility at least equal to, and being in as good an operating condition, as the Engine subject to such Event of Loss, assuming such Engine was maintained in accordance with the provisions of this Mortgage.

• The Guarantor owns the Collateral free and clear of any Lien, except for Liens created by this Agreement and Inchoate Liens.

More Definitions of Inchoate Liens

Inchoate Liens mean inchoate Liens of the type described in Section 9(d)(ii) of the Credit Agreement for taxes not yet due and Section 9(d)(iii) of the Credit Agreement (other than, in the case of said clause (iii), contested Liens).

Inchoate Liens means Liens of the type set forth in clauses (f), (g), (h), (j) and (k) of Section 7.2.3 of the Credit Agreement.

Inchoate Liens means Liens of the type set forth in clause (2), (3), (9), (10), (12), (16) or (18) of the definition of Permitted Liens (as defined in the Indenture).

Inchoate Liens means any of the following Liens which by statute (i.e., through no act or omission of the Company or any of its Subsidiaries) may have priority over the Liens securing the Notes:

Inchoate Liens means liens arising under contracts customary in industry of the Company and liens with respect to vessels which, in each case, relate to obligations of the Company (or obligations of the vessel) which are not yet due or which will be paid or

Inchoate Liens mean inchoate Liens of the type described in Section 7.01(ii) for Taxes not yet due or being contested in good faith and 7.01(iii) (other than, in the case of said clause (iii), contested Liens).

Inchoate Liens means (a) Liens for Taxes not yet due and payable, (b) mechanic’s Liens and materialmen’s Liens for services and materials for which payments are not yet due or which are being contested in good faith by appropriate proceedings, and (c) landlord’s Liens for rental payments not yet due and payable.