Mortgages and Pledges. Create, incur, assume, or suffer to exist any mortgage, pledge, lien, or other encumbrance of any kind upon, or any security interest in, any of its property or assets, whether now owned or hereafter acquired, except (i) liens for taxes not yet delinquent or being contested in good faith and by appropriate proceedings; (ii) liens in connection with workers' compensation, unemployment insurance, or other social security obligations; (iii) deposits or pledges to secure bids, tenders, contracts (other than contracts for the payment of money), leases, statutory obligations, surety or appeal bonds, and other obligations of like nature arising in the ordinary course of business; (iv) mechanic's, xxxxxxx'x, materialman's, landlord's, carrier's, or other like liens arising in the ordinary course of business with respect to obligations that are not due or that are being contested in good faith; (v) those mortgages, pledges, liens, and encumbrances reflected in the financial statements referred to in Section 5.07 above; (vi) mortgages, pledges, liens, and encumbrances in favor of Statesman; (vii) zoning restrictions, easements, licenses, restrictions on the use of real property or minor irregularities in the title thereto, which do not, in the opinion of the Cooperative, materially impair the use of such property in the operation of the business of the Cooperative or the value of such property for the purposes of such business; and (viii) any mortgage, encumbrance or other lien upon, or security interest in, any property hereafter acquired by the Cooperative created contemporaneously with such acquisition to secure or provide for the payment or financing of any part of the purchase price thereof, or the assumption of any mortgage, encumbrance or lien upon, or security interest in, any such property hereafter acquired existing at the time of such acquisition, or the acquisition of any such property subject to any mortgage, encumbrance or other lien or security interest without the assumption thereof, provided that each such mortgage, encumbrance, lien or security interest shall attach only to the property so acquired and fixed improvements thereon. Nothing contained in this Section 8.01 shall prohibit the Cooperative from entering into any lease required to be capitalized by generally accepted accounting principles in accordance with the Financial Accounting Standards Board Statement No. 13 (Accounting for Leases) in effect on the date of this Agreement, provided suc...
Mortgages and Pledges. Create, incur, assume or suffer to exist, or permit any of its Subsidiaries to create, incur, assume or suffer to exist, any Lien of any kind upon or in any of its property or assets, whether now owned or hereafter acquired, other than (i) Permitted Encumbrances and (ii) Liens granted in order to secure Indebtedness permitted under Section 7.02(a) or Section 7.02(b); provided, however, that the aggregate value of property subject to Liens granted pursuant to clause (ii) (exclusive of Liens to secure Indebtedness pursuant to Section 7.02(b)(i)) shall not exceed 30% of Total Consolidated Assets.
Mortgages and Pledges. Create, incur, assume, or suffer to exist any mortgage, pledge, lien, or other encumbrance of any kind upon, or any security interest in, any of its property or assets, whether now owned or hereafter acquired, except (i) liens for taxes not yet delinquent or being contested in good faith and by appropriate proceedings, (ii) liens in connection with worker’s compensation, unemployment insurance, or other social security obligations, (iii) workman’s, carrier’s, warehouseman’s or other like liens (excluding landlord’s liens) arising in the ordinary course of business with respect to obligations that are not due or that are being contested in good faith, (iv) mortgages, pledges, liens, encumbrances and security interests in favor of the Bank, (v) unfiled mechanic’s or materialman’s liens; provided that, if any mechanic’s or materialman’s lien is filed on any property or asset of the Company, the Company shall promptly bond off or otherwise effect the release of such lien, and (vi) purchase money security interests in capital assets of Company if each such purchase money security interest attaches to such capital asset concurrently with the acquisition thereof and if the indebtedness secured by such purchase money security interest does not exceed the lesser of the cost or fair market value as of the time of acquisition of the asset covered thereby to the Company, provided that no such purchase money security interest shall attach, extend to or cover any property or asset of the Company other than the related asset.
Mortgages and Pledges. Create, incur, assume or suffer to exist any Lien on any of its property or assets, whether now owned or hereafter acquired, except for Permitted Liens.
Mortgages and Pledges. Without the prior written consent of the Lender (which consent the Lender may grant or withhold in its sole discretion), create, incur, assume, or suffer to exist, any Lien of any kind upon any of their property or assets, whether now owned or hereafter acquired, except for Permitted Encumbrances.
Mortgages and Pledges. Create, incur, assume or suffer to exist (i) any Lien upon or in any of its property or assets, whether now owned or hereafter acquired except as specifically permitted under this Agreement, or (ii) an agreement with any Person (other than the Banks) which prohibits or restricts the granting of any such Lien of any kind in favor of the Banks, except:
Mortgages and Pledges. Create, incur, assume or suffer to exist any deed of trust, mortgage, pledge, Lien or other encumbrance of any kind upon, or any security interest in, any of its property or assets, including the Collateral, whether now owned or hereafter acquired, other than Permitted Liens.
Mortgages and Pledges. Create, incur, assume, or suffer to exist any mortgage, pledge, lien, or other encumbrance of any kind upon, or any security interest in, any of its property or assets, whether now owned or hereafter acquired, except (i) liens for taxes not yet delinquent or being contested in good faith and by appropriate proceedings, (ii) liens in connection with worker’s compensation, unemployment insurance, or other social security obligations, (iii) workman’s, carrier’s, or other like liens (excluding landlord’s liens) arising in the ordinary course of business with respect to obligations that are not due or that are being contested in good faith, (iv) mortgages, pledges, liens, encumbrances and security interests in favor of the Bank, and (v) mortgages, pledges, liens, encumbrances and security interests with respect to property or assets that do not constitute “Collateral” under the Security Agreement.
Mortgages and Pledges. Create, incur, assume or suffer to --------------------- exist any mortgage, pledge, lien or other encumbrance of any kind (including the charge upon property purchased under conditional sale or other title retention agreements) upon, or any security interest in, any of its property or assets, whether now owned or hereafter acquired, or permit any subsidiary so to do, except (i) liens for taxes not delinquent or being contested in good faith and by appropriate proceedings, (ii) deposits or pledges to secure obligations under workmen's compensation, social security or similar laws, or under unemployment insurance, (iii) deposits or pledges to secure bids, tenders, contracts (other than contracts for the payment of money), leases, statutory obligations, surety and appeal bonds and other obligations of like nature arising in the ordinary course of business, (iv) mechanic's, workmen's, materialmen's or other like liens arising in the ordinary course of business with respect to obligations which are not due or which are being contested in good faith, (v) existing liens as set forth on Schedule 9(b) hereto, and (vi) purchase money security interests on assets acquired in the ordinary course of business securing indebtedness otherwise permitted to be incurred hereunder, incurred in connection with the acquisition of such assets, which liens cover only the assets so acquired.
Mortgages and Pledges. The Borrower will not create, incur, assume or --------------------- suffer to exist, or permit any Restricted Subsidiary to create, incur, assume or suffer to exist, any Lien upon or in any of their respective properties or assets, whether now owned or hereafter acquired or enter into or suffer to exist any agreement or other instrument binding on the Borrower or any Restricted Subsidiary or affecting any of their respective properties which prohibits, requires the consent of any Person for or otherwise restricts the creation of any Lien in favor of the Lenders, except (i) Liens incurred in the ordinary course of business (other than Liens to secure indebtedness for Borrowed Money), (ii) Liens in respect of Capitalized Lease Obligations which are permitted to be incurred under Section 7.02(a)(i), (iii) Liens incurred in connection with a Permitted Acquisition (including Liens not created at the time of or in contemplation of the Permitted Acquisition) and (iv) Permitted Encumbrances.
