Permitted Liabilities definition

Permitted Liabilities means (a) all Contractual Obligations under the Loan Documents, (b) all taxes, assessments and governmental charges levied upon the Borrower or upon its income, profits or property, (c) all costs and expenses of the Independent Manager, (d) any other liabilities or obligations of any nature expressly allowed to be incurred by the Borrower pursuant to the definition of “Special Purpose Entity”, (e) liabilities and obligations incurred in the ordinary course of business or in connection with transactions not prohibited under the Loan Documents and (f) costs and expenses relating to the administration, ownership, management and Disposition of Permitted Assets which (A) do not exceed, at the date of determination, a maximum amount equal to $200,000 and (B) are paid within thirty (30) days of the date incurred, or, if later, invoiced.

Permitted Liabilities has the meaning ascribed thereto in Section 3.10(c).

Permitted Liabilities means (a) all Contractual Obligations under the Loan Documents, (b) all taxes, assessments and governmental charges levied upon the Borrower or upon its income, profits or property, (c) all costs and expenses of the Independent Manager, (d) any other liabilities or obligations of any nature expressly allowed to be incurred by the Borrower pursuant to the definition of “Special Purpose Entity”, (e) liabilities and obligations incurred in the ordinary course of business or in connection with transactions not prohibited under the Loan Documents and (f) costs and expenses relating to the administration, ownership, management and Disposition of the Permitted Assets which (A) do not exceed, at the date of determination, a maximum amount equal to $200,000 and (B) are paid within thirty (30) days of the date incurred, or, if later, invoiced.

Examples of Permitted Liabilities in a sentence

• The Borrower shall not create, incur, assume or suffer to exist any Indebtedness, other than Permitted Liabilities.

• Other than the Loan Documents, any other agreements not prohibited under the Loan Documents (including agreements with respect to Permitted Liabilities), the Borrower’s Organization Documents, Permissible Transfer Restrictions and the documents whereby the Borrower acquired the Pledged Shares and other Collateral, the Borrower is not, nor has it been since its formation, a party to any contract or other agreement or arrangement.

• The Sellers acknowledge and agree that the Purchase Price has been calculated, and is being paid, based on the agreement that the Company will have paid in full immediately prior to the Closing all liabilities and obligations of the Company other than the Permitted Liabilities.

• As of the date of Closing, the Corporations will not have any Liabilities, other than Permitted Liabilities and Permitted Liens except for Liabilities incurred in the ordinary course of business and as set forth in Schedule 2.15.

• Other than trade payables, capital leases, and bonds posted for work completion incurred in the ordinary course of business, the Obligors shall not be permitted to incur debt in addition to the Obligations and the Permitted Liabilities without the prior written consent of the Required Lenders.

More Definitions of Permitted Liabilities

Permitted Liabilities means Liabilities owed to trade creditors, to governmental entities for payroll and personal property taxes and other like Liabilities incurred in the Ordinary Course of Business not in excess of One Thousand Dollars ($1,000).

Permitted Liabilities means (a) all Contractual Obligations under the Loan Documents and the Other Margin Loan Documents, (b) all taxes, assessments and governmental charges levied upon the Borrower or upon its income, profits or property, (c) all costs and expenses of the Independent Manager, (d) any other liabilities or obligations of any nature expressly allowed to be incurred by the Borrower pursuant to the definition of “Special Purpose Entity” and (e) liabilities and obligations incurred in the ordinary course of business relating to the administration, ownership and management of the Collateral and the collateral for the Other Margin Loans which (A) do not exceed, at the date of determination, a maximum amount equal to the lesser of (x) two percent (2%) of the aggregate amount of the Loans and the Other Margin Loans then outstanding and (y) $200,000 and (B) are paid within thirty (30) days of the date incurred or, if later, invoiced.

Permitted Liabilities means the following:

Permitted Liabilities means Issuer’s liabilities pursuant to any Transaction Document, in each case other than (i) any liability resulting from a breach or misrepresentation by Issuer or any other event that would constitute a default, event of default or other termination event (howsoever described) under any Transaction Document or (ii) inadvertent liabilities, not to exceed $10,000.00 in the aggregate outstanding at any one time.

Permitted Liabilities means the liabilities and obligations described in clauses (i), (ii) and (iv) of Section 3.13.

Permitted Liabilities means (a) the Obligations, (b) Subordinated Debt, (c) liabilities arising in the ordinary course of business, such as trade accounts payable, taxes payable, operating lease obligations and customer deposits, (d) reimbursement obligations under surety bonds, (e) monies owed pursuant to the terms of any Hedge Agreements that are contracted by the Borrowers with respect to the Obligations, and (f) Permitted Other Liabilities not exceeding the sum of (i) $25,000,000 and (ii) the potential liability for “breakage” under the terms of any Hedge Agreement entered into with respect to Permitted Other Liabilities; provided, however, the foregoing limit on Permitted Other Liabilities shall not apply from and after any date that the Lenders elect not to extend the Maturity Date.

Permitted Liabilities means any amounts incurred or payable by the Company in respect of operating costs (excluding those costs and expenses and other liabilities subject to the SIHNV Commitment), finance costs (excluding the Consenting June Interest Claims and Consenting July Interest Claims), applicable legal fees (including any such fees payable pursuant to this Letter), directors’ compensation, tax costs and insurance and any other costs that are required to be incurred by the Company to maintain its corporate existence provided that these amounts do not in aggregate exceed EUR 23,000,000 in the period from 1 June 2018 up to and including 20 July 2018.