Neiman Marcus 2008 Annual Report Download - page 326

incidental to the conduct of the business of such Person or to the ownership of its properties, in each case, which were not
incurred in connection with Indebtedness and which do not in the aggregate materially adversely affect the value of said
properties or materially impair their use in the operation of the business of such Person;
(g) Liens existing on the Closing Date;
(h) Liens on property or shares of stock of a Person at the time such Person becomes a subsidiary; provided that such
Liens are not created or incurred in connection with, or in contemplation of, such other Person becoming such a subsidiary;
provided, further, that such Liens may not extend to any other property owned by the Borrower or any Restricted Subsidiary;
(i) Liens on property at the time the Borrower or a Restricted Subsidiary acquired the property, including any
acquisition by means of a merger or consolidation with or into the Borrower or any Restricted Subsidiary; provided that such
Liens are not created or incurred in connection with, or in contemplation of, such acquisition; provided, further, that the Liens
may not extend to any other property owned by the Borrower or any Restricted Subsidiary;
(j) Liens securing Indebtedness or other obligations of a Restricted Subsidiary owing to the Borrower or another
Restricted Subsidiary permitted to be incurred in accordance with Section 6.01;
(k) Liens on specific items of inventory or other goods and proceeds of any Person securing such Person's
obligations in respect of bankers' acceptances issued or created for the account of such Person to facilitate the purchase,
shipment or storage of such inventory or other goods;
(l) leases and subleases granted to others in the ordinary course of business which do not materially interfere with
the ordinary conduct of the business of the Borrower or any of the Restricted Subsidiaries and do not secure any
Indebtedness;
(m) Liens arising from financing statement filings under the UCC or similar state laws regarding operating leases
entered into by the Borrower and its Restricted Subsidiaries in the ordinary course of business;
(n) Liens in favor of the Borrower or any Subsidiary Guarantor;
(o) Liens on inventory or equipment of the Borrower or any Restricted Subsidiary granted in the ordinary course of
business to the Borrower's client at which such inventory or equipment is located;
(p) Liens on accounts receivable and related assets incurred in connection with a Receivables Facility;
(q) Liens to secure any refinancing, refunding, extension, renewal or replacement (or successive refinancing,
refunding, extensions, renewals or replacements) as a whole, or in part, of any Indebtedness secured by any Lien referred to
in clauses (a), (g), (h), (i), (r) and (aa) of this definition; provided that (x) such new Lien shall be limited to all or part of the
same property that secured the original Lien (plus improvements on such property), and (y) the Indebtedness secured by such
Lien at such time is not increased to any amount greater than the sum of (A) the outstanding principal amount or, if greater,
committed amount of the Indebtedness described
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