No Senior Pari Passu Indebtedness. Borrower shall not, without Lxxxxx’s consent, incur any indebtedness which is senior to or in pari passu to that of Lender nor directly or indirectly hypothecate, pledge or encumber the cash flow, assets or reserves of Borrower in or to any other credit facility, loan or arrangement which is senior to or in pari passu to this Credit Facility while any part of the principal advanced by Lender under the Note is outstanding and/or unpaid.
Appears in 2 contracts
Samples: Loan Agreement (Superior Drilling Products, Inc.), Fourth Amended and Restated Loan Agreement (Superior Drilling Products, Inc.)
No Senior Pari Passu Indebtedness. Borrower shall not, without LxxxxxLender’s consent, incur any indebtedness which is senior to or in pari passu to that of Lender nor directly or indirectly hypothecate, pledge or encumber the Leases, cash flow, assets or reserves of Borrower in or to any other credit facility, loan or arrangement which is senior to or in pari passu to this Credit Facility while any part of the principal advanced by Lender under the Note is outstanding and/or unpaid.
Appears in 2 contracts
Samples: Loan Agreement (Superior Drilling Products, Inc.), Second Amended and Restated Loan Agreement (Superior Drilling Products, Inc.)
