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, arise or attach any Lien in any present or future asset. Borrower shall not create or permit, directly or indirectly, any prohibition or restriction on the creation or existence of a Lien in favor of Lender upon the assets of Borrower nor create any contractual obligation which may O3721488.v4 restrict or inhibit Lender’s rights or abilities to sell or otherwise dispose of all or any part of any Collateral after the occurrence of an Event of Default.

Pledge or Encumbrance of Assets. Other than the Permitted Liens, Borrower shall not create, incur, assume or permit to exist, arise or attach any Lien lien in any present or future asset. Borrower shall not create or permit, directly or indirectly, any prohibition or restriction on the creation or existence of a Lien lien in favor of Lender upon the assets of Borrower Borrower, nor create any contractual obligation which may O3721488.v4 restrict or inhibit LenderLxxxxx’s rights or abilities to sell or otherwise dispose of all or any part of any Collateral collateral after the occurrence of an Event of Default.