Permitted Charges definition
Permitted Charges means the Charges created by the Security Documents and, with respect to any Person:
Permitted Charges means (a) mechanic’s, materialmen’s, carriers’, repairers’ and other similar statutory Charges arising or incurred in the Ordinary Course for amounts that are not yet delinquent or are being contested in good faith by appropriate Proceedings and for which sufficient reserves have been established in accordance with IFRS, (b) Charges for Taxes, assessments or other governmental charges or otherwise arising by operation of law in respect of obligations not yet due and payable as of the Closing or which have been postponed or are being contested in good faith by appropriate Proceedings and for which sufficient reserves have been established in accordance with IFRS, (c) pledges or deposits made in the Ordinary Course in connection with bids, tenders, leases or contracts or to comply with the requirements of any legislation or regulation applicable to the Company and the Guarantors or their business or assets, (d) encumbrances and restrictions on real property (including easements, covenants, conditions, rights of way and similar restrictions) that do not prohibit or materially interfere with any of the Group Companies’ use or occupancy of such real property, (e) zoning, building codes and other land use Laws regulating the use or occupancy of real property or the activities conducted thereon which are imposed by any Governmental Entity having jurisdiction over such real property and which are not violated by the use or occupancy of such real property or the operation of the businesses of the Group Company and do not prohibit or materially interfere with any of the Group Companies’ use or occupancy of such real property, (f) cash deposits or cash pledges to secure the payment of workers’ compensation, unemployment insurance, social security benefits or obligations arising under similar Laws or to secure the performance of public or statutory obligations, surety or appeal bonds, and other obligations of a like nature, in each case in the Ordinary Course and which are not yet due and payable, (g) non-exclusive licenses of Group Company Owned Intellectual Property granted to customers and vendors in the Ordinary Course, on standard terms and conditions, (h) the IQ Security so long as subject to the IQ Intercreditor Agreement, (i) the Desjardins Security so long as subject to the Desjardins Intercreditor Agreement, (j) the Note Security, (k) fixed pledges over deposits in the bank accounts of Vayavision in favour of Bank Hapoalim Inc. and Bank Leumi le-Israel B.M. ...
Permitted Charges means, with respect to any property or asset of any person, the following Charges:
Examples of Permitted Charges in a sentence
Each member of the VL Group has good, valid and marketable title to all of its properties and assets, free and clear of any Charges other than Permitted Charges.
Create, assume, enter into or permit to subsist, directly or indirectly, any Charge on the property of any member of the VL Group, other than Permitted Charges.
The Security and Charges created, evidenced or constituted by or under the Security Documents bind each member of the VL Group which is a party thereto, are valid and subject to no Charge, other than the Permitted Charges, and are enforceable, as security for the performance of the obligations secured thereunder, in accordance with their respective terms, against the members of the VL Group which are parties thereto.
On the Closing Date, all of the shares of: (a) the Borrower are owned, directly or indirectly, by Quebecor Media Inc.; and (b) each of the Guarantors are owned, directly or indirectly, by the Borrower, free and clear of any Charges other than Permitted Charges.
On the Sixth Amendment Closing Date, all of the shares of the Borrower and each of the Guarantors (other than Quebecor Media Inc.) are owned, directly or indirectly, by Quebecor Media Inc., free and clear of any Charges, other than Permitted Charges; following the Sixth Amendment Closing Date, no Change of Control has occurred and the shares of the Borrower and each of the Guarantors (other than Quebecor Media Inc.) owned, directly or indirectly, by Quebecor Media Inc.
More Definitions of Permitted Charges
Permitted Charges means any:
Permitted Charges means, collectively, the following
0.0.0.1 security presently existing or hereafter created in favour or for the benefit of the CREDITOR;
2.1.16.1 the security listed in Schedule "A" hereto;
2.1.16.2 inchoate or statutory liens for taxes, assessments or governmental charges which have not been assessed and are not delinquent, or if assessed, are being contested in good faith by appropriate proceedings and provided that in any such case, the effect of such proceedings is to stay any enforcement or the CREDITOR has been provided with security satisfactory to it in an amount sufficient to satisfy such liens;
0.0.0.2 minor title defects or irregularities not in the aggregate materially and adversely affecting the use of the property to which they relate;
0.0.0.3 other encumbrances which are, from time to time, expressly permitted in writing by the CREDITOR, including those permitted pursuant to the terms of the CREDITOR AGREEMENT;
Permitted Charges means:
(a) the Security;
(b) any Liens affecting property acquired by Borrower, any Credit Party or any Guarantor as specific security for the financing or acquisition of such specific property and affecting no other property of Borrower or any Credit Party whatsoever;
(c) inchoate or statutory Liens or Encumbrances for taxes, assessments or government charges which have not been assessed or claimed and are not delinquent or, if assessed and claimed, are being contested in good faith by appropriate proceedings and provided that, in such case, either the effect of such proceedings is to stay any enforcement or Lender has been provided with security in form and substance satisfactory to it in an amount to satisfy such Lien or Encumbrance;
(d) minor title defects or irregularities not in the aggregate materially and adversely affecting the use of the property of Borrower or any Credit Party to which they relate;
(e) Liens which are the object of an Intercreditor Agreement or a Priority Agreement between Lender and the holder of such Liens, in form and substance satisfactory to Lender;
(f) Liens or Encumbrances which are being diligently contested by Borrower or any Credit Party in good faith, in respect of which Lender has been furnished with security to cover the consequences of such Encumbrances, in form, substance and amount satisfactory to Lender; and,
(g) any Liens or Encumbrances exhaustively enumerated in the Contract Data Sheet as well as any other Liens or Encumbrances which may, in the future, be expressly permitted by Lender in writing at its discretion.
Permitted Charges means any Charges for taxes, assessments or governmental claims or other impositions not yet due or matured;
Permitted Charges means, collectively, the following: the security presently existing or hereafter created in favour or for the benefit of the lender;
Permitted Charges means (i) Charges for taxes and assessments or governmental charges not yet due or which are being contested in good faith and by appropriate proceedings and for which adequate reserves have been established and which are accurately reflected in the Financial Statements; (ii) Charges in favor of landlords, carriers, warehousemen, mechanics, workmen and materialmen and construction or similar liens arising by operation of law or incurred in the ordinary course of business for sums not yet due or that are being contested in good faith and for which adequate reserves have been established and which are accurately reflected in the Financial Statements; (iii) Charges in respect of pledges or deposits under worker's compensation laws or similar legislation, unemployment insurance or other types of social security or to secure the performance of tenders, statutory obligations, surety and special Bonds, bids, leases, government contracts, performance and return of money Bonds and similar obligations, each of which is accurately reflected in the Financial Statements; (iv) Charges reflected in the Financial Statements; (v) Charges to be discharged at or prior to Closing; (vi) rights reserved to or vested in any governmental authority to control or regulate any Real Property or interests therein in any manner, and all laws of any governmental authority; (vii) Charges related to the Debt Instruments; and (viii) with respect to real property used or held for mining purposes, easements, rights-of-way and other Charges typically found on real property used for mining purposes, which Charges do not materially impair mining operations conducted on, under or upon any parcel or parcels of such Real Property.
Permitted Charges means such term as defined on Appendix II.