ServiceMagic 2012 Annual Report Download - page 281

“ Participant ” has the meaning assigned to such term in Section 9.05.
“ Participant Register ” has the meaning set forth in Section 9.05.
“ Participating Member State ” means any member state of the EMU which has the Euro as its lawful currency.
“ PBGC ” means the Pension Benefit Guaranty Corporation referred to and defined in ERISA and any successor
entity performing similar functions.
“ Perfection Certificate ” means a certificate in the form of Exhibit H or any other form approved by the
Administrative Agent (acting reasonably), as the same shall be supplemented from time to time by any supplement thereto or
otherwise.
“ Permitted Encumbrances ” means:
(a) Liens imposed by law for taxes, assessments or governmental charges that are not yet due or are being
contested in compliance with Section 5.04;
(b) landlord’s, carriers’, warehousemen’s, mechanics’, supplier’s, materialmen’s, repairmen’s and other like
Liens imposed by law, arising in the ordinary course of business and securing obligations that are not overdue by more than
30 days or are being contested in compliance with Section 5.04;
(c) pledges and deposits made in the ordinary course of business in compliance with workers’ compensation (or
pursuant to letters of credit issued in connection with such workers’ compensation compliance), unemployment insurance
and other social security laws or regulations;
(d) deposits to secure the performance of tenders, bids, trade contracts, leases, statutory obligations, surety and
appeal bonds, performance bonds, leases, subleases, government contracts and return-of-money bonds, letters of credit and
other obligations of a like nature, in each case in the ordinary course of business (exclusive of the obligation for the
payment of borrowed money);
(e) judgment liens in respect of judgments that do not constitute an Event of Default under clause (j) of Article
VII;
(f) easements, zoning restrictions, rights-of-way, survey exception, minor encumbrances, reservation of, licenses,
electric lines, telegraph and telephone lines and similar encumbrances on real property imposed by law or arising in the
ordinary course of business that do not secure any monetary obligations and do not materially detract from the value of the
affected property or interfere with the ordinary conduct of business of the Borrower or any Restricted Subsidiary;
(g) Liens securing obligations in respect of trade-related letters of credit and covering the goods (or the
documents of title in respect of such goods) financed or the purchase of which is supported by such letters of credit and the
proceeds and products thereof;
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