Restrictions on Liens, Etc. The Obligors will not, and will not permit any Subsidiary to: (a) create or incur or suffer to be created or incurred or to exist any lien, encumbrance, mortgage, pledge, charge, restriction or other security interest of any kind upon any of its property or assets of any character whether now owned or hereafter acquired, or upon the income or profits therefrom; (b) transfer any of such property or assets or the income or profits therefrom for the purpose of subjecting the same to the payment of Debt or performance of any other obligation in priority to payment of its general creditors; (c) acquire, or agree or have an option to acquire, any property or assets upon conditional sale or other title retention or purchase money security agreement, device or arrangement; (d) suffer to exist for a period of more than thirty (30) days after the same shall have been incurred any Debt or claim or demand against it that if unpaid might by law or upon bankruptcy or insolvency, or otherwise, be given any priority whatsoever over its general creditors; or (e) sell, assign, pledge or otherwise transfer any accounts, contract rights, general intangibles, chattel paper or instruments, with or without recourse (the foregoing items (a) through (e) being sometimes referred to in this Section 10.2 collectively as "Liens"), provided that the Obligors and any Subsidiary may create or incur or suffer to be credited or incurred to exist:
Appears in 3 contracts
Samples: Note Purchase Agreement (Sovran Self Storage Inc), Note Purchase Agreement (Sovran Acquisition LTD Partnership), Note Purchase Agreement (Sovran Self Storage Inc)
Restrictions on Liens, Etc. The Obligors will not, and Borrowers will not permit any Subsidiary to: (a) create or incur or suffer to be created or incurred or to exist any lien, security title, encumbrance, mortgage, pledge, negative pledge, charge, restriction or other security interest of any kind upon any of its their respective property or assets of any character whether now owned or hereafter acquired, or upon the income or profits therefrom; (b) transfer any of such their property or assets or the income or profits therefrom for the purpose of subjecting the same to the payment of Debt Indebtedness or performance of any other obligation in priority to payment of its general creditors; (c) acquire, or agree or have an option to acquire, any property or assets upon conditional sale or other title retention or purchase money security agreement, device or arrangement; (d) suffer to exist for a period of more than thirty (30) days after the same shall have been incurred any Debt Indebtedness or claim or demand against it any of them that if unpaid might could by law or upon bankruptcy or insolvency, or otherwise, be given any priority whatsoever over its any of their general creditors; or (ed) sell, assign, pledge or otherwise transfer any accounts, contract rights, general intangibles, chattel paper or instruments, with or without recourse (the foregoing items (a) through recourse; or (e) being sometimes referred incur or maintain any obligation to in this Section 10.2 collectively as "any holder of Indebtedness of any of such Persons which prohibits the creation or maintenance of any lien securing the Obligations (collectively, “Liens"”), ; provided that notwithstanding anything to the Obligors and any Subsidiary contrary contained herein, the Borrowers may create or incur or suffer to be credited created or incurred or to exist:
Appears in 3 contracts
Samples: Credit Agreement (CoreSite Realty Corp), Credit Agreement (CoreSite Realty Corp), Credit Agreement (CoreSite Realty Corp)
Restrictions on Liens, Etc. The Obligors will notIf the Revolving Credit Agreement is no longer in effect, none of the Borrower, any Guarantor, any Operating Subsidiary and will not permit any wholly-owned Subsidiary towill: (a) create or incur or suffer to be created or incurred or to exist any lien, encumbrance, mortgage, pledge, negative pledge, charge, restriction or other security interest of any kind upon any of its property or assets of any character whether now owned or hereafter acquired, or upon the income or profits therefrom; (b) transfer any of such property or assets or the income or profits therefrom for the purpose of subjecting the same to the payment of Debt Indebtedness or performance of any other obligation in priority to payment of its general creditors; (c) acquire, or agree or have an option to acquire, any property or assets upon conditional sale or other title retention or purchase money security agreement, device or arrangement; (d) suffer to exist for a period of more than thirty (30) days after the same shall have been incurred any Debt Indebtedness or claim or demand against it that if unpaid might by law or upon bankruptcy or insolvency, or otherwise, be given any priority whatsoever over its general creditors; or (e) sell, assign, pledge or otherwise transfer any accounts, contract rights, general intangibles, chattel paper or instruments, with or without recourse (the foregoing items (a) through (e) being sometimes referred to in this Section 10.2 §8.2 collectively as "“Liens"”), provided that the Obligors Borrower, the Guarantors and any Subsidiary may create or incur or suffer to be credited created or incurred or to exist:
Appears in 2 contracts
Samples: Term Loan Agreement (Mack Cali Realty L P), Term Loan Agreement (Mack Cali Realty Corp)
Restrictions on Liens, Etc. The Obligors will notWithout limiting the terms of §8.1, and Borrower will not permit any Subsidiary to: (a) create or incur or suffer to be created or incurred or to exist any lien, encumbrance, mortgage, pledge, negative pledge, charge, restriction or other security interest of any kind upon any of its property or assets of any character whether now owned or hereafter acquired, or upon the rents, income or profits therefrom; (b) transfer any of such its property or assets or the income or profits therefrom for the purpose of subjecting the same to the payment of Debt Indebtedness or performance of any other obligation in priority to payment of its general creditors; (c) acquire, or agree or have an option to acquire, any property or assets upon conditional sale or other title retention or purchase money security agreement, device or arrangement; (d) suffer to exist for a period of more than thirty (30) days after the same shall have been incurred any Debt Indebtedness or claim or demand against it that if unpaid might by law or upon bankruptcy or insolvency, or otherwise, be given any priority whatsoever over its general creditors; or (e) sell, assign, pledge or otherwise transfer or encumber any accounts, contract rights, general intangibles, chattel paper or instruments, with or without recourse recourse; or (f) incur or maintain any obligation to any holder of Indebtedness of Borrower which prohibits the foregoing items creation or maintenance of any lien securing the Obligations (a) through (e) being sometimes referred to in this Section 10.2 collectively as "“Liens"”), ; provided that Borrower, without the Obligors and any Subsidiary consent of Lender, may create or incur or suffer to be credited created or incurred or to exist:
Appears in 2 contracts
Samples: Mezzanine Loan Agreement (Preferred Apartment Communities Inc), Mezzanine Loan Agreement (Preferred Apartment Communities Inc)
Restrictions on Liens, Etc. The Obligors Borrower will not, and nor will not it permit any Subsidiary of its Subsidiaries to: , (a) create or incur or suffer to be created or incurred or to exist any lien, encumbrance, mortgage, pledge, charge, restriction or other security interest of any kind upon any of its property or assets of any character whether now owned or hereafter acquired, or upon the income or profits therefrom; (b) transfer any of such its property or assets or the income or profits therefrom for the purpose of subjecting the same to the payment of Debt Indebtedness or performance of any other obligation in priority to payment of its general creditors; (c) acquire, or agree or have an option to acquire, any property or assets upon conditional sale or other title retention or purchase money security agreement, device or arrangement; (d) suffer to exist for a period of more than thirty (30) 30 days after the same shall have been incurred any Debt Indebtedness or claim or demand against it that if unpaid might by law or upon bankruptcy or insolvency, or otherwise, be given any priority whatsoever over its general creditors; or (e) sell, assign, pledge or otherwise transfer any accounts, contract rights, general intangibles, chattel paper or instruments, with or without recourse (the foregoing items (a) through (e) being sometimes referred to in this Section 10.2 collectively as "Liens"), recourse; provided that the Obligors Borrower and any Subsidiary of its Subsidiaries may create or incur or suffer to be credited created or incurred or to exist:
Appears in 2 contracts
Samples: Revolving Credit Agreement (Foundation Capital Resources Inc), Revolving Credit Agreement (American Church Mortgage Co)
Restrictions on Liens, Etc. The Obligors will notExcluding the Expansion Mortgage, and the Borrower will not permit any Subsidiary to: (a) create or incur or suffer to be created or incurred or to exist any lien, encumbrance, mortgage, pledge, charge, charge restriction or other security interest of any kind upon any of its property or assets of any character whether now owned or hereafter acquired, or upon the income or profits therefrom; (b) transfer any of such its property or assets or the income or profits therefrom for the purpose of subjecting the same to the payment of Debt Indebtedness or performance of any other obligation in priority priority to payment of its general creditors; (c) acquire, acquire or agree or have an option to acquire, any property or assets upon conditional conditional sale or other title retention or purchase money security agreement, device or arrangement; (d) suffer to exist for a period of more than thirty (30) days after the same shall have been incurred any Debt Indebtedness or claim or demand against it that if unpaid might by law or upon bankruptcy or insolvency, or otherwise, be given any priority whatsoever over its general creditors; or (e) sell, assign, pledge or otherwise transfer any accounts, contract rights, general intangibles, chattel paper or instruments, with or without recourse (the foregoing items (a) through (e) being sometimes referred to in this Section 10.2 collectively as "Liens"), recourse; provided that the Obligors and any Subsidiary Borrower may create or incur or suffer to be credited created or incurred or to exist, the following Permitted Liens:
Appears in 2 contracts
Samples: Construction Loan and Security Agreement (Griffin Land & Nurseries Inc), Construction Loan and Security Agreement (Griffin Land & Nurseries Inc)
Restrictions on Liens, Etc. The Obligors will notNone of the Borrower, any Guarantor, any Operating Subsidiary and will not permit any wholly-owned Subsidiary towill: (a) create or incur or suffer to be created or incurred or to exist any lien, encumbrance, mortgage, pledge, negative pledge, charge, restriction or other security interest of any kind upon any of its property or assets of any character whether now owned or hereafter acquired, or upon the income or profits therefrom; (b) transfer any of such property or assets or the income or profits therefrom for the purpose of subjecting the same to the payment of Debt Indebtedness or performance of any other obligation in priority to payment of its general creditors; (c) acquire, or agree or have an option to acquire, any property or assets upon conditional sale or other title retention or purchase money security agreement, device or arrangement; (d) suffer to exist for a period of more than thirty (30) days after the same shall have been incurred any Debt Indebtedness or claim or demand against it that if unpaid might by law or upon bankruptcy or insolvency, or otherwise, be given any priority whatsoever over its general creditors; or (e) sell, assign, pledge or otherwise transfer any accounts, contract rights, general intangibles, -87- chattel paper or instruments, with or without recourse (the foregoing items (a) through (e) being sometimes referred to in this Section 10.2 8.2 collectively as "LiensLIENS"), provided PROVIDED that the Obligors Borrower, the Guarantors and any Subsidiary may create or incur or suffer to be credited created or incurred or to exist:
Appears in 2 contracts
Samples: Revolving Credit Agreement (Mack Cali Realty Corp), Revolving Credit Agreement (Mack Cali Realty L P)
Restrictions on Liens, Etc. The Obligors will notNone of any Borrower, any Guarantor, any Operating Subsidiary and will not permit any wholly-owned Subsidiary towill: (a) create or incur or suffer to be created or incurred or to exist any lien, encumbrance, mortgage, pledge, charge, restriction or other security interest of any kind upon any of its property or assets of any character whether now owned or hereafter acquired, or upon the income or profits therefrom; (b) transfer any of such property or assets or the income or profits therefrom for the purpose of subjecting the same to the payment of Debt Indebtedness or performance of any other obligation in priority to payment of its general creditors; (c) acquire, or agree or have an option to acquire, any property or assets upon conditional sale or other title retention or purchase money security agreement, device or arrangement; (d) suffer to exist for a period of more than thirty (30) days after the same shall have been incurred any Debt Indebtedness or claim or demand against it that if unpaid might by law or upon bankruptcy or insolvency, or otherwise, be given any priority whatsoever over its general creditors; or (e) sell, assign, pledge or otherwise transfer any accounts, contract rights, general intangibles, chattel paper or instruments, with or without recourse (the foregoing items (a) through (e) being sometimes referred to in this Section 10.2 §9.2 collectively as "Liens"), provided that the Obligors Borrowers, the Guarantors and any Subsidiary may create or incur or suffer to be credited created or incurred or to exist:
