Limitation on Property. Borrower will not (i) grant, create, enter into, incur permit or suffer to exist, upon or with regard to any of its respective Property now owned or hereafter acquired, (A) any Lien, except for Permitted Liens, or (B) any Negative Pledge, except for the benefit of the Agent, the Issuing Bank and Banks, or (ii) enter into any sale-and-lease-back transaction. Anything in the foregoing or elsewhere in the Loan Documents to the contrary notwithstanding, it is understood that no Liens, other than Permitted Liens, or Negative Pledges, except for the benefit of the Banks, are permitted on or with respect to any of the Property of Borrower.
Limitation on Property. Borrower will not (I) grant, create, enter into, incur, permit or suffer to exist, upon or with regard to any of its respective Property now owned or hereafter acquired, (A) any Lien, except for Permitted Liens, or (B) any Negative Pledge, except for the benefit of the Agent, the Issuing Bank and Banks, or the purchasers of the promissory notes issued by Borrower pursuant to the Note Offering, or (ii) enter into any sale-and-lease back transaction. Anything in the foregoing or elsewhere in the Loan Documents to the contrary notwithstanding, it is understood that no Liens, other than Permitted Liens, or Negative Pledges, except for the benefit of the Banks or the purchasers of the promissory notes issued by Borrower pursuant to the Note Offering, are permitted on or with respect to any of the Property of Borrower. 107 3. In order to induce the Agent and the Banks to enter into this Amendment, Borrower hereby represents and warrants to the Agent and the Banks that, as of the date of this Amendment, (a) the representations and warranties set forth in the Credit Agreement and each other Loan Document are true and correct as if made on and as of the date hereof (other than those representations and warranties expressly limited by their terms to a specific date), (b) no Default or Event of Default has occurred and is continuing, and (c) no event has occurred since the date of the most recent financial statement delivered pursuant to Section 5.1 of the Credit Agreement that has caused a Material Adverse Effect.
Limitation on Property. Neither any Borrower nor Parent Company will, and Parent Company will not permit any Company to, (i) grant, create, enter into, incur, permit or suffer to exist, upon or with regard to any of its respective Property now owned or hereafter acquired, (A) any Lien, except for Permitted Liens; or (B) any Negative Pledge, except for the benefit of the Agent and Banks; (ii) enter into any sale-and-lease-back transaction other than sale and-lease-back transactions involving inventory manufactured by any Company, provided that the aggregate book value of all such inventory shall not exceed the sum of $1,500,000; (iii) establish a deposit account in the United States unless such account is with Agent or unless Agent has been provided with an account control agreement executed by the bank with which the deposit account is maintained reasonably satisfactory to Agent. Anything in the foregoing or elsewhere in the Loan Documents to the contrary notwithstanding, it is understood that no Liens, other than Permitted Liens, or Negative Pledges, except for the benefit of the Banks, are permitted on or with respect to any of the Property of Borrower.
Limitation on Property. Investor hereby acknowledges that Developer owns other properties, some of which are adjacent to certain parcels of the Land ("Developer's Other Land") and that Developer has no obligation to convey any portion of Developer's Other Land in connection with this transaction, or any of the rights which may be associated with Developer's Other Land, such as easements or residual interest in streets or roads. In the event there are any Service Contracts, Personal Property Leases, warranties or other items which are included in the definition of the Property but which also apply to Developer's Other Land and which Investor does not object to pursuant to Section 3.6, Developer shall amend such agreements to separate the Property from Developer's Other Land prior to Closing. In the event that there is any Personal Property which Developer utilizes at both the Property and Developer's Other Property, the parties shall make an appropriate allocation of such Personal Property such that the Company receives either Personal Property or other consideration equal to the value of the Personal Property utilized at the Property (e.g. if Developer uses two pieces of equipment, both of equal value and both equally between the Property and Developer's Other Property, Developer would transfer one piece to the Company at Closing and retain the other piece). The Property shall not include Tenant Leases, Service Contracts and Personal Property Leases that are terminated or expire prior to Closing.
Limitation on Property. Neither Borrower nor Parent Company will, and Parent Company will not permit any Company to, grant, create, enter into, incur, permit or
Limitation on Property. Borrower will not, and will not permit any of its Subsidiaries to, (i) grant, create, enter into, incur, permit or suffer to exist, upon or with regard to any of its respective Property now owned or hereafter acquired, (a) any Lien, except for Permitted Liens, or (b) any Negative Pledge, except for the benefit of the Agent, the Issuing Bank and Banks, or the purchasers of the promissory notes issued by Borrower pursuant to the Note Offering, or (ii) enter into any sale-and-lease-back transaction. Anything in the foregoing or elsewhere in the Loan 57 Documents to the contrary notwithstanding, it is understood that no Liens, other than Permitted Liens, or Negative Pledges, except for the benefit of the Banks or the purchasers of the promissory notes issued by Borrower pursuant to the Note Offering, are permitted on or with respect to any of the Property of Borrower or any of its Subsidiaries.
Limitation on Property. Neither any Borrower nor Parent Company will, and Parent Company will not permit any Company to, (i) grant, create, enter into, incur, permit or suffer to exist, upon or with regard to any of its respective Property now owned or hereafter acquired, (A) any Lien, except for Permitted Liens, or (B) any Negative Pledge, except for the benefit of the Agent and Banks, or (ii) enter into any sale-and-lease-back transaction other than sale and-lease-back transactions involving inventory manufactured by any Company, provided that the aggregate book value of all such inventory shall not exceed the sum of $1,500,000. Anything in the foregoing or elsewhere in the Loan Documents to the contrary notwithstanding, it is understood that no Liens, other than Permitted Liens, or Negative Pledges, except for the benefit of the Banks, are permitted on or with respect to any of the Property of Borrower.
