Common use of Limitation on Encumbrances Clause in Contracts

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.

Appears in 6 contracts

Samples: 15% Secured Note (Bio Plexus Inc), 15% Secured Note (Appaloosa Management Lp), Secured Note (Appaloosa Management Lp)

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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 HolderHolders) unless such Restricted Encumbrance is a Permitted Lien.

Appears in 3 contracts

Samples: Convertible Note Purchase Agreement (Appaloosa Management Lp), Convertible Note Purchase Agreement (Bio Plexus Inc), Note Purchase Agreement (Appaloosa Management Lp)

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Limitation on Encumbrances. The Except as set forth on Schedule 6.7, 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 HolderHolders) unless such Restricted Encumbrance is a Permitted Lien.

Appears in 2 contracts

Samples: Convertible Note Purchase Agreement (Appaloosa Management Lp), Convertible Note Purchase Agreement (Bio Plexus Inc)

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