Appears in 2 contracts
Samples: Credit Agreement (Sovran Self Storage Inc), Credit Agreement (Sovran Acquisition LTD Partnership)
Restrictions on Liens, Etc. The Obligors will not, and will not permit any No Subsidiary to: Property Owner shall (a) create or incur or suffer to be created or incurred or to exist any lien, encumbrance, mortgage, pledge, charge, restriction or other security interest of any kind upon any of its property or assets of any character whether now owned or hereafter acquired, or upon the income or profits therefrom; (b) transfer any of such its property or assets or the income or profits therefrom for the purpose of subjecting the same to the payment of Debt Indebtedness or performance of any other obligation in priority to payment of its general creditors; (c) acquire, or agree or have an option to acquire, any property or assets upon conditional sale or other title retention or purchase money security agreement, device or arrangement; (d) suffer to exist for a period of more than thirty (30) days after the same shall have been incurred any Debt Indebtedness or claim or demand against it that if unpaid might by law or upon bankruptcy or insolvency, or otherwise, be given any priority whatsoever over its general creditors; or (e) sell, assign, pledge or otherwise transfer any accounts, contract rights, general intangibles, chattel paper or instruments, with or without recourse recourse; or (f) incur or maintain any obligation which prohibits the foregoing items creation or maintenance of any lien securing the Obligations (a) through (e) being sometimes referred to in this Section 10.2 collectively as "collectively, “Liens"”), ; provided that the Obligors and any each Subsidiary Property Owner may create or incur or suffer to be credited created or incurred or to exist:
Appears in 2 contracts
Samples: Revolving Credit Agreement (Ramco Gershenson Properties Trust), Revolving Credit Agreement (Ramco Gershenson Properties Trust)
Restrictions on Liens, Etc. The Obligors Without limiting the terms of §8.1, Borrower will not, and will not permit any Subsidiary to: (aOwner to,(a) create or incur or suffer to be created or incurred or to exist any lien, encumbrance, mortgage, pledge, negative pledge, charge, restriction or other security interest of any kind upon any of its property or assets of any character whether now owned or hereafter acquired, or upon the rents, income or profits therefrom; (b) transfer any of such its property or assets or the income or profits therefrom for the purpose of subjecting the same to the payment of Debt Indebtedness or performance of any other obligation in priority to payment of its general creditors; (c) acquire, or agree or have an option to acquire, any property or assets upon conditional sale or other title retention or purchase money security agreement, device or arrangement; (d) suffer to exist for a period of more than thirty (30) days after the same shall have been incurred any Debt Indebtedness or claim or demand against it that if unpaid might by law or upon bankruptcy or insolvency, or otherwise, be given any priority whatsoever over its general creditors; or (e) sell, assign, pledge or otherwise transfer or encumber any accounts, contract rights, general intangibles, chattel paper or instruments, with or without recourse recourse; or (f) incur or maintain any obligation to any holder of Indebtedness of Borrower or Owner which prohibits the foregoing items creation or maintenance of any lien securing the Obligations (a) through (e) being sometimes referred to in this Section 10.2 collectively as "“Liens"”), ; provided that Borrower, without the Obligors consent of Lender, may, and any Subsidiary may permit Owner to, create or incur or suffer to be credited created or incurred or to exist:
Appears in 2 contracts
Samples: Mezzanine Loan Agreement (Preferred Apartment Communities Inc), Mezzanine Loan Agreement (Preferred Apartment Communities Inc)
Restrictions on Liens, Etc. The Obligors will notNone of any Borrower, any Guarantor, any Operating Subsidiary and will not permit any wholly-owned Subsidiary towill: (a) create or incur or suffer to be created or incurred or to exist any lien, encumbrance, mortgage, pledge, charge, restriction or other security interest of any kind upon any of its property or assets of any character whether now owned or hereafter acquired, or upon the income or profits therefrom; (b) transfer any of such property or assets or the income or profits therefrom for the purpose of subjecting the same to the payment of Debt Indebtedness or performance of any other obligation in priority to payment of its general creditors; (c) acquire, or agree or have an option to acquire, any property or assets upon conditional sale or other title retention or purchase money security agreement, device or arrangement; (d) suffer to exist for a period of more than thirty (30) days after the same shall have been incurred any Debt Indebtedness or claim or demand against it that if unpaid might by law or upon bankruptcy or insolvency, or otherwise, be given any priority whatsoever over its general creditors; or (e) sell, assign, pledge or otherwise transfer any accounts, contract rights, general intangibles, chattel paper or instruments, with or without recourse (the foregoing items (a) through (e) being sometimes referred to in this Section 10.2 ss.8.2 collectively as "Liens"), provided that the Obligors Borrowers, the Guarantors and any Subsidiary may create or incur or suffer to be credited created or incurred or to exist:
Appears in 1 contract
Samples: Revolving Credit Agreement (Cali Realty Corp /New/)
Restrictions on Liens, Etc. The Obligors will not, Borrower and its Subsidiaries will not permit any Subsidiary to: (a) create or incur or suffer to be created or incurred or to exist any lien, encumbrance, mortgage, pledge, charge, restriction or other security interest of any kind upon any of its property or assets of any character whether now owned or hereafter acquired, or upon the income or profits therefrom; (b) transfer any of such its property or assets or the income or profits therefrom for the purpose of subjecting the same to the payment of Debt Indebtedness or performance of any other obligation in priority to payment of its general creditors; (c) acquire, or agree or have an option to acquire, any property or assets upon conditional sale or other title retention or purchase money security agreement, device or arrangement; (d) suffer to exist for a period of more than thirty (30) days after the same shall have been incurred any Debt Indebtedness or claim or demand against it that if unpaid might by law or upon bankruptcy or insolvency, or otherwise, be given any priority whatsoever over its general creditors; or (e) sell, assign, pledge or otherwise transfer any accounts, contract rights, general intangibles, chattel paper or instruments, with or without recourse (the foregoing items (a) through (e) being sometimes referred to in this Section 10.2 collectively as "Liens"), recourse; provided that the Obligors and any Subsidiary Borrower may create or incur or suffer to be credited created or incurred or to exist:
Appears in 1 contract
Samples: Credit and Guaranty Agreement (Humphrey Hospitality Trust Inc)
Restrictions on Liens, Etc. The Obligors Borrower will not, and will not permit any Subsidiary of its Subsidiaries to: , (a) create or incur or suffer to be created or incurred or to exist any lien, encumbrance, mortgage, pledge, charge, restriction or other security interest of any kind upon any of its property or assets of any character whether now owned or hereafter acquired, or upon the income or profits therefrom; (b) transfer any of such its property or assets or the income or profits therefrom for the purpose of subjecting the same to the payment of Debt Indebtedness or performance of any other obligation in priority to payment of its general creditors; (c) acquire, or agree or have an option to acquire, any property or assets upon conditional sale or other title retention or purchase money security agreement, device or arrangement; (d) suffer to exist for a period of more than thirty (30) 30 days after the same shall have been incurred any Debt Indebtedness or claim or demand against it that if unpaid might by law or upon bankruptcy or insolvency, or otherwise, be given any priority whatsoever over its general creditors; or (e) sell, assign, pledge or otherwise transfer any accounts, contract rights, general intangibles, chattel paper or instruments, with or without recourse recourse; or (f) incur or maintain any obligation to any holder of Indebtedness of the foregoing items Borrower or such Subsidiary which prohibits the creation or maintenance of any lien securing the Obligation (a) through (e) being sometimes referred to in this Section 10.2 collectively as "Liens"), ; provided that the Obligors Borrower and any Subsidiary of the Borrower may create or incur or suffer to be credited created or incurred or to exist:
Appears in 1 contract
Restrictions on Liens, Etc. The Obligors Neither Borrower nor the Guarantor will not, and will not permit any Subsidiary to: (a) create or incur or suffer to be created or incurred or to exist any lien, encumbrance, mortgage, pledge, negative pledge, charge, restriction or other security interest of any kind upon any of its property or assets of any character whether now owned or hereafter acquired, or upon the income or profits therefrom, provided that Borrower shall have the right to contest assessments or bond off liens as long as such actions do not jeopardize the Collateral and, in the case of tax assessments, Borrower posts additional cash collateral as the Agent may request and in the case of liens, such bonds are posted to completely remove the lien within thirty days of the filing of the lien; (b) transfer any of such its property or assets or the income or profits therefrom for the purpose of subjecting the same to the payment of Debt Indebtedness or performance of any other obligation in priority to payment of its general creditors; (c) acquire, or agree or have an option to acquire, any property or assets upon conditional sale or other title retention or purchase money security agreement, device or arrangement; (d) suffer to exist for a period of more than thirty (30) days after the same shall have been incurred any Debt Indebtedness or claim or demand against it that if unpaid might by law or upon bankruptcy or insolvency, or otherwise, be given any priority whatsoever over its general creditors; or (e) sell, assign, transfer, pledge or otherwise transfer encumber any accounts, contract rights, general intangibles, chattel paper or instruments, with or without recourse recourse; or (f) incur or maintain any obligation to any holder of Indebtedness of any such Persons which prohibits the foregoing items (a) through (e) being sometimes referred to in this Section 10.2 collectively as "Liens"), creation or maintenance of any lien securing the Obligations; provided that the Obligors and any Subsidiary such Persons may create or incur or suffer to be credited created or incurred or to exist:
Appears in 1 contract
Samples: Entire Agreement (California Coastal Communities Inc)
Restrictions on Liens, Etc. The Obligors will notExcept in connection with Borrower’s purchase, origination, sale and will refinancing from time to time of Mortgage Loans and related assets in the ordinary course of business as intended to be conducted on the Closing Date, Borrower shall not permit any Subsidiary to: (a) create or incur or suffer to be created or incurred or to exist any lien, encumbrance, mortgage, pledge, charge, restriction or other security interest Lien of any kind upon any of its property or assets of any character whether now owned or hereafter acquired, or upon the income or profits therefrom; (b) except in the ordinary course, transfer any of such its property or assets or the income or profits therefrom for the purpose of subjecting the same to the payment of Debt Indebtedness or performance of any other obligation in priority to payment of its general creditors; (c) acquire, or agree or have an option to acquire, any property or assets upon conditional sale or other title retention or purchase money security agreement, device or arrangement; (d) suffer to exist for a period of more than thirty (30) days after the same shall have been incurred any Debt Indebtedness or claim or demand against it it, other than Indebtedness to Administrative Agent and Lenders arising hereunder or the other Loan Documents, that if unpaid might by law or upon bankruptcy or insolvency, or otherwise, be given any priority whatsoever over its general creditors; or (e) sell, assign, pledge or otherwise transfer any accounts, contract rights, general intangibles, chattel paper paper, instruments or instrumentsother assets, with or without recourse (the foregoing items (a) through (e) being sometimes referred to in this Section 10.2 collectively as "Liens")recourse; provided, provided however, that the Obligors and any Subsidiary Borrower may create or incur or suffer to be credited created or incurred or to exist:
Appears in 1 contract
Samples: Warehousing Credit and Security Agreement (Walker & Dunlop, Inc.)
