Permitted Liabilities definition

Permitted Liabilities means (a) all Contractual Obligations under the Loan Documents, (b) all taxes, assessments and governmental charges levied upon the Borrower or upon its income, profits or property, (c) all costs and expenses of the Independent Manager, (d) any other liabilities or obligations of any nature expressly allowed to be incurred by the Borrower pursuant to the definition of “Special Purpose Entity”, (e) liabilities and obligations incurred in the ordinary course of business or in connection with transactions not prohibited under the Loan Documents and (f) costs and expenses relating to the administration, ownership, management and Disposition of Permitted Assets which (A) do not exceed, at the date of determination, a maximum amount equal to $200,000 and (B) are paid within thirty (30) days of the date incurred, or, if later, invoiced.

Permitted Liabilities has the meaning ascribed thereto in Section 3.10(c).

Permitted Liabilities means Liabilities owed to trade creditors, to governmental entities for payroll and personal property taxes and other like Liabilities incurred in the Ordinary Course of Business not in excess of One Thousand Dollars ($1,000).

Examples of Permitted Liabilities in a sentence

• The Borrower shall not create, incur, assume or suffer to exist any Indebtedness, other than Permitted Liabilities.

• Other than the Loan Documents, any other agreements not prohibited under the Loan Documents (including agreements with respect to Permitted Liabilities), the Borrower’s Organization Documents, Permissible Transfer Restrictions and the documents whereby the Borrower acquired the Pledged Shares and other Collateral, the Borrower is not, nor has it been since its formation, a party to any contract or other agreement or arrangement.

• As of the date of Closing, the Corporations will not have any Liabilities, other than Permitted Liabilities and Permitted Liens except for Liabilities incurred in the ordinary course of business and as set forth in Schedule 2.15.

• Other than trade payables, capital leases, and bonds posted for work completion incurred in the ordinary course of business, the Obligors shall not be permitted to incur debt in addition to the Obligations and the Permitted Liabilities without the prior written consent of the Required Lenders.

• On the Closing Date, the Buyer shall not have any Liabilities other than Permitted Liabilities unless the Seller’s written consent thereto shall have been delivered by the Seller to the Buyer prior to the Closing.

More Definitions of Permitted Liabilities

Permitted Liabilities means (a) all Contractual Obligations under the Loan Documents and the Other Margin Loan Documents, (b) all taxes, assessments and governmental charges levied upon the Borrower or upon its income, profits or property, (c) all costs and expenses of the Independent Manager, (d) any other liabilities or obligations of any nature expressly allowed to be incurred by the Borrower pursuant to the definition of “Special Purpose Entity” and (e) liabilities and obligations incurred in the ordinary course of business relating to the administration, ownership and management of the Collateral and the collateral for the Other Margin Loans which (A) do not exceed, at the date of determination, a maximum amount equal to the lesser of (x) two percent (2%) of the aggregate amount of the Loans and the Other Margin Loans then outstanding and (y) $200,000 and (B) are paid within thirty (30) days of the date incurred or, if later, invoiced.

Permitted Liabilities means Issuer’s liabilities pursuant to any Transaction Document, in each case other than (i) any liability resulting from a breach or misrepresentation by Issuer or any other event that would constitute a default, event of default or other termination event (howsoever described) under any Transaction Document or (ii) inadvertent liabilities, not to exceed $10,000.00 in the aggregate outstanding at any one time.

Permitted Liabilities means the following:

Permitted Liabilities means the liabilities and obligations described in clauses (i), (ii) and (iv) of Section 3.13.

Permitted Liabilities mean (A) costs, obligations or liabilities that would constitute Transaction Expenses, (B) obligations or liabilities (as opposed to costs) that are immaterial in nature, taking into account that the primary business of the Company following the Closing is not related to the LO2A Business, and (C) costs, obligations or liabilities that are executory in nature and are primarily related to the corporate existence of the Company or the Wize Subsidiaries or the due authorization (and required third party consents) of the action being authorized and/or representations and warranties regarding, if applicable, financial statements of the Company or the Wize Subsidiaries (subject to customary materiality qualifications) if such financial statements cover periods beyond the Effective Time.

Permitted Liabilities means (a) the Obligations, (b) Subordinated Debt, (c) liabilities arising in the ordinary course of business, such as trade accounts payable, taxes payable, operating lease obligations and customer deposits, (d) reimbursement obligations under surety bonds, (e) monies owed pursuant to the terms of any Hedge Agreements that are contracted by the Borrowers with respect to the Obligations, and (f) Permitted Other Liabilities not exceeding the sum of (i) $25,000,000 and (ii) the potential liability for “breakage” under the terms of any Hedge Agreement entered into with respect to Permitted Other Liabilities; provided, however, the foregoing limit on Permitted Other Liabilities shall not apply from and after any date that the Lenders elect not to extend the Maturity Date.

Permitted Liabilities means Trade Payables and Employment Liabilities.