Kodak 2011 Annual Report Download - page 173

“ Participant Register ” has the meaning specified in Section 8.07(k) .
“ PATRIOT Act ”
means the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct
Terrorism Act of 2001, Pub. L. 107-56, signed into law October 26, 2001.
“ PBGC ” means the Pension Benefit Guaranty Corporation (or any successor).
“ Permitted Collateral Liens ” has the meaning specified in the definition of “Eligible Equipment”.
“ Permitted Liens ”
means such of the following as to which no enforcement, collection, execution, levy or foreclosure proceeding shall
have been commenced: (a) Liens for (i) pre-
petition taxes, assessments and governmental charges or levies that were not yet due on the Petition
Date or that are being contested in good faith by appropriate proceedings and (ii) Liens for post-
petition taxes, assessments and governmental
charges or levies not yet due or that are being contested in good faith by appropriate proceedings; provided that with respect to both pre-
petition
and post-
petition taxes, adequate reserves are maintained on the books of the Company or its Subsidiaries, as the case may be, in conformity with
GAAP; (b) Liens imposed by law, such as materialmen’s, mechanics’, carriers’, workmen’s and repairmen’
s Liens and other similar Liens arising
in the ordinary course of business; (c) pledges or deposits to secure obligations under workers’
compensation laws or similar legislation or to
secure public or statutory obligations or to secure the performance of bids, performance bonds, tenders, trade contracts or leases (other than leases
constituting Debt) in the ordinary course of business; (d) easements, rights of way and other encumbrances on title to real property that do not
render title to the property encumbered thereby unmarketable, were not incurred in connection with and do not secure Debt and do not materially
adversely affect the use of such property for its present purposes; (e) Liens or other conveyances of property in favor of any governmental
department, agency or instrumentality to secure partial, progress or advance or other payments (other than in respect of borrowed money) pursuant
to any contract or statute; and (f) Liens in favor of the applicable utility providers on the Adequate Assurance Account.
“ Permitted Refinancing ”
means, with respect to any Person, any modification, refinancing, refunding, renewal, replacement, exchange or
extension of any Debt of such Person; provided
that (a) the principal amount (or accreted value, if applicable) thereof does not exceed the principal
amount (or accreted value, if applicable) of the Debt so modified, refinanced, refunded, renewed, replaced, exchanged or extended except by an
amount equal to accrued and unpaid interest and a reasonable premium thereon plus other reasonable and customary amounts paid, and customary
fees and expenses reasonably incurred, in connection with such modification, refinancing, refunding, renewal, replacement, exchange or extension
and by an amount equal to any existing commitments unutilized thereunder; (b) such modification, refinancing, refunding, renewal, replacement,
exchange or extension (i) has a final maturity date equal to or later than the final maturity date of, and has a Weighted Average Life to Maturity
equal to or greater than the Weighted Average Life to Maturity of, the Debt being modified, refinanced, refunded, renewed, replaced, exchanged or
extended and (ii) has no scheduled amortization or payments of principal prior to 181 days after the Termination Date or, if the Debt being
modified, amended, restated, amended and restated, refinanced, refunded, renewed or extended is subject to scheduled amortization or payments of
principal, prior to any such scheduled amortization or payments of principal; (c) if the Debt being modified, refinanced, refunded, renewed,
replaced, exchanged or extended is subordinated in right of payment to the Obligations, such modification, refinancing, refunding, renewal,
replacement, exchange or
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