Common use of No Security Interest Clause in Contracts

No Security Interest. The Borrower agrees not to create, incur, assume or suffer to exist (or to allow or permit the Borrower Parent to create, incur, assume or suffer to exist) any Lessor Lien on the Aircraft or any of the other Collateral (other than the Lessor Liens constituted by the Security Documents and the Basic Agreements or as otherwise consented to in writing by the Agent), and shall promptly take any and all necessary action, at its own expense, to remove and release any such Lessor Lien and shall promptly reimburse and indemnify the Collateral, and each other party to any of the Basic Agreements, for any loss incurred as a result of any such Lessor Lien.