Lien Restrictions. Notwithstanding anything to the contrary contained in Section 10.5, no Liens permitted pursuant to the terms of Section 10.5 may secure any obligations under the Bank Credit Agreement or any private placement document pursuant to which the Company has issued senior notes, either existing as of the Closing Date or in the future unless the Company makes, or causes to be made, effective a provision whereby the Notes will be equally and ratably secured with any and all other obligations thereby secured, such security to be pursuant to an agreement reasonably satisfactory to the Required Holders.
Lien Restrictions. Create, incur, assume or suffer to exist any Lien upon any of its property or assets, whether now owned or hereafter acquired (whether or not provision is made for the equal and ratable securing of Notes in accordance with the provisions of paragraph 5D hereof), except:
(i) Liens for taxes or other governmental charges not yet due or which are being actively contested in good faith by appropriate proceedings;
(ii) Liens incidental to the conduct of its business or the ordinary operation or use of its property which were not incurred in connection with the borrowing of money or obtaining credit or advances;
(iii) Liens on property or assets of a Subsidiary to secure obligations of such Subsidiary to the Company or another Subsidiary;
(iv) Liens identified on EXHIBIT G to the Existing Agreement a copy of which is attached hereto;
(v) Liens relating to the ledger balances, consignments, and other similar arrangements and other Liens (including Liens consisting of Capitalized Lease Obligations and/or purchase money security interests) to secure Debt, provided that (x) the Debt to which the Lien relates is permitted by paragraph 6B(2) and (y) the aggregate amount of Debt (plus, without duplication, the aggregate amount of such ledger balances, consignments and other similar arrangements) secured by such Liens does not exceed at any time 20% of Consolidated Tangible Net Worth; and
(vi) Liens consisting of survey exceptions, minor encumbrance easements and rights of way, or zoning or other restrictions as to the use of real properties; provided, however, that such Liens in the aggregate do not materially impair the usefulness of such property in the business of the Company and its Subsidiaries, taken as a whole.
Lien Restrictions. The Company will not and will not permit any Subsidiary to create, assume or suffer to exist any Lien upon any of its property or assets, whether now owned or hereafter acquired (whether or not provision is made for the equal and ratable securing of the Obligations in accordance with the provisions of Section 6.13), except:
(a) Liens for taxes not yet due or which are being actively contested in good faith by appropriate proceedings and with respect to which the Company or the applicable Subsidiary maintains adequate reserves,
(b) Liens incidental to the conduct of its business or the ownership of its property and assets which were not incurred in connection with the borrowing of money or the obtaining of advances or credit,
(c) Liens on property or assets of a Subsidiary to secure obligations of such Subsidiary to the Company or another Subsidiary,
(d) Liens in existence on the Closing Date and described on Schedule 7.2(d),
(e) Liens in respect of capital leases entered into in connection with, or any Lien arising in connection with, the acquisition of property, after the date hereof and attaching only to the property being acquired, if the Indebtedness secured thereby does not exceed 100% of the lesser of (i) the fair market value of the property acquired at the time of acquisition thereof and (ii) the total purchase price of the property so acquired,
(f) other Liens (including Liens arising under capital leases), in addition to the Liens permitted by clauses (a) through (e) above and clauses (g) through (m) below, securing Indebtedness of the Company or any Subsidiary (other than Indebtedness that constitutes Subordinated Debt); provided, however, that (i) such Indebtedness is permitted by the provisions of Section 7.3 and (ii) the aggregate outstanding principal amount of all such Indebtedness (other than Indebtedness listed on Schedule 7.2(f)) does not at any time exceed $25,000,000,
(g) Liens in favor of the Collateral Agent,
(h) any interest or title of a lessor in property subject to any lease other than (i) except as permitted by clauses (e) and (f) above, a capital lease, (ii) a lease entered into as part of a sale and leaseback transaction or (iii) except as permitted by clause (d) above, a Synthetic Lease,
(i) any interest of a lessee or a sublessee in property owned or leased by the Company or any Subsidiary,
(j) any escrow, holdback or similar arrangement in connection with any sale, lease, transfer or other disposition of any asset not prohi...
