Common use of Ownership of Property, Indebtedness Clause in Contracts

Ownership of Property, Indebtedness. The Borrower shall not own, lease, manage or otherwise operate any properties or assets other than in connection with the activities described in Section 5.1, or incur, create, assume or suffer to exist any Indebtedness or other consensual liabilities or financial obligations other than as may be incurred, created or assumed or as may exist in connection with the activities described in Section 5.1 (including the Loans and other obligations incurred by the Borrower hereunder).

Appears in 4 contracts

Samples: Credit Agreement (Safeskin Corp), Credit Agreement (Kindercare Learning Centers Inc /De), Credit Agreement (Quality Food Centers Inc)

AutoNDA by SimpleDocs

Ownership of Property, Indebtedness. The Borrower shall not own, ----------------------------------- lease, manage or otherwise operate any properties or assets other than in connection with the activities described in Section 5.1, or incur, create, assume or suffer to exist any Indebtedness indebtedness or other consensual liabilities or financial obligations other than as may be incurred, created or assumed or as may exist in connection with the activities described in Section 5.1 (including the Loans and other obligations incurred by the Borrower hereunder).

Appears in 1 contract

Samples: Credit Agreement (Sailors Inc)

AutoNDA by SimpleDocs
Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!