Common use of Limitation on Liens; Transfer Restrictions Clause in Contracts

Limitation on Liens; Transfer Restrictions. Except as permitted by the Credit Agreement, the Mortgagor may not, without the prior written consent of the Mortgagee, further mortgage, encumber, hypothecate, sell, convey or assign all or any part of the Mortgaged Property or suffer or allow any of the foregoing to occur by operation of law or otherwise; provided, however, the Mortgagor shall have the right to suffer to exist the following Liens in respect of the Mortgaged Property: (i) Prior Liens (but not extensions, amendments, supplements or replacements of Prior Liens unless consented to by the Mortgagee), (ii) the Lien and security interest created by this Mortgage, (iii) Contested Liens (so long as no Event of Default shall have occurred and be continuing), (iv) Liens described in clauses (a), (b), (c), (d), (e), (g), (h), (1) and (m) of the definition of Permitted Liens and (v) Leases to the extent permitted pursuant to the provisions of Article V hereof (the Liens described in clauses (i) through (v) of this sentence, collectively, “Permitted Collateral Liens”).

Appears in 2 contracts

Samples: Credit Agreement (Cpi International, Inc.), Credit Agreement (Cpi International, Inc.)

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Limitation on Liens; Transfer Restrictions. Except as permitted by the Credit Agreement, the Mortgagor may not, without the prior written consent of the Mortgagee, further mortgage, encumber, hypothecate, sell, convey or assign all or any part of the Mortgaged Property or suffer or allow any of the foregoing to occur by operation of law or otherwise; provided, however, the Mortgagor shall have the right to suffer to exist the following Liens in respect of the Mortgaged Property: (i) Prior Liens (but not extensions, amendments, supplements or replacements of Prior Liens unless consented to by the Mortgagee), (ii) the Lien and security interest created by this Mortgage, (iii) Contested Liens (so long as no Event of Default shall have occurred and be continuing), (iv) Liens described in clauses (a), (b), (c), (d), (e), (g), (h), (i), (j), (1), (m), (o), (p) and (ms) of the definition of Permitted Liens and (v) Leases to the extent permitted pursuant to the provisions of Article V hereof (the Liens described in clauses (i) through (v) of this sentence, collectively, “Permitted Collateral Liens”).

Appears in 2 contracts

Samples: Credit Agreement (Cpi International, Inc.), Credit Agreement (Cpi International, Inc.)

Limitation on Liens; Transfer Restrictions. Except as permitted by the Credit Agreement, the (a) The Mortgagor may not, without the prior written consent of the Mortgagee, further mortgage, encumber, hypothecate, sell, convey encumber or assign hypothecate all or any part of the Mortgaged Property or suffer or allow any of the foregoing to occur by operation of law or otherwise; provided, however, that so long as no Event of Default shall have occurred and be continuing, the Mortgagor shall have the right to suffer to exist the following Liens in respect of the Mortgaged Property: (i) Prior Liens (but not extensions, amendments, supplements or replacements of Prior Liens unless consented to by the Mortgagee), ; (ii) the Lien and security interest created by this Mortgage, (iii) Contested Permitted Liens (so long as no Event of Default shall have occurred and be continuing), (iv) Liens other than those described in clauses (a), (b), (c), (dj), (e), (g), (h), (1l) and (mp) of the definition of Permitted Liens); (iii) the Liens created pursuant to the Collateral Documents (as such term is defined in the First Priority Indenture) and (viv) Leases to the extent permitted pursuant to the provisions of Article V hereof (the Liens described in clauses (i) through (viv) of this sentence, collectively, "Permitted Collateral Mortgaged Property Liens"). (b) The Mortgagor shall not sell, convey or otherwise dispose of any part of the Mortgaged Property except as permitted in the First Priority Indenture.

