Liens securing Indebtedness incurred Clause Samples
The "Liens securing Indebtedness incurred" clause defines the conditions under which a borrower is permitted to grant liens—legal claims or security interests—on its assets to secure debt obligations. Typically, this clause outlines the types of indebtedness that may be secured by such liens, any limitations on the amount or priority of the liens, and may specify circumstances where additional liens are allowed, such as refinancing existing debt or acquiring new assets. Its core practical function is to balance the lender's need for collateral with the borrower's operational flexibility, ensuring that the borrower's ability to incur secured debt is regulated to protect the interests of existing creditors and maintain the agreed risk profile.
Liens securing Indebtedness incurred pursuant to clause (1) of Section 10(a)(i) plus in the case of any such Indebtedness that is amended, extended, renewed, restated, refunded, replaced, refinanced, supplemented, modified or otherwise changed which is secured by a Lien permitted under this clause (xvii) or a portion thereof, the aggregate amount of fees, underwriting discounts, accrued and unpaid interest, premiums and other costs and expenses incurred in connection with such amendment, extension, renewal, restatement, refunding, replacement, refinancing, supplement, modification or change;
Liens securing Indebtedness incurred pursuant to clause (1) of the second paragraph under Section 10.10;
Liens securing Indebtedness incurred in connection with acquiring rights to films in the ordinary course of business; provided that (i) the Indebtedness secured by such Liens does not constitute a general obligation of DW Animation or any of its Subsidiaries and that under the terms of such Indebtedness the lender thereof has recourse only to such films and the rights pertaining thereto and, in each case, to the proceeds thereof, (ii) such Liens shall be created substantially simultaneously with the acquisition or production of such films and (iii) such Liens do not at any time encumber any property other than the films being produced or acquired;
Liens securing Indebtedness incurred pursuant to Section 7.2(s).
Liens securing Indebtedness incurred to finance the acquisition of fixed or capital assets, the principal amount of which shall not exceed $250,000 in the aggregate;
Liens securing Indebtedness incurred under Section 6.01(e); provided that (i) such Liens attach concurrently with or within 270 days after the acquisition, construction, repair, replacement or improvement (as applicable) of the property subject to such Liens, (ii) such Liens do not at any time encumber any property other than the property financed by such Indebtedness except for accessions to such property and the proceeds and the products thereof and (iii) with respect to Capital Lease Obligations, such Liens do not at any time extend to or cover any assets (except for accessions to or proceeds of such assets) other than the assets subject to such Capital Lease Obligations; provided, further, that individual financings of equipment provided by one lender may be cross-collateralized to other financings of equipment provided by such lender;
Liens securing Indebtedness incurred pursuant to Sections 6.01(c) and (x), in each case, if any such Liens are on the Collateral and secure debt for borrowed money, subject to an Acceptable Intercreditor Agreement.
Liens securing Indebtedness incurred pursuant to Section 8.1(t), which Liens consist of the pledge of the B▇▇▇▇ 2020 Bonds held by the Borrower or any of it Significant Subsidiaries, including the Target, PELSA and/or PEPASA; and
Liens securing Indebtedness incurred under Sections 6.1(m) and (n), so long as such Indebtedness is, at all times, subject to a Pari Passu Intercreditor Agreement; and (r) non-exclusive licenses granted in the ordinary course of business.