Specified Permitted Liens definition

Specified Permitted Liens means the Liens permitted under Sections 10.2.2(a) and 10.2.2(r) of the Credit Agreement, provided that such Liens on the Collateral securing the obligations of the Obligors under the Term Loan Documents remain subject to the Intercreditor Agreement.

Specified Permitted Liens means (a) nonconsensual Liens arising by operation of law (including Permitted Encumbrances, but excluding Permitted Encumbrances securing Indebtedness), (b) Liens permitted by Section 7.2(e), Section 7.2(f) (except to the extent such Liens are required to be subordinated to the Liens securing the Obligations pursuant to such Section 7.2(f)) and Section 7.2(g), and (c) Liens on cash collateral for letters of credit permitted pursuant to Section 7.1(a)(xix).

Specified Permitted Liens means Liens permitted pursuant to clauses (w), (x), (y) and (z) of Section 10.01. “Start Date” shall have the meaning provided in the definition of Applicable Margin.

Examples of Specified Permitted Liens in a sentence

• The Securities will be secured by a second priority security interest (subject to Specified Permitted Liens) on the Collateral.

• As of the Closing Date, such Grantor is the direct, sole beneficial owner and sole holder of record of the Pledged Securities listed on Exhibit D as being owned by it, free and clear of any Liens, except for the security interest granted to the Collateral Agent for the benefit of the Lenders hereunder, Permitted Encumbrances and Specified Permitted Liens.

• Such Grantor will not create, incur, or suffer to exist any Lien on the Collateral owned by it except for the Specified Permitted Liens and Liens otherwise permitted by the Credit Agreement.

• All of such assets are free and clear of Liens except for (i) in the case of Eligible Whole Aircraft Collateral and Eligible Whole Engine Collateral, Specified Permitted Liens, and (ii) otherwise, Permitted Liens.

• If the Guaranty and Security Agreement or any other Loan Document that purports to create a Lien, shall, for any reason, fail or cease to create a valid and perfected and, (except to the extent of Specified Permitted Liens) first priority Lien on the Collateral covered thereby, except as a result of (a) a disposition of the applicable Collateral in a transaction permitted under this Agreement; or (b) an action taken or not taken that is solely in the control of Agent.

More Definitions of Specified Permitted Liens

Specified Permitted Liens means Liens permitted pursuant to clauses (w), (x), (y) and (z) of Section 10.01.

Specified Permitted Liens means any Liens permitted under clauses (a), (c), (d), (e), (f), (n), (p), (w) and (y) (in the case of extensions, renewals or refinancings of Indebtedness incurred pursuant to Section 9.01(c) only) of Section 9.02.

Specified Permitted Liens means Liens described in clauses (a), (e), (f), (j) and (r) of the definition of Permitted Liens.

Specified Permitted Liens means Liens permitted by clauses (b)(ii), (d), (e), (k) and (o)(i) of Section 6.02.

Specified Permitted Liens means Permitted Liens, other than any Liens described in clause (9), (10) or (11).

Specified Permitted Liens means (i) with respect to Eligible Whole Aircraft Collateral and Eligible Whole Engine Collateral, Permitted Liens described in items (a), (b) or (g) of the definition of “Permitted Liens,” Statutory Liens and Lease Transaction Liens, and (ii) otherwise, Permitted Liens which are non-consensual Permitted Liens, permitted purchase money Liens or the interests of lessors under Capital Leases.

Specified Permitted Liens means, collectively and without duplication, (a) the Liens granted by the Credit Parties pursuant to the Specified Prepetition Indebtedness Documents as in effect on the Closing Date and (b) Liens permitted under Section 6.02(k).