Nautilus 2007 Annual Report Download - page 152

(h) Liens arising in the Ordinary Course of Business that are subject to Lien Waivers;
(i) Liens arising from (i) operating leases and the precautionary UCC financing statement filings in respect thereof and (ii) equipment
or other materials which are not owned by any Obligor or Subsidiary located on the premises of such Obligor or Subsidiary (but not in
connection with, or as part of, the financing thereof) from time to time in the ordinary course of business and consistent with current
practices of such Obligor or such Subsidiary and the precautionary UCC financing statement filings in respect thereof;
(j) deposits of cash with the owner or lessor of premises leased and operated by the Obligors or their Subsidiaries (exclusive of
Affiliates of Borrowers) in the Ordinary Course of Business of such Obligors or such Subsidiaries to secure the performance by Borrowers
of their respective obligations under the terms of the lease for such premises;
(k) Liens, pledges and encumbrances with respect to any Real Estate granted to a public utility or any Governmental Authority when
required by such utility or Governmental authority in connection with the operation of the business or other ownership or the assets of the
Person, which do not (whether by interference in any material respect with the use of such Real Estate or with the ordinary conduct of the
business of the Obligors or their Subsidiaries as presently conducted thereon) materially impair the value of the Real Estate which may be
subject thereto;
(l) any interest or title of a licensor, sub-licensor, lessor or sublessor under any license or operating or true lease agreement, provided
that no such interests could reasonably be expected to have a Material Adverse Effect;
(m) Liens arising from precautionary UCC filings regarding “true”
operating leases or the consignment of goods to an Obligor or any
of its Subsidiaries;
(n) Liens arising by operation of law under Article 4 of the UCC in connection with collection of items provided for therein;
(o) Liens arising by operation of law under Article 2 of the UCC in favor of a reclaiming seller or goods or buyer of goods, provided
that any such Liens are subordinated under law to the Liens in favor of Agent;
(p) Liens arising by virtue of a judgment or judicial order against any Borrower or Subsidiary, or any Property of a Borrower or
Subsidiary, as long as such Liens are (i) in existence for less than 20 consecutive days or being Properly Contested, and (ii) at all times
junior to Agent’s Liens;
(q) easements, rights-of-way, restrictions, covenants or other agreements of record, and other similar charges or encumbrances on
Real Estate, that do not secure any monetary obligation and do not interfere with the Ordinary Course of Business or such title defects or
survey matters that are disclosed by current surveys and that could not reasonably be expected to have a Material Adverse Effect;
(r) normal and customary rights of setoff upon deposits in favor of depository institutions, and Liens of a collecting bank on Payment
Items in the course of collection;
(s) Liens on US Borrower’s Intellectual Property securing Debt permitted by Section 10.2.1(h) ;
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