Existence of Liens. So long as this Note is outstanding, the Maker shall not, and the Maker shall not permit any of its subsidiaries (if any) to, directly or indirectly, allow or suffer to exist any mortgage, lien, pledge, charge, security interest or other encumbrance upon or in any property or assets (including accounts and contract rights) owned by the Maker or any of its subsidiaries (collectively, “Liens”) other than Permitted Liens.
Appears in 5 contracts
Samples: Securities Purchase Agreement (Ideal Power Inc.), Securities Purchase Agreement (Ideal Power Inc.), Senior Secured Convertible Promissory Note (Ideal Power Inc.)
