Permitted Liens; Financing Statements. (a) The Borrowers will not create, incur or suffer to exist any Lien upon or of any of their assets, now owned or hereafter acquired, to secure any indebtedness; excluding, however, from the operation of the foregoing, the following (each a "Permitted Lien"; collectively, "Permitted Liens"):
(i) In the case of any of the Borrowers' property which is not Collateral, covenants, restrictions, rights, easements and minor irregularities in title which do not materially interfere with the Borrowers' business or operations as presently conducted;
(ii) Liens in existence on the date hereof and listed in Schedule 6.3 hereto, securing indebtedness for borrowed money permitted under this Agreement;
(iii) The Security Interest and Liens created by the Security Documents; and
(iv) Purchase money Liens relating to the acquisition of machinery and equipment of the Borrowers not exceeding the lesser of cost or fair market value thereof and so long as no Default Period is then in existence and none would exist immediately after such acquisition.
(b) The Borrowers will not amend any financing statements in favor of the Lender except as permitted by law. Any authorization by the Lender to any Person to amend financing statements in favor of the Lender shall be in writing.
Permitted Liens; Financing Statements. (a) The Borrower will not create, incur or suffer to exist any Lien upon or of any of its assets, now owned or hereafter acquired, to secure any indebtedness; excluding, however, from the operation of the foregoing, the following (each a “Permitted Lien”; collectively, “Permitted Liens”):
(i) In the case of any of the Borrower’s property which is not Collateral, covenants, restrictions, rights, easements and minor irregularities in title which do not materially interfere with the Borrower’s business or operations as presently conducted;
(ii) Liens in existence on the date hereof and listed in Schedule 6.3 hereto, securing indebtedness for borrowed money permitted under Section 6.4;
(iii) The Security Interest and Liens created by the Security Documents and other liens in favor of the Lender or the Lender’s affiliates;
(iv) Purchase money Liens relating to indebtedness or capitalized lease obligations for the acquisition of machinery and equipment of the Borrower not exceeding the lesser of cost or fair market value thereof and so long as no Default Period is then in existence and none would exist immediately after such acquisition;
(v) mortgages, pledges, liens or security interests in that certain real property located at 0000 Xxxxxx Xxxx Xxxxx, Xxxxxxxx, Xxxxxxxxx, provided, however, that Borrower shall have obtained the prior written consent of Lender, which consent shall not be unreasonably withheld, and provided that there is not an Event of Default;
(vi) Liens on property or assets acquired pursuant to a permitted acquisition under Section 6.17 provided that such Liens do not attach to any other asset of the Borrower or any of its Subsidiaries;
(vii) Liens in favor of customs and revenue authorities arising as a matter of law to secure payment of customs duties in connection with the importation of goods;
(viii) Liens encumbering leasehold improvements and fixtures granted in favor of Borrower’s landlords pursuant to leases;
(ix) inchoate Liens for taxes, assessments or governmental charges or levies not yet due or Liens for taxes, assessments or governmental charges or levies being contested in good faith and by appropriate proceedings for which adequate reserves have been established in accordance with GAAP; and
(x) Liens in respect of property or assets of any Borrower imposed by law, which were incurred in the ordinary course of business and do not secure Indebtedness for borrowed money, such as carriers’, warehousemen’s, materialmen’s and mechan...
