SECTION
8.2(B)(IV), PROVIDED THAT ANY SUCH PERMITTED REFINANCING INDEBTEDNESS IS NOT
INCREASED AND IS NOT SECURED BY ANY ADDITIONAL ASSETS;
(D)
ADDITIONAL LIENS INCURRED BY THE BORROWER AND ITS SUBSIDIARIES
WHICH DO NOT SECURE INDEBTEDNESS FOR MONEY BORROWED SO LONG AS THE VALUE OF THE
PROPERTY SUBJECT TO SUCH LIENS, AND THE OBLIGATIONS SECURED THEREBY, DO NOT
EXCEED $50,000,000 IN THE AGGREGATE AT ANY ONE TIME OUTSTANDING;
(E)
LIENS CONSISTING OF AN AGREEMENT TO SELL, TRANSFER OR DISPOSE OF
ANY ASSET (TO THE EXTENT SUCH SALE, TRANSFER OR DISPOSITION IS PERMITTED
HEREBY);
(F)
LIENS IN FAVOR OF THE BORROWER OR ANY OF ITS SUBSIDIARIES
SECURING INTERCOMPANY INDEBTEDNESS AMONG THE BORROWER AND ITS SUBSIDIARIES
PERMITTED TO BE INCURRED IN ACCORDANCE WITH SECTION 8.2(B)(III);
(G)
LIENS SECURING INDEBTEDNESS OF FOREIGN SUBSIDIARIES; PROVIDED,
THAT THE AMOUNT OF SUCH INDEBTEDNESS ON THE DATE THAT SUCH PERSON INCURS (AS
DEFINED IN SECTION 8.2(A)) SUCH INDEBTEDNESS, AFTER GIVING PRO FORMA EFFECT TO
SUCH INCURRENCE, DOES NOT EXCEED 5% OF THE BORROWER'S CONSOLIDATED NET TANGIBLE
ASSETS AS OF THE END OF THE MOST RECENT FISCAL QUARTER FOR WHICH THE BORROWER
HAS DELIVERED FINANCIAL STATEMENTS AS REQUIRED BY SECTION 7.1 IN THE AGGREGATE
AT ANY ONE TIME OUTSTANDING;
(H)
LIENS (1) EXISTING ON THE EFFECTIVE DATE LISTED ON SCHEDULE 8.1(H)
HEREOF AND ANY EXTENSION, RENEWAL OR REPLACEMENT THEREOF BUT ONLY IF THE
PRINCIPAL AMOUNT OF THE INDEBTEDNESS (INCLUDING, FOR PURPOSES OF THIS SECTION
8.1(H), ANY ADDITIONAL INDEBTEDNESS INCURRED PURSUANT TO REVOLVING COMMITMENTS
IN AN AMOUNT NOT IN EXCESS OF THE AVAILABLE COMMITMENT AS SET FORTH ON SCHEDULE
8.2(B)(II) SECURED THEREBY) IS NOT INCREASED AND SUCH LIENS DO NOT EXTEND TO OR
COVER ANY OTHER PROPERTY OR ASSETS, (2) ON PROPERTY OF AIRSTAR CORPORATION
INCURRED PURSUANT TO THE AIRSTAR AIRCRAFT FINANCING DOCUMENTS AND (3) ON THE
ASSETS OF NITRAIL VEGYIPARI TERMELÓ
111
FEJLESZTÓ RÉSVÉNYTÁR-SÁG (NITRAIL CHEMICAL ENGINEERING AND PRODUCTION CO., PLC)
WHICH SECURE NOT MORE THAN $2,000,000 OF INDEBTEDNESS;
(I)
LIENS ON RECEIVABLES FACILITY ASSETS TRANSFERRED, DIRECTLY OR
INDIRECTLY, (A) TO A RECEIVABLES SUBSIDIARY OR (B) BY A RECEIVABLES SUBSIDIARY
TO THE PURCHASERS OF SUCH RECEIVABLES (AND THE FILING OF FINANCING STATEMENTS IN
CONNECTION THEREWITH) CREATED BY, AND AS SET FORTH IN, THE RECEIVABLES DOCUMENTS
PURSUANT TO A PERMITTED ACCOUNTS RECEIVABLE SECURITIZATION;
(J)
LIENS SECURING ACQUIRED DEBT PERMITTED PURSUANT TO THE SECOND
PROVISO OF SECTION 8.2(A) OR PURSUANT TO SECTION 8.2(B)(XI), PROVIDED, THAT ANY
SUCH LIEN DOES NOT EXTEND TO ANY PROPERTY OTHER THAN THE PROPERTY OF THE NEWLY
ACQUIRED SUBSIDIARY (AND PROCEEDS AND ACCESSIONS AND ADDITIONS TO SUCH PROPERTY)
THAT IS SUBJECT TO A LIEN SECURING SUCH INDEBTEDNESS AS OF THE CLOSING OF THE
ACQUISITION OF SUCH SUBSIDIARY;
(K)
LIENS ON UNEARNED INSURANCE PREMIUMS SECURING INDEBTEDNESS
INCURRED BY BORROWER AND/OR ITS SUBSIDIARIES TO FINANCE SUCH INSURANCE PREMIUMS
IN A PRINCIPAL AMOUNT NOT TO EXCEED AT ANY TIME THE AMOUNT OF SUCH INSURANCE
PREMIUMS TO BE PAID BY BORROWER AND/OR ITS SUBSIDIARIES FOR A THREE YEAR PERIOD;
AND
(L)
LIENS SECURING OBLIGATIONS ARISING IN THE ORDINARY COURSE
PURSUANT