Common use of MORTGAGES, SECURITY INTERESTS, AND LIENS Clause in Contracts

MORTGAGES, SECURITY INTERESTS, AND LIENS. Borrower shall not, directly or indirectly, create, incur, assume, or permit to exist any Lien with respect to any property or assets of Borrower, whether now owned or hereafter acquired other than: (a) Liens for taxes, assessments, or governmental charges or levies the payment of which is not at the time required by Section 5.5 hereof; (b) Liens imposed by law, such as Liens of landlords, carriers, warehousemen, mechanics, and materialmen arising in the ordinary course of business for sums not yet due or being contested by appropriate proceedings promptly initiated and diligently conducted, provided other appropriate provision, if any, as shall be required by GAAP shall have been made therefor; (c) Liens incurred or deposits made in the ordinary course of business in connection with workers' compensation, unemployment insurance, and other types of social security, or to secure the performance of tenders, statutory obligations, and surety and appeal bonds, or to secure the performance and return of money bonds and other similar obligations, excluding obligations for the payment of borrowed money; (d) Any judgment Lien, provided that the judgment it secures shall, within thirty (30) days after the entry thereof, have been discharged or execution therefor stayed pending appeal, or shall have been discharged within thirty (30) days after the expiration of any such stay; (e) Liens that secure the repayment of Indebtedness of Borrower to the Lender or any Lender Affiliate; or (f) Liens evidenced by or permitted under the terms of Security Instruments only, and any other Permitted Encumbrances.

MORTGAGES, SECURITY INTERESTS, AND LIENS. Borrower shall not, directly or indirectly, create, incur, assume, or permit to exist any Lien with respect to any property or assets of Borrower, whether now owned or hereafter acquired other than: (a) Liens for taxes, assessments, or governmental charges or levies the payment of which is not at the time required by Section 5.5 hereof; (b) Liens imposed by law, such as Liens of landlords, carriers, warehousemen, mechanics, and materialmen arising in the ordinary course of business for sums not yet due or being contested by appropriate proceedings promptly initiated and diligently conducted, provided other appropriate provision, if any, as shall be required by GAAP shall have been made therefor; (c) Liens incurred or deposits made in the ordinary course of business in connection with workers' ’ compensation, unemployment insurance, and other types of social security, or to secure the performance of tenders, statutory obligations, and surety and appeal bonds, or to secure the performance and return of money bonds and other similar obligations, excluding obligations for the payment of borrowed money; (d) Any judgment Lien, provided that the judgment it secures shall, within thirty (30) days after the entry thereof, have been discharged or execution therefor stayed pending appeal, or shall have been discharged within thirty (30) days after the expiration of any such stay; (e) Liens that secure the repayment of Indebtedness of Borrower to the Lender or any Lender Affiliate; or; (f) Liens evidenced by or permitted under the terms of Security Instruments only, and any other Permitted Encumbrances; or (g) Liens securing purchase money debt that does not extend to any other property and is given at the time of acquisition of such property.

MORTGAGES, SECURITY INTERESTS, AND LIENS. Borrower shall not, directly or indirectly, create, incur, assume, or permit to exist any Lien with respect to any property or non-real estate assets of BorrowerBorrower or any Subsidiary, whether now owned or hereafter acquired other than: (a) Liens for taxes, assessments, or governmental charges or levies the payment of which is not at the time required by Section 5.5 hereof; (b) Liens imposed by law, such as Liens of landlords, carriers, warehousemen, mechanics, and materialmen arising in the ordinary course of business for sums not yet due or being contested by appropriate proceedings promptly initiated and diligently conducted, provided other appropriate provision, if any, as shall be required by GAAP shall have been made therefor; (c) Liens incurred or deposits made in the ordinary course of business in connection with workers' compensation, unemployment insurance, and other types of social security, or to secure the performance of tenders, statutory obligations, and surety and appeal bonds, or to secure the performance and return of money bonds and other similar obligations, excluding obligations for the payment of borrowed money; (d) Any judgment Lien, provided that the judgment it secures shall, within thirty (30) days after the entry thereof, have been discharged or execution therefor stayed pending appeal, or shall have been discharged within thirty (30) days after the expiration of any such stay; (e) Liens that secure the repayment of Indebtedness of Borrower to the Lender or any Lender Affiliate; or (f) Liens evidenced by or permitted under the terms of Security Instruments only, and any other Permitted Encumbrances.

