This excerpt taken from the TPTX 8-K filed Oct 10, 2006.
Permitted Liens are:
(a) Liens existing on the Effective Date and shown on the Perfection Certificate or arising under this Agreement or other Loan Documents, including Liens in favor of either Lender;
(b) Liens for taxes, fees, assessments or other government charges or levies, either not delinquent or being contested in good faith and for which Borrower maintains adequate reserves on its Books, if they have no priority over any of Lenders security interests;
(c) Purchase money Liens (and including for purposes of this clause Liens incurred in connection with capital leases) (i) on Equipment acquired or held by Borrower incurred for financing the acquisition of the Equipment, or (ii) existing on equipment when acquired, if the Lien is confined to the property and improvements and the proceeds of the equipment;
(d) Leases or subleases and licenses or sublicenses granted in the ordinary course of Borrowers business;
(e) materialmens, mechanics, repairmens, employees or other like Liens arising in the ordinary course of business and which are not delinquent;
(f) bankers liens, rights of setoff and similar Liens incurred on deposits made in the ordinary course of business subject to Borrowers compliance with Section 6.6 hereof;
(g) Liens arising from judgments, decrees or attachments in circumstances not constituting an Event of Default under Sections 8.4 or 8.7;
(h) Liens in favor of other financial institutions arising in connection with Borrowers deposit accounts or securities accounts held at such institutions to secure payment of fees and similar costs and expenses subject to Borrowers compliance with Section 6.6 hereof;
(i) Liens to secure payment of workers compensation, employment insurance, old age pensions or other social security obligations of Borrower in each case arising in the ordinary course of business of Borrower;
(j) easements, reservations, rights-of-way, restrictions, minor defects or irregularities in title and similar charges or encumbrances affecting real property not constituting a material adverse effect on the business or condition (financial or otherwise) of Borrower or otherwise materially impairing the conduct of Borrowers business; and
(k) Liens incurred in the extension, renewal or refinancing of the indebtedness secured by Liens described above, but any extension, renewal or replacement Lien must be limited to the property encumbered by the existing Lien and the then outstanding principal amount of the indebtedness may not increase.