SEC Filings

PERNIX THERAPEUTICS HOLDINGS, INC. filed this Form 8-K on 02/27/2019
Entire Document

Course of Business and not in connection with the borrowing of money or the deferred purchase price of property or services,


(j)        Liens on amounts deposited to secure Borrower’s and its Subsidiaries reimbursement obligations with respect to surety or appeal bonds obtained in the Ordinary Course of Business,


(k)        with respect to any Real Property, easements, rights of way, and zoning restrictions that do not, individually or in the aggregate, materially affect the value or marketability of the applicable asset or impair the use or operation thereof,


(l)        Liens arising under Non-Exclusive Licenses,


(m)        [reserved],


(n)        rights of setoff or bankers’ liens upon deposits of funds in favor of banks or other depository institutions, solely to the extent incurred in connection with the maintenance of such Deposit Accounts in the Ordinary Course of Business,


(o)        Liens granted in the Ordinary Course of Business on the unearned portion of insurance premiums securing the financing of insurance premiums to the extent the financing is permitted under the definition of Permitted Indebtedness,


(p)  Liens in favor of customs and revenue authorities arising as a matter of law to secure payment of customs duties which are not past due in connection with the importation of goods by the Loan Parties or their Subsidiaries in the Ordinary Course of Business,


(q)        Liens solely on any cash earnest money deposits made by Borrower or any of its Subsidiaries in connection with any letter of intent or purchase agreement with respect to any Investment permitted hereby,


(r)  [reserved],


(s)  Liens (including any adequate protection replacement Liens granted under the DIP Orders) as provided for in the DIP Orders; provided that such Liens are made expressly junior to the Liens securing the Obligations,


(t)        a Lien on cash collateral in accordance with the Approved Budget, subject to Permitted Variances, but in any event not to exceed $157,500 in the aggregate, securing the reimbursement obligations of the Borrower and its material Subsidiaries under any letter of credit permitted pursuant to clause (n) of the definition of “Permitted Indebtedness”; provided that the amount of cash collateral in respect of any such letter of credit shall not exceed 105% of the face amount thereof,


(u)         precautionary UCC-1 financing statement filings that are filed by lessors with respect to operating leases entered into by the Loan Parties in the Ordinary Course of Business, and


(w)        other Liens which do not secure Indebtedness for borrowed money or letters of credit and as to which the aggregate amount of the obligations secured thereby does not exceed $150,000.


Permitted Prior Lien” has the meaning specified therefor in the applicable DIP Order.


Permitted Protest” means the right of Borrower or any of its Subsidiaries to protest any


Schedule 1.1

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