Common use of Total Liens Clause in Contracts

Total Liens. The Borrower shall not directly or indirectly, create, incur, assume or permit to exist any Lien on or with respect to any of the Collateral, whether now owned or hereafter acquired, or any income or profits therefrom, or file or permit the filing of, or permit to remain in effect, any financing statement or other similar notice of any Lien with respect to any of the Collateral, except: a. Permitted Encumbrances; b. Liens granted or permitted pursuant to the Security Documentation; c. Liens on the FF&E and other goods securing Indebtedness to finance the purchase price thereof; provided that (i) such Liens shall extend only to the equipment and other goods so financed and the proceeds thereof, and (ii) such Liens shall not secure Indebtedness in excess of the amounts permitted under Section 6.07(a) hereinabove; and d. Liens described on Schedule 6.08 annexed hereto.

Appears in 1 contract

Samples: Credit Agreement (Monarch Casino & Resort Inc)

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Total Liens. The Borrower shall not directly or indirectly, create, incur, assume or permit to exist any Lien on or with respect to any of the Collateral, whether now owned or hereafter acquired, or any income or profits therefrom, or file or permit the filing of, or permit to remain in effect, any financing statement or other similar notice of any Lien with respect to any of the Collateral, except: a. (a) Permitted Encumbrances; b. (b) Liens granted or permitted pursuant to the Security Documentation; c. (c) Liens on the FF&E and other goods securing Indebtedness to finance the purchase price thereof; provided that (i) such Liens shall extend only to the equipment and other goods so financed and the proceeds thereof, and (ii) such Liens shall not secure Indebtedness in excess of the amounts permitted under Section 6.07(a) hereinabove; and d. and (d) Liens described on Schedule 6.08 annexed hereto.

Appears in 1 contract

Samples: Construction and Reducing Revolving Credit Agreement (Monarch Casino & Resort Inc)

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Total Liens. The Borrower shall not directly or indirectly, create, incur, assume or permit to exist any Lien on or with respect to any of the Collateral, whether now owned or hereafter acquired, or any income or profits therefrom, or file or permit the filing of, or permit to remain in effect, any financing statement or other similar notice of any Lien with respect to any of the Collateral, except: a. (a) Permitted Encumbrances; b. (b) Liens granted or permitted pursuant to the Security Documentation; c. (c) Liens on the FF&E and other goods securing Indebtedness to finance the purchase price thereof; provided that (i) such Liens shall extend only to the equipment and other goods so financed and the proceeds thereof, and (ii) such Liens shall not secure Indebtedness in excess of the amounts permitted under Section 6.07(a) hereinabove; and d. (d) Liens described on Schedule 6.08 annexed hereto.

Appears in 1 contract

Samples: Credit Agreement (Monarch Casino & Resort Inc)

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