Equitable Lien. If any of Seller, Parent or Company shall create or assume any Lien (other than a Permitted Lien) upon any of its properties or assets, whether now owned or hereafter acquired, it shall make or cause to be made effective provisions whereby the Obligations will be secured by such Lien equally and ratably with any and all other Indebtedness secured thereby as long as any such Indebtedness shall be so secured; provided, notwithstanding the foregoing, this covenant shall not be construed as a consent by Requisite Lenders to the creation or assumption of any such Lien not otherwise permitted hereby.
Appears in 4 contracts
Samples: Credit Agreement (FlexShopper, Inc.), Omnibus Amendment (FlexShopper, Inc.), Credit Agreement (FlexShopper, Inc.)
Equitable Lien. If any Holding Company or any of Seller, Parent or Company its Subsidiaries shall create or assume any Lien (other than a Permitted Lien) upon any of its properties or assets, whether now owned or hereafter acquired, other than Permitted Liens, it shall make or cause to be made effective provisions whereby the Obligations will be secured by such Lien equally and ratably with any and all other Indebtedness secured thereby as long as any such Indebtedness shall be so secured; provided, notwithstanding the foregoing, this covenant shall not be construed as a consent by Requisite Lenders to the creation or assumption of any such Lien not otherwise permitted hereby.
Appears in 1 contract
Samples: Credit and Guaranty Agreement (Newtek Business Services Corp.)
