Common use of Limiting Agreements Clause in Contracts

Limiting Agreements. (a) Neither Borrower, any Guarantor nor any of their respective Subsidiaries shall enter into, any agreement, instrument or transaction which has or may have the effect of prohibiting or limiting Borrower's or any Guarantor's ability to pledge to Agent Real Estate which is owned by the Borrower or such Guarantor which is free and clear of all Liens other than the Liens permitted in Section 8.2(i), (iii) and (v) or any other assets of the Borrower or such Guarantor as security for the Loans. Borrower shall take, and shall cause the Guarantors and their respective Subsidiaries to take, such actions as are necessary to preserve the right and ability of Borrower and the Guarantors to pledge those Real Estate and other assets as security for the Loans without any such pledge after the date hereof causing or permitting the acceleration (after the giving of notice or the passage of time, or otherwise) of any other Indebtedness of Borrower, the Guarantors or any of their respective Subsidiaries.

Appears in 2 contracts

Samples: Revolving Credit Agreement (Walden Residential Properties Inc), Revolving Credit Agreement (Walden Residential Properties Inc)

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Limiting Agreements. (a) Neither Borrower, any the Guarantor nor any of their respective Subsidiaries shall enter into, any agreement, instrument or transaction which has or may have the effect of prohibiting or limiting Borrower's, the Guarantor's or any Guarantor's of their respective Subsidiaries' ability to pledge to Agent Real Estate any assets which is are owned by the Borrower Borrower, the Guarantor or any such Guarantor Subsidiary and which is free and clear of all Liens other than the Liens are not otherwise subject to liens permitted in Section 8.2(iby ss.8.2(vi), (iiivii) and (vviii) or any other assets of the Borrower or such Guarantor as security for the Loans. Borrower shall take, and shall cause the Guarantors Guarantor and their respective Subsidiaries to take, such actions as are necessary to preserve the right and ability of Borrower Borrower, the Guarantor and the Guarantors their respective Subsidiaries to pledge those Real Estate and other such assets as security for the Loans without any such pledge after the date hereof causing or permitting the acceleration (after the giving of notice or the passage of time, or otherwise) of any other Indebtedness of Borrower, the Guarantors Guarantor or any of their respective Subsidiaries.

Appears in 1 contract

Samples: Term Loan Agreement (Ramco Gershenson Properties Trust)

Limiting Agreements. (a) Neither BorrowerNone of the Borrowers, any Guarantor nor or any of their respective the Controlled Subsidiaries of either Borrower shall enter into, any agreement, instrument or transaction which has or may have the effect of prohibiting or limiting any Borrower's or any Guarantor's ability to pledge to Agent Real Estate any assets comprised within the Borrowing Base Assets which is are owned by the such Borrower or such Guarantor and which is free and clear of all Liens other than the are not otherwise subject to Liens permitted in by Section 8.2(i), (iii) and (v) or any other assets of the Borrower or such Guarantor as security for the Loans. Borrower Borrowers shall take, and shall cause the Guarantors and their respective Subsidiaries to take, such actions as are necessary to preserve the right and ability of Borrower Borrowers and the Guarantors to pledge those Real Estate and other such assets as security for the Loans without any such pledge after the date hereof causing or permitting the acceleration (after the giving of notice or the passage of time, or otherwise) of any other Indebtedness of BorrowerBorrowers, the Guarantors or any of their respective Subsidiariesthe Controlled Subsidiaries of either Borrower.

Appears in 1 contract

Samples: Master Credit Agreement (Wellsford Real Properties Inc)

Limiting Agreements. (a) Neither Borrower, any the Guarantor nor any of their respective Subsidiaries shall enter into, any agreement, instrument or transaction which has or may have the effect of prohibiting or limiting Borrower's, the Guarantor's or any Guarantor's of their respective Subsidiaries' ability to pledge to Agent Real Estate any assets which is are owned by the Borrower Borrower, the Guarantor or any such Guarantor Subsidiary and which is free and clear of all Liens other than the Liens are not otherwise subject to liens permitted in by Section 8.2(i8.2(vi), (iiivii) and (vviii) or any other assets of the Borrower or such Guarantor as security for the Loans. Borrower shall take, and shall cause the Guarantors Guarantor and their respective Subsidiaries to take, such actions as are necessary to preserve the right and ability of Borrower Borrower, the Guarantor and the Guarantors their respective Subsidiaries to pledge those Real Estate and other such assets as security for the Loans without any such pledge after the date hereof causing or permitting the acceleration (after the giving of notice or the passage of time, or otherwise) of any other Indebtedness of Borrower, the Guarantors Guarantor or any of their respective Subsidiaries.

Appears in 1 contract

Samples: Term Loan Agreement (Ramco Gershenson Properties Trust)

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Limiting Agreements. (a) Neither Borrower, any the Guarantor nor any of their respective Subsidiaries shall enter into, any agreement, instrument or transaction which has or may have the effect of prohibiting or limiting Borrower's, the Guarantor's or any Guarantor's of their respective Subsidiaries' ability to pledge to Agent Real Estate any assets which is are owned by the Borrower Borrower, the Guarantor or any such Guarantor Subsidiary and which is free and clear of all Liens other than are not otherwise now or in the Liens future subject to liens permitted in by Section 8.2(i8.2(vi), (iiivii) and (vviii) or any other assets of the Borrower or such Guarantor as security for the Loans. Borrower shall take, and shall cause the Guarantors Guarantor and their respective Subsidiaries to take, such actions as are necessary to preserve the right and ability of Borrower Borrower, the Guarantor and the Guarantors their respective Subsidiaries to pledge those Real Estate and other such assets as security for the Loans without any such pledge after the date hereof causing or permitting the acceleration (after the giving of notice or the passage of time, or otherwise) of any other Indebtedness of Borrower, the Guarantors Guarantor or any of their respective Subsidiaries.

Appears in 1 contract

Samples: Revolving Loan Agreement (Ramco Gershenson Properties Trust)

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