Permitted Encumbrances definition
Permitted Encumbrances means:
Permitted Encumbrances has the meaning set forth in Section 3.10(a).
Permitted Encumbrances means (a) liens for taxes not yet due or delinquent or the validity or amount of which is being contested in good faith by appropriate proceedings and for which adequate accruals or reserves have been established in accordance with GAAP on the applicable financial statements; (b) mechanics’, materialmens’, carriers’, workers’, repairers’ and other similar Encumbrances or security obligations incurred in the ordinary course of business and arising by operation of law or the validity or amount of which is being contested in good faith by appropriate proceedings; (c) pledges, deposits or other Encumbrances securing the performance of bids, trade Contracts, leases or statutory obligations (including workers’ compensation, unemployment insurance or other social security legislation); (d) Encumbrances and other imperfections of title that do not materially impair the use or occupancy of the property to which they relate in the conduct of the business of the Company and its Subsidiaries as currently conducted; (e) Encumbrances arising under conditional sales Contracts and equipment leases with third parties and other Encumbrances arising on assets and products sold in the ordinary course of business consistent with past practice and non-exclusive licenses of Intellectual Property entered into in the ordinary course of business consistent with past practice; (f) landlords’ liens and Encumbrances on leases, subleases, easements, licenses, rights of use, rights to access and rights of way arising therefrom or benefiting or created by any superior estate, right or interest; (g) any zoning, entitlement, conservation restriction and other land use and environmental regulations by governmental authorities; (h) all covenants, conditions, restrictions, easements, charges, rights-of-way and other similar matters of record or that would be disclosed by an accurate survey or inspection of the real property, in each case that do not materially impair the use or occupancy of the property to which they relate in the conduct of the business of the Company and its Subsidiaries as currently conducted; (i) Encumbrances identified in the financial statements included or incorporated by reference in the Commission Documents; (j) Encumbrances created or incurred under the equipment financing arrangements or equipment loans; and (k) Encumbrances on equity or debt securities resulting from applicable securities laws.
Examples of Permitted Encumbrances in a sentence
Buyer’s failure to deliver an Objection Notice on or before the Title Review Deadline shall be deemed ▇▇▇▇▇’s irrevocable acceptance of all matters disclosed thereby, and all such matters shall constitute Permitted Encumbrances.
More Definitions of Permitted Encumbrances
Permitted Encumbrances means any of the following:
Permitted Encumbrances means, with respect to or upon any Acquired Assets, any (1) easement, encroachment, license, right of way, defects or imperfections in title, charges, restrictions, encumbrances or similar reservation or grant or cloud on title; (2) Liens arising prior to the Closing Date with respect to Taxes that are not yet due; (3) Assumed Liabilities; (4) zoning, entitlement and other land use by any Governmental Authority provided that such regulations have not been violated; (5) obligations under Environmental Laws; (6) Liens securing the performance of bids, tenders, leases, contracts (other than for the repayment of debt), statutory obligations, surety, customs and appeal bonds and other obligations of like nature, incurred as an incident to and in the ordinary course of the Business; (7) Liens imposed by law, such as carriers', warehouseman's, mechanics', materialmen's, landlords', laborers', suppliers' and vendors' Liens, incurred in good faith in the ordinary course of the Business and securing obligations (but not including Liens with respect to current Taxes, assessments or other governmental charges, which are addressed in (2) above); (8) extensions, renewals and replacements of Liens referred to in (1), (3), (4) and (5) of this sentence; and (9) extensions, renewals and replacements of Liens referred to in clauses (2), (6) and (7) of this sentence; provided, that any such extension, renewal or replacement Lien referred to in (8) and (9) of this sentence shall be limited to the property or assets covered by the Lien so extended, renewed or replaced and that the obligations secured by any such extension, renewal or replacement Lien shall be in an amount not greater than the amount of the obligations secured by the original Lien so extended, renewed or replaced. Notwithstanding the foregoing, any encumbrance otherwise included in (1), (4), (5) and (8) of the preceding sentence which, individually or in the aggregate, has a Material Adverse Effect on the Business or on the current use of such Acquired Asset in the operation of the Business, shall not be deemed to be a Permitted Encumbrance hereunder.
Permitted Encumbrances has the meaning specified in the Mortgages.
Permitted Encumbrances shall not include any Lien securing Indebtedness.
Permitted Encumbrances means the following:
Permitted Encumbrances means the following types of Liens (excluding any such Lien imposed pursuant to Section 401(a)(29) or 412(n) of the Internal Revenue Code or by ERISA, any such Lien relating to or imposed in connection with any Environmental Claim, and any such Lien expressly prohibited by any applicable terms of any of the Collateral Documents):
Permitted Encumbrances shall have the meaning set forth in Section 2.05(a) hereof.