Restrictions on Liens, Etc. The Obligors Borrower will not, and will not permit any Subsidiary of its Subsidiaries to: , (a) create or incur or suffer to be created or incurred or to exist any lien, encumbrance, mortgage, pledge, negative pledge, charge, restriction or other security interest of any kind upon any of its property or assets of any character whether now owned or hereafter acquired, or upon the income or profits therefrom; (b) transfer any of such its property or assets or the income or profits therefrom for the purpose of subjecting the same to the payment of Debt Indebtedness or performance of any other obligation in priority to payment of its general creditors; (c) acquire, or agree or have an option to acquire, any property or assets upon conditional sale or other title retention or purchase money security agreement, device or arrangement; (d) suffer to exist for a period of more than thirty (30) 30 days after the same shall have been incurred any Debt Indebtedness or claim or demand against it that if unpaid might by law or upon bankruptcy or insolvency, or otherwise, be given any priority whatsoever over its general creditors; or (e) sell, assign, pledge or otherwise transfer any accounts, contract rights, general intangibles, chattel paper or instruments, with or without recourse recourse; or (f) incur or maintain any obligation to any holder of Indebtedness of the foregoing items Borrower or such Subsidiary which prohibits the creation or maintenance of any lien securing the Obligations (a) through (e) being sometimes referred to in this Section 10.2 collectively as "Liens"), ; provided that the Obligors Borrower and any Subsidiary of the Borrower may create or incur or suffer to be credited created or incurred or to exist:
Appears in 1 contract
Samples: Revolving Credit Agreement (Wellsford Real Properties Inc)
Restrictions on Liens, Etc. The Obligors Borrower will not, and will not permit any Subsidiary its Subsidiaries to: , (a) create or incur or suffer to be created or incurred or to exist any lien, encumbrance, mortgage, pledge, negative pledge, charge, restriction or other security interest of any kind upon any of its property or assets of any character whether now owned or hereafter acquired, or upon the income or profits therefrom; (b) transfer any of such its property or assets or the income or profits therefrom for the purpose of subjecting the same to the payment of Debt Indebtedness or performance of any other obligation in priority to payment of its general creditors; (c) acquire, or agree or have an option to acquire, any property or assets upon conditional sale or other title retention or purchase money security agreement, device or arrangement; (d) suffer to exist for a period of more than thirty (30) 30 days after the same shall have been incurred any Debt Indebtedness or claim or demand against it that if unpaid might by law or upon bankruptcy or insolvency, or otherwise, be given any priority whatsoever over its general creditors, subject to Borrower's rights pursuant to Section 7.8; or (e) sell, assign, pledge or otherwise transfer encumber any accounts, contract rights, general intangibles, chattel paper or instruments, with or without recourse recourse; or (f) incur or maintain any obligation to any holder of Indebtedness of the foregoing items Borrower or such Subsidiary which prohibits the creation or maintenance of any lien securing the Obligations (a) through (e) being sometimes referred to in this Section 10.2 collectively as "Liens"), ; provided that the Obligors Borrower and any Subsidiary of the Borrower may create or incur or suffer to be credited created or incurred or to exist:
Appears in 1 contract
Samples: Revolving Credit Agreement (Excel Realty Trust Inc)
Restrictions on Liens, Etc. The Obligors CCA and its Subsidiaries will not, and will not permit any Subsidiary to: (ai) create or incur or suffer to be created or incurred or to exist any lien, encumbrance, mortgage, pledge, charge, restriction or other security interest of any kind Lien upon any of the Capri Company Equity Interests of CCA and its Subsidiaries or its property or assets of any character whether now owned or hereafter acquired, or upon the income or profits therefrom; (bii) transfer any of such its property or assets or the income or profits therefrom for the purpose of subjecting the same to the payment of Debt Indebtedness or performance of any other obligation in priority to payment of its general creditors; (ciii) acquire, or agree or have an option to acquire, any property or assets upon conditional sale or other title retention or purchase money security agreement, device or arrangement; (div) suffer to exist for a period of more than thirty (30) days after the same shall have been incurred any Debt Indebtedness or claim or demand against it that if unpaid might by law or upon bankruptcy or insolvency, or otherwise, be given any priority whatsoever over its general creditors; or (ev) sell, assign, pledge or otherwise transfer any accounts, contract rights, general intangibles, chattel paper or instruments, with or without recourse (the foregoing items (a) through (e) being sometimes referred to in this Section 10.2 collectively as "Liens")recourse; PROVIDED, provided HOWEVER, that the Obligors CCA and any Subsidiary its Subsidiaries may create or incur or suffer to be credited created or incurred or to exist:exist the following ("CCA PERMITTED LIENS"):
Appears in 1 contract
Samples: Investment Agreement (Chartermac)
Restrictions on Liens, Etc. The Obligors will not, and Borrower will not permit any Subsidiary to: (a) create or incur or suffer to be created or incurred or to exist any lien, encumbrance, mortgage, pledge, negative pledge, charge, restriction or other security interest of any kind upon any of its property or assets of any character whether now owned or hereafter acquired, or upon the income or profits therefrom; (b) transfer any of such its property or assets or the income or profits therefrom for the purpose of subjecting the same to the payment of Debt Indebtedness or performance of any other obligation in priority to payment of its general creditors; (c) acquire, or agree or have an option to acquire, any property or assets upon conditional sale or other title retention or purchase money security agreement, device or arrangement; (d) suffer to exist for a period of more than thirty (30) 30 days after the same shall have been incurred any Debt Indebtedness or claim or demand against it that if unpaid might by law or upon bankruptcy or insolvency, or otherwise, be given any priority whatsoever over its general creditors; or (e) sell, assign, pledge or otherwise transfer any accounts, contract rights, general intangibles, chattel paper or instruments, with or without recourse recourse; or (f) incur or maintain any obligation to any holder of Indebtedness of the foregoing items Borrower which prohibits the creation or maintenance of any lien securing the Obligations (a) through (e) being sometimes referred to in this Section 10.2 collectively as "Liens"), ; provided that the Obligors and any Subsidiary Borrower may create or incur or suffer to be credited created or incurred or to exist:
Appears in 1 contract
Samples: Revolving Credit Agreement (Wellsford Real Properties Inc)
Restrictions on Liens, Etc. The Obligors Borrower will not, and will not permit any Subsidiary of its Subsidiaries to: , (a) create or incur or suffer to be created or incurred or to exist any lien, encumbrance, mortgage, pledge, charge, restriction or other security interest of any kind upon any of its property or assets of any character whether now owned or hereafter acquired, or upon the income or profits therefrom; (b) transfer any of such its property or assets or the income or profits therefrom for the purpose of subjecting the same to the payment of Debt Indebtedness or performance of any other obligation in priority to payment of its general creditors; (c) acquire, or agree or have an option to acquire, any property or assets upon conditional sale or other title retention or purchase money security agreement, device or arrangement; (d) suffer to exist for a period of more than thirty (30) days after the same shall have been incurred any Debt Indebtedness or claim or demand against it that if unpaid might by law or upon bankruptcy or insolvency, or otherwise, be given any priority whatsoever over its general creditors; or (e) sell, assign, pledge or otherwise transfer any accounts, contract rights, general intangibles, chattel paper or instruments, with or without recourse (the foregoing items (a) through (e) being sometimes referred to in this Section 10.2 collectively as "Liens"), provided recourse; PROVIDED that the Obligors Borrower and any Subsidiary of the Borrower may create or incur or suffer to be credited created or incurred or to exist:
Appears in 1 contract
Restrictions on Liens, Etc. The Obligors will not, and Each of the Borrowers will not permit any Subsidiary to: (a) create or incur or suffer to be created or incurred or to exist any lien, encumbrance, mortgage, pledge, negative pledge, charge, restriction or other security interest of any kind upon any of its property or assets of any character whether now owned or hereafter acquired, or upon the income or profits therefrom; (b) transfer any of such its property or assets or the income or profits therefrom for the purpose of subjecting the same to the payment of Debt Indebtedness or performance of any other obligation in priority to payment of its general creditors; (c) acquire, or agree or have an option to acquire, any property or assets upon conditional sale or other title retention or purchase money security agreement, device or arrangement; (d) suffer to exist for a period of more than thirty (30) 30 days after the same shall have been incurred come due any Debt Indebtedness or claim or demand against it that if unpaid might by law or upon bankruptcy or insolvency, or otherwise, be given any priority whatsoever over its general creditors; or (e) sell, assign, pledge or otherwise transfer encumber any accounts, contract rights, general intangibles, chattel paper or instruments, with or without recourse recourse; or (f) incur or maintain any obligation to any holder of Indebtedness of such Person which prohibits the foregoing items creation or maintenance of any lien securing the Obligations (a) through (e) being sometimes referred to in this Section 10.2 collectively as "“Liens"”), ; provided that the Obligors and any Subsidiary Borrowers may create or incur or suffer to be credited created or incurred or to exist:
Appears in 1 contract
Samples: Loan Agreement (Meruelo Richard)
Restrictions on Liens, Etc. The Obligors Borrower will not, and will not permit any Subsidiary Managing Member to: , (a) create or incur or suffer to be created or incurred or to exist any lien, security title, encumbrance, mortgage, pledge, negative pledge, charge, restriction or other security interest of any kind upon any of its property or assets of any character whether now owned or hereafter acquired, or upon the income or profits therefrom; (b) transfer any of such its property or assets or the income or profits therefrom for the purpose of subjecting the same to the payment of Debt Indebtedness or performance of any other obligation in priority to payment of its general creditors; (c) acquire, or agree or have an option to acquire, any property or assets upon conditional sale or other title retention or purchase money security agreement, device or arrangement; (d) suffer to exist for a period of more than thirty (30) 30 days after the same shall have been incurred any Debt Indebtedness or claim or demand against it that if unpaid might by law or upon bankruptcy or insolvency, or otherwise, be given any priority whatsoever over its general creditors; or (e) sell, assign, pledge or otherwise transfer any accounts, contract rights, general intangibles, chattel paper or instruments, with or without recourse recourse; or (the foregoing items (af) through (e) being sometimes referred to in this Section 10.2 collectively as "Liens"), provided that the Obligors and any Subsidiary may create or incur or suffer maintain any obligation to be credited any holder of Indebtedness of the Borrower which prohibits the creation or incurred to exist:maintenance of any lien securing the Obligations.
