Indebtedness; Granting of Security Interests Sample Clauses

Indebtedness; Granting of Security Interests. (a) Incur any Indebtedness, whether direct or indirect, contingent or otherwise, except for:
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Indebtedness; Granting of Security Interests. Suffer or permit any Borrower to incur any new indebtedness for borrowed money (except for intercompany indebtedness by and among the Subsidiaries and/or BTG, with no third party financing or participation, and trade debt incurred in the ordinary course of business), or guarantee or otherwise become obligated for any indebtedness of others (except for indebtedness of another Borrower as expressly permitted above in this Section 7), or mortgage, assign, pledge, hypothecate or otherwise encumber or permit any lien, security interest or other encumbrance, including purchase money liens, whether under conditional or installment sales arrangements or otherwise, to affect the Collateral or any other assets or properties of any Borrower (except for Permitted Liens). Notwithstanding anything contained in this Section 7 of Article VII to the contrary, it is understood and agreed that the negative covenant set forth in this Section 7 (prohibiting new indebtedness for borrowed money) shall not be violated by the Subordinate Debt; provided that BTG and the Subordinate Lenders shall have executed and delivered to the Agent a subordination agreement (the 11 12 "Subordination Agreement"), in form and substance acceptable to the Agent in all respects, pursuant to which the Subordinate Debt, including without limitation, any and all rights of payment and/or collection thereof, and/or enforcement of the Subordinated Note, shall be subordinated in every respect to the payment and collection of the Loan. Furthermore, each of the Borrowers agrees that it will not enter into any agreement or understanding with any person or entity pursuant to which any of the Borrowers agrees to be bound by a covenant not to encumber all or any part of the property or assets of any Borrower."
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Indebtedness; Granting of Security Interests. (a) suffer or permit any Borrower to incur any Indebtedness in excess of One Million and No/100 Dollars ($1,000,000.00), in the aggregate, per annum, whether direct or indirect, except for:
Sample 1

Related to Indebtedness; Granting of Security Interests

  • Grant of Security Interests In addition to the other rights provided in this Section 9.9, each Lender may grant a security interest in, or otherwise assign as collateral, any of its rights under this Agreement, whether now owned or hereafter acquired (including rights to payments of principal or interest on the Loans), to (A) any federal reserve bank (pursuant to Regulation A of the Federal Reserve Board), without notice to Agent or (B) any holder of, or trustee for the benefit of the holders of, such Lender’s Indebtedness or equity securities, by notice to Agent; provided, however, that no such holder or trustee, whether because of such grant or assignment or any foreclosure thereon (unless such foreclosure is made through an assignment in accordance with clause (b) above), shall be entitled to any rights of such Lender hereunder and no such Lender shall be relieved of any of its obligations hereunder.

  • Pledge and Grant of Security Interest To secure the prompt payment and performance in full when due, whether by lapse of time or otherwise, of the Pledgor Obligations (as defined in Section 3 hereof), each Pledgor hereby pledges and assigns to the Agent, for the benefit of the Lenders, and grants to the Agent, for the benefit of the Lenders, a continuing security interest in any and all right, title and interest of such Pledgor in and to the following, whether now owned or existing or owned, acquired, or arising hereafter (collectively, the "Pledged Collateral"):

  • Grant of Security Interest All Cash Collateral (other than credit support not constituting funds subject to deposit) shall be maintained in blocked, non-interest bearing deposit accounts at Bank of America. The Borrower, and to the extent provided by any Lender, such Lender, hereby grants to (and subjects to the control of) the Administrative Agent, for the benefit of the Administrative Agent, the L/C Issuer and the Lenders (including the Swing Line Lender), and agrees to maintain, a first priority security interest in all such cash, deposit accounts and all balances therein, and all other property so provided as collateral pursuant hereto, and in all proceeds of the foregoing, all as security for the obligations to which such Cash Collateral may be applied pursuant to Section 2.14(c). If at any time the Administrative Agent determines that Cash Collateral is subject to any right or claim of any Person other than the Administrative Agent as herein provided, or that the total amount of such Cash Collateral is less than the applicable Fronting Exposure and other obligations secured thereby, the Borrower or the relevant Defaulting Lender will, promptly upon demand by the Administrative Agent, pay or provide to the Administrative Agent additional Cash Collateral in an amount sufficient to eliminate such deficiency.

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