WHEN REQUIRED BY SUCH UTILITY
OR GOVERNMENTAL ENTITY IN CONNECTION WITH THE OPERATION OF THE BUSINESS OF SUCH
PERSON;
(B)
ANY ENCUMBRANCE RESULTING FROM THE DEPOSIT
OF CASH OR SECURITIES IN CONNECTION WITH CONTRACTS (OTHER THAN AGREEMENTS FOR
BORROWED MONEY), TENDERS OR EXPROPRIATION PROCEEDINGS, OR TO SECURE WORKER'S
COMPENSATION, SURETY APPEAL BONDS OR COSTS OF LITIGATION WHEN REQUIRED BY LAW,
AND PUBLIC AND STATUTORY OBLIGATIONS;
(C)
ANY ENCUMBRANCE, PAYMENT OF WHICH HAS BEEN
PROVIDED FOR BY THE DEPOSITING WITH THE AGENT OF AN AMOUNT IN CASH, OR THE
OBTAINING OF A SURETY BOND SATISFACTORY TO THE AGENT IN ITS ABSOLUTE DISCRETION,
SUFFICIENT IN EITHER CASE TO PAY OR DISCHARGE THE SAME AND WHICH DEPOSIT OR BOND
THE AGENT IS AUTHORIZED TO USE OR DRAW UPON FOR THAT PURPOSE;
(D)
CARRIERS', WAREHOUSEMEN'S, MECHANICS',
MATERIAL-MEN'S, REPAIRMEN'S OR OTHER SIMILAR ENCUMBRANCES ARISING IN THE
ORDINARY COURSE OF BUSINESS WHICH ARE NOT OVERDUE FOR A PERIOD OF MORE THAN 30
DAYS OR WHICH ARE BEING CONTESTED AT THE TIME BY THE PERSON IN GOOD FAITH BY
PROPER LEGAL PROCEEDINGS IF: (I) ADEQUATE RESERVES WITH RESPECT THERETO ARE
MAINTAINED ON THE BOOKS OF SUCH PERSON, IF REQUIRED IN ACCORDANCE WITH GAAP; AND
(II)
TO THE EXTENT THAT SUCH ENCUMBRANCES RELATE TO ASSETS THAT ARE MATERIAL TO
THE BUSINESS OF THE PERSON, SUCH ENCUMBRANCES DO NOT MATERIALLY INTERFERE WITH
THE USE OF SUCH ASSETS BY THE PERSON OR INVOLVE ANY IMMEDIATE DANGER OF THE
SALE, FORFEITURE OR LOSS OF SUCH ASSETS;
26
(E)
COVENANTS RESTRICTING OR PROHIBITING ACCESS
TO OR FROM REAL PROPERTY ABUTTING ON CONTROLLED ACCESS HIGHWAYS, WHICH DO NOT
ADVERSELY IMPAIR IN ANY MATERIAL RESPECT THE USE OF THE REAL PROPERTY CONCERNED
IN THE OPERATION OF THE BUSINESS CONDUCTED ON SUCH REAL PROPERTY;
(F)
ENCUMBRANCES AFFECTING REAL PROPERTY OF
THE PERSON WHICH ARE LEASEHOLD OR LICENSE INTERESTS AND RELATING TO REAL
PROPERTY THAT IS NOT OTHERWISE REQUIRED IN THE CONDUCT OF THE BUSINESS OF SUCH
PERSON;
(G)
ENCUMBRANCES AFFECTING REAL PROPERTY OF THE
PERSON WHICH ARE: (I) TITLE DEFECTS, ENCROACHMENTS OR IRREGULARITIES OF A MINOR
NATURE; OR (II) RESTRICTIONS, EASEMENTS, RIGHTS-OF-WAY, SERVITUDES OR OTHER
SIMILAR RIGHTS IN LAND (INCLUDING, WITHOUT RESTRICTION, RIGHTS OF WAY AND
SERVITUDES FOR RAILWAYS, SEWERS, DRAINS, GAS AND OIL PIPELINES, GAS AND WATER
MAINS, ELECTRIC LIGHT AND POWER AND TELEPHONE OR TELEGRAPH OR CABLE TELEVISION
CONDUITS, POLES, WIRES AND CABLES) GRANTED TO OR RESERVED BY OTHER PERSONS, AND
IN EACH CASE TO THE EXTENT THAT SUCH ENCUMBRANCES RELATE TO REAL PROPERTY THAT
IS MATERIAL TO THE BUSINESS OF THE PERSON, SUCH ENCUMBRANCES DO NOT MATERIALLY
INTERFERE WITH THE USE OF SUCH REAL PROPERTY BY THE PERSON;
(H)
ENCUMBRANCES EXISTING ON THE DATE HEREOF AND
DISCLOSED IN SCHEDULE E ONLY TO THE EXTENT SUCH ENCUMBRANCES CONFORM TO THEIR
DESCRIPTION IN SCHEDULE E, INCLUDING THE ENCUMBRANCES RESULTING FROM THE BANK
ONE LEASE DOCUMENTATION, THE HOUSTON LEASE OBLIGATION AND THE ST. PAUL LEASE
OBLIGATION COVERING THE REAL AND PERSONAL PROPERTY THAT IS THE SUBJECT THEREOF,
AS SUCH PROPERTY IS MORE PARTICULARLY DESCRIBED