CUSTOMARY INITIAL DEPOSITS AND MARGIN DEPOSITS
AND SIMILAR LIENS ATTACHING TO COMMODITY TRADING ACCOUNTS OR OTHER BROKERAGE
ACCOUNTS INCURRED IN THE ORDINARY COURSE OF BUSINESS AND NOT FOR SPECULATIVE
PURPOSES;
(M) LIENS THAT ARE CONTRACTUAL RIGHTS OF SET-OFF (I) RELATING TO THE
ESTABLISHMENT OF DEPOSITORY RELATIONS WITH BANKS NOT GIVEN IN CONNECTION WITH
THE ISSUANCE OF INDEBTEDNESS, (II) RELATING TO POOLED DEPOSIT OR SWEEP ACCOUNTS
OF HOLDINGS, THE BORROWER OR ANY SUBSIDIARY TO PERMIT SATISFACTION OF OVERDRAFT
OR SIMILAR OBLIGATIONS INCURRED IN THE ORDINARY COURSE OF BUSINESS OF HOLDINGS,
THE BORROWER AND THE SUBSIDIARIES OR (III) RELATING TO PURCHASE ORDERS AND OTHER
AGREEMENTS ENTERED INTO WITH CUSTOMERS OF HOLDINGS, THE BORROWER OR ANY
SUBSIDIARY IN THE ORDINARY COURSE OF BUSINESS;
(N) LIENS SOLELY ON ANY CASH EARNEST MONEY DEPOSITS MADE BY HOLDINGS, THE
BORROWER OR ANY OF THE SUBSIDIARIES IN CONNECTION WITH ANY LETTER OF INTENT OR
PURCHASE AGREEMENT PERMITTED HEREUNDER;
(O) LIENS IN RESPECT OF THE HSBC ARRANGEMENTS (OR ANY PERMITTED REPLACEMENT
CREDIT CARD PROGRAM); PROVIDED THAT NO SUCH LIEN SHALL APPLY TO CASH
CONSTITUTING THE PROCEEDS OF ANY COLLATERAL;
(P) LIENS IN RESPECT OF THE LICENSING OF PATENTS, COPYRIGHTS, TRADEMARKS, TRADE
NAMES, OTHER INDICATIONS OF ORIGIN, DOMAIN NAMES AND OTHER FORMS OF INTELLECTUAL
PROPERTY IN THE ORDINARY COURSE OF BUSINESS;
(Q) OTHER LIENS (OTHER THAN LIENS ON INVENTORY) SECURING OBLIGATIONS INCURRED IN
THE ORDINARY COURSE OF BUSINESS WHICH OBLIGATIONS DO NOT EXCEED $15,000,000 AT
ANY TIME OUTSTANDING;
(R) ANY LIEN EXISTING ON ANY PROPERTY OR ASSET (OTHER THAN INVENTORY) PRIOR TO
THE ACQUISITION THEREOF BY THE BORROWER OR ANY SUBSIDIARY OR EXISTING ON ANY
PROPERTY OR ASSET (OTHER THAN INVENTORY) OF ANY PERSON THAT BECOMES A LOAN PARTY
AFTER THE DATE HEREOF PRIOR TO THE TIME SUCH PERSON BECOMES A LOAN PARTY;
PROVIDED THAT (I) SUCH LIEN IS NOT CREATED IN CONTEMPLATION OF OR IN CONNECTION
WITH SUCH ACQUISITION OR SUCH PERSON BECOMING A LOAN PARTY, AS THE CASE MAY BE,
(II) SUCH LIEN SHALL NOT APPLY TO ANY OTHER PROPERTY OR ASSETS OF THE LOAN PARTY
(OTHER THAN PROCEEDS OR PRODUCTS THEREOF) AND (III) SUCH LIEN SHALL SECURE ONLY
THOSE OBLIGATIONS WHICH IT SECURES ON THE DATE OF SUCH ACQUISITION OR THE DATE
SUCH PERSON BECOMES A LOAN PARTY, AS THE CASE MAY BE AND EXTENSIONS, RENEWALS
AND REPLACEMENTS THEREOF THAT DO NOT INCREASE THE OUTSTANDING PRINCIPAL AMOUNT
THEREOF (EXCEPT TO THE EXTENT PERMITTED UNDER SECTION 6.01(G));
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(S) LIENS OF A COLLECTING BANK ARISING IN THE ORDINARY COURSE OF BUSINESS UNDER
SECTION 4-208 OF THE UNIFORM COMMERCIAL CODE IN EFFECT IN THE RELEVANT
JURISDICTION COVERING ONLY THE ITEMS BEING COLLECTED UPON;
(T) LIENS ARISING OUT OF SALE AND LEASE-BACK TRANSACTIONS PERMITTED BY
SECTION 6.06;
(U) LIENS ON GOODS OR INVENTORY THE PURCHASE, SHIPMENT OR STORAGE PRICE OF WHICH
IS FINANCED BY A DOCUMENTARY LETTER OF CREDIT OR BANKERS' ACCEPTANCE ISSUED OR
CREATED FOR THE ACCOUNT OF THE BORROWER OR ANY OF ITS SUBSIDIARIES; PROVIDED
THAT SUCH LIEN SECURES ONLY THE OBLIGATIONS OF THE BORROWER OR