Borrowing Base Covenants. (a) All assets included in the Borrowing Base must be owned by Borrower or a Guarantor and must be unencumbered except for Permitted Liens; provided, however, that for purposes of this paragraph, the term “Permitted Liens” shall not include Liens permitted under clauses (iii), (xiv) and (xv) of §8.2.
Appears in 2 contracts
Samples: Revolving and Term Credit Agreement (Forestar Group Inc.), Revolving and Term Credit Agreement (Forestar Real Estate Group Inc.)
Borrowing Base Covenants. (aww) All assets included in the Borrowing Base must be owned by Borrower or a Guarantor and must be unencumbered except for Permitted Liens; provided, however, that for purposes of this paragraph, the term “Permitted Liens” shall not include Liens permitted under clauses (iii), (xiv) and and, unless it would otherwise be permitted under another category of Permitted Liens, (xv) of §8.2.
Appears in 1 contract
Borrowing Base Covenants. (a) All assets included in the Borrowing Base must be owned by Borrower or a Guarantor and must be unencumbered except for Permitted Liens; provided, however, that for purposes of this paragraph, the term “Permitted Liens” shall not include Liens permitted under clauses (iii), (xiv) and and, unless it would otherwise be permitted under another category of Permitted Liens, (xv) of §8.2.
Appears in 1 contract
Samples: Revolving and Term Credit Agreement (Forestar Group Inc.)