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Restrictions on Liens, Etc. The Obligors Each of the Borrowers will not, and will not permit any Subsidiary of its Controlled Subsidiaries to: , (a) create or incur or suffer to be created or incurred or to exist any lien, encumbrance, mortgage, pledge, negative pledge, charge, restriction or other security interest of any kind upon any of its property or assets of any character whether now owned or hereafter acquired, or upon the income or profits therefrom; (b) transfer any of such its property or assets or the income or profits therefrom for the purpose of subjecting the same to the payment of Debt Indebtedness or performance of any other obligation in priority to payment of its general creditors; (c) acquire, or agree or have an option to acquire, any property or assets upon conditional sale or other title retention or purchase money security agreement, device or arrangement; (d) suffer to exist for a period of more than thirty (30) 60 days after the same shall have been incurred any Debt Indebtedness or claim or demand against it that if unpaid might by law or upon bankruptcy or insolvency, or otherwise, be given any priority whatsoever over its general creditors; or (e) sell, assign, pledge or otherwise transfer encumber any accounts, contract rights, general intangibles, chattel paper or instruments, with or without recourse recourse; or (f) incur or maintain any obligation to any holder of Indebtedness of such Borrowers or such Controlled Subsidiary which prohibits the foregoing items creation or maintenance of any lien securing the Obligations (a) through (e) being sometimes referred to in this Section 10.2 collectively as the "Liens"), ; provided that the Obligors a Borrower and any Controlled Subsidiary of a Borrower may create or incur or suffer to be credited created or incurred or to exist:
Appears in 1 contract
Samples: Master Credit Agreement (Wellsford Real Properties Inc)
Restrictions on Liens, Etc. The Obligors Each of the Parties will not, and will not permit any Subsidiary of its Subsidiaries to: , (a) create or incur or suffer to be created or incurred or to exist any lien, encumbrance, mortgage, pledge, charge, restriction or other security interest of any kind upon any of its property or assets of any character whether now owned or hereafter acquired, or upon the income or profits therefrom; (b) transfer any of such its property or assets or the income or profits therefrom for the purpose of subjecting the same to the payment of Debt Indebtedness or performance of any other obligation in priority to payment of its general creditors; (c) acquire, or agree or have an option to acquire, any property or assets upon conditional sale or other title retention or purchase money security agreement, device or arrangement; (d) suffer to exist for a period of more than thirty (30) days after the same shall have been incurred any Debt Indebted- ness or claim or demand against it that if unpaid might by law or upon bankruptcy or insolvency, or otherwise, be given any priority whatsoever over its general creditors; or (e) sell, assign, pledge or otherwise transfer any accounts, contract rights, general intangibles, chattel paper or instruments, with or without recourse (the foregoing items (a) through (e) being sometimes referred to in this Section 10.2 collectively as "Liens"), recourse; provided that each of the Obligors Parties and any Subsidiary of any of the Parties may create or incur or suffer to be credited created or incurred or to exist:
Appears in 1 contract
Restrictions on Liens, Etc. The Obligors Borrower will not, and will not permit any Subsidiary of its Subsidiaries to: , (a) create or incur or suffer to be created or incurred or to exist any lien, encumbrance, mortgage, pledge, charge, restriction or other security interest of any kind upon any of its property or assets of any character whether now owned or hereafter acquired, or upon the income or profits therefrom; (b) transfer any of such its property or assets or the income or profits therefrom for the purpose of subjecting the same to the payment of Debt Indebtedness or performance of any other obligation in priority to payment of its general creditors; (c) acquire, or agree or have an option to acquire, any property or assets upon conditional sale or other title retention or purchase money security agreement, device or arrangement; (d) suffer to exist for a period of more than thirty (30) days after the same shall have been incurred any Debt Indebtedness or claim or demand against it that if unpaid might by law or upon bankruptcy or insolvency, or otherwise, be given any priority whatsoever over its general creditors; or (e) sell, assign, pledge or otherwise transfer any accounts, contract rights, general intangibles, chattel paper or instruments, with or without recourse (the foregoing items (a) through (e) being sometimes referred to in this Section 10.2 collectively as "Liens"), recourse; provided that the Obligors Borrower and any Subsidiary of the Borrower may create or incur or suffer to be credited created or incurred or to exist:
Appears in 1 contract
Samples: Credit and Term Loan Agreement (Microfluidics International Corp)
Restrictions on Liens, Etc. The Obligors will notExcluding the Expansion Mortgage, and the Borrower will not permit any Subsidiary to: (a) create or incur or suffer to be created or incurred or to exist any lien, encumbrance, mortgage, pledge, charge, charge restriction or other security interest of any kind upon any of its property or assets of any character whether now owned or hereafter acquired, or upon the income or profits therefrom; (b) transfer any of such its property or assets or the income or profits therefrom for the purpose of subjecting the same to the payment of Debt Indebtedness or performance of any other obligation in priority to payment of its general creditors; (c) acquire, acquire or agree or have an option to acquire, any property or assets upon conditional sale or other title retention or purchase money security agreement, device or arrangement; (d) suffer to exist for a period of more than thirty (30) days after the same shall have been incurred any Debt Indebtedness or claim or demand against it that if unpaid might by law or upon bankruptcy or insolvency, or otherwise, be given any priority whatsoever over its general creditors; or (e) sell, assign, pledge or otherwise transfer any accounts, contract rights, general intangibles, chattel paper or instruments, with or without recourse (the foregoing items (a) through (e) being sometimes referred to in this Section 10.2 collectively as "Liens"), recourse; provided that the Obligors and any Subsidiary Borrower may create or incur or suffer to be credited created or incurred or to exist, the following Permitted Liens:
Appears in 1 contract
Samples: Construction Loan and Security Agreement (Griffin Land & Nurseries Inc)
Restrictions on Liens, Etc. The Obligors Borrower will not, and will not permit any Subsidiary of its Subsidiaries to: , (a) create or incur or suffer to be created or incurred or to exist any lien, encumbrance, mortgage, pledge, negative pledge, charge, restriction or other security interest of any kind upon any of its property or assets of any character whether now owned or hereafter acquired, or upon the income or profits therefrom; (b) transfer any of such its property or assets or the income or profits therefrom for the purpose of subjecting the same to the payment of Debt Indebtedness or performance of any other obligation in priority to payment of its general creditors; (c) acquire, or agree or have an option to acquire, any property or assets upon conditional sale or other title retention or purchase money security agreement, device or arrangement; (d) suffer to exist for a period of more than thirty (30) 30 days after the same shall have been incurred any Debt Indebtedness or claim or demand against it that if unpaid might by law or upon bankruptcy or insolvency, or otherwise, be given any priority whatsoever over its general creditors; or (e) sell, assign, pledge or otherwise transfer any accounts, contract rights, general intangibles, chattel paper or instruments, with or without recourse recourse; or (f) incur or maintain any obligation to any holder of Indebtedness of the foregoing items Borrower or such Subsidiary which prohibits the creation or maintenance of any lien securing the Obligations (a) through (e) being sometimes referred to in this Section 10.2 collectively as "Liens"), ; provided that the Obligors Borrower and any Subsidiary of the Borrower owning Collateral may create or incur or suffer to be credited created or incurred or to exist:
Appears in 1 contract
Samples: Revolving Credit Agreement (Wellsford Real Properties Inc)
Restrictions on Liens, Etc. The Obligors REIT and the Borrower will not, and will not permit any Subsidiary of their Subsidiaries or Nominees to: , (a) create or incur or suffer to be created or incurred or to exist any lien, encumbrance, mortgage, pledge, charge, restriction or other security interest of any kind upon any of its property or assets of any character whether now owned or hereafter acquired, or upon the income or profits therefrom; (b) transfer any of such its property or assets or the income or profits therefrom for the purpose of subjecting the same to the payment of Debt Indebtedness or performance of any other obligation in priority to payment of its general creditors; (c) acquire, or agree or have an option to acquire, any property or assets assets. upon conditional sale or other title tide retention or purchase money security agreement, device or arrangement; (d) suffer to exist for a period of more than thirty (30) 30 days after the same shall have been incurred any Debt or claim or demand against it that if unpaid might by law or upon bankruptcy or insolvency, or otherwise, be given any priority whatsoever over its general creditors; or (e) sell, assign, pledge or otherwise transfer any accounts, contract rights, general intangibles, chattel paper or instruments, with or without recourse recourse; or (f) incur or maintain any obligation to any holder of Indebtedness of the foregoing items (a) through (e) being sometimes referred to in this Section 10.2 collectively as "Liens"), REIT or the Borrower or such Subsidiary or Nominee which prohibits the creation or maintenance of any lien securing the Obligations; provided that the Obligors REIT, the Borrower and any Subsidiary or Nominee may create or incur or suffer to be credited created or incurred or to exist:
Appears in 1 contract
Samples: Revolving Credit Agreement (Berkshire Realty Co Inc /De)
