Common use of Restrictions of Borrower Clause in Contracts

Restrictions of Borrower. Borrower will not be, on or after the date hereof, a party to any contract or agreement which prohibits Borrower’s execution of or compliance with the terms of this Agreement or the other Loan Documents. Borrower has not agreed or consented to cause or permit in the future (upon the happening of a contingency or otherwise) any of the Collateral, whether now owned or hereafter acquired, to be subject to a Lien except in favor of Agent as provided herein.

Appears in 1 contract

Samples: Loan and Security Agreement (Silverleaf Resorts Inc)

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Restrictions of Borrower. Borrower will not be, on or after the date hereof, a party to any contract or agreement which prohibits Borrower’s execution of or compliance with the terms of this Agreement or the other Loan Documents. Borrower has not agreed or consented to cause or permit in the future (upon the happening of a contingency or otherwise) any of the Collateral, whether now owned or hereafter acquired, to be subject to a Lien except in favor of Agent Lender as provided herein.

Appears in 1 contract

Samples: Loan and Security Agreement (Silverleaf Resorts Inc)

Restrictions of Borrower. Borrower will not be, on or after the date hereof, a party to any contract or agreement which prohibits Borrower’s 's execution of or compliance with the terms of this Agreement or the other Loan Documents. Borrower has not agreed or consented to cause or permit in the future (upon the happening of a contingency or otherwise) any of the Collateral, whether now owned or hereafter acquired, to be subject to a Lien except in favor of Agent as provided herein.

Appears in 1 contract

Samples: Loan and Security Agreement (Silverleaf Resorts Inc)

Restrictions of Borrower. Borrower will not be, on or after the date hereof, a party to any contract or agreement which prohibits Borrower’s execution of or compliance with the terms of this Agreement or Agreement, the other Loan Documents, or the Inventory Loan Agreement. Borrower has not agreed or consented to cause or permit in the future (upon the happening of a contingency or otherwise) any of the Collateral, whether now owned or hereafter acquired, to be subject to a Lien except in favor of Agent as provided hereinherein and TFC under the Inventory Loan.

Appears in 1 contract

Samples: Loan Agreement (Silverleaf Resorts Inc)

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Restrictions of Borrower. Except as set forth on Schedule 6.14, the Borrower will not be, on or after the date hereof, a party to any contract or agreement which restricts its right or ability to incur indebtedness or prohibits Borrower’s execution of or compliance with the terms of this Agreement or and the other Loan Documents. The Borrower has not agreed or consented to cause or permit in the future (upon the happening of a contingency or otherwise) any of the Collateral, whether now owned or hereafter acquired, to be subject to a Lien except in favor of Agent as provided herein.

Appears in 1 contract

Samples: Loan and Security Agreement (Silverleaf Resorts Inc)

Restrictions of Borrower. Borrower will not be, on or after the date hereof, a party to any contract or agreement which prohibits Borrower’s execution of or compliance with the terms of this Agreement or Agreement, the other Loan Documents, or the Additional Credit Facility Agreement. Borrower has not agreed or consented to cause or permit in the future (upon the happening of a contingency or otherwise) any of the Collateral, whether now owned or hereafter acquired, to be subject to a Lien except in favor of Agent as provided hereinherein and under the Additional Credit Facility.

Appears in 1 contract

Samples: Loan and Security Agreement (Silverleaf Resorts Inc)

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