Permitted Charge definition

Permitted Charge means a Permitted Lien to the extent that its priority over the Security Interest created hereby would not (a) cause a breach of any representation or warranty of the Borrower in Section 3(c), or (b) violate any covenant of the Borrower in Section 4(h).

Permitted Charge means a Permitted Lien to the extent that such Permitted Lien is, to the extent permitted pursuant to Section 3(c) of this Security Agreement, senior to the Security Interest created hereby.

Permitted Charge has the meaning given to such term in the Initial Subscription Agreement.

Examples of Permitted Charge in a sentence

• Tenant hereby waives any right of action against Obligo for damages or other claims arising from the processing of any Permitted Charge by Obligo in accordance with the terms of this Agreement.

• Correct and complete copies of all the Equipment Leases and related contracts, agreements and other documentation in respect of the Permitted Charge have been provided to S&N.

• However, if Tenant disputes a Permitted Charge processed by Obligo, then Landlord and Tenant are solely responsible for resolving the dispute.

• Obligo may, in its sole discretion, communicate with Landlord and Tenant regarding a Permitted Charge or a dispute, but in doing so would not assume any responsibility nor liability for the outcome of the dispute.

• The Borrower shall not, and shall not permit any Subsidiary to, create, incur, assume or permit to exist any Charge, other than a Permitted Charge, on any of its property, undertaking or assets now owned or hereafter acquired.

More Definitions of Permitted Charge

Permitted Charge. (a) A fixed charge on the Company’s property in favor of a third party (including a leasing company) that shall have given and/or will give credit for the purchase of such property to secure that credit only; (b) The delivery, assignment or endorsement from time to time of documents and/or notes in connection with the export or import of goods to a bank or to a third party for the financing of such export or import to secure that credit only; (c) Any pledge/charge or assignment by way of charge of contracts signed between the Company and its customers, including monies due and/or which shall be due to the Company from its customers pursuant to such agreements, in favor of any third party who will give credit for the financing of the purchase of stock or goods for performance of such agreement to secure that credit only; the sum total of the Permitted Charges as aforesaid shall not at any point in time exceed a cumulative amount equal to 20% of the Company’s annual turnover.

Permitted Charge means the fixed and floating charge and any other Security Interest, given by the Chargor over any part of the Charged Property to the Permitted Chargee dated on or about the date of this deed.

Permitted Charge means the permitted charge defined in clause 16.5(b). Permitted Chargee means the permitted chargee defined in clause 16.5(b)(i). Previous Shareholders' Agreement has the meaning given in the Recital.

Permitted Charge means, with respect to any Person:

Permitted Charge means the security interest granted by the Vendor to De Xxxx Xxxxxx Financial Services Canada Inc. in respect of an Equipment Lease and registered at Alberta Personal Property Registry on June 21, 2006 as Registration Number 06062138265;

Permitted Charge means a an amount of money that Tenant is deemed to owe a Landlord, whereby Landlord issues a request to charge an amount of money from the Holding Deposit, Security Deposit, and/or a Billing Authorization, as permitted by applicable law and the Lease Agreement, for damage to the Rental Property, failure to move-in/sign the lease, failure to pay rent, utilities, etc.

Permitted Charge means a second ranking security interest to be executed by the Borrower in favour of Cygnet Ventures Limited such security being subject to the Inter-Creditor Agreement and described in the Third Schedule thereto;