Limitation on Encumbrances. The Company shall not, and shall not permit any of its Subsidiaries to, directly or indirectly, create, incur, assume or otherwise suffer to exist or cause or otherwise suffer to become effective any Lien in or on any right, title or interest to any property (real or personal) that constitutes all or any portion of the Collateral (a "Restricted Encumbrance," which term excludes the Lien created in favor of the Holder) unless such Restricted Encumbrance is a Permitted Lien.
Limitation on Encumbrances. The Borrower shall not, and shall not permit any ACS Bermuda Subsidiary to, create, Incur, assume or suffer to exist any mortgage, pledge, lien, encumbrance, charge or security interest (in each case, an “Encumbrance”), including, without limitation, any conditional sale, any sale with recourse against any ACS Bermuda Subsidiary or any Affiliate of any ACS Bermuda Subsidiary, or any agreement to give any security interest over or with respect to any of the Borrower’s or any ACS Bermuda Subsidiary’s assets (other than the segregation of the Segregated Funds) including, without limitation, all shares of capital stock, all beneficial interests in trusts, all ordinary shares and preferred shares and any options, warrants and other rights to acquire such shares or beneficial interests (“Ownership Interest”) and any Indebtedness of any ACS Bermuda Subsidiary held by the Borrower or any ACS Bermuda Subsidiary. Notwithstanding the foregoing, the Borrower may create, Incur, assume or suffer to exist (i) any Permitted Encumbrance, (ii) any security interest created or required to be created under the Security Documents, (iii) Encumbrances over rights in or derived from Leases upon the prior written consent of the Facility Agent, (provided that any transaction or series of transactions resulting in such Encumbrance, taken as a whole, does not materially adversely affect the amount of Collections that would have been received by the Borrower and any other ACS Bermuda Group Member from such Lease had such Encumbrance not been created), (iv) any other Encumbrance the validity or applicability of which is being contested in good faith in appropriate proceedings by the Borrower or any ACS Bermuda Subsidiary and enforcement of which is stayed or effectively bonded, (v) any Encumbrance in connection with any transfer of title to or Lease of Aircraft (A) to or in favor of a trust or an entity (which, in either case, is not an ACS Group Member) for the purpose of registering the Aircraft under the laws of an applicable jurisdiction so long as, however, the Borrower or any ACS Bermuda Subsidiary retains the beneficial or economic ownership of the Aircraft or (B) from such trust or entity to the Borrower or an ACS Bermuda Subsidiary (subject in the case of this subclause (v) to the limitations set forth in subclause (vi) of Section 5.02(g) below), and (vi) any lien created in favor of the issuer of a surety bond, letter of credit or similar instrument to be obtained by the Borr...
Limitation on Encumbrances. The Issuer shall not, and shall not permit any Issuer Subsidiary to, create, Incur, assume or suffer to exist any mortgage, pledge, lien, encumbrance, charge or security interest (in each case, an "Encumbrance"), including, without limitation, any conditional sale, any sale with recourse against the Seller or any Affiliate of the Seller, or any agreement to give any security interest over or with respect to any of the Issuer's or any Issuer Subsidiary's assets (other than the segregation of the Segregated Funds) including, without limitation, all shares of capital stock, all beneficial interests in trusts, all ordinary shares and preferred shares and any options, warrants and other rights to acquire such shares or interests ("Ownership Interest") and any Indebtedness of any Issuer Subsidiary held by the Issuer or any Issuer Subsidiary. Notwithstanding the foregoing, the Issuer may create, Incur, assume or suffer to exist (i) any Permitted Encumbrance, (ii) any security interest created or required to be created under the Security Trust Agreement, (iii) Encumbrances over rights in or derived from Leases, upon Rating Agency Confirmation (provided that any transaction or series of transactions resulting in such Encumbrance, taken as a whole, does not materially adversely affect the amount of Collections that would have been received by the Issuer and any other Issuer Group Member from such Lease had such Encumbrance not been created) or (iv) any other Encumbrance the validity or applicability of which is being contested in good faith in appropriate proceedings by the Issuer or any Issuer Subsidiary.
Limitation on Encumbrances. Create, incur, assume or permit to exist any Encumbrance on any property or assets (including Equity Interests of any of its Subsidiaries) now owned or hereafter acquired by it or on any income or rights in respect of any thereof, except for Permitted Encumbrances.
Limitation on Encumbrances. Each Partner shall be prohibited from pledging, granting a security interest in, or otherwise encumbering such Partner's interest in the Partnership, or any part thereof, without the prior written consent of each other Partner.
Limitation on Encumbrances. The Corporation shall not create, assume or suffer to exist and shall immediately satisfy or release any mortgage, deed of trust, pledge, security interest, encumbrance, lien, attachment or charge of any kind (including the charge upon property purchased under conditional sales or other title retention agreements) upon the Facilities or the Gross Revenues; provided, however, that notwithstanding the foregoing provision, the Corporation may create, assume or suffer to exist Permitted Encumbrances.
Limitation on Encumbrances. Neither Borrower nor its subsidiaries will directly or indirectly, subordinate to any other person the payment of any indebtedness owed by any person to any of them, nor, except as specified on Attachment 3.10, shall they incur, create, assume or suffer to exist, any pledge, lien or encumbrances upon any properties or assets owned by any of them, except for security interest held by Bankers’, but so long as no other provision of this Loan Agreement and the documents supplemental hereto is violated, the following are permitted:
(a) Mechanics, materialmens, carriers and other similar liens incurred in the ordinary course of business; and
(b) Liens of taxes or assessments not at the time due, or the liens of taxes or assessments already due, but the validity of which is being contested in good faith and which adequate reserves have been established; and
(c) Judgment liens, so long as the finality of such Judgment is being contested in good faith and execution thereon is stayed; and
(d) Easements, zoning restrictions or similar defects, encumbrances or restrictions the existence of which does not impair the use of the property subject thereto; and
(e) Actions appropriate under customary banking practices in dealing with past-due “work-out” loans.
Limitation on Encumbrances. Except with the consent of CDA and YIDA, notwithstanding any other term or condition contained herein, prior to the Closing Date neither the Company nor any party to this Agreement has authority to encumber its interests under this Agreement or under the Development Leases or Financing Leases; provided, however, the interests of the Company may be encumbered with respect to a loan from the City 108 Loan Fund to an entity formed by Xxxxx Xxxxxxxx and Xxxx Xxxxxx, where the proceeds are used to fund costs incurred by the Company pending the Closing. The Company shall not engage in any financing or any other transaction creating any mortgage or other encumbrance or lien upon the Disposition Parcels, or any part thereof, except the Company Parcels, whether by express agreement or by operation of law, or suffer any encumbrance or lien to be made on or attach thereto, except for the purposes of obtaining a Recognized Mortgage. The Company agrees it shall promptly notify the CDA and the YIDA of any encumbrance or lien that has been created on or attached to the Disposition Parcels (except the Company Parcels), whether by voluntary act of the Company or otherwise.
Limitation on Encumbrances. Neither Company shall grant a security interest in, borrow on the security of, hypothecate, assign or dispose of any of the insurance policies referred to in this Article or any part thereof except to the extent that such policies are charged or encumbered from time to time by security instruments granted by such Company in good faith to its lenders for genuine corporate borrowing purposes approved by the applicable Board.
Limitation on Encumbrances. 19 6.8. Limitation on Related Party Transactions................20 6.9. Limitation on Dividends; Stock Issuances................20 6.10.