MORTGAGES, SECURITY INTERESTS, AND LIENS. Borrower shall will not, directly or indirectly, create, incur, assume, or permit to exist any Lien with respect to any property or assets of Borrower, whether now owned or hereafter acquired other than: (a) Liens for taxes, assessments, or governmental charges or levies the payment of which is not at the time required by Section 5.5 hereof;, (b) Liens imposed by law, such as Liens of landlords, carriers, warehousemen, mechanics, and materialmen arising in the ordinary course of business for sums not yet due or being contested by appropriate proceedings promptly initiated and diligently conducted, provided other appropriate provision, if any, as shall be required by GAAP shall have been made therefor; (c) Liens incurred or deposits made in the ordinary course of business in connection with workers' ’ compensation, unemployment insurance, and other types of social security, or to secure the performance of tenders, statutory obligations, and surety and appeal bonds, or to secure the performance and return of money bonds and other similar obligations, excluding obligations for the payment of borrowed money; (d) Any judgment Lien, provided that the judgment it secures shall, within thirty (30) days after the entry thereof, have been discharged or execution therefor stayed pending appeal, or shall have been discharged within thirty (30) days after the expiration of any such stay; (e) Liens that secure the Indebtedness of Borrower for the purchase price of any real or personal property and that only encumber the property purchased, provided the aggregate amount of all such Liens shall not exceed One Hundred Thousand Dollars ($100,000.00); (f) Liens that secure the repayment of Indebtedness of Borrower to the Lender Bank or any Lender AffiliateAffiliate Lender; or (fg) Liens evidenced by or permitted under the terms of the Security Instruments Agreement only, and any other Permitted Encumbrances, including the liens set forth on Schedule 6.2(g).

MORTGAGES, SECURITY INTERESTS, AND LIENS. Borrower shall not, directly or indirectly, create, incur, assume, or permit to exist any Lien with respect to any property or assets of Borrower, whether now owned or hereafter acquired other than: (a) Liens for taxes, assessments, or governmental charges or levies the payment of which is not at the time required by Section 5.5 hereof; (b) Liens imposed by law, such as Liens of landlords, carriers, warehousemen, mechanics, and materialmen arising in the ordinary course of business for sums not yet due or being contested by appropriate proceedings promptly initiated and diligently conducted, provided other appropriate provision, if any, as shall be required by GAAP shall have been made therefor; (c) Liens incurred or deposits made in the ordinary course of business in connection with workers' compensation, unemployment insurance, and other types of social security, or to secure the performance of tenders, statutory obligations, and surety and appeal bonds, or to secure the performance and return of money bonds and other similar obligations, excluding obligations for the payment of borrowed money; (d) Any judgment Lien, provided that the judgment it secures shall, within thirty (30) days after the entry thereof, have been discharged or execution therefor stayed pending appeal, or shall have been discharged within thirty (30) days after the expiration of any such stay; (e) Liens that secure the Indebtedness of Borrower for the purchase price or improvement of any real or personal property and that only encumber the property purchased or improved, provided such Indebtedness is permitted under Section 5.16 hereof; (f) Liens that secure the repayment of Indebtedness of Borrower to the Lender or any Lender Affiliate; or (fg) Liens set forth in Schedule 5.15, or evidenced by or permitted under the terms of Security Instruments only, and any other Permitted Encumbrances.

MORTGAGES, SECURITY INTERESTS, AND LIENS. Borrower shall not, directly or indirectly, create, incur, assume, or permit to exist any Lien with respect to any property or assets of Borrower, whether now owned or hereafter acquired other than: (a) Liens for taxes, assessments, or governmental charges or levies the payment of which is not at the time required by Section 5.5 hereof; (b) Liens imposed by law, such as Liens of landlords, carriers, warehousemen, mechanics, and materialmen arising in the ordinary course of business for sums not yet due or being contested by appropriate proceedings promptly initiated and diligently conducted, provided other appropriate provision, if any, as shall be required by GAAP shall have been made therefortherefore; (c) Liens incurred or deposits made in the ordinary course of business in connection with workers' compensation, unemployment insurance, and other types of social security, or to secure the performance of tenders, statutory obligations, and surety and appeal bonds, or to secure the performance and return of money bonds and other similar obligations, excluding obligations for the payment of borrowed money; (d) Any judgment Lien, provided that the judgment it secures shall, within thirty (30) days after the entry thereof, have been discharged or execution therefor stayed pending appeal, or shall have been discharged within thirty (30) days after the expiration of any such stay; (e) Liens that secure the repayment of Indebtedness of Borrower to the Lender or any Lender Affiliate; or (f) Liens evidenced by or permitted under the terms of Security Instruments only, and any other Permitted Encumbrances.