OBLIGATIONS
INCURRED PRIOR TO SUCH DATE AND WHICH INDEBTEDNESS AND OTHER OBLIGATIONS ARE
PERMITTED HEREUNDER THAT REQUIRE A PLEDGE OF AFTER ACQUIRED PROPERTY, IT BEING
UNDERSTOOD THAT SUCH REQUIREMENT SHALL NOT BE PERMITTED TO APPLY TO ANY PROPERTY
TO WHICH SUCH
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REQUIREMENT WOULD NOT HAVE APPLIED BUT FOR SUCH ACQUISITION), (II) SUCH LIEN IS
NOT CREATED IN CONTEMPLATION OF OR IN CONNECTION WITH SUCH ACQUISITION AND
(III) IN THE CASE OF A LIEN SECURING PERMITTED REFINANCING INDEBTEDNESS, ANY
SUCH LIEN IS PERMITTED, SUBJECT TO COMPLIANCE WITH CLAUSE (E) OF THE DEFINITION
OF THE TERM "PERMITTED REFINANCING INDEBTEDNESS";
(D)
LIENS FOR TAXES, ASSESSMENTS OR OTHER GOVERNMENTAL CHARGES OR LEVIES
NOT YET DELINQUENT OR THAT ARE BEING CONTESTED IN COMPLIANCE WITH SECTION 5.03;
(E)
LIENS IMPOSED BY LAW, SUCH AS LANDLORD'S, CARRIERS', WAREHOUSEMEN'S,
MECHANICS', MATERIALMEN'S, REPAIRMEN'S, CONSTRUCTION OR OTHER LIKE LIENS ARISING
IN THE ORDINARY COURSE OF BUSINESS AND SECURING OBLIGATIONS THAT ARE NOT OVERDUE
BY MORE THAN 30 DAYS OR THAT ARE BEING CONTESTED IN GOOD FAITH BY APPROPRIATE
PROCEEDINGS AND IN RESPECT OF WHICH, IF APPLICABLE, THE COMPANY OR ANY
SUBSIDIARY SHALL HAVE SET ASIDE ON ITS BOOKS RESERVES IN ACCORDANCE WITH GAAP;
(F)
(I) PLEDGES AND DEPOSITS AND OTHER LIENS WITH RESPECT TO PROPERTY
OTHER THAN ACCOUNTS AND INVENTORY MADE IN THE ORDINARY COURSE OF BUSINESS IN
COMPLIANCE WITH THE FEDERAL EMPLOYERS LIABILITY ACT OR ANY OTHER WORKERS'
COMPENSATION, UNEMPLOYMENT INSURANCE AND OTHER SOCIAL SECURITY LAWS OR
REGULATIONS AND DEPOSITS SECURING LIABILITY TO INSURANCE CARRIERS UNDER
INSURANCE OR SELF‐INSURANCE ARRANGEMENTS IN RESPECT OF SUCH OBLIGATIONS AND
(II) PLEDGES AND DEPOSITS AND OTHER LIENS WITH RESPECT TO PROPERTY OTHER THAN
ACCOUNTS AND INVENTORY SECURING LIABILITY FOR REIMBURSEMENT OR INDEMNIFICATION
OBLIGATIONS OF (INCLUDING OBLIGATIONS IN RESPECT OF LETTERS OF CREDIT OR BANK
GUARANTEES FOR THE BENEFIT OF) INSURANCE CARRIERS PROVIDING PROPERTY, CASUALTY
OR LIABILITY INSURANCE TO THE COMPANY OR ANY SUBSIDIARY;
(G)
DEPOSITS TO SECURE THE PERFORMANCE OF BIDS, TRADE CONTRACTS (OTHER
THAN FOR INDEBTEDNESS), LEASES (OTHER THAN CAPITAL LEASE OBLIGATIONS), STATUTORY
OBLIGATIONS, SURETY AND APPEAL BONDS, PERFORMANCE AND RETURN OF MONEY BONDS,
BIDS, LEASES, GOVERNMENT CONTRACTS, TRADE CONTRACTS, AGREEMENTS WITH UTILITIES,
AND OTHER OBLIGATIONS OF A LIKE NATURE (INCLUDING LETTERS OF CREDIT IN LIEU OF
ANY SUCH BONDS OR TO SUPPORT THE ISSUANCE THEREOF) INCURRED IN THE ORDINARY
COURSE OF BUSINESS, INCLUDING THOSE INCURRED TO SECURE HEALTH, SAFETY AND
ENVIRONMENTAL OBLIGATIONS IN THE ORDINARY COURSE OF BUSINESS;
(H)
ZONING RESTRICTIONS, SURVEY EXCEPTIONS AND SUCH MATTERS AS AN
ACCURATE SURVEY WOULD DISCLOSE, EASEMENTS, TRACKAGE RIGHTS, LEASES (OTHER THAN
CAPITAL LEASE OBLIGATIONS), LICENSES, SPECIAL ASSESSMENTS, RIGHTS‐OF‐WAY,
COVENANTS, CONDITIONS, RESTRICTIONS AND DECLARATION ON OR WITH RESPECT TO THE
USE OF REAL PROPERTY, SERVICING AGREEMENTS, DEVELOPMENT AGREEMENTS, SITE PLAN
AGREEMENTS AND OTHER SIMILAR ENCUMBRANCES INCURRED IN THE ORDINARY COURSE OF
BUSINESS AND TITLE DEFECTS OR IRREGULARITIES THAT ARE OF A MINOR NATURE AND
THAT, IN THE AGGREGATE, DO NOT INTERFERE IN ANY MATERIAL RESPECT WITH THE
ORDINARY CONDUCT OF THE BUSINESS OF THE COMPANY OR ANY SUBSIDIARY;
(I)
LIENS SECURING INDEBTEDNESS PERMITTED