Appears in 1 contract

Samples: First Fee and Leasehold Mortgage, Assignment of Leases and Rents, Security Agreement and Fixture Filing (Trump Indiana Inc)

Limitation on Liens; Transfer Restrictions. Except as permitted by the Credit Agreement, the (a) The Mortgagor may not, without the prior written consent of the Mortgagee, further mortgage, encumber, hypothecate, sell, convey encumber or assign hypothecate all or any part of the Mortgaged Property or suffer or allow any of the foregoing to occur by operation of law or otherwise; provided, however, that so long as no Event of Default shall have occurred and be continuing, the Mortgagor shall have the right to suffer to exist the following Liens in respect of the Mortgaged Property: (i) Prior Liens (but not extensions, amendments, supplements or replacements of Prior Liens unless consented to by the Mortgagee), ; (ii) the Lien and security interest created by this Mortgage, (iii) Contested Permitted Liens (so long as no Event of Default shall have occurred and be continuing), (iv) Liens other than those described in clauses (a), (b), (c), (dj), (e), (g), (h), (1l) and (mp) of the definition of Permitted Liens); (iii) the Liens created pursuant to the Collateral Documents (as defined in the Second Priority Indenture) and (viv) Leases to the extent permitted pursuant to the provisions of Article V hereof (the Liens described in clauses (i) through (viv) of this sentence, collectively, "Permitted Collateral Mortgaged Property Liens"). (b) The Mortgagor shall not sell, convey or otherwise dispose of any part of the Mortgaged Property except as permitted in the Second Priority Indenture.

Appears in 1 contract

Samples: Indenture (Trump Indiana Inc)

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Limitation on Liens; Transfer Restrictions. Except as permitted by the Credit Agreement, the (a) The Mortgagor may not, without the prior written consent of the Mortgagee, further mortgage, encumber, hypothecate, sell, convey encumber or assign hypothecate all or any part of the Mortgaged Property or suffer or allow any of the foregoing to occur by operation of law or otherwise; provided, however, that so long as no Event of Default shall have occurred and be continuing, the Mortgagor shall have the right to suffer to exist the following Liens in respect of the Mortgaged Property: (i) Prior Liens (but not extensions, amendments, supplements or replacements of Prior Liens unless consented to by the Mortgagee), ; (ii) the Lien and security interest created by this Mortgage, (iii) Contested Permitted Liens (so long as no Event of Default shall have occurred and be continuing), (iv) Liens other than those described in clauses (a), (b), (c), (dj), (e), (g), (h), (1l) and (mp) of the definition of Permitted Liens); (iii) the Liens created pursuant to the Collateral Documents (as defined in the First Priority Indenture) and (viv) Leases to the extent permitted pursuant to the provisions of Article V hereof (the Liens described in clauses (i) through (viv) of this sentence, collectively, "Permitted Collateral Mortgaged Property Liens"). (b) The Mortgagor shall not sell, convey or otherwise dispose of any part of the Mortgaged Property except as permitted in the First Priority Indenture.

Appears in 1 contract

Samples: Indenture (Trump Indiana Inc)

Limitation on Liens; Transfer Restrictions. Except as permitted by the Credit Agreement, the (a) The Mortgagor may not, without the prior written consent of the Mortgagee, further mortgage, encumber, hypothecate, sell, convey encumber or assign hypothecate all or any part of the Mortgaged Property or suffer or allow any of the foregoing to occur by operation of law or otherwise; provided, however, that so long as no Event of Default shall have occurred and be continuing, the Mortgagor shall have the right to suffer to exist the following Liens in respect of the Mortgaged Property: (i) Prior Liens (but not extensions, amendments, supplements or replacements of Prior Liens unless consented to by the Mortgagee), ; (ii) the Lien and security interest created by this Mortgage, (iii) Contested Permitted Liens (so long as no Event of Default shall have occurred and be continuing), (iv) Liens other than those described in clauses (a), (b), (c), (dj), (el), (g), (h), (1n) and (mp) of the definition of Permitted Liens); (iii) the Liens created pursuant to the Collateral Documents and (viv) Leases to the extent permitted pursuant to the provisions of Article V hereof (the Liens described in clauses (i) through (viv) of this sentence, collectively, "Permitted Collateral Mortgaged Property Liens"). (b) The Mortgagor shall not sell, convey or otherwise dispose of any part of the Mortgaged Property except as permitted in the Second Priority Indenture.

Appears in 1 contract

Samples: Second Fee and Leasehold Mortgage, Assignment of Leases and Rents, Security Agreement and Fixture Filing (Trump Indiana Inc)

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