Common use of Judgments and Liens Clause in Contracts

Judgments and Liens. Neither the Securityholders nor the Company shall not create, incur, assume or permit to exist any mortgage, lien, security interest, charge or encumbrance on any property or assets now owned or hereafter acquired by them except: (a) Liens arising out of judgments or awards (i) which have been in force less than the applicable appeal period so long as execution is not levied thereunder, or (ii) in respect of which the Company shall in good faith be prosecuting an appeal or proceedings for review and in respect of which the Company shall have secured a subsisting stay of execution pending such appeal or proceedings for review; (b) Liens for taxes, assessments or governmental charges or levies, provided payment thereof shall not at the time be required; (c) Deposits, liens, bonds or pledges to secure payment of worker's compensation, unemployment insurance, pensions or other social obligations, surety, stay or appeal bonds, or other similar obligations arising in the ordinary course of business; (d) Mechanic's, worker's, repairmen's, warehousemen's, vendor's, or carrier's liens, or other similar liens arising in the ordinary course of business and securing sums which are not past due, or deposits or pledges to obtain the release of any such liens; (e) Liens arising by operation of law under lease agreements made in the ordinary course of business and confined to the property rented; (f) Liens on property securing the purchase price of property acquired after the date hereof provided that each of such lien (i) is given solely to secure indebtedness not exceeding one hundred percent (100%) of the lesser of the cost or fair market value of such property, (ii) does not extend to any other property and (iii) is given at the time of acquisition of the property; (g) Presently outstanding liens; (h) liens and encumbrances securing indebtedness to Senior Creditors; and (i) Extension, renewal or refunding of indebtedness secured by liens permitted by this Section 7.12, provided that the then outstanding amount of such indebtedness is not increased and such liens do not extend to property not then encumbered thereby.

Judgments and Liens. Neither the Securityholders Securityholder nor the Company shall not create, incur, assume or permit to exist any mortgage, lien, security interest, charge or encumbrance on any property or assets now owned or hereafter acquired by them the Company except: (a) Liens arising out of judgments or awards (i) which have been in force less than the applicable appeal period so long as execution is not levied thereunder, or (ii) in respect of which the Company shall in good faith be prosecuting an appeal or proceedings for review and in respect of which the Company shall have secured a subsisting stay of execution pending such appeal or proceedings for review; (b) Liens for taxes, assessments or governmental charges or levies, provided payment thereof shall not at the time be required; (c) Deposits, liens, bonds or pledges to secure payment of worker's compensation, unemployment insurance, pensions or other social obligations, surety, stay or appeal bonds, or other similar obligations arising in the ordinary course of business; (d) Mechanic's, worker's, repairmen's, warehousemen's, vendor's, or carrier's liens, or other similar liens arising in the ordinary course of business and securing sums which are not past due, or deposits or pledges to obtain the release of any such liens; (e) Liens arising by operation of law under lease agreements made in the ordinary course of business and confined to the property rented; (f) Liens on property securing the purchase price of property acquired after the date hereof provided that each of such lien (i) is given solely to secure indebtedness not exceeding one hundred percent (100%) of the lesser of the cost or fair market value of such property, (ii) does not extend to any other property and (iii) is given at the time of acquisition of the property; (g) Presently outstanding liens; (h) liens and encumbrances securing indebtedness to Senior Creditors; and (ih) Extension, renewal or refunding of indebtedness secured by liens permitted by this Section 7.127.11, provided that the then outstanding amount of such indebtedness is not increased and such liens do not extend to property not then encumbered thereby.

