Common use of Restrictions on Liens, Etc Clause in Contracts

Restrictions on Liens, Etc. The Borrower will not, and the Borrower will not permit any Related Company or Controlled Unconsolidated Subsidiary to, (a) create or incur or agree not to 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 assets or properties of any character, or upon the rents, income or profits therefrom; (b) suffer to exist for a period of more than thirty (30) days after the same shall have been incurred any Indebtedness (not permitted by §8.1(c)) 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 (c) sell, assign, pledge or otherwise transfer any rents, issues, profits, accounts, contract rights, general intangibles, chattel paper or instruments relating to any of its assets or properties of any character other than in connection with the sale of the Real Estate to which they pertain as permitted hereunder (collectively, “Liens”); provided that the Borrower may create or incur or suffer to be created or incurred or to exist:

Appears in 2 contracts

Samples: Revolving Credit Agreement (Amerivest Properties Inc), Revolving Credit Agreement (Amerivest Properties Inc)

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Restrictions on Liens, Etc. The Borrower will not, and the Borrower will not permit any Related Company or Controlled Unconsolidated Subsidiary to, (a) create or incur or agree not to create Create or incur or suffer to be created or incurred or to exist any lien, encumbrance, mortgage, pledge, chargeattachment, restriction security interest or other security interest rights of third parties of any kind upon any of its assets the Collateral Properties, whether now owned or properties of any characterhereafter acquired, or upon the rents, income or profits therefrom; (b) 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 in connection with the operation of the Collateral Properties; (c) suffer to exist with respect to the Collateral Properties, any taxes, assessments, governmental charges and claims for labor, materials and supplies for which payment thereof is not being contested or for which payment notwithstanding a period contest is required to be made in accordance with the provisions of more than thirty (30) days after the same shall have §8.9 and has not been incurred any Indebtedness (not permitted by §8.1(c)) 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 creditorstimely made; or (cd) sell, assign, pledge or otherwise transfer for security any rents, issues, profits, accounts, contract rights, general intangibles, chattel paper or instruments instruments, with or without recourse, relating to any of its assets or properties of any character other than the Collateral Properties (the foregoing items (a) through (d) being sometimes referred to in connection with the sale of the Real Estate to which they pertain this §9.2 collectively as permitted hereunder (collectively, “Liens”); , provided that the Borrower may create or incur or suffer to be created or incurred or to exist:

Appears in 1 contract

Samples: Revolving Credit Agreement (First Potomac Realty Trust)

Restrictions on Liens, Etc. The Borrower will not, and the Borrower will not permit any Related Company or Controlled Unconsolidated Subsidiary of its Subsidiaries to, (a) create or incur or agree not to create or incur or suffer to be created or incurred or to exist any lien, security title, encumbrance, mortgage, deed of trust, security deed, pledge, Negative Pledge, charge, restriction or other security interest of any kind upon any of its their respective property or assets or properties of any charactercharacter whether now owned or hereafter acquired, or upon the rents, income or profits therefrom; (b) suffer to exist for a period of more than thirty acquire any property or assets upon conditional sale or other title retention or purchase money security agreement, device or arrangement (30) days after or any financing lease having substantially the same shall have been incurred economic effect as any Indebtedness (not permitted by §8.1(cof the foregoing)) 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 (c) sellpledge, assign, pledge encumber or otherwise transfer as part of a financing any rents, issues, profits, accounts, contract rights, general intangibles, chattel paper or instruments relating instruments, with or without recourse; or (d) in the case of securities, create or incur or suffer to be created or incurred any of its assets purchase option, call or properties of any character other than in connection similar right with the sale of the Real Estate respect to which they pertain as permitted hereunder such securities (collectively, “Liens”); provided that notwithstanding anything to the contrary contained herein, the Borrower or any such Subsidiary may create or incur or suffer to be created or incurred or to exist:

Appears in 1 contract

Samples: Term Credit Agreement (STORE CAPITAL Corp)

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Restrictions on Liens, Etc. The Borrower will not, and the Borrower will not permit any Related Company or Controlled Unconsolidated Subsidiary to, (a) create or incur or agree not to 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 assets or properties of any character, or upon the rents, income or profits therefrom; (b) suffer to exist for a period of more than thirty (30) days after the same shall have been incurred any Indebtedness (not permitted by §8.1(c)) 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 (c) sell, assign, pledge or otherwise transfer any rents, issues, profits, accounts, contract rights, general intangibles, chattel paper or instruments relating to any of its assets or properties of any character other than in connection with the sale of the Real Estate to which they pertain as permitted hereunder (collectively, “Liens”)hereunder; provided that the Borrower may create or incur or suffer to be created or incurred or to exist:

Appears in 1 contract

Samples: Unsecured Revolving Credit Agreement (Amerivest Properties Inc)

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