Restriction on Encumbrances. Without the prior written consent of UM, the Licensee shall not encumber any of its rights under this Agreement in any fashion, including but not limited to, the granting of a security interest in this Agreement or any of the Licensed Products.
Restriction on Encumbrances. Each Shareholder agrees not to pledge or hypothecate any shares owned by him, except as collateral to a note (i) in favor of the Company or (ii) in favor of a lending institution, if the proceeds of such loan are used in their entirety to purchase additional shares of common stock of the Company, providing that the borrowing Shareholder delivers to the Company a written undertaking of the lender, in form acceptable to the Company, that such lender will only dispose of said shares in accordance with the provisions of this Agreement.
Restriction on Encumbrances. The Mortgagor shall not allow --------------------------- any Encumbrances on the Property except the Permitted Encumbrances. The Mortgagor shall give the Mortgagee prompt notice of any default in or under any Permitted Encumbrances and any notice of foreclosure or threat of foreclosure. The Mortgagor shall comply with its obliga- tions under all Permitted Encumbrances. The Mortgagee may at its election, satisfy any Encumbrance (other than a Permitted Encumbrance not then in default), and the Mortgagor shall, on demand, reimburse the Mortgagee for any sums advanced for such satisfaction together with interest at the Default Interest Rate stated in the Note accruing from the date of satisfaction, which sums shall be secured hereby.
Restriction on Encumbrances. The Grantor shall not allow any --------------------------- Encumbrances on the Collateral except the Permitted Encumbrances. The Grantor shall give the Mortgagee prompt notice of any default in or under any Permitted Encumbrances and any notice of foreclosure or threat of foreclosure. The Grantor shall comply with its obligations under all Permitted Encumbrances. The Mortgagee may, at its election, satisfy any Encumbrance (other than a Permitted Encumbrance not then in default), and the Grantor shall, on demand, reimburse the Mortgagee for any sums advanced for such satisfaction together with interest charged at the Overdue Rate accruing from the date of satisfaction, which sums shall be secured hereby.
Restriction on Encumbrances. It shall be a Default if Grantor shall allow any Encumbrances, including secondary and supplemental financing liens, on the Trust Property except the Permitted Encumbrances. The Grantor shall give the Beneficiary prompt notice of any defaults in or under any Permitted Encumbrances and any notice of foreclosure or threat of foreclosure. The Grantor shall comply with its obligations under all Permitted Encumbrances. The Beneficiary may, at its election, satisfy any Encumbrance (other than an Permitted Encumbrance not then in default), and the Grantor shall, on demand, reimburse the Beneficiary for any sums advanced for such satisfaction accruing from the date of satisfaction, which sums shall be secured hereby.
Restriction on Encumbrances. Without the prior written consent of the Licensee and UFS, the Sublicensee shall not encumber any of its rights under this Agreement in any fashion, including but not limited to, the granting of a security interest in this Agreement or any of the Licensed Products.
Restriction on Encumbrances. Pledgor will not create, incur, or permit to be placed, imposed, or continued upon the Collateral any security interest, encumbrance, or other Lien of any type or nature whatsoever, other than security interests in favor of Lender.
Restriction on Encumbrances. The Voting Trustee shall not sell, pledge, hypothecate, mortgage or place any security interest upon, exchange or dispose of all or any part of the Trust Shares.
Restriction on Encumbrances. The Grantor shall not allow any Encumbrances on the Trust Property except the Permitted Encumbrances. The Grantor shall give the Beneficiary prompt notice of any defaults in or under any Permitted Encumbrances and any notice of foreclosure or threat of foreclosure. The Grantor shall comply with its obligations under all Permitted Encumbrances. The Beneficiary may, at its election, satisfy any Encumbrance (other than a Permitted Encumbrance not then in default), and the Grantor shall, on demand, reimburse the Beneficiary for any sums advanced for such satisfaction together with interest at the Note Rate accruing from the date of satisfaction, which sums shall be secured hereby.
Restriction on Encumbrances. It is understood that the Town will provide Owner with additional funding totaling up to $340,635 pursuant to two separate Promissory Notes and Deeds of Trust, comprised of a First Deed of Trust in the amount of $169,415 and a Second Deed of Trust in the amount not to exceed $171,220 (collectively, the Deeds of Trust). In order to protect the Town's interest in the Unit, further encumbering of the Unit, after these Deeds of Trust, including subsequent loans and/or any other encumbrances or liens against the Unit, shall be limited such that the total encumbrance of the Unit does not exceed 95% of the below market rate value of the Unit without the prior written consent of the Town. Violations of this provision shall be considered a violation of this Agreement.
