PROHIBITION ON SUBORDINATE FINANCING. Borrower shall not incur or permit the incurring of (i) any financing in addition to the Loan that is secured by a lien, security interest or other encumbrance of any part of the Property or (ii) any pledge or encumbrance of any beneficial interest in Borrower.
Appears in 10 contracts
Samples: Mortgage, Security Agreement and Fixture Filing (Florida East Coast Industries Inc), Defined Terms (Florida East Coast Industries Inc), Defined Terms (Florida East Coast Industries Inc)
PROHIBITION ON SUBORDINATE FINANCING. Borrower Mortgagor shall not incur or permit the incurring of (i) any financing in addition to the Loan that is secured by a lien, security interest or other encumbrance of any part of the Mortgaged Property or (ii) any pledge or encumbrance of any a partnership, member or shareholder or beneficial interest in BorrowerMortgagor (collectively, “Subordinate Financing”).
Appears in 2 contracts
Samples: Credit Agreement (St Joe Co), Credit Agreement (St Joe Co)
PROHIBITION ON SUBORDINATE FINANCING. Except as and to the extent expressly permitted in Section 10.4 (c) or 10.6, Borrower shall not incur or permit the incurring of (i) any financing in addition to the Loan that is secured by a lien, security interest or other encumbrance of any part of the Property or (ii) any pledge or encumbrance of any a partnership, member or shareholder or beneficial interest in Borrower.
Appears in 1 contract
Samples: Strategic Hotels & Resorts, Inc
PROHIBITION ON SUBORDINATE FINANCING. Borrower shall not incur or permit the incurring of (i) any financing in addition to the Loan that is secured by a lien, security interest or other encumbrance of any part of the Property or (ii) any pledge or encumbrance of any a partnership (other than a limited partnership interest), member or shareholder or beneficial interest in Borrower.
Appears in 1 contract
PROHIBITION ON SUBORDINATE FINANCING. (a) Except as specifically set forth in Section 10.02(b) below, Borrower shall not incur or permit the incurring of (i) any financing in addition to the Loan that is secured by a lien, security interest or other encumbrance of any part of the Property or (ii) any pledge or encumbrance of any a partnership, member or shareholder or beneficial interest in Borrower.
Appears in 1 contract
Samples: Mortgage, Security Agreement and Fixture Filing (Wells Real Estate Investment Trust Inc)
PROHIBITION ON SUBORDINATE FINANCING. Except as and to the extent expressly permitted in Section 10.4 or Section 10.6, Borrower shall not incur or permit the incurring of (i) any financing in addition to the Loan and the Borrower Guaranty that is secured by a lien, security interest or other encumbrance of any part of the Property or (ii) any pledge or encumbrance of any a partnership, member or shareholder or beneficial interest in Borrower.
Appears in 1 contract
Samples: Mortgage, Security Agreement and Fixture Filing (Strategic Hotels & Resorts, Inc)