Judgments and Liens. Neither the Securityholders nor the Company shall not create, incur, assume or permit to exist any mortgage, lien, security interest, charge or encumbrance on any property or assets now owned or hereafter acquired by them the Company except: (a) Liens arising out of judgments or awards awards (i) which have been in force less than the applicable appeal period so long as execution is not levied thereunder, or (ii) in respect of which the Company shall in good faith be prosecuting an appeal or proceedings for review and in respect of which the Company shall have secured a subsisting stay of execution pending such appeal or proceedings for review; (b) Liens for taxes, assessments or governmental charges or levies, provided payment thereof shall not at the time be required; (c) Deposits, liens, bonds or pledges to secure payment of worker's compensation, unemployment insurance, pensions or other social obligations, surety, stay or appeal bonds, or other similar obligations arising in the ordinary course of business; (d) Mechanic's, worker's, repairmen's, warehousemen's, vendor's, or carrier's liens, or other similar liens arising in the ordinary course of business and securing sums which are not past due, or deposits or pledges to obtain the release of any such liens; (e) Liens arising by operation of law under lease agreements made in the ordinary course of business and confined to the property rented; (f) Liens on property securing the purchase price of property acquired after the date hereof provided that each of such lien (i) is given solely to secure indebtedness not exceeding one hundred percent (100%) of the lesser of the cost or fair market value of such property, (ii) does not extend to any other property and (iii) is given at the time of acquisition of the property; (g) Presently outstanding liens; (h) liens and encumbrances securing indebtedness to Senior Creditors; and (i) Extension, renewal or refunding of indebtedness secured by liens permitted by this Section 7.127.11, provided that the then outstanding amount of such indebtedness is not increased and such liens do not extend to property not then encumbered thereby.

Judgments and Liens. Neither The Securityholders or the Securityholders nor the Company Seller shall not create, incur, assume or permit to exist any mortgage, lien, security interest, charge or encumbrance on any property or assets now owned or hereafter acquired by them the Seller except: (a) Liens arising out of judgments or awards (i) which have been in force less than the applicable appeal period so long as execution is not levied thereunder, or (ii) in respect of which the Company Seller shall in good faith be prosecuting an appeal or proceedings for review and in respect of which the Company Seller shall have secured a subsisting stay of execution pending such appeal or proceedings for review; (b) Liens for taxes, assessments or governmental charges or levies, provided payment thereof shall not at the time be required; (c) Deposits, liens, bonds or pledges to secure payment of worker's compensation, unemployment insurance, pensions or other social obligations, surety, stay or appeal bonds, or other similar obligations arising in the ordinary course of business; (d) Mechanic's, worker's, repairmen's, warehousemen's, vendor's, or carrier's liens, or other similar liens arising in the ordinary course of business and securing sums which are not past due, or deposits or pledges to obtain the release of any such liens; (e) Liens arising by operation of law under lease agreements made in the ordinary course of business and confined to the property rented; (f) Liens on property securing the purchase price of property acquired after the date hereof provided that each of such lien (i) is given solely to secure indebtedness not exceeding one hundred percent (100%) of the lesser of the cost or fair market value of such property, (ii) does not extend to any other property and (iii) is given at the time of acquisition of the property; (g) Presently outstanding liens, including lines of credit and accounts receivable financing presently utilized by the Seller; (h) liens and encumbrances securing indebtedness to Senior Creditors; and (i) Extension, renewal or refunding of indebtedness secured by liens permitted by this Section 7.12, provided that the then outstanding amount of such indebtedness is not increased and such liens do not extend to property not then encumbered thereby.

Judgments and Liens. Neither the The Securityholders nor or the Company shall not create, incur, assume or permit to exist any mortgage, lien, security interest, charge or encumbrance on any property or assets now owned or hereafter acquired by them the Company except: (a) Liens arising out of judgments or awards awards (i) which have been in force less than the applicable appeal period so long as execution is not levied thereunder, or (ii) in respect of which the Company shall in good faith be prosecuting an appeal or proceedings for review and in respect of which the Company shall have secured a subsisting stay of execution pending such appeal or proceedings for review; (b) Liens for taxes, assessments or governmental charges or levies, provided payment thereof shall not at the time be required; (c) Deposits, liens, bonds or pledges to secure payment of worker's compensation, unemployment insurance, pensions or other social obligations, surety, stay or appeal bonds, or other similar obligations arising in the ordinary course of business; (d) Mechanic's, worker's, repairmen's, warehousemen's, vendor's, or carrier's liens, or other similar liens arising in the ordinary course of business and securing sums which are not past due, or deposits or pledges to obtain the release of any such liens; (e) Liens arising by operation of law under lease agreements made in the ordinary course of business and confined to the property rented; (f) Liens on property securing the purchase price of property acquired after the date hereof provided that each of such lien (i) is given solely to secure indebtedness not exceeding one hundred percent (100%) of the lesser of the cost or fair market value of such property, (ii) does not extend to any other property and (iii) is given at the time of acquisition of the property; (g) Presently outstanding liens; (h) liens and encumbrances securing indebtedness to Senior Creditors; and (i) Extension, renewal or refunding of indebtedness secured by liens permitted by this Section 7.12, provided that the then outstanding amount of such indebtedness is not increased and such liens do not extend to property not then encumbered thereby.