Restrictions on Liens, Etc. The Obligors Borrower will not, and will not permit any Subsidiary of its Subsidiaries to: , (a) create or incur or suffer to be created or incurred or to exist any lien, encumbrance, mortgage, pledge, charge, restriction or other security interest of any kind upon any of its property or assets of any character whether now owned or hereafter acquired, or upon the income or profits therefrom; (b) transfer any of such its property or assets or the income or profits therefrom for the purpose of subjecting the same to the payment of Debt Indebtedness or performance of any other obligation in priority to payment of its general creditors; (c) acquire, or agree or have an option to acquire, any property or assets upon conditional sale or other title retention or purchase money security agreement, device or arrangement; (d) suffer to exist for a period of more than thirty (30) 30 days after the same shall have been incurred any Debt Indebtedness or claim or demand against it that if unpaid might by law or upon bankruptcy or insolvency, or otherwise, be given any priority whatsoever over its general creditors; or (e) sell, assign, pledge or otherwise transfer any accounts, contract rights, general intangibles, chattel paper or instruments, with or without recourse (the foregoing items (a) through (e) being sometimes referred to in this Section 10.2 collectively as "Liens"); PROVIDED that, provided that the Obligors Borrower and any Subsidiary of the Borrower may create or incur or suffer to be credited created or incurred or to exist:
Appears in 1 contract
Samples: Revolving Credit Agreement (Meridian Industrial Trust Inc)
Restrictions on Liens, Etc. The Obligors will not, and Borrower will not permit any Subsidiary to: (a) create or incur or suffer to be created or incurred or to exist any lien, security title, encumbrance, mortgage, pledge, negative pledge, charge, restriction or other security interest of any kind upon any of its property or assets of any character whether now owned or hereafter acquired, or upon the income or profits therefrom; (b) transfer any of such its property or assets or the income or profits therefrom for the purpose of subjecting the same to the payment of Debt Indebtedness or performance of any other obligation in priority to payment of its general creditors; (c) acquire, or agree or have an option to acquire, any property or assets upon conditional sale or other title retention or purchase money security agreement, device or arrangement; (d) suffer to exist for a period of more than thirty (30) days after the same shall have been incurred any Debt Indebtedness or claim or demand against it any of them that if unpaid might could by law or upon bankruptcy or insolvency, or otherwise, be given any priority whatsoever over its any of their general creditors; or (e) sell, assign, pledge or otherwise transfer any accounts, contract rights, general intangibles, chattel paper or instruments, with or without recourse recourse; or (f) incur or maintain any obligation to any holder of Indebtedness which prohibits the foregoing items creation or maintenance of any lien securing the Obligations (a) through (e) being sometimes referred to in this Section 10.2 collectively as "collectively, “Liens"”), ; provided that notwithstanding anything to the Obligors and any Subsidiary contrary contained herein, Borrower may create or incur or suffer to be credited created or incurred or to exist:
Appears in 1 contract
Restrictions on Liens, Etc. The Obligors will not, and Borrower will not permit any Subsidiary to: (a) create or incur or suffer to be created or incurred or to exist any lien, encumbrance, mortgage, pledge, charge, charge restriction or other security interest of any kind upon any of its property or assets of any character whether now owned or hereafter acquired, or upon the income or profits therefrom; (b) transfer any of such its property or assets or the income or profits therefrom for the purpose of subjecting the same to the payment of Debt Indebtedness or performance of any other obligation in priority to payment of its general creditors; (c) acquire, acquire or agree or have an option to acquire, any property or assets upon conditional sale or other title retention or purchase money security agreement, device or arrangement; (d) suffer to exist for a period of more than thirty (30) days after the same shall have been incurred any Debt Indebtedness or claim or demand against it that if unpaid might by law or upon bankruptcy or insolvency, or otherwise, be given any priority whatsoever over its general creditors; or (e) sell, assign, pledge or otherwise transfer any accounts, contract rights, general intangibles, chattel paper or instruments, with or without recourse (the foregoing items (a) through (e) being sometimes referred to in this Section 10.2 collectively as "Liens"), recourse; provided that the Obligors and any Subsidiary Borrower may create or incur or suffer to be credited created or incurred or to exist, the following Permitted Liens:
Appears in 1 contract
Samples: Loan and Security Agreement (Griffin Industrial Realty, Inc.)
Restrictions on Liens, Etc. The Obligors will not, and Realty Company will not permit any Subsidiary to: (a) create or incur or suffer to be created or incurred or to exist any lien, encumbrance, mortgage, pledge, charge, restriction or other security interest of any kind upon any of its property or assets of any character whether now owned or hereafter acquired, or upon the income or profits therefrom; (b) transfer any of such its property or assets or the income or profits therefrom for the purpose of subjecting the same to the payment of Debt Indebtedness or performance of any other obligation in priority to payment of its general creditors; (c) acquire, or agree or have an option to acquire, any property or assets upon conditional sale or other title retention or purchase money security agreement, device or arrangement; (d) suffer to exist for a period of more than thirty (30) days after the same shall have been incurred any Debt Indebtedness or claim or demand against it that if unpaid might by law or upon bankruptcy or insolvency, or otherwise, be given any priority whatsoever over its general creditors; or (e) sell, assign, pledge or otherwise transfer any accounts, contract rights, general intangibles, chattel paper or instruments, with or without recourse (the foregoing items (a) through (e) being sometimes referred to in this Section 10.2 collectively as collectively, "Liens"), ; provided that the Obligors and any Subsidiary Realty Company may create or incur or suffer to be credited created or incurred or to exist:
Appears in 1 contract
Samples: Loan Agreement (Grossmans Inc)
Restrictions on Liens, Etc. The Obligors will not, and Borrowers will not permit any Subsidiary to: (a) create or incur or suffer to be created or incurred or to exist any lien, security title, encumbrance, mortgage, pledge, negative pledge (aside from any negative pledge in relation to the Revolver Loans) charge, restriction or other security interest of any kind upon any of its their respective property or assets of any character whether now owned or hereafter acquired, or upon the income or profits therefrom; (b) transfer any of such their property or assets or the income or profits therefrom for the purpose of subjecting the same to the payment of Debt Indebtedness or performance of any other obligation in priority to payment of its general creditors; (c) acquire, or agree or have an option to acquire, any property or assets upon conditional sale or other title retention or purchase money security agreement, device or arrangement; (d) suffer to exist for a period of more than thirty (30) days after the same shall have been incurred any Debt Indebtedness or claim or demand against it any of them that if unpaid might could by law or upon bankruptcy or insolvency, or otherwise, be given any priority whatsoever over its any of their general creditors; or (ed) sell, assign, pledge or otherwise transfer any accounts, contract rights, general intangibles, chattel paper or instruments, with or without recourse (the foregoing items (a) through recourse; or (e) being sometimes referred incur or maintain any obligation to in this Section 10.2 collectively as "any holder of Indebtedness of any of such Persons which prohibits the creation or maintenance of any lien securing the Obligations (collectively, “Liens"”), ; provided that notwithstanding anything to the Obligors and any Subsidiary contrary contained herein, Borrowers may create or incur or suffer to be credited created or incurred or to exist:
Appears in 1 contract
Restrictions on Liens, Etc. The Obligors Borrower will not, and will not --------------------------- permit any Subsidiary of its Subsidiaries to: , (a) create or incur or suffer to be created or incurred or to exist any lien, encumbrance, mortgage, pledge, charge, restriction or other security interest of any kind upon any of its property or assets of any character whether now owned or hereafter acquired, or upon the income or profits therefrom; (b) transfer any of such its property or assets or the income or profits therefrom for the purpose of subjecting the same to the payment of Debt Indebtedness or performance of any other obligation in priority to payment of its general creditors; (c) acquire, or agree or have an option to acquire, any property or assets upon conditional sale or other title retention or purchase money security agreement, device or arrangement; (d) suffer to exist for a period of more than thirty (30) days after the same shall have been incurred any Debt Indebtedness or claim or demand against it that if unpaid might by law or upon bankruptcy or insolvency, or otherwise, be given any priority whatsoever over its general creditors; or (e) sell, assign, pledge or otherwise transfer any accounts, contract rights, general intangibles, chattel paper or instruments, with or without recourse (the foregoing items (a) through (e) being sometimes referred to in this Section 10.2 collectively as "Liens"), recourse; provided that the Obligors Borrower and any -------- Subsidiary of the Borrower may create or incur or suffer to be credited created or incurred or to exist:
Appears in 1 contract
Restrictions on Liens, Etc. The Obligors will not, and Borrower will not permit any Subsidiary to: (a) create or incur or suffer to be created or incurred or to exist any lien, encumbrance, mortgage, pledge, charge, restriction or other security interest of any kind upon any of its property or assets of any character whether now owned or hereafter acquired, or upon the income or profits therefromtherefrom or, directly or indirectly, upon any of the beneficial or legal interests in Borrower; (b) transfer any of such its property or assets or the income or profits therefrom for the purpose of subjecting the same to the payment of Debt Indebtedness or performance of any other obligation in priority to payment of its general creditorscreditors or except in connection with a Permitted Transfer under Section 11.7 hereof, permit to occur any change in the ownership and/or control of beneficial or legal interests in Borrower from that represented on Schedule 2 hereof; (c) acquire, or agree or have an option to acquire, any property or assets upon conditional sale or other title retention or purchase money security agreement, device or arrangement; (d) suffer to exist for a period of more than thirty (30) days after the same shall have been incurred any Debt Indebtedness or claim or demand against it that if unpaid might by law or upon bankruptcy or insolvency, or otherwise, be given any priority whatsoever over its general creditors; or (e) sell, assign, pledge or otherwise transfer any accounts, contract rights, general intangibles, chattel paper or instruments, with or without recourse (the foregoing items (a) through (e) being sometimes referred to in this Section 10.2 collectively as "Liens"), recourse; provided that the Obligors and any Subsidiary Borrower may create or incur or suffer to be credited created or incurred or to exist:
