No Secured Indebtedness. For a period ending on the 18-month anniversary of the Initial Closing Date, the Company shall not, without the prior written consent of the Purchasers holding a majority of the outstanding shares of Series B Preferred Stock issued pursuant to this Agreement, assume or issue secured Indebtedness, except (i) secured Indebtedness to refinance outstanding secured Indebtedness on terms, taken in the aggregate, that are no less favorable to the Company than the outstanding Indebtedness being refinanced, or (ii) any purchase equipment financing or capital leasing arrangement in the ordinary course of the Company’s business; provided, however, that nothing in this Section 4.17 shall prohibit the Company, or a newly-formed subsidiary of the Company formed for such purpose, from acquiring an entity or business that has secured Indebtedness so long as the Company does not assume or guarantee any such secured Indebtedness.
No Secured Indebtedness. After giving effect to the release of the Collateral contemplated by Section 4 hereof and the payment in full of all Indebtedness under the Existing Credit Agreement (as defined below) on or prior to the First Amendment Effective Date, there are no Liens securing all or any portion of any Indebtedness of the Company or any of its Subsidiaries, other than Permitted Liens (as defined in the Note Purchase Agreement).
