Common use of Impairment of Security Interests Clause in Contracts

Impairment of Security Interests. None of the Credit Parties will take or omit to take any action, which action or omission might or would have the result of materially impairing the security interests in favor of the Agent on behalf of the Secured Parties with respect to the Collateral, and none of the Credit Parties will grant to any Person (other than the Secured Parties pursuant to the Collateral Documents) any interest whatsoever in the Collateral, except for Permitted Liens.

Impairment of Security Interests. None No Credit Party will, and no Credit Party will permit any of the Credit Parties will its Subsidiaries to, take or omit to take any action, action which action or omission might or would have the result of materially impairing the security interests in favor of the Administrative Agent on behalf of the Secured Parties with respect to the Collateral, and none of the Credit Parties will Collateral or grant to any Person (other than the Administrative Agent for the benefit of the Secured Parties pursuant to the Collateral Security Documents) any interest whatsoever in the Collateral, except for Permitted LiensLiens permitted under Section 12.2 and asset sales permitted under Section 12.5.