Appears in 1 contract
Samples: Acquisition and Construction Loan Agreement (Praecis Pharmaceuticals Inc)
Restrictions on Liens, Etc. The Obligors Borrower will not, and will not permit any Subsidiary its Subsidiaries to: , (a) create or incur or suffer to be created or incurred or to exist any lien, encumbrance, mortgage, pledge, negative pledge, charge, restriction or other security interest of any kind upon any of its property or assets of any character whether now owned or hereafter acquired, or upon the income or profits therefrom; (b) transfer any of such its property or assets or the income or profits therefrom for the purpose of subjecting the same to the payment of Debt Indebtedness or performance of any other obligation in priority to payment of its general creditors; (c) acquire, or agree or have an option to acquire, any property or assets upon conditional sale or other title retention or purchase money security agreement, device or arrangement; (d) suffer to exist for a period of more than thirty (30) 30 days after the same shall have been incurred any Debt Indebtedness or claim or demand against it that if unpaid might by law or upon bankruptcy or insolvency, or otherwise, be given any priority whatsoever over its general creditors, subject to Borrower's rights pursuant to Section 7.8; or (e) sell, assign, pledge or otherwise transfer encumber any accounts, contract rights, general intangibles, chattel paper or instruments, with or without recourse recourse; or (f) incur or maintain any obligation to any holder of Indebtedness of the foregoing items Borrower or such Subsidiary which prohibits the creation or maintenance of any lien securing the Obligations (a) through (e) being sometimes referred to in this Section 10.2 collectively as "Liens"), provided ; PROVIDED that the Obligors Borrower and any Subsidiary of the Borrower may create or incur or suffer to be credited created or incurred or to exist:
Appears in 1 contract
Restrictions on Liens, Etc. The Obligors will not, and Borrower will not permit any Subsidiary to: (a) create or incur or suffer to be created or incurred or to exist any lien, security title, encumbrance, mortgage, pledge, negative pledge, charge, restriction or other security interest of any kind upon any of its property or assets of any character whether now owned or hereafter acquired, or upon the income or profits therefrom; (b) transfer any of such its property or assets or the income or profits therefrom for the purpose of subjecting the same to the payment of Debt Indebtedness or performance of any other obligation in priority to payment of its general creditors; (c) acquire, or agree or have an option to acquire, any property or assets upon conditional sale or other title retention or purchase money security agreement, device or arrangement; (d) suffer to exist for a period of more than thirty (30) days after the same shall have been incurred any Debt Indebtedness or claim or demand against it Borrower that if unpaid might could by law or upon bankruptcy or insolvency, or otherwise, be given any priority whatsoever over its any of their general creditors; or (e) sell, assign, pledge or otherwise transfer any accounts, contract rights, general intangibles, chattel paper or instruments, with or without recourse recourse; or (f) incur or maintain any obligation to any holder of Indebtedness which prohibits the foregoing items creation or maintenance of any lien securing the Obligations (a) through (e) being sometimes referred to in this Section 10.2 collectively as "collectively, “Liens"”), ; provided that notwithstanding anything to the Obligors and any Subsidiary contrary contained herein, Borrower may create or incur or suffer to be credited created or incurred or to exist:
Appears in 1 contract
Restrictions on Liens, Etc. The Obligors will notNone of the Borrower, any Guarantor, any Operating Subsidiary and will not permit any wholly-owned Subsidiary towill: (a) create or incur or suffer to be created or incurred or to exist any lien, encumbrance, mortgage, pledge, negative pledge, charge, restriction or other security interest of any kind upon any of its property or assets of any character whether now owned or hereafter acquired, or upon the income or profits therefrom; (b) transfer any of such property or assets or the income or profits therefrom for the purpose of subjecting the same to the payment of Debt Indebtedness or performance of any other obligation in priority to payment of its general creditors; (c) acquire, or agree or have an option to acquire, any property or assets upon conditional sale or other title retention or purchase money security agreement, device or arrangement; (d) suffer to exist for a period of more than thirty (30) days after the same shall have been incurred any Debt Indebtedness or claim or demand against it that if unpaid might by law or upon bankruptcy or insolvency, or otherwise, be given any priority whatsoever over its general creditors; or (e) sell, assign, pledge or otherwise transfer any accounts, contract rights, general intangibles, chattel paper or instruments, with or without recourse (the foregoing items (a) through (e) being sometimes referred to in this Section 10.2 8.2 collectively as "LiensLIENS"), provided PROVIDED that the Obligors Borrower, the Guarantors and any Subsidiary may create or incur or suffer to be credited created or incurred or to exist:
Appears in 1 contract
Restrictions on Liens, Etc. The Obligors will notNone of the Borrower, any Guarantor, any Operating Subsidiary and will not permit any wholly-owned Subsidiary towill: (a) create or incur or suffer to be created or incurred or to exist any lien, encumbrance, mortgage, pledge, negative pledge, charge, restriction or other security interest of any kind upon any of its property or assets of any character whether now owned or hereafter acquired, or upon the income or profits therefrom; (b) transfer any of such property or assets or the income or profits therefrom for the purpose of subjecting the same to the payment of Debt Indebtedness or performance of any other obligation in priority to payment of its general creditors; (c) acquire, or agree or have an option to acquire, any property or assets upon conditional sale or other title retention or purchase money security agreement, device or arrangement; (d) suffer to exist for a period of more than thirty (30) days after the same shall have been incurred any Debt Indebtedness or claim or demand against it that if unpaid might by law or upon bankruptcy or insolvency, or otherwise, be given any priority whatsoever over its general creditors; or (e) sell, assign, pledge or otherwise transfer any accounts, contract rights, general intangibles, chattel paper or instruments, with or without recourse (the foregoing items (a) through (e) being sometimes referred to in this Section 10.2 ss.8.2 collectively as "Liens"), provided that the Obligors Borrower, the Guarantors and any Subsidiary may create or incur or suffer to be credited created or incurred or to exist:
Appears in 1 contract
Restrictions on Liens, Etc. The Obligors Borrowers will not, and will not permit any Subsidiary of theiR Subsidiaries to: , (a) create or incur or suffer to be created or incurred or to exist any lien, encumbrance, mortgage, pledge, charge, restriction or other security interest of any kind upon any of its their property or assets of any character whether now owned or hereafter acquired, or upon the income or profits therefrom; (b) transfer any of such their property or assets or the income or profits therefrom for the purpose of subjecting the same to the payment of Debt Indebtedness or performance of any other obligation in priority to payment of its general creditors; (c) acquire, or agree or have an option to acquire, any property or assets upon conditional sale or other title retention or purchase money security agreement, device or arrangement; (d) suffer to exist for a period of more than thirty (30) days after the same shall have been incurred any Debt Indebtedness or claim or demand against it that if unpaid might by law or upon bankruptcy or insolvency, or otherwise, be given any priority whatsoever over its their general creditors; or (e) sell, assign, pledge or otherwise transfer any accounts, contract rights, general intangibles, chattel paper or instruments, with or without recourse (the foregoing items (a) through (e) being sometimes referred to in this Section 10.2 collectively as "Liens"), recourse; provided that the Obligors Borrowers and any Subsidiary of the Borrowers may create or incur or suffer to be credited created or incurred or to exist:
Appears in 1 contract
Restrictions on Liens, Etc. The Obligors will notExcept in connection with Borrower’s origination, sale and will refinancing from time to time of Mortgage Loans and related assets in the ordinary course of business as intended to be conducted on the Closing Date, Borrower shall not permit any Subsidiary to: (a) create or incur or suffer to be created or incurred or to exist any lien, encumbrance, mortgage, pledge, charge, restriction or other security interest Lien of any kind upon any of its property or assets of any character whether now owned or hereafter acquired, or upon the income or profits therefrom; (b) except in the ordinary course, transfer any of such its property or assets or the income or profits therefrom for the purpose of subjecting the same to the payment of Debt Indebtedness or performance of any other obligation in priority to payment of its general creditors; (c) acquire, or agree or have an option to acquire, any property or assets upon conditional sale or other title retention or purchase money security agreement, device or arrangement; (d) suffer to exist for a period of more than thirty (30) days after the same shall have been incurred any Debt Indebtedness or claim or demand against it it, other than Indebtedness to Administrative Agent and Lenders arising hereunder or the other Loan Documents, that if unpaid might by law or upon bankruptcy or insolvency, or otherwise, be given any priority whatsoever over its general creditors; or (e) sell, assign, pledge or otherwise transfer any accounts, contract rights, general intangibles, chattel paper paper, instruments or instrumentsother assets, with or without recourse (the foregoing items (a) through (e) being sometimes referred to in this Section 10.2 collectively as "Liens")recourse; provided, provided however, that the Obligors and any Subsidiary Borrower may create or incur or suffer to be credited created or incurred or to exist:
Appears in 1 contract
Samples: Warehousing Credit and Security Agreement (Walker & Dunlop, Inc.)
