Common use of Pledge or Encumbrance of Assets Clause in Contracts

Pledge or Encumbrance of Assets. Other than the Permitted Liens, Borrower shall not create, incur, assume or permit to exist any Lien, pledge, mortgage, security interest or encumbrance whatsoever on the Collateral, except for Liens in favor of Bank, and Liens imposed by law which secure amounts not at the time due and payable.

Pledge or Encumbrance of Assets. Other than the Permitted Liens, no Borrower shall not will create, incur, assume or permit to exist exist, arise or attach any Lien, pledge, mortgage, security interest Lien in any present or encumbrance whatsoever on the Collateral, except for Liens in favor of Bank, and Liens imposed by law which secure amounts not at the time due and payable.future

Pledge or Encumbrance of Assets. Other than the Permitted Liens, Borrower shall will not create, incur, assume or permit to exist any Lien, pledge, mortgage, security interest Lien in any present or encumbrance whatsoever on the Collateralfuture asset, except for Liens in favor of to the Bank, Liens existing on the date of this Agreement which have been disclosed to and approved by Bank and Liens imposed by law which secure amounts not at the time due and payable.