Permissible Liens definition

Permissible Liens means Liens (i) for Taxes, assessments and other governmental charges or levies (1) not yet due or (2) which are being contested in good faith by appropriate action and as to which adequate reserves for contested amounts have been set aside in accordance with GAAP or (ii) created under the Securitization Documents.

Permissible Liens means Liens for Taxes not yet due and payable.

Permissible Liens means (a) restrictions or imperfections of title that do not materially detract from the value or impair the use of the Acquired Asset, and (b) Liens (i) for taxes, assessments and other governmental charges or levies (1) not yet due or (2) which are being contested in good faith by appropriate action and as to which adequate reserves for contested amounts have been set aside in accordance with GAAP, (ii) created under the Securitization Documents or (iii) created to secure the obligations arising upon or after the Merger Closing under any Merger Financing Arrangement, provided that such Liens shall be released at or prior to the Closing.

Examples of Permissible Liens in a sentence

• On the terms and subject to the conditions of this Agreement, at the First Closing and effective from and after the First Closing Date, the Sellers shall sell, convey and assign (or cause their Subsidiaries to sell, convey and assign) to the Purchaser, free and clear of all Liens, except Permissible Liens, and the Purchaser shall purchase, the FDS Assets and the Prime Stock.

• Other than Permissible Liens or as set forth on Schedule 4.4, Seller has not granted any purchase options or rights of first refusal or first offer with respect to the Owned Real Property and the Owned Real Property is not subject to any such options or rights.

• A Seller has good title to or a valid leasehold interest in, or is licensed or otherwise entitled to use, all of the Acquired Assets (other than the Accounts, to which Section 4.1(j) is applicable), free and clear of all Liens other than Permissible Liens.

• On the terms and subject to the conditions of this Agreement, at the Third Closing and effective from and after the Third Closing Date, the Sellers shall or shall cause May Bank to sell, convey and assign to Purchaser, free and clear of all Liens, except Permissible Liens, the May Assets, and the Purchaser shall purchase the May Assets.

• Except as set forth on Schedule 4.5 hereto, Seller has good title to all of the personal property owned by Seller and included in the Assets, free and clear of any and all Encumbrances, except for Permissible Liens.

More Definitions of Permissible Liens

Permissible Liens means (a) with respect to those Acquired Assets that are Personal Property, restrictions or imperfections of title that do not materially detract from the value or impair the use of any Acquired Asset and (b) Liens for taxes, assessments and other governmental charges or levies not yet due or which are being contested in good faith by appropriate action.

Permissible Liens means (a) Liens set forth on Schedule F and (b) Liens for taxes, assessments and other governmental charges or levies not yet due or which are being contested in good faith by appropriate action.

Permissible Liens means Liens for Taxes not yet due and payable and those Liens created or evidenced by the financing statements described in S chedule N.

Permissible Liens set forth in Section 1.1 of the Agreement is hereby deleted in its entirety and replaced with the following:

Permissible Liens means Liens for Taxes not yet due and payable and those Liens created or evidenced by the financing statements described in Schedule N.

Permissible Liens means Liens for Taxes not yet due and payable and those Liens created or evidenced by thefinancing statements described in Schedule N.

Permissible Liens means, with respect to any Asset, (i) the exceptions to title identified on Schedule 1.1(b) hereto, (ii) taxes not yet due and payable as set forth on Schedule 1.1(b), (iii) such matters as set forth on the surveys (if any) delivered by Seller to Purchaser with respect to the Owned Real Property, (iv) laws and governmental regulations that affect the use and maintenance of the Owned Real Property, provided that they are not violated by the buildings and improvements constituting the Owned Real Property, (v) the consents for the erection of any structures on, under or above any streets on which the Owned Real Property abuts as set forth on Schedule 1.1(b), (vi) the notices of violation of law or municipal ordinances, orders or requirements issued by any Governmental Agency as set forth on Schedule 1.1(b), (vii) liens for Taxes, assessments, water and sewer rents not yet due and payable as set forth on Schedule 1.1(b) and (viii) utility lines, sewer lines and railroad rights of way affecting the Owned Real Property as set forth on Schedule 1.1(b).