Restrictions on Liens, Etc. The Obligors will not, and Borrower will not permit any Subsidiary to: (a) create or incur or suffer to be created or incurred or to exist any lien, security title, encumbrance, mortgage, pledge, negative pledge, charge, restriction or other security interest of any kind upon any of its property or assets of any character whether now owned or hereafter acquired, or upon the income or profits therefrom; (b) transfer any of such its property or assets or the income or profits therefrom for the purpose of subjecting the same to the payment of Debt Indebtedness or performance of any other obligation in priority to payment of its general creditors; (c) acquire, or agree or have an option to acquire, any property or assets upon conditional sale or other title retention or purchase money security agreement, device or arrangement; (d) suffer to exist for a period of more than thirty (30) days after the same shall have been incurred any Debt Indebtedness or claim or demand against it that if unpaid might by law or upon bankruptcy or insolvency, or otherwise, be given any priority whatsoever over any of its general creditors; or (e) sell, assign, pledge or otherwise transfer any accounts, contract rights, general intangibles, chattel paper or instruments, with or without recourse (the foregoing items (a) through provided that this clause (e) being sometimes referred shall not prohibit a true sale of a land option or development agreement); or (f) incur or maintain any obligation to in this Section 10.2 collectively as any holder of Indebtedness of Borrower which prohibits the creation or maintenance of any lien securing the Obligations (collectively, "LiensLIENS"), provided ; PROVIDED that the Obligors and any Subsidiary Borrower may create or incur or suffer to be credited created or incurred or to exist:
Appears in 1 contract
Samples: Master Credit Agreement (Entertainment Properties Trust)
Restrictions on Liens, Etc. The Obligors Bond Issuer and Highlands will not, and will not permit any Subsidiary of their respective Subsidiaries to: , (ai) create or incur or suffer to be created or incurred or to exist any lien, encumbrance, mortgage, pledge, charge, restriction or other security interest of any kind upon any of its property or assets of any character whether now owned or hereafter acquired, or upon the income or profits therefrom; (bii) transfer any of such its property or assets or the income or profits therefrom for the purpose of subjecting the same to the payment of Debt Indebtedness or performance of any other obligation in priority to payment of its general creditors; (ciii) acquire, or agree or have an option to acquire, any property or assets upon conditional sale or other title retention or purchase money security agreement, device or arrangement; (div) suffer to exist for a period of more than thirty (30) 30 days after the same shall have been incurred any Debt Indebtedness or claim or demand against it that if unpaid might by law or upon bankruptcy or insolvency, or otherwise, be given any priority whatsoever over its general creditors; or (ev) sell, assign, pledge or otherwise transfer any accounts, contract rights, general intangibles, chattel paper or instruments, with or without recourse recourse; or (vi) incur or maintain any obligation to any holder of Indebtedness of any Account Party or such Subsidiary which prohibits the foregoing items creation or maintenance of any lien securing the obligations thereof (a) through (e) being sometimes referred to in this Section 10.2 collectively as "Liens"); provided that, provided that the Obligors Account Parties and any Subsidiary thereof may create or incur or suffer to be credited created or incurred or to exist:
Appears in 1 contract
Samples: Credit Reimbursement Agreement (Wellsford Real Properties Inc)
Restrictions on Liens, Etc. The Obligors will not, and Borrower will not permit any Subsidiary to: (a) create or -------------------------- incur or suffer allow to be created or incurred or to exist any lien, encumbrance, mortgage, pledge, charge, restriction or other security interest of any kind upon any of its property or assets of any character whether now owned or hereafter acquiredthe Property, or upon the income or profits therefrom; (b) transfer any of such property the Property or assets or the income or profits therefrom thereof for the purpose of subjecting the same to the payment of Debt indebtedness or performance of any other obligation in priority to payment of its general creditors; (c) acquire, or agree or have an option to acquire, any property or assets related to the Property upon conditional sale or other title retention or purchase money security agreement, device or arrangement; (d) suffer allow to exist for a period of more than thirty (30) days after the same shall have been incurred any Debt indebtedness or claim or demand against it that if unpaid might by law or upon bankruptcy or insolvency, or otherwise, be given any priority whatsoever over its general creditors; or (e) sell, assign, pledge or otherwise transfer any accounts, contract rights, general intangibles, chattel paper or instrumentsinstruments related to the Property, with or without recourse (the foregoing items (a) through (e) being sometimes referred to in this Section 10.2 collectively as "Liens"), recourse; provided that the Obligors and any Subsidiary Borrower -------- may create or incur or suffer allow to be credited created or incurred or to exist:exist the following (hereinafter referred to as "Permitted Liens"):
Appears in 1 contract
Samples: Loan Agreement (Jameson Inns Inc)
Restrictions on Liens, Etc. The Obligors will not, and will not permit any Subsidiary to: (a) create or incur or suffer to be created or incurred or to exist any lien, encumbrance, mortgage, pledge, charge, restriction or other security interest of any kind upon any of its property or assets of any character whether now owned or hereafter acquired, or upon the income or profits therefrom; (b) transfer any of such property or assets or the income or profits therefrom for the purpose of subjecting the same to the payment of Debt or performance of any other obligation in priority to payment of its general creditors; (c) acquire, or agree or have an option to acquire, any property or assets upon conditional sale or other title retention or purchase money security agreement, device or arrangement; (d) suffer to exist for a period of more than thirty (30) days after the same shall have been incurred any Debt or claim or demand against it that if unpaid might by law or upon bankruptcy or insolvency, or otherwise, be given any priority whatsoever over its general creditors; or (e) sell, assign, pledge or otherwise transfer any accounts, contract rights, general intangibles, chattel paper or instruments, with or without recourse (the foregoing items (a) through (e) being sometimes referred to in this Section 10.2 collectively as "“Liens"”), provided that the Obligors and any Subsidiary may create or incur or suffer to be credited or incurred to exist:
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Restrictions on Liens, Etc. The Obligors will not, and will not permit any Subsidiary of their Subsidiaries to: , (a) create or incur or suffer to be created or incurred or to exist any lien, encumbrance, mortgage, pledge, charge, restriction or other security interest of any kind upon any of its their property or assets of any character whether now owned or hereafter acquired, or upon the income or profits therefrom; (b) transfer any of such their property or assets or the income or profits therefrom for the purpose of subjecting the same to the payment of Debt Indebtedness or performance of any other obligation in priority to payment of its general creditors; (c) acquire, or agree or have an option to acquire, any property or assets upon conditional sale or other title retention or purchase money security agreement, device or arrangement; (d) suffer to exist for a period of more than thirty sixty (3060) days after the same shall have been incurred any Debt Indebtedness or claim or demand against it them that if unpaid might by law or upon bankruptcy or insolvency, or otherwise, be given any priority whatsoever over its general creditors; or (e) sell, assign, pledge or otherwise transfer any accounts, contract rights, general intangibles, chattel paper or instruments, with or without recourse (the foregoing items (a) through (e) being sometimes referred to in this Section 10.2 collectively as "Liens"), recourse; provided that the Obligors and any Subsidiary of the Obligors may create or incur or suffer to be credited created or incurred or to exist:exist the following (collectively, the "Permitted Liens"):
Appears in 1 contract
Samples: Revolving Credit Agreement (Sunglass Hut International Inc)
Restrictions on Liens, Etc. The Obligors will notWithout limiting the terms of Section 8.1, and the Borrower will not permit any Subsidiary to: (a) create or incur or suffer to be created or incurred or to exist any lien, encumbrance, mortgage, pledge, negative pledge, charge, restriction or other security interest of any kind upon any of its property or assets of any character whether now owned or hereafter acquired, or upon the income or profits therefrom; (b) transfer any of such its property or assets or the income or profits therefrom for the purpose of subjecting the same to the payment of Debt Indebtedness or performance of any other obligation in priority to payment of its general creditors; (c) acquire, or agree or have an option to acquire, any property or assets upon conditional sale or other title retention or purchase money security agreement, device or arrangement; (d) suffer to exist for a period of more than thirty (30) 30 days after the same shall have been incurred any Debt Indebtedness or claim or demand against it that if unpaid might by law or upon bankruptcy or insolvency, or otherwise, be given any priority whatsoever over its general creditors; or (e) sell, assign, pledge or otherwise transfer any accounts, contract rights, general intangibles, chattel paper or instruments, with or without recourse recourse; or (f) incur or maintain any obligation to any holder of Indebtedness of the foregoing items Borrower which prohibits the creation or maintenance of any lien securing the Obligations (a) through (e) being sometimes referred to in this Section 10.2 collectively as "Liens"), ; provided that the Obligors and any Subsidiary Borrower may create or incur or suffer to be credited created or incurred or to exist:
Appears in 1 contract
Samples: Term Loan Agreement (Wellsford Real Properties Inc)
Restrictions on Liens, Etc. The Obligors No Obligor will not, and will not permit any Subsidiary to: (a) create or incur or suffer to be created or incurred or to exist any lien, encumbrance, mortgage, pledge, charge, restriction or other security interest of any kind upon any of its property or assets of any character whether now owned or hereafter acquired, or upon the income or profits therefrom; (b) transfer any of such its property or assets or the income or profits therefrom for the purpose of subjecting the same to the payment of Debt Indebtedness or performance of any other obligation in priority to payment of its general creditors; (c) acquire, or agree or have an option to acquire, any property or assets upon conditional sale or other title retention or purchase money security agreement, device or arrangement; (d) suffer to exist for a period of more than thirty (30) days after the same shall have been incurred any Debt Indebtedness or claim or demand against it that if unpaid might by law or upon bankruptcy or insolvency, or otherwise, be given any priority whatsoever over its general creditors; or (e) selle)sell, assign, pledge or otherwise transfer any accounts, contract rights, general intangibles, chattel paper or instruments, with or without recourse (the foregoing items (a) through (e) being sometimes referred to in this Section 10.2 collectively as "Liens"), recourse; provided that the Obligors and any Subsidiary Obligor may create or incur or suffer to be credited created or incurred or to exist:
Appears in 1 contract
Restrictions on Liens, Etc. The Obligors Borrower will not, and will not permit any Subsidiary to: its Subsidiaries to (a) create or incur or suffer to be created or incurred or to exist any lien, security title, encumbrance, mortgage, pledge, negative pledge, charge, restriction or other security interest of any kind upon any of its their respective property or assets of any character whether now owned or hereafter acquired, or upon the income or profits therefrom; (b) transfer any of such their property or assets or the income or profits therefrom for the purpose of subjecting the same to the payment of Debt Indebtedness or performance of any other obligation in priority to payment of its general creditors; (c) acquire, or agree or have an option to acquire, acquire any property or assets upon conditional sale or other title retention or purchase money security agreement, device or arrangement; (d) suffer to exist for a period of more than thirty (30) days after the same shall have been incurred any Debt Indebtedness or claim or demand against it any of them that if unpaid might could by law or upon bankruptcy or insolvency, or otherwise, be given any priority whatsoever over its any of their general creditors; or (e) sell, assign, pledge or otherwise transfer any accounts, contract rights, general intangibles, chattel paper or instruments, with or without recourse recourse; or (f) incur or maintain any obligation to any holder of Indebtedness of any of such Persons which prohibits the foregoing items creation or maintenance of any lien securing the Obligations (a) through (e) being sometimes referred to in this Section 10.2 collectively as "collectively, “Liens"”), ; provided that notwithstanding anything to the Obligors contrary contained herein, the Borrower and any such Subsidiary may create or incur or suffer to be credited created or incurred or to exist:
Appears in 1 contract
Samples: Senior Secured Term Loan Agreement (Cogdell Spencer Inc.)
