Permitted Equity Encumbrances definition

Permitted Equity Encumbrances means Liens for taxes, assessments or governmental charges which are (a) immaterial to the Company and its Subsidiaries, taken as a whole, (b) not overdue for a period of more than thirty (30) days or (c) being contested in good faith and by appropriate actions or proceedings diligently conducted (which actions or proceedings have the effect of preventing the forfeiture or sale of the property or assets subject to any such Lien), if adequate reserves with respect thereto are maintained on the books of the applicable Person in accordance with GAAP.

Permitted Equity Encumbrances means: (a) those restrictions on transfer imposed by applicable securities laws; (b) Liens or restrictions imposed on transfers set forth in the Constitutive Documents of the issuer; and (c) Liens created pursuant to, and securing any Indebtedness under, the Financing Documents.

Permitted Equity Encumbrances means Liens for taxes, assessments or governmental charges which are (a) immaterial to the Borrower and its Subsidiaries, taken as a whole, (b) not overdue for a period of more than thirty (30) days or (c) being contested in good faith and by appropriate actions or proceedings diligently conducted (which actions or proceedings have the effect of preventing the forfeiture or sale of the property or assets subject to any such Lien), if adequate reserves with respect thereto are maintained on the books of the applicable Person in accordance with GAAP.

Examples of Permitted Equity Encumbrances in a sentence

• Any Collateral Document after delivery thereof pursuant to Section 4.01 or 6.12 shall for any reason (other than pursuant to the terms thereof) cease to create a valid and perfected first priority Lien (subject to Permitted Equity Encumbrances) on the Collateral purported to be covered thereby.

• Each Borrowing Base Property, the Equity Interests in each Direct Owner thereof and each Indirect Owner of each Direct Owner, and the right to any income from and any proceeds of any of the foregoing, are subject to no Liens other than Permitted Property Encumbrances, in the case of Borrowing Base Properties (or any income therefrom or any proceeds thereof), and Permitted Equity Encumbrances in the case of Equity Interests (or any income therefrom or any proceeds thereof).

• As of the Closing Date, all of the outstanding Equity Interests in each Subsidiary that is a Loan Party have been validly issued, are fully paid and nonassessable and are owned by a Loan Party in the amounts specified on Part (a) of Schedule 5.13 free and clear of all Liens other than Permitted Equity Encumbrances.

• The provisions of the Collateral Documents are effective to create in favor of the Administrative Agent for the benefit of the Secured Parties a legal, valid and enforceable first priority Lien (subject only to Permitted Equity Encumbrances) on all right, title and interest of the respective Grantors in the Collateral described therein.

More Definitions of Permitted Equity Encumbrances

Permitted Equity Encumbrances means, with respect to any Equity Securities, (a) the provisions of the applicable Organizational Documents, and (b) the restrictions on the sale, transfer, pledge, or other disposition of securities provided in the Securities Act and any state or “blue sky” securities laws.

Permitted Equity Encumbrances. (a) Liens and Negative Pledges pursuant to any Loan Document;

Permitted Equity Encumbrances means with respect to any Equity Securities of the Acquired Companies, (a) the provisions of the Organizational Documents of the Acquired Companies; (b) the restrictions on the sale, transfer, pledge, or other disposition of securities provided in the Securities Act and any state or “blue sky” securities Laws; (c) any restrictions imposed by Buyer or this Agreement; or (d) any liens as set forth on Schedule 1.01(c).

Permitted Equity Encumbrances means, collectively:

Permitted Equity Encumbrances means with respect to any equity securities of the Company, (a) the provisions of the organizational documents of the Company; (b) the restrictions on the sale, transfer, pledge, or other disposition of securities provided in the Securities Act and any state or “blue sky” securities Laws; and (c) any restrictions imposed by Buyer or this Agreement.

Permitted Equity Encumbrances means (s) Liens securing judgments for the payment of money not constituting an Event of Default under Section 8.01(h);

Permitted Equity Encumbrances means (a) those restrictions on transfer imposed by applicable securities laws, (b) Liens or restrictions imposed on transfers set forth in the Constitutive Documents of the Company or any Rosie Entity, (c) in the case of the equity interests in, and assets of, TE HoldCo, Project HoldCo or the Project Company, Liens created pursuant to, and securing any Indebtedness under, the Financing Documents, and (d) Liens or restrictions imposed on transfers set forth in the Tax Equity Agreement.