Common use of Definition of Permitted Encumbrances Clause in Contracts

Definition of Permitted Encumbrances. As used herein, the term “Permitted Encumbrances” means any or all of the following: 11.1.1 All liens and encumbrances that will be released at Closing. 11.1.2 Liens for current Taxes or assessments not yet due or delinquent on the Closing Date or, if delinquent, that are being contested in good faith in the ordinary course of business; 11.1.3 Materialmen’s, mechanic’s, repairman’s, employee’s, contractor’s, operator’s and other similar liens or charges arising in the ordinary course of business for amounts not yet delinquent;