Common use of No Encumbrance of Assets Clause in Contracts

No Encumbrance of Assets. not allow any part of its undertaking, property, assets or rights, whether present or future, to be mortgaged, charged, pledged, used as a lien or otherwise encumbered without the prior written consent of the Bank; and

Appears in 4 contracts

Samples: Loan Agreement (Top Ships Inc.), Loan Agreement (NewLead Holdings Ltd.), Loan Agreement (FreeSeas Inc.)

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No Encumbrance of Assets. not allow any part of its undertaking, property, assets or rights, whether present or future, to be mortgaged, charged, pledged, used as a lien or otherwise encumbered without the prior written consent of the BankLender; and

Appears in 2 contracts

Samples: Loan Agreement (Seanergy Maritime Holdings Corp.), Loan Agreement (Seanergy Maritime Holdings Corp.)

No Encumbrance of Assets. not allow any part of its undertaking, property, assets or rights, whether present or future, to be mortgaged, charged, pledged, used as a lien or otherwise encumbered (other than Permitted Encumbrances) without the prior written consent of the Bank; and

Appears in 2 contracts

Samples: Loan Agreement (NewLead Holdings Ltd.), Loan Agreement (NewLead Holdings Ltd.)

No Encumbrance of Assets. not allow any part of its undertaking, property, assets or rights, whether present or future, to be mortgaged, charged, pledged, used as a lien or otherwise encumbered without the prior written consent of the Bank; and;

Appears in 1 contract

Samples: Loan Agreement (Costamare Inc.)

No Encumbrance of Assets. not allow any part of its undertaking, property, assets or rights, whether present or future, to be mortgaged, charged, pledged, used as a lien or otherwise encumbered without the prior written consent of the Bank; and, such consent not to be unreasonably withheld;

Appears in 1 contract

Samples: Loan Agreement (StealthGas Inc.)

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No Encumbrance of Assets. not allow any part of its undertaking, property, assets or rights, whether present or future, to be mortgaged, charged, pledged, used as a lien or otherwise encumbered without the prior written consent of the Bank; and, such consent not to be unreasonably withheld.

Appears in 1 contract

Samples: Loan Agreement (StealthGas Inc.)

No Encumbrance of Assets. ensure that the Owner shall not allow any part of its undertaking, property, assets or rights, whether present or future, to be mortgaged, charged, pledged, used as a lien or otherwise encumbered without the prior written consent of the Bank; and

Appears in 1 contract

Samples: Credit Agreement (Paragon Shipping Inc.)

No Encumbrance of Assets. not allow any part of its undertaking, property, assets or rights, whether present or future, to be mortgaged, charged, pledged, used as a lien or otherwise encumbered without the prior written consent of the BankBank (including, but not limited to, the Borrowers’ rights against the Bank under the Master Agreement or all or any part of the Borrowers’ interest in any amount payable to the Borrowers by the Bank under the Master Agreement); and

Appears in 1 contract

Samples: Loan Agreement (Poseidon Containers Holdings Corp.)

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