Covenant to Secure Notes Equally. (a) The Companies agree that if the Company or any Subsidiary shall create or assume any Lien of any kind upon any of its property or assets, whether now owned or hereafter acquired, other than Liens permitted by the provisions of Section 6.8 (unless prior written consent to the creation or assumption thereof shall have been obtained), they will make or cause to be made effective provisions whereby the Notes will be secured by such Lien equally and ratably with any and all other Debt thereby secured, as long as any such other Debt shall be so secured. (b) The Companies agree not to become a party to, or otherwise be subject to, any provision contained in any instrument evidencing indebtedness of any of the Companies which imposes restrictions on the granting of Liens by the Companies on otherwise unencumbered assets of the Companies as security for the Notes, except as set forth herein.
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Samples: Revolving Credit and Term Loan Agreement (Tidewater Inc), Revolving Credit and Term Loan Agreement (Tidewater Inc), Revolving Credit and Term Loan Agreement (Tidewater Inc)
Covenant to Secure Notes Equally. (a) The Companies agree that if the -------------------------------- Company or any Subsidiary shall create or assume any Lien of any kind upon any of its property or assets, whether now owned or hereafter acquired, other than Liens permitted by the provisions of Section 6.8 (unless prior written consent to the creation or assumption thereof shall have been obtained), they will make or cause to be made effective provisions whereby the Notes will be secured by such Lien equally and ratably with any and all other Debt thereby secured, as long as any such other Debt shall be so secured.
(b) The Companies agree not to become a party to, or otherwise be subject to, any provision contained in any instrument evidencing indebtedness of any of the Companies which imposes restrictions on the granting of Liens by the Companies on otherwise unencumbered assets of the Companies as security for the Notes, except as set forth herein.
Appears in 1 contract
Samples: Revolving Credit and Term Loan Agreement (Tidewater Inc)
Covenant to Secure Notes Equally. (a) The Companies agree Company agrees that if the Company or any Subsidiary shall create or assume any Lien of any kind upon any of its property or assets, whether now owned or hereafter acquired, other than Liens permitted by the provisions of Section 6.8 (unless prior written consent to the creation or assumption thereof shall have been obtained), they will make or cause to be made effective provisions whereby the Notes will be secured by such Lien equally and ratably with any and all other Debt thereby secured, as long as any such other Debt shall be so secured.
(b) The Companies agree Company agrees not to become a party to, or otherwise be subject to, any provision contained in any instrument evidencing indebtedness of any of the Companies which imposes restrictions on the granting of Liens by the Companies on otherwise unencumbered assets of the Companies as security for the Notes, except for the Revolving Credit Facility and as otherwise set forth herein.
Appears in 1 contract
Samples: Term Loan Agreement (Tidewater Inc)