Common use of Limitation on Liens Securing Indebtedness Clause in Contracts

Limitation on Liens Securing Indebtedness. The Company will not, and will not permit any of Restricted Subsidiaries to, create, incur, assume or suffer to exist any Liens (other than Permitted Liens) upon any of their respective properties securing (a) any Indebtedness of the Company (other than Senior Indebtedness of the Company), unless the Notes are equally and ratably secured until such time as such obligations are no longer secured by a Lien or (b) any Indebtedness of any Subsidiary Guarantor (other than Senior Indebtedness of such Subsidiary Guarantor), unless the Guarantees of such Subsidiary Guarantors are equally and ratably secured until such time as such obligations are no longer secured by a Lien; provided, however, that if such Indebtedness is expressly subordinated to the Notes or the Guarantees, the Lien securing such Indebtedness will be subordinated and junior to the Lien securing the Notes or the Guarantees, with the same relative priority as such subordinated Indebtedness of the Company or a Subsidiary Guarantor will have with respect to the Notes or the Guarantees, as the case may be.

Limitation on Liens Securing Indebtedness. The Company and the Guarantor will not, and will not permit any of Restricted Subsidiaries Subsidiary thereof to, create, incur, assume or suffer to exist any Liens (other than Permitted Liens) upon any of their respective properties securing (ai) any Indebtedness of the Company (other than Senior Indebtedness of the Company), unless the Notes are equally and ratably secured until such time as such obligations are no longer secured by a Lien or (bii) any Indebtedness of any Subsidiary the Guarantor (other than Senior Indebtedness of such Subsidiary Guarantor), ) unless the Guarantees of such Subsidiary Guarantors are Guarantee is equally and ratably secured until such time as such obligations are no longer secured by a Liensecured; provided, however, that if such Indebtedness is expressly subordinated to the Notes or the GuaranteesGuarantee, the Lien securing such Indebtedness will be subordinated and junior to the Lien securing the Notes or the GuaranteesGuarantee, with the same relative priority as such subordinated Subordinated Indebtedness of the Company or a Subsidiary the Guarantor will have with respect to the Notes or the GuaranteesGuarantee, as the case may be, and provided further that the terms and conditions of any Lien securing the Notes shall be acceptable to the Trustee. The Trustee shall not be required to foreclose or realize on any Lien securing the Notes if in the judgment -54- 62 of the Trustee, to do so would expose the Trustee to liability for which the Trustee believes it would not be adequately indemnified.

Limitation on Liens Securing Indebtedness. The After the occurrence of a Fall-away Event, the Company will shall not, and will shall not permit any of Restricted Subsidiaries Subsidiary to, create, incurincur or assume any Lien (other than any Permitted Lien) on any properties or assets of the Company or any Restricted Subsidiary to secure the payment of Indebtedness of the Company or any Subsidiary if immediately after the creation, assume incurrence or suffer to exist any assumption of such Lien, the aggregate outstanding principal amount of all Indebtedness of the Company and the Subsidiaries that is secured by Liens (other than Permitted Liens) upon on any of their respective properties securing (a) any Indebtedness or assets of the Company and any Restricted Subsidiaries (other than Senior (x) Indebtedness of the Company), unless the Notes are that is so secured equally and ratably secured until with (or on a basis subordinated to) the Securities and (y) the Securities) plus the aggregate amount of all Attributable Debt of the Company and the Restricted Subsidiaries with respect to all Sale and Leaseback Transactions outstanding at such time as such obligations are no longer secured by a Lien or (b) any Indebtedness of any Subsidiary Guarantor (other than Senior Indebtedness Sale and Leaseback Transactions permitted by the second paragraph under Section 1024) would exceed 10% of such Subsidiary Guarantor), the Consolidated Net Tangible Assets unless the Guarantees of such Subsidiary Guarantors are Company secures the outstanding Securities equally and ratably with (or prior to) all Indebtedness secured until by such time Lien, so long as such obligations are no longer secured by a Lien; provided, however, that if such Indebtedness is expressly subordinated to the Notes or the Guarantees, the Lien securing such Indebtedness will shall be subordinated and junior to the Lien securing the Notes or the Guarantees, with the same relative priority as such subordinated Indebtedness of the Company or a Subsidiary Guarantor will have with respect to the Notes or the Guarantees, as the case may beso secured.