Permitted Liens; Financing Statements. (a) BNC and Borrower will not, and will not permit any other Credit Party to, create, incur or suffer to exist any Lien upon or of any of its assets, now owned or hereafter acquired, to secure any indebtedness; excluding, however, from the operation of the foregoing, the following (each a “Permitted Lien”; collectively, “Permitted Liens”):
(i) In the case of any of BNC’s or Borrower’s property which is not Collateral, covenants, restrictions, rights, easements and minor irregularities in title which do not materially interfere with BNC’s or Borrower’s business or operations as presently conducted;
(ii) Liens in existence on the date hereof and listed in Schedule 6.3 hereto, securing indebtedness for borrowed money permitted under Section 6.4 and renewals and extensions (but not increases, refinancings, or other amendments affecting more than the extension of the term of the indebtedness) of such indebtedness;
(iii) The Security Interest and Liens created by the Security Documents; and
(iv) Purchase money Liens relating to the acquisition of machinery and equipment of Borrower not exceeding the lesser of cost or fair market value thereof, not exceeding $2,000,000 in the aggregate during any fiscal year, and so long as no Default Period is then in existence and none would exist immediately after such acquisition;
(v) Liens imposed by law for taxes that are not yet due or are being contested in compliance with Section 6.12;
(vi) carriers’, warehousemen’s, mechanics’, materialmen’s repairmen’s and other like Liens imposed by law, arising in the ordinary course of business and securing obligations that are not overdue or are being contested in compliance with Section 6.12, and in any event, no action to exercise or enforce such Lien has been commenced;
(vii) pledges and deposits made in the ordinary course of business in compliance with workers’ compensation, unemployment insurance and other social security laws or regulations; and
(viii) deposits to secure the performance of bids, trade contracts, leases, statutory obligations, surety and appeal bonds, performance bonds and other obligations (other than obligations for the repayment of Indebtedness, but excluding from this exception the deposit account reflected on Schedule 5.18 securing a bank guarantee issued on behalf of Amegy Bank N.A. to ICICI Bank Limited on behalf of BNC (the “Bank Guarantee”)) of like nature, in each case arising in the ordinary course of business and not being secured by the Collatera...
Permitted Liens; Financing Statements. Section 6.5.
Permitted Liens; Financing Statements. (a) The Borrower will not, and will not permit any Subsidiary to, create, incur or suffer to exist any Lien upon or of any of its assets, now owned or hereafter acquired, to secure any indebtedness; excluding, however, from the operation of the foregoing, the following (collectively, "Permitted Liens"):
(i) In the case of any of the Real Property, covenants, restrictions, rights, easements and minor irregularities in title which do not (A) materially interfere with the use of the Real Property or (B) diminish the value of the Real Property;
(ii) Liens in existence on the date hereof and listed in SCHEDULE 6.2 hereto;
(iii) the Security Interest and Liens created by the Security Documents; and
(iv) if a Related Borrower becomes a Subsidiary of the Borrower, Liens of such Person expressly permitted by the terms of the Related Credit Facility Agreement.
(b) The Borrower will not, and will not permit any Subsidiary to, amend any financing statements in favor of the Lender except as permitted by law. Any authorization by the Lender to any Person to amend financing statements in favor of the Lender shall be in writing.
Permitted Liens; Financing Statements. (a) The Borrower will not create, incur or suffer to exist any Lien other than Permitted Liens upon or of any of its assets, now owned or hereafter acquired, to secure any Debt.
(b) The Borrower will not amend any financing statements in favor of the Lender except as permitted by law.
Permitted Liens; Financing Statements. (a) No Borrower will create, incur or suffer to exist any Lien upon or of any of the Collateral, now owned or hereafter acquired, to secure any indebtedness; excluding, however, from the operation of the foregoing, the following (collectively, "Permitted Liens"):
(i) Liens in existence on the date hereof and listed in Schedule 6.3 hereto, securing indebtedness for borrowed money permitted under Section 6.4; and
(ii) the Security Interest and Liens created by the Security Documents.
(b) No Borrower will amend any financing statements in favor of the Lender except as permitted by law. Any authorization by the Lender to any Person to amend financing statements in favor of the Lender shall be in writing.
Permitted Liens; Financing Statements. (a) The Borrower will not create, incur or suffer to exist any Lien upon any of its assets, now owned or hereafter acquired, to secure any indebtedness; excluding, however, from the operation of the foregoing, the following (each a “Permitted Lien” and collectively, the “Permitted Liens”):
(i) Liens in existence on the date of this Agreement and that are listed in Schedule 6.2 attached hereto;
(ii) the Security Interest and Liens created by this Agreement; and
(iii) Liens for taxes not yet due and payable or for taxes being contested in good faith by appropriate proceedings which are sufficient to prevent imminent foreclosure of such Liens.
(b) The Borrower will not amend any financing statements in favor of the Agent except as permitted by law.