Lien Restrictions. The Guarantor will not and will not permit any Subsidiary to create, assume or suffer to exist any Lien upon any of its property or assets, whether now owned or hereafter acquired (whether or not provision is made for the equal and ratable securing of the Obligations in accordance with the provisions of Section 10.1(m)), except:
(i) Liens for taxes not yet due or which are being actively contested in good faith by appropriate proceedings and with respect to which the Guarantor or the applicable Subsidiary maintains adequate reserves,
(ii) Liens incidental to the conduct of its business or the ownership of its property and assets which were not incurred in connection with the borrowing of money or the obtaining of advances or credit,
(iii) Liens on property or assets of a Subsidiary to secure obligations of such Subsidiary to the Guarantor or another Subsidiary,
(iv) Liens in existence on the Amendment Effective Date and described on Schedule VI,
(v) Liens in respect of capital leases entered into in connection with, or any Lien arising in connection with, the acquisition of property, after the date hereof and attaching only to the property being acquired, if the Indebtedness secured thereby does not exceed one hundred percent (100%) of the lesser of (i) the fair market value of the property acquired at the time of acquisition thereof and (ii) the total purchase price of the property so acquired,
(vi) other Liens (including Liens arising under capital leases), in addition to the Liens permitted by clauses (i) through (iv) above and clauses (vii) through (xi) below, securing Indebtedness of the Guarantor or any Subsidiary (other than Indebtedness that constitutes Subordinated Debt); provided, however, that (i) such Indebtedness is permitted by the provisions of Section 10.2(c) and (ii) the aggregate outstanding principal amount of all such Indebtedness (other than Indebtedness listed on Schedule 10.2(b)(vi)) does not at any time exceed $25,000,000,
(vii) Liens in favor of the Collateral Agent.
(viii) any interest or title of a lessor in property subject to any lease other than (A) subject to clause (i) above, a capital lease, (B) a lease entered into as part of a sale and leaseback transaction or (C) except for the transaction contemplated by the Operative Documents or as permitted by clause (iv) above, a Synthetic Lease,
(ix) any interest of a lessee or a sublessee in property owned or leased by the Guarantor or any Subsidiary,
(x) any escrow, holdback or s...
Lien Restrictions. Create, incur, assume or suffer to exist any Lien upon any of its property or assets, whether now owned or hereafter acquired (whether or not provision is made for the equal and ratable securing of Notes in accordance with the provisions of paragraph 5D hereof), except:
(i) Liens for taxes or other governmental charges not yet due or which are being actively contested in good faith by appropriate proceedings;
(ii) Liens incidental to the conduct of its business or the ordinary operation or use of its property which were not incurred in connection with the borrowing of money or obtaining credit or advances;
(iii) Liens on property or assets of a Subsidiary to secure obligations of such Subsidiary to the Company or another Subsidiary;
(iv) Liens identified on EXHIBIT G to the Existing Agreement a copy of which is attached hereto;
(v) Liens relating to the ledger balances, consignments, and other similar arrangements and other Liens (including Liens consisting of Capitalized Lease Obligations and/or purchase money security interests) to secure Debt,
Lien Restrictions. Liens for taxes not yet due or which are being actively contested in good faith by appropriate proceedings,
Lien Restrictions. The Company will not and will not permit any Subsidiary to create, assume or suffer to exist any Lien upon any of its property or assets, whether now owned or hereafter acquired (whether or not provision is made for the equal and ratable securing of the Obligations in accordance with the provisions of Section 6.13), except:
(a) Liens for taxes not yet due or which are being actively contested in good faith by appropriate proceedings,
(b) Liens incidental to the conduct of its business or the ownership of its property and assets which were not incurred in connection with the borrowing of money or the obtaining of advances or credit,
(c) Liens on property or assets of a Subsidiary to secure obligations of such Subsidiary to the Company or another Subsidiary,
(d) Liens in existence on April 13, 1992 described on Schedule 7.2, and
(e) other Liens (including Liens consisting of capitalized leases) securing Funded Debt (other than Funded Debt that constitutes Subordinated Debt); provided, however, that (i) such Funded Debt is permitted by the provisions of Section 7.3 and (ii) the aggregate amount of all Secured Funded Debt outstanding does not at any time exceed an amount equal to fifteen percent (15%) of Consolidated Net Worth.
Lien Restrictions. The Company will not and will not permit any Subsidiary to create, assume or suffer to exist any Lien upon any of its property or assets, whether now owned or hereafter acquired (whether or not provision is made for the equal and ratable securing of the Obligations in accordance with the provisions of Section 6.13), except:
Lien Restrictions. Section 7.1(n) of the Credit Agreement is amended and restated in its entirety to read as follows:
Lien Restrictions. The LLC Agreement requires consent of the “Board” (as defined in the LLC Agreement) to make distributions. Further, pursuant to the terms of the LLC Agreement, the consent of NGP X US Holdings, L.P. is required to make tax distributions.
