Excepted Property. During a Highest Oversight Period, the Borrower shall take all actions necessary to include in the Trust Estate, subject to the first lien of the Indenture, the Excepted Property designated in writing by the Government; provided, however, the Borrower shall not be required to subject to the lien of the Indenture cash and/or securities held for working capital purposes in an amount up to the greater of (i) twenty five percent (25%) of the Borrower’s aggregate cost of operation and maintenance for the preceding twelve (12) calendar month period or (ii) the Borrower’s aggregate cost of operation and maintenance for three (3) consecutive calendar months designated by the Borrower during such preceding twelve (12) calendar month period as shown on RUS Form 12(a), lines 14 and 19.
Excepted Property. There is, however, expressly excepted and excluded from the security interest and operation of this Security Agreement the following described property of the Company, now owned or hereafter acquired (collectively, the "Excepted Property"):
(A) All cash on hand or in banks or other financial institutions (excluding proceeds of the Trust Estate, including the Collateral, in which the security interest created by the Indenture or this Security Agreement continues to be perfected pursuant to the Uniform Commercial Code, for so long as such perfection continues, and also excluding amounts deposited or required to be deposited with the Trustee pursuant to the Indenture) claims, choses in action and judgments, contracts and contract rights (except to the extent set forth in Section 3(A) of this Security Agreement), shares, stocks, interests, participations or other equivalents (including, without limitation, any interest of the Company in the National Rural Utilities Cooperative Finance Corporation or in CoBank, ACB, but excluding shares of stock or other ownership interests of the Company in any Subsidiary then issuing Designated Qualifying Securities), Undesignated Qualifying Securities, allowances for emissions or similar rights granted by any governmental authority, bonds, notes, repurchase agreements, evidences of indebtedness and other securities and instruments, bills, patents, patent licenses and other patent rights, patent applications, service marks, trade names and trademarks, other than (i) Pledged Securities, (ii) Designated Qualifying Securities and (iii) any other property referred to in this paragraph which is specifically described in Section 3(A) of this Security Agreement or is by the express provisions of this Security Agreement or the Indenture subjected or required to be subjected to the lien hereof or thereof;
(B) all automobiles, buses, trucks, truck cranes, tractors, trailers, rolling stock, railcars and similar vehicles and movable equipment, and all parts, tools, accessories and supplies used in connection with any of the foregoing;
(C) all vessels, boats, barges and other marine equipment, all airplanes, airplane engines and other flight equipment, and all parts, tools, accessories and supplies used in connection with any of the foregoing;
(D) all goods, inventory, wares and merchandise acquired or produced for the purpose of resale in the ordinary course of business, all materials and supplies and other personal property, other than ...
Excepted Property. Anything in this Trust Agreement to the ----------------- contrary notwithstanding, any amounts or payments constituting Excepted Property received by the Owner Trustee shall be paid promptly by the Owner Trustee to the Person to whom such amounts or payments are payable pursuant to the terms of the Operative Agreements.
Excepted Property. Expressly excepting and excluding, however, from the Lien and operation of the Indenture all Excepted Property of the Company, whether now owned or hereafter acquired; TO HAVE AND TO HOLD all such property, real, personal and mixed, unto the Trustee, its successors in trust and their assigns forever; SUBJECT, HOWEVER, to (a) Existing Liens, (b) Acquisition Liens, (c) Retained Interests and (d) any other Permitted Liens; IN TRUST, NEVERTHELESS, for the equal and ratable benefit and security of the Holders from time to time of all Outstanding Securities without any priority of any such Security over any other such Security; PROVIDED, HOWEVER, that the right, title and interest of the Trustee in and to the Mortgaged Property shall cease, terminate and become void in accordance with, and subject to the conditions set forth in, Article Eight of the Original Indenture; otherwise the Indenture, and the estate and rights thereby granted shall be and remain in full force and effect; and THE PARTIES HEREBY FURTHER COVENANT AND AGREE as follows:
Excepted Property. 3 Section 3.5
Excepted Property. 2 ARTICLE ONE DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION............5
Excepted Property. 2 ARTICLE ONE DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION...........6
Excepted Property. The Company shall not indemnify the Insured under Sections 1 to 3 against any loss in respect of:
(a) glass other than fixed glass, china, earthenware, marble, or other fragile or brittle objects;
(b) jewellery, precious stones, precious metals, bullion, furs, curiosities, works of art, or rare books;
(c) Money; other than loss caused by a Defined Peril and not otherwise excluded.
Excepted Property. Expressly excepting and excluding, however, from the Lien of this Indenture all right, title and interest of the Company in and to the following property, whether now owned or hereafter acquired (herein sometimes called "Excepted Property"):
Excepted Property. Indenture Trustee shall deliver any Excepted Property received by it to whomsoever is lawfully entitled to the same.