Restrictions on Liens, Etc. The Obligors will not, and Borrowers will not permit any Subsidiary to: (a) create or incur or suffer to be created or incurred or to exist any lien, security title, encumbrance, mortgage, pledge, negative pledge, charge, restriction or other security interest of any kind upon any of its their respective property or assets of any character whether now owned or hereafter acquired, or upon the income or profits therefrom; (b) transfer any of such their property or assets or the income or profits therefrom for the purpose of subjecting the same to the payment of Debt Indebtedness or performance of any other obligation in priority to payment of its general creditors; (c) acquire, or agree or have an option to acquire, any property or assets upon conditional sale or other title retention or purchase money security agreement, device or arrangement; (d) suffer to exist for a period of more than thirty sixty (3060) days after the same shall have been incurred any Debt Indebtedness or claim or demand against it any of them that if unpaid might could by law or upon bankruptcy or insolvency, or otherwise, be given any priority whatsoever over its any of their general creditors; or (e) sell, assign, pledge or otherwise transfer any accounts, contract rights, general intangibles, chattel paper or instruments, with or without recourse recourse; or (f) incur or maintain any obligation to any holder of Indebtedness of any of such Persons which prohibits the foregoing items creation or maintenance of any lien securing the Obligations (a) through (e) being sometimes referred to in this Section 10.2 collectively as "collectively, “Liens"”), ; provided that notwithstanding anything to the Obligors and any Subsidiary contrary contained herein, the Borrowers may create or incur or suffer to be credited created or incurred or to exist:
Appears in 1 contract
Samples: Loan Agreement (Comstock Homebuilding Companies, Inc.)
Restrictions on Liens, Etc. The Obligors Each of the Borrower and the Subsidiary Guarantor will not, not (and will not permit any Subsidiary Spectrum Entity to: ) (a) create or incur or suffer to be created or incurred or to exist any lien, encumbrance, mortgage, pledge, negative pledge, charge, restriction or other security interest of any kind upon any of its property or assets of any character whether now owned or hereafter acquired, or upon the income or profits therefrom; (b) transfer any of such its property or assets or the income or profits therefrom for the purpose of subjecting the same to the payment of Debt Indebtedness or performance of any other obligation in priority to payment of its general creditors; (c) acquire, or agree or have an option to acquire, any property or assets upon conditional sale or other title retention or purchase money security agreement, device or arrangement; (d) suffer to exist for a period of more than thirty (30) 60 days after the same shall have been incurred come due any Debt Indebtedness or claim or demand against it that if unpaid might by law or upon bankruptcy or insolvency, or otherwise, be given any priority whatsoever over its general creditors; or (e) sell, assign, pledge or otherwise transfer encumber any accounts, contract rights, general intangibles, chattel paper or instruments, with or without recourse recourse; or (f) incur or maintain any obligation to any holder of Indebtedness of such Person which prohibits the foregoing items creation or maintenance of any lien securing the Obligations (a) through (e) being sometimes referred to in this Section 10.2 collectively as "Liens"), ; provided that the Obligors Borrower and any the Subsidiary Guarantor may create or incur or suffer to be credited created or incurred or to exist:
Appears in 1 contract
Samples: Revolving Credit Agreement (Crescent Real Estate Equities Co)
Restrictions on Liens, Etc. The Obligors Except as may otherwise be expressly permitted under the terms of the Revolving Credit Facility, the Borrower will not, and will not permit any Subsidiary allow Pledgor to: , (a) create or incur or suffer to be created or incurred or to exist any lien, security title, encumbrance, mortgage, pledge, negative pledge, charge, restriction or other security interest of any kind upon any of its property or assets of any character whether now owned or hereafter acquiredCollateral pledged under the Loan Documents, or upon the income or profits therefrom; (b) transfer any of such property or assets or the income or profits therefrom for the purpose of subjecting the same to the payment of Debt or performance of any other obligation in priority to payment of its general creditors; (c) acquire, or agree or have an option to acquire, any property or assets upon conditional sale or other title retention or purchase money security agreement, device or arrangement, except to the extent expressly permitted under the Revolving Credit Facility; (dc) suffer to exist for a period of more than thirty (30) days after the same shall have been incurred any Debt Indebtedness or claim or demand against it any of them that if unpaid might could by law or upon bankruptcy or insolvency, or otherwise, be given any priority whatsoever as to the Real Estate over its any of their general creditors; or (ed) sell, assign, pledge or otherwise transfer any accounts, contract rights, general intangibles, chattel paper or instruments, with or without recourse (the foregoing items (a) through recourse; or (e) being sometimes referred incur or maintain any obligation to in this Section 10.2 collectively as "any holder of Indebtedness of any of such Persons which prohibits the creation or maintenance of any lien securing the Obligations (collectively, “Liens"”), ; provided that notwithstanding anything to the Obligors contrary contained herein, the Borrower and any Subsidiary the Pledgor may create or incur or suffer to be credited created or incurred or to exist:
Appears in 1 contract
Restrictions on Liens, Etc. The Obligors No Obligor will not, and will not permit any Subsidiary to: (a) create or incur or suffer to be created or incurred or to exist any lien, encumbrance, mortgage, pledge, charge, restriction or other security interest of any kind upon any of its property or assets of any character whether now owned or hereafter acquired, or upon the income or profits therefrom; (b) transfer any of such its property or assets or the income or profits therefrom for the purpose of subjecting the same to the payment of Debt Indebtedness or performance of any other obligation in priority to payment of its general creditors; (c) acquire, or agree or have an option to acquire, any property or assets upon conditional sale or other title retention or purchase money security agreement, device or arrangement; (d) suffer to exist for a period of more than thirty (30) days after the same shall have been incurred any Debt Indebtedness or claim or demand against it that if unpaid might by law or upon bankruptcy or insolvency, or otherwise, be given any priority whatsoever over its general creditors; or (e) sell, assign, pledge or otherwise transfer any accounts, contract rights, general intangibles, chattel paper or instruments, with or without recourse (the foregoing items (a) through (e) being sometimes referred to in this Section 10.2 collectively as "Liens"), recourse; provided that the Obligors and any Subsidiary Obligor may create or incur or suffer to be credited created or incurred or to exist:
Appears in 1 contract
Samples: Revolving Credit Agreement (Dollar Tree Stores Inc)
Restrictions on Liens, Etc. The Obligors Borrower will not, and will not permit any Subsidiary of its Subsidiaries owning Collateral to: , (a) create or incur or suffer to be created or incurred or to exist any lien, encumbrance, mortgage, pledge, negative pledge, charge, restriction or other security interest of any kind upon any of its property or assets of any character whether now owned or hereafter acquired, or upon the income or profits therefrom; (b) transfer any of such its property or assets or the income or profits therefrom for the purpose of subjecting the same to the payment of Debt Indebtedness or performance of any other obligation in priority to payment of its general creditors; (c) acquire, or agree or have an option to acquire, any property or assets upon conditional sale or other title retention or purchase money security agreement, device or arrangement; (d) suffer to exist for a period of more than thirty (30) 30 days after the same shall have been incurred any Debt Indebtedness or claim or demand against it that if unpaid might by law or upon bankruptcy or insolvency, or otherwise, be given any priority whatsoever over its general creditors; or (e) sell, assign, pledge or otherwise transfer any accounts, contract rights, general intangibles, chattel paper or instruments, with or without recourse recourse; or (f) incur or maintain any obligation to any holder of Indebtedness of the foregoing items Borrower or such Subsidiary which prohibits the creation or maintenance of any lien securing the Obligations (a) through (e) being sometimes referred to in this Section 10.2 collectively as "Liens"), ; provided that the Obligors Borrower and any Subsidiary of the Borrower owning Collateral may create or incur or suffer to be credited created or incurred or to exist:
Appears in 1 contract
Samples: Revolving Credit Agreement (Wellsford Real Properties Inc)
Restrictions on Liens, Etc. The Obligors will not, and Borrower will not permit any Subsidiary to: (a) create or incur or suffer to be created or incurred or to exist any lien, security title, encumbrance, mortgage, pledge, charge, restriction or other security interest of any kind upon any of its property or assets of any character whether now owned or hereafter acquired, or upon the income or profits therefrom; (b) transfer any of such its property or assets or the income or profits therefrom for the purpose of subjecting the same to the payment of Debt Indebtedness or performance of any other obligation in priority to payment of its general creditors; (c) acquire, or agree or have an option to acquire, any property or assets upon conditional sale or other title retention or purchase money security agreement, device or arrangement; (d) suffer to exist for a period of more than thirty (30) days after the same shall have been incurred any Debt Indebtedness or claim or demand against it any of them that if unpaid might could by law or upon bankruptcy or insolvency, or otherwise, be given any priority whatsoever over its any of their general creditors; or (e) sellpledge, assign, pledge encumber or otherwise transfer as part of a financing transaction any accounts, contract rights, general intangibles, chattel paper or instruments, with or without recourse (the foregoing items (a) through (e) being sometimes referred to in this Section 10.2 collectively as "collectively, “Liens"”), ; provided that notwithstanding anything to the Obligors and any Subsidiary contrary contained herein, Borrower may create or incur or suffer to be credited created or incurred or to exist:
Appears in 1 contract
Restrictions on Liens, Etc. The Obligors will not, and Borrower will not permit any Subsidiary to: (a) create or incur or suffer to be created or incurred or to exist any lien, security title, encumbrance, mortgage, pledge, negative pledge, charge, restriction or other security interest of any kind upon any of its property or assets of any character whether now owned or hereafter acquired, or upon the income or profits therefrom; (b) transfer any of such its property or assets or the income or profits therefrom for the purpose of subjecting the same to the payment of Debt Indebtedness or performance of any other obligation in priority to payment of its general creditors; (c) acquire, or agree or have an option to acquire, any property or assets upon conditional sale or other title retention or purchase money security agreement, device or arrangement; (d) suffer to exist for a period of more than thirty (30) days after the same shall have been incurred any Debt Indebtedness or claim or demand against it that if unpaid might by law or upon bankruptcy or insolvency, or otherwise, be given any priority whatsoever over any of its general creditors; or (e) sell, assign, pledge or otherwise transfer any accounts, contract rights, general intangibles, chattel paper or instruments, with or without recourse (the foregoing items (a) through provided that this clause (e) being sometimes referred shall not prohibit a true sale of a land option or development agreement); or (f) incur or maintain any obligation to in this Section 10.2 collectively as any holder of Indebtedness of Borrower which prohibits the creation or maintenance of any lien securing the Obligations (collectively, "Liens"), ; provided that the Obligors and any Subsidiary Borrower may create or incur or suffer to be credited created or incurred or to exist:
Appears in 1 contract
Samples: Master Credit Agreement (Entertainment Properties Trust)
