Permissible Liens means Liens (i) for Taxes, assessments and other governmental charges or levies (1) not yet due or (2) which are being contested in good faith by appropriate action and as to which adequate reserves for contested amounts have been set aside in accordance with GAAP or (ii) created under the Securitization Documents.
Permissible Liens means Liens for Taxes not yet due and payable.
Permissible Liens means (a) restrictions or imperfections of title that do not materially detract from the value or impair the use of the Acquired Asset, and (b) Liens (i) for taxes, assessments and other governmental charges or levies (1) not yet due or (2) which are being contested in good faith by appropriate action and as to which adequate reserves for contested amounts have been set aside in accordance with GAAP, (ii) created under the Securitization Documents or (iii) created to secure the obligations arising upon or after the Merger Closing under any Merger Financing Arrangement, provided that such Liens shall be released at or prior to the Closing.
Examples of Permissible Liens in a sentence
Except for Permissible Liens, Subcontractor must immediately discharge, vacate, release and remove of record any and all liens on or affecting the Project or Project Site by agreement with the claimant or by posting sufficient security or bond to substitute for the lien.
This Agreement shall, following the Second Closing Date, and subject to the filing of appropriate financing statements and all required continuations, amendments and replacements thereof, vest in the Purchaser all right, title and interest in and to (Y) the GE/Macy's Accounts and (Z) the Gross Receivables on the GE/Macy's Accounts and the Employee Accounts that but for clause (ii) of the definition of GE/Macy's Accounts would be GE/Macy's Accounts, free and clear of all Liens other than Permissible Liens.
More Definitions of Permissible Liens
Permissible Liens means (a) with respect to those Acquired Assets that are Personal Property, restrictions or imperfections of title that do not materially detract from the value or impair the use of any Acquired Asset and (b) Liens for taxes, assessments and other governmental charges or levies not yet due or which are being contested in good faith by appropriate action.
Permissible Liens means Liens for taxes, assessments and other governmental charges or levies not yet due or which are being contested in good faith by appropriate action.
Permissible Liens means, with respect to any Transferred Asset, (i) any minor imperfection of title with respect to such asset which does not materially affect the full use and enjoyment of such asset for the purposes for which it is currently used or detract from its value, (ii) the exceptions to title set forth on the title policies (or title commitments) identified on Schedule 1.1 hereto and obtained by GHI in connection with the acquisition of the Owned Real Property and the Leasehold Estates, (iii) Taxes not yet due and payable, (iv) such matters as set forth on the surveys (if any) delivered by Transferors to GHI with respect to the Owned Real Property and Leasehold Estates and (v) mechanics' liens for maintenance or other work that has been performed on any of the Transferred Assets.
Permissible Liens means Liens (i) for Taxes, assessments and other governmental charges or levies (1) not yet due or (2) which are being contested in good faith by appropriate action and as to which adequate reserves for contested amounts have been set aside in accordance with GAAP and as set forth on Schedule 3.1(m), or (ii) that will have lapsed or been terminated or will lapse or terminate prior to the Closing.
Permissible Liens means, with respect to any Asset, (i) the exceptions to title identified on Schedule 1.1(b) hereto, (ii) taxes not yet due and payable as set forth on Schedule 1.1(b), (iii) such matters as set forth on the surveys (if any) delivered by Seller to Purchaser with respect to the Owned Real Property, (iv) laws and governmental regulations that affect the use and maintenance of the Owned Real Property, provided that they are not violated by the buildings and improvements constituting the Owned Real Property, (v) the consents for the erection of any structures on, under or above any streets on which the Owned Real Property abuts as set forth on Schedule 1.1(b), (vi) the notices of violation of law or municipal ordinances, orders or requirements issued by any Governmental Agency as set forth on Schedule 1.1(b), (vii) liens for Taxes, assessments, water and sewer rents not yet due and payable as set forth on Schedule 1.1(b) (viii) utility lines, sewer lines and railroad rights of way affecting the Owned Real Property as set forth on Schedule 1.1(b); and (ix) minor imperfections of title, if any, none of which is substantial in amount, materially detracts from the value or impairs the use of the Owned Real Property or impairs the operations of the Business.
Permissible Liens means Liens for Taxes not yet due and payable and those Liens created or evidenced by the financing statements described in S chedule N.
Permissible Liens means, with respect to any Asset, (i) the exceptions to title identified on Schedule 1.1(b) hereto, (ii) taxes not yet due and payable as set forth on Schedule 1.1(b), (iii) such matters as set forth on the surveys (if any) delivered by Seller to Purchaser with respect to the Owned Real Property, (iv) laws and governmental regulations that affect the use and maintenance of the Owned Real Property, provided that they are not violated by the buildings and improvements constituting the Owned Real Property, (v) the consents for the erection of any structures on, under or above any streets on which the Owned Real Property abuts as set forth on Schedule 1.1(b), (vi) the notices of violation of law or municipal ordinances, orders or requirements issued by any Governmental Agency as set forth on Schedule 1.1(b), (vii) liens for Taxes, assessments, water and sewer rents not yet due and payable as set forth on Schedule 1.1(b) and (viii) utility lines, sewer lines and railroad rights of way affecting the Owned Real Property as set forth on Schedule 1.1(b).