Common use of Limitation on Liens Securing Indebtedness Clause in Contracts

Limitation on Liens Securing Indebtedness. The Company and the Subsidiaries shall not, and shall not permit any of their Subsidiaries to, directly or indirectly, create, incur, assume or suffer to exist any Lien of any kind, other than Permitted Liens, upon any of their respective assets now owned or acquired on or after the date of this Indenture or upon any income or profits therefrom securing any Indebtedness of the Company or any Subsidiary other than Senior Indebtedness, unless the Company and such Subsidiary provides, and causes its Subsidiaries to provide, concurrently therewith, that the Notes are equally and ratably so secured; provided that, if such Indebtedness is Subordinated Indebtedness, the Lien securing such Subordinated Indebtedness shall be subordinate and junior to the Lien securing the Notes with the same relative priority as such Subordinated Indebtedness shall have with respect to the Notes; and provided, further, that this Section 4.09 shall not be applicable to any Liens securing any such Indebtedness which became Indebtedness of the Company pursuant to a transaction subject to the provisions described in Section 5.01 hereof or which constitutes Acquired Indebtedness and which in either case were in existence at the time of such transaction (unless such Indebtedness was incurred or such Lien created in connection with or in contemplation of such transaction), so long as such Liens do not extend to or cover any property or assets of the Company or any Subsidiary of the Company other than property or assets acquired in such transaction.

Limitation on Liens Securing Indebtedness. The Company and the Subsidiaries Guarantors shall not, and shall not permit any of their Subsidiaries to, directly or indirectly, create, incur, assume or suffer to exist any Lien of any kind, other than Permitted Liens, upon any of their respective assets now owned or acquired on or after the date of this Indenture or upon any income or profits therefrom securing any Indebtedness of the Company or any Subsidiary Guarantor other than Senior Indebtedness, unless the Company and such Subsidiary provides, and causes its Subsidiaries to provide, concurrently therewith, that the Notes Securities are equally and ratably so secured; provided , PROVIDED that, if such Indebtedness is Subordinated Indebtedness, the Lien securing such Subordinated Indebtedness shall be subordinate and junior to the Lien securing the Notes Securities with the same relative priority as such Subordinated Indebtedness shall have with respect to the Notes; Securities, and providedPROVIDED, furtherFURTHER, that this Section 4.09 clause shall not be applicable to any Liens securing any such Indebtedness which became Indebtedness of the Company pursuant to a transaction subject to the provisions of this Indenture described in below under Section 5.01 hereof 5.1 or which constitutes Acquired Indebtedness and which in either case were in existence at the time of such transaction (unless such Indebtedness was incurred or such Lien created in connection with or in contemplation of of, such transaction), so long as such Liens do not extend to or cover any property or assets of the Company or any Subsidiary of the Company other than property or assets acquired in such transaction.

Limitation on Liens Securing Indebtedness. The Company and the Subsidiaries Subsidiary Guarantors shall not, and shall not permit any of their Subsidiaries to, directly or indirectly, create, incur, assume or suffer to exist exist, to secure any Indebtedness, any Lien of any kind, other than Permitted Liens, upon any of their respective assets now owned or acquired on or after the date of this Indenture or upon any income or profits therefrom securing any Indebtedness of the Company or any Subsidiary other than Senior Indebtedness, unless the Company and such Subsidiary provides, and causes its Subsidiaries to provide, concurrently therewiththerewith or immediately thereafter, that the Notes Securities and the Guarantees, as applicable, are equally and ratably so securedsecured for so long as such Indebtedness so secured remains outstanding; provided that, if such Indebtedness is Subordinated Indebtedness, the Lien securing such Subordinated Indebtedness shall be subordinate and junior to the Lien securing the Notes Securities with the same relative priority as such Subordinated Indebtedness shall have with respect to the NotesSecurities; and provided, further, that this Section 4.09 shall not be applicable to any Liens securing any such Indebtedness which became that, in the case of Indebtedness of the Company pursuant a Subsidiary Guarantor, if such Subsidiary Guarantor shall cease to be a transaction subject to Subsidiary Guarantor in accordance with the provisions described in Section 5.01 hereof or which constitutes Acquired Indebtedness of this Indenture, such equal and which in either case were in existence at ratable Lien to secure the time of such transaction (unless such Indebtedness was incurred or such Lien created in connection with or in contemplation of such transaction)Securities shall, so long as such Liens do not extend without any further action, cease to or cover any property or assets of the Company or any Subsidiary of the Company other than property or assets acquired in such transactionexist.

Limitation on Liens Securing Indebtedness. The Company and the Subsidiaries Guarantors shall not, and shall not permit any of their Subsidiaries to, directly or indirectly, create, incur, assume or suffer to exist any Lien of any kind, other than Permitted Liens, upon any of their respective assets now owned or acquired on or after the date of this Indenture or upon any income or profits therefrom securing any Indebtedness of the Company or any Subsidiary other than Senior Indebtedness, unless the Company and such Subsidiary provides, and causes its Subsidiaries to provide, concurrently therewith, that the Notes are equally and ratably so secured; provided that, if such Indebtedness is Subordinated Indebtedness, the Lien securing such Subordinated Indebtedness shall be subordinate and junior to the Lien securing the Notes with the same relative priority as such Subordinated Indebtedness shall have with respect to the Notes; and provided, further, that this Section 4.09 4.11 shall not be applicable to any Liens securing any such Indebtedness which became Indebtedness of the Company pursuant to a transaction subject to the provisions described in Section 5.01 hereof or which constitutes Acquired Indebtedness and which in either case were in existence at the time of such transaction (unless such Indebtedness was incurred or such Lien created in connection with or in contemplation of of, such transaction), so long as such Liens do not extend to or cover any property or assets of the Company or any Subsidiary of the Company other than property or assets acquired in such transaction.

