Common use of Restrictions on Liens and Negative Pledges Clause in Contracts

Restrictions on Liens and Negative Pledges. The Parent Guarantor and the Borrower shall not, and shall not permit any other Loan Party or any Subsidiary of any Loan Party to, (a) create, assume, incur, permit or suffer to exist any Lien on any Borrowing Base Property or any direct or indirect ownership interest of the Borrower in any Person owning any Borrowing Base Property, now owned or hereafter acquired, except for Permitted Liens or (b) permit any Borrowing Base Property or any direct or indirect ownership interest of the Borrower or in any Person owning a Borrowing Base Property, to be subject to a Negative Pledge.

Restrictions on Liens and Negative Pledges. The Parent Guarantor and the Borrower shall not, and shall not permit any other Loan Party or any Subsidiary of any Loan Party to, (a) create, assume, incur, permit or suffer to exist any Lien on any Borrowing Base Eligible Property or any direct or indirect ownership interest of the Borrower in any Person owning any Borrowing Base Eligible Property, now owned or hereafter acquired, except for Permitted Liens Liens, or (b) permit any Borrowing Base Eligible Property or any direct or indirect ownership interest of the Borrower or in any Person owning a Borrowing Base an Eligible Property, to be subject to a Negative Pledge.