AGGREGATE IN ANY FISCAL YEAR, PROVIDED THAT NO SUCH CASH
INVESTMENT MAY BE MADE IF AN EVENT OF DEFAULT IS THEN OCCURRING OR WOULD
OTHERWISE UPON THE MAKING THEREOF;
(G)
INVESTMENTS PURSUANT TO OR ARISING UNDER
CURRENCY AGREEMENTS OR INTEREST RATE AGREEMENTS ENTERED INTO IN THE ORDINARY
COURSE OF BUSINESS;
(H)
INVESTMENTS CONSISTING OF DEPOSIT ACCOUNTS
AND SECURITIES ACCOUNTS OF BORROWER, SUBJECT TO THE COMPLIANCE BY BORROWER WITH
THE COVENANT SET FORTH IN SECTION 6.6 HEREOF;
(I)
INVESTMENTS OF SUBSIDIARIES IN OR TO
OTHER SUBSIDIARIES OF BORROWER AND INVESTMENTS BY BORROWER IN SUBSIDIARIES NOT
TO EXCEED $ 50,000 IN THE AGGREGATE IN ANY FISCAL YEAR, PROVIDED THAT NO
INVESTMENTS BY BORROWER IN SUBSIDIARIES MAY BE MADE IF AN EVENT OF DEFAULT IS
THEN OCCURRING OR WOULD OTHERWISE UPON THE MAKING THEREOF; AND
(J)
OTHER INVESTMENTS NOT OTHERWISE
PERMITTED BY SECTION 7.6 NOT EXCEEDING $50,000 IN THE AGGREGATE OUTSTANDING AT
ANY TIME.
"Permitted Liens" are:
(A)
LIENS EXISTING ON THE EFFECTIVE DATE AND
SHOWN ON THE PERFECTION CERTIFICATE OR ARISING UNDER THIS AGREEMENT OR OTHER
LOAN DOCUMENTS, INCLUDING LIENS IN FAVOR OF EITHER LENDER;
(B)
LIENS FOR TAXES, FEES, ASSESSMENTS OR OTHER
GOVERNMENT CHARGES OR LEVIES, EITHER NOT DELINQUENT OR BEING CONTESTED IN GOOD
FAITH AND FOR WHICH BORROWER MAINTAINS ADEQUATE RESERVES ON ITS BOOKS, IF THEY
HAVE NO PRIORITY OVER ANY OF LENDERS' SECURITY INTERESTS;
(C)
PURCHASE MONEY LIENS (AND INCLUDING FOR
PURPOSES OF THIS CLAUSE LIENS INCURRED IN CONNECTION WITH CAPITAL LEASES) (I) ON
EQUIPMENT ACQUIRED OR HELD BY BORROWER INCURRED FOR FINANCING THE ACQUISITION OF
THE EQUIPMENT, OR (II) EXISTING ON EQUIPMENT WHEN ACQUIRED, IF THE LIEN IS
CONFINED TO THE PROPERTY AND IMPROVEMENTS AND THE PROCEEDS OF THE EQUIPMENT;
(D)
LEASES OR SUBLEASES AND LICENSES OR
SUBLICENSES GRANTED IN THE ORDINARY COURSE OF BORROWER'S BUSINESS;
(E)
MATERIALMEN'S, MECHANIC'S, REPAIRMEN'S,
EMPLOYEE'S OR OTHER LIKE LIENS ARISING IN THE ORDINARY COURSE OF BUSINESS AND
WHICH ARE NOT DELINQUENT;
(F)
BANKER'S LIENS, RIGHTS OF SETOFF AND
SIMILAR LIENS INCURRED ON DEPOSITS MADE IN THE ORDINARY COURSE OF BUSINESS
SUBJECT TO BORROWER'S COMPLIANCE WITH SECTION 6.6 HEREOF;
(G)
LIENS ARISING FROM JUDGMENTS, DECREES OR
ATTACHMENTS IN CIRCUMSTANCES NOT CONSTITUTING AN EVENT OF DEFAULT UNDER SECTIONS
8.4 OR 8.7;
(H)
LIENS IN FAVOR OF OTHER FINANCIAL
INSTITUTIONS ARISING IN CONNECTION WITH BORROWER'S DEPOSIT ACCOUNTS OR
SECURITIES ACCOUNTS HELD AT SUCH INSTITUTIONS TO SECURE PAYMENT OF FEES AND
SIMILAR COSTS AND EXPENSES SUBJECT TO BORROWER'S COMPLIANCE WITH SECTION 6.6
HEREOF;
25
(I)
LIENS TO SECURE PAYMENT OF WORKER'S
COMPENSATION, EMPLOYMENT INSURANCE, OLD AGE PENSIONS OR OTHER SOCIAL SECURITY
OBLIGATIONS OF BORROWER IN EACH CASE ARISING IN THE ORDINARY COURSE OF BUSINESS
OF BORROWER;
(J)
EASEMENTS, RESERVATIONS, RIGHTS-OF-WAY,
RESTRICTIONS, MINOR DEFECTS OR IRREGULARITIES IN TITLE AND SIMILAR CHARGES OR
ENCUMBRANCES AFFECTING REAL PROPERTY NOT CONSTITUTING A MATERIAL ADVERSE EFFECT
ON THE BUSINESS OR CONDITION (FINANCIAL OR OTHERWISE) OF BORROWER OR OTHERWISE
MATERIALLY IMPAIRING THE CONDUCT OF BORROWER'S BUSINESS; AND
(K)
LIENS INCURRED IN THE EXTENSION, RENEWAL OR
REFINANCING OF THE INDEBTEDNESS SECURED BY