Judgments and Liens. Neither the Securityholders nor Pierces or the Company shall not create, incur, assume or permit to exist any mortgage, lien, security interest, charge or encumbrance on any property or assets now owned or hereafter acquired by them the Company except: (a) Liens arising out of judgments or awards awards (i) which have been in force less than the applicable appeal period so long as execution is not levied thereunder, or (ii) in respect of which the Company shall in good faith be prosecuting an appeal or proceedings for review and in respect of which the Company shall have secured a subsisting stay of execution pending such appeal or proceedings for review; (b) Liens for taxes, assessments or governmental charges or levies, provided payment thereof shall not at the time be required; (c) Deposits, liens, bonds or pledges to secure payment of worker's compensation, unemployment insurance, pensions or other social obligations, surety, stay or appeal bonds, or other similar obligations arising in the ordinary course of business; (d) Mechanic's, worker's, repairmen's, warehousemen's, vendor's, or carrier's liens, or other similar liens arising in the ordinary course of business and securing sums which are not past due, or deposits or pledges to obtain the release of any such liens; (e) Liens arising by operation of law under lease agreements made in the ordinary course of business and confined to the property rented; (f) Liens on property securing the purchase price of property acquired after the date hereof provided that each of such lien (i) is given solely to secure indebtedness not exceeding one hundred percent (100%) of the lesser of the cost or fair market value of such property, (ii) does not extend to any other property and (iii) is given at the time of acquisition of the property; (g) Presently outstanding liens; (h) liens and encumbrances securing indebtedness to Senior Creditors; and (i) Extension, renewal or refunding of indebtedness secured by liens permitted by this Section 7.12, provided that the then outstanding amount of such indebtedness is not increased and such liens do not extend to property not then encumbered thereby.

Judgments and Liens. Neither the Securityholders nor the Company shall not create, incur, assume or permit to exist any mortgage, lien, security interest, charge or encumbrance on any property or assets now owned or hereafter acquired by them the Company except: (a) Liens arising out of judgments or awards (i) which have been in force less than the applicable appeal period so long as execution is not levied thereunder, or (ii) in respect of which the Company shall in good faith be prosecuting an appeal or proceedings for review and in respect of which the Company shall have secured a subsisting stay of execution pending such appeal or proceedings for review; (b) Liens for taxes, assessments or governmental charges or levies, provided payment thereof shall not at the time be required; (c) Deposits, liens, bonds or pledges to secure payment of worker's compensation, unemployment insurance, pensions or other social obligations, surety, stay or appeal bonds, or other similar obligations arising in the ordinary course of business; (d) Mechanic's, worker's, repairmen's, warehousemen's, vendor's, or carrier's liens, or other similar liens arising in the ordinary course of business and securing sums which are not past due, or deposits or pledges to obtain the release of any such liens;: (e) Liens arising by operation of law under lease agreements made in the ordinary course of business and confined to the property rentedrented (other than liens arising as a result of any default thereunder); (f) Liens on property securing the purchase price of property acquired after the date hereof provided that each of such lien (i) is given solely to secure indebtedness not exceeding one hundred percent (100%) of the lesser of the cost or fair market value of such property, (ii) does not extend to any other property property, and (iii) is given at the time of acquisition of the property; (g) Presently outstanding liens; (h) liens and encumbrances securing indebtedness to Senior Creditors; and (ih) Extension, renewal or refunding of indebtedness secured by liens permitted by this Section 7.127.11, provided that the then outstanding amount of such indebtedness is not increased and such liens do not extend to property not then encumbered thereby.