First Data 2007 Annual Report Download - page 270

(f) marketable short-term money market and similar funds (x) either having assets in excess of $500,000,000 or (y) having a rating of at least A-2
or P-2 from either S&P or Moody's (or, if at any time neither S&P nor Moody's shall be rating such obligations, an equivalent rating from another
nationally recognized rating service);
(g) shares of investment companies that are registered under the Investment Company Act of 1940 and substantially all the investments of which
are one or more of the types of securities described in clauses (a) through (f) above;
(h) in the case of Investments by any Restricted Foreign Subsidiary or Investments made in a country outside the United States of America, other
customarily utilized high-quality Investments in the country where such Restricted Foreign Subsidiary is located or in which such Investment is made;
and
(i) Investments of assets made pursuant to any non-qualified deferred compensation plan sponsored by the Borrower or its Restricted
Subsidiaries.
"Permitted Liens" shall mean:
(a) Liens for taxes, assessments or governmental charges or claims not yet due and payable or that are being contested in good faith and by
appropriate proceedings for which appropriate reserves have been established to the extent required by and in accordance with GAAP;
(b) Liens in respect of property or assets of the Borrower or any of the Subsidiaries imposed by law, such as carriers', warehousemen's and
mechanics' Liens and other similar Liens arising in the ordinary course of business, in each case so long as such Liens arise in the ordinary course of
business and do not individually or in the aggregate have a Material Adverse Effect;
(c) Liens arising from judgments or decrees in circumstances not constituting an Event of Default under Section 11.11;
(d) Liens incurred or deposits made in connection with workers' compensation, unemployment insurance and other types of social security, or to
secure the performance of tenders, statutory obligations, surety and appeal bonds, bids, leases, government contracts, performance and return-of-money
bonds and other similar obligations incurred in the ordinary course of business or otherwise constituting Investments permitted by Section 10.5;
(e) ground leases in respect of real property on which facilities owned or leased by the Borrower or any of its Subsidiaries are located;
(f) easements, rights-of-way, restrictions, minor defects or irregularities in title and other similar charges or encumbrances not interfering in any
material respect with the business of the Borrower and its Subsidiaries, taken as a whole;
(g) any interest or title of a lessor or secured by a lessor's interest under any lease permitted by this Agreement;
(h) Liens in favor of customs and revenue authorities arising as a matter of law to secure payment of customs duties in connection with the
importation of goods;
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