Collateral Permitted Liens definition

Collateral Permitted Liens means Liens (a) for Taxes or other obligations or requirements owing to or imposed by Governmental Authorities existing or having priority, as applicable, by operation of law, in each case either (i) not yet overdue or (ii) being contested in good faith by appropriate proceedings by the Company or any of its Subsidiaries, as the case may be, provided that adequate reserves with respect to such contested Taxes or other obligations or requirements are maintained on the books of the Company or the applicable Subsidiary of the Company, as the case may be, to the extent required by and in conformity with GAAP, and no enforcement action shall have been taken toward foreclosure on the Collateral pursuant to such Liens; (b) for judgments or orders that do not constitute an Event of Default under paragraph (g) of Article 7; (c) created under the Security Documents; or (d) in existence on the Effective Date.

Collateral Permitted Liens means any of the following:

Collateral Permitted Liens means Liens of the types described in clauses (v), (viii), (xi)(A), (xii), (xiv), (xvi), (xvii) and (xviii) of the definition of the term "Permitted Liens."

Examples of Collateral Permitted Liens in a sentence

• Each Company has good title to, or valid leasehold interests in, all its property material to its business, free and clear of all Liens except for, in the case of Collateral, Permitted Liens and, in the case of all other material property, Permitted Liens and minor irregularities or deficiencies in title that, individually or in the aggregate, do not interfere in any material respect with its ability to conduct its business as currently conducted or to utilize such property for its intended purpose.

• The Company will not and will not cause or permit any of its Restricted Subsidiaries to, directly or indirectly, create, incur, assume or otherwise cause or suffer to exist or become effective any Lien of any kind securing Indebtedness upon any of their property or assets, now owned or hereafter acquired, except (i) in the case of any property or asset that does not constitute Collateral, Permitted Liens and (ii) in the case of any property or asset that constitutes Collateral, Permitted Collateral Liens.

• Each Credit Related Party that owns Restricted Equity Interests has good title to its respective Restricted Equity Interests, free and clear of all Liens or other encumbrances, except for Collateral Permitted Liens.

• The Company shall not, and shall not permit any of its Restricted Subsidiaries to, directly or indirectly, create, incur, assume or suffer to exist any Lien against or upon any of the Collateral or any proceeds therefrom or assign or convey any right to receive income therefrom for purposes of security, except Collateral Permitted Liens.

• The provisions of the Collateral Documents are effective to create in favor of the Collateral Agent for the benefit of the Secured Parties a legal, valid and enforceable first priority Lien (subject, as to priority, to (i) to the extent encumbering ABL Priority Collateral, Permitted Liens described in Section 7.01(l) and (ii) to the extent having priority by operation of law, other Permitted Liens) on all right, title and interest of the respective Loan Parties in the Collateral described therein.

More Definitions of Collateral Permitted Liens

Collateral Permitted Liens shall have the meaning specified in the Master Collateral and Intercreditor Agreement.

Collateral Permitted Liens means Liens specifically described on Schedule IX-1.

Collateral Permitted Liens means any Permitted Lien set forth in clause (a) or (b) of the definition of Permitted Liens.

Collateral Permitted Liens means all of the following:

Collateral Permitted Liens means, at any date, the Liens set forth in Schedule IV hereto, to the extent permitted by the applicable provisions, if any, of each of the Voting Creditor Documents as of such date (after giving effect to any waivers or amendments thereto).

Collateral Permitted Liens means, without duplication, Liens of the type described in clauses (a), (b), (e), (g), (h), (k), (l), (m) and (o) of the definition of the term "Permitted Liens" and in clause (p) of such definition to the extent that the Lien subject to the refinancing is included within any of the foregoing clauses; provided, however, that the Liens with respect to the Tandem Mill Collateral will be released under the conditions set forth in Section 5.6(b) of this Agreement in connection with a sale and leaseback transaction.

Collateral Permitted Liens means, with respect to any Collateral, the Liens set forth in clauses (a), (c), (e) and (f) of Section 4.12 hereof, but only to the extent permitted on such Collateral by the provisions of the Indenture, including without limitation Section 13.1 hereof, and the applicable Security Documents.