Common use of Loan Security Clause in Contracts

Loan Security. The advances shall be extended on an unsecured basis; however, the Borrower shall not, without the prior written consent of the Bank, permit or suffer to exist any lien, charge, encumbrance, or security interest in or upon the Borrower's business assets, with the exception of floor plan lines of credit occurring in the normal course of business, in as much as they do not adversely impact the financial covenants detailed in this agreement

Loan Security. The advances shall be extended on an unsecured basis; however, however the Borrower shall not, without the prior written consent of the Bank, permit or suffer to exist any lien, charge, encumbrance, or security interest in or upon the Borrower's business assets, assets with the exception of floor plan lines of credit occurring in the normal course of business, in as much as they do not adversely impact the financial covenants detailed in this agreement.

Loan Security. The advances shall be extended on an unsecured basis; however, the Borrower shall not, without the prior written consent of the Bank, permit or suffer to exist any lien, charge, encumbrance, or security interest in or upon the Borrower's business assets, with the exception of floor plan lines of credit occurring in the normal course of business, in as much as they do not adversely impact the financial covenants detailed in this agreement.

Loan Security. The advances shall be extended on an unsecured basis; however, however the Borrower shall not, without the prior written consent of the Bank, permit or suffer to exist any lien, charge, encumbrance, or security interest in or upon the Borrower's business assets, assets with the exception of floor plan lines of credit occurring in the normal course of business, in as much as they do not adversely impact the financial covenants detailed in this agreement

Loan Security. The advances shall be extended on an unsecured basis; howeverhow- ever, the Borrower shall not, without the prior written consent of the Bank, permit or suffer to exist any lien, charge, encumbrance, or security interest in or upon the Borrower's business assets, with the exception of floor plan lines of credit occurring in the normal course of business, in as much as they do not adversely impact the financial covenants detailed in this agreement.