Creation of Encumbrances create or agree to create or permit to exist any Encumbrance over the Vessel (or any share or interest therein) or over the Building Contract, the Guarantee Bond or the Refund Guarantee other than the Encumbrances created or to be created pursuant to or as contemplated by the Security Documents and Permitted Encumbrances;
Creation of Encumbrances. Seller shall not voluntarily create any Encumbrances affecting the Owned Real Estate.
Creation of Encumbrances. Seller covenants and agrees not to hereafter create or consent to the imposition of any lien, lease, easement, restriction, covenant, condition or other encumbrance upon the Property which would be binding upon Purchaser or the Property following the Closing without, in each instance, the prior written consent of Purchaser.
Creation of Encumbrances. The Borrower incurs, creates, assumes or permits to exist any Encumbrance upon any of its assets, whether now owned or hereafter acquired, except for Permitted Encumbrances and such Encumbrance is not cancelled within ten (10) calendar days of being created.
Creation of Encumbrances. Contributor, Owner and the SPE Entities will not hereafter create or consent to the imposition of any lien, lease, easement, restriction, covenant, condition, or other encumbrance upon the Property that would be binding upon the Owner, the SPE Entities or the Property following the Closing without, in each instance, the prior written consent of the Company. Contributor will not hereafter create or consent to the imposition of any lien, lease, easement, restriction, covenant, condition, or other encumbrance upon the LLC Interest, the Concorde Interest, the Greenhouse Interest, or the Academy Interest that would be binding upon the Company, the Owner or the SPE Entities following the Closing without, in each instance, the prior written consent of the Company.
Creation of Encumbrances. The Borrower shall not create, assume, incur or suffer to exist, nor will the Borrower allow any Subsidiary to create, assume, incur or suffer to exist, any Encumbrance upon any of their respective properties, whether now owned or hereafter acquired, nor acquire nor agree to acquire any kind of property subject to an Encumbrance; provided, however, that the foregoing restrictions shall not prevent the Borrower or any of its Subsidiaries from creating, assuming, incurring or suffering to exist Encumbrances, including but not limited to the Encumbrances set forth on Schedule 3.6 hereto, which secure Indebtedness or obligations which do not exceed, in the aggregate, at any one time outstanding, twenty percent (20%) of the Borrower’s Consolidated Total Assets.
Creation of Encumbrances. No Shareholder may Encumber all or any portion of its Shares without the prior express written consent of all Shareholders.
Creation of Encumbrances. Except as provided otherwise herein, Borrower will not, and will not permit any of its Subsidiaries to create, assume, incur or suffer to exist or allow to be created, assumed or incurred or suffered to exist any Encumbrance provided, however, that the foregoing restrictions shall not prevent Borrower or a Subsidiary from:
(a) Permitting or incurring Encumbrances for taxes or assessments or governmental charges or levies on any of the properties of Borrower or a Subsidiary if such taxes, assessments, governmental charges or levies shall not at the time be due and payable or can thereafter be paid without penalty or are being contested in good faith by appropriate proceedings and with respect to which Borrower or a Subsidiary has created reserves which are determined by Borrower or a Subsidiary to be adequate by the application of Good Accounting Practice;
(b) Incurring mechanics', carriers', workmen's, repairmen's or other like Encumbrances in the ordinary course of business in respect of obligations which are not overdue, or making deposits to obtain the release of such Encumbrances;
(c) Rights of subrogation, if any, under applicable law in favor of bonding companies and payments made under performance and/or completion bonds;
(d) Incurring liens in favor of Continental Casualty Company, National Fire Ins. Co. of Hartford and American Casualty Company of Reading, Pennsylvania (collectively, the "Insurance Companies") against the contracts of Borrower which are bonded (the "Bonded Contracts") by the Insurance Companies, including the right, title and interest of Borrower in and to all subcontracts let in connection with such Bonded Contracts, against all machinery, plant, equipment, tools and materials which are upon the worksite of the Bonded Contracts, including all materials ordered for the Bonded Contracts and all sums due under the Bonded Contracts at the time of default and thereafter, and all proceeds thereof, provided that such liens are either unperfected or junior in priority to the liens and security interests in such property held by the Bank; and
(e) Purchase money liens to the extent such debt is permitted in Section 7.06 hereof.
Creation of Encumbrances. Each of China VC, NZR and the Covenantors further undertakes not to create any Encumbrances on its/his/her shareholdings in the EJV and/or NZR and shall not enter into any agreement/arrangement the purpose of which is to create such Encumbrances unless prior written consent from PIHK shall have been obtained.
Creation of Encumbrances. From and after the Effective Date up to and including the Closing, Seller shall not hereafter create or consent to the imposition of any lease, lien, easement, restriction, covenant, condition or other encumbrance upon the Property which would be binding upon Purchaser or the Property following the Closing without, in each instance, the prior written consent of Purchaser, which consent may be withheld in Purchaser’s sole discretion and shall be deemed to have been granted if Purchaser does not send written notice of disapproval to Seller within five (5) days after Seller’s receipt of a request for approval. The foregoing shall not apply with respect to Construction Claims.