Limitation on Liens Securing Indebtedness. The Company and the Subsidiaries shall not, and shall not cause or permit any of their its Restricted Subsidiaries to, directly or indirectly, create, incur, assume or permit or suffer to exist any Lien Liens of any kind, other than Permitted Liens, upon any of their respective assets now owned or acquired on or after the date of this Indenture kind against or upon any income property or profits therefrom securing any Indebtedness assets of the Company or any Subsidiary of its Restricted Subsidiaries whether owned on the Issue Date or acquired after the Issue Date, or any proceeds therefrom, or assign or otherwise convey any right to receive income or profits therefrom unless (i) in the case of Liens securing Indebtedness that is expressly subordinate or junior in right of payment to the Notes, the Notes are secured by a Lien on such property, assets or proceeds that is senior in priority to such Liens and (ii) in all other than Senior Indebtednesscases, unless the Company and such Subsidiary provides, and causes its Subsidiaries to provide, concurrently therewith, that the Notes are equally and ratably so secured; provided that, if such Indebtedness is Subordinated Indebtedness, except for (A) Liens existing as of the Lien securing such Subordinated Indebtedness shall be subordinate and junior Issue Date to the Lien extent and in the manner such Liens are in effect on the Issue Date; (B) Liens securing Senior Debt and Liens securing Guarantor Senior Debt; (C) Liens securing the Notes and the Guarantees; (D) Liens of the Company or a Wholly Owned Restricted Subsidiary of the Company on assets of any Subsidiary of the Company; (E) Liens securing Refinancing Indebtedness which is incurred to Refinance any Indebtedness which has been secured by a Lien permitted under this Indenture and which has been incurred in accordance with the same relative priority as provisions of this Indenture; PROVIDED, HOWEVER, that such Subordinated Indebtedness shall have Liens (A) are no less favorable to the Holders and are not more favorable to the lienholders with respect to such Liens than the Notes; and provided, further, that this Section 4.09 shall not be applicable to any Liens securing any such Indebtedness which became Indebtedness in respect of the Company pursuant to a transaction subject to the provisions described in Section 5.01 hereof or which constitutes Acquired Indebtedness being Refinanced and which in either case were in existence at the time of such transaction (unless such Indebtedness was incurred or such Lien created in connection with or in contemplation of such transaction), so long as such Liens B) do not extend to or cover any property or assets of the Company or any Subsidiary of its Restricted Subsidiaries not securing the Company other than property or assets acquired in such transactionIndebtedness so Refinanced; and (F) Permitted Liens.

Limitation on Liens Securing Indebtedness. The Company and the Subsidiaries shall will not, and shall will not cause or permit any of their its Restricted Subsidiaries to, directly or indirectly, create, incur, assume or permit or suffer to exist any Lien Liens of any kind, other than Permitted Liens, upon kind securing any of their respective assets now owned or acquired on or after the date of this Indenture Indebtedness against or upon any income property or profits therefrom securing any Indebtedness assets of the Company or any Subsidiary other than Senior Indebtednessof its Restricted Subsidiaries whether owned on the Issue Date or acquired after the Issue Date, unless or any proceeds therefrom, or assign or otherwise convey any right to receive income or profits therefrom to secure any Indebtedness unless: (1) in the Company case of Liens securing Indebtedness that is expressly subordinate or junior in right of payment to the Notes or any Guarantee, the Notes and such Subsidiary providesGuarantee, as the case may be, are secured by a Lien on such property, assets or proceeds that is senior in priority to such Liens, and causes its Subsidiaries to provide(2) in all other cases, concurrently therewith, that the Notes and the Guarantees are equally and ratably so secured; provided that, if such Indebtedness is Subordinated Indebtedness, except for (A) Liens existing as of the Lien securing such Subordinated Indebtedness shall be subordinate and junior Issue Date to the Lien extent and in the manner such Liens are in effect on the Issue Date; (B) Liens securing Indebtedness incurred under the Credit Agreement; (C) Liens securing Senior Debt and Liens securing Guarantor Senior Debt; (D) Liens securing the Notes and the Guarantees; (E) Liens of the Company or a Restricted Subsidiary of the Company on assets of any Subsidiary of the Company; (F) Liens securing Refinancing Indebtedness which is incurred to Refinance any Indebtedness which has been secured by a Lien permitted under this Indenture and which has been incurred in accordance with the same relative priority as provisions of this Indenture; provided, however, that such Subordinated Indebtedness shall have Liens (i) are no less favorable to the Holders and are not more favorable to the lienholders with respect to such Liens than the Notes; and provided, further, that this Section 4.09 shall not be applicable to any Liens securing any such Indebtedness which became Indebtedness in respect of the Company pursuant to a transaction subject to the provisions described in Section 5.01 hereof or which constitutes Acquired Indebtedness being Refinanced and which in either case were in existence at the time of such transaction (unless such Indebtedness was incurred or such Lien created in connection with or in contemplation of such transaction), so long as such Liens ii) do not extend to or cover any property or assets of the Company or any Subsidiary of its Restricted Subsidiaries not securing the Company other than property or assets acquired in such transactionIndebtedness so Refinanced; and (G) Permitted Liens.