Common use of Limitations on Liens Clause in Contracts

Limitations on Liens. The Company will not, and will not permit any of the Restricted Subsidiaries to, create, incur or otherwise cause or suffer to exist or become effective any Liens of any kind (other than Permitted Liens) upon any Property, assets, income or profits of the Company or any Restricted Subsidiary or any shares of stock or debt of any Restricted Subsidiary (whether or not any of the foregoing is now owned or hereafter acquired), unless (i) if such Lien secures Indebtedness which is pari passu in right of payment with the Notes, then the Notes are secured on an equal and ratable basis with the obligations so secured until such time as such obligation is no longer secured by a Lien or (ii) if such Lien secures Indebtedness which is subordinated in right of payment to the Notes, any such Lien shall be subordinated to the Lien granted to the Holders of the Notes in the same collateral as that securing such Lien to the same extent as such subordinated Indebtedness is subordinated to the Notes.

Limitations on Liens. The Company will shall not, and will shall not permit any of the its Restricted Subsidiaries to, create, incur or otherwise cause or suffer to exist or become effective any Liens of any kind (other than Permitted Liens) upon any Property, assets, income or profits Property of the Company or any Restricted Subsidiary or any shares of stock or debt of any Restricted Subsidiary (whether or not any of the foregoing is Subsidiary, now owned or hereafter acquired), which secures Indebtedness pari passu with or subordinated to the Notes unless (i) if such Lien secures Indebtedness which is pari passu in right of payment with the Notes, then the Notes are secured on an equal and ratable basis with the obligations so secured until such time as such obligation is no longer secured by a Lien or (ii) if such Lien secures Indebtedness which is subordinated in right of payment to the Notes, any such Lien shall be subordinated to the a Lien granted to the Holders of the Notes in the same collateral as that securing such Lien to the same extent as such subordinated Indebtedness is subordinated to the Notes.

Limitations on Liens. The Company will shall not, and will shall not permit any of the its Restricted Subsidiaries to, create, incur or otherwise cause or suffer to exist or become effective any Liens of any kind (other than Permitted Liens) upon any Property, assets, income or profits Property of the Company or any Restricted Subsidiary or any shares of stock or debt of any Restricted Subsidiary (whether or not any of the foregoing is Subsidiary, now owned or hereafter acquired), acquired which secures Indebtedness except Permitted Liens unless (i) if such Lien secures Indebtedness which is pari passu in right of payment with the Notes, then the Notes are secured on an equal and ratable basis with the obligations so secured until such time as such obligation is no longer secured by a Lien or (ii) if such Lien secures Indebtedness which is subordinated in right of payment to the Notes, any such Lien shall be subordinated to the a Lien granted to the Holders of the Notes in the same collateral as that securing such Lien to the same extent as such subordinated Indebtedness is subordinated to the Notes.

Limitations on Liens. The Company will shall not, and will shall not permit any of the its Restricted Subsidiaries to, create, incur or otherwise cause or suffer to exist or become effective any Liens of any kind (other than Permitted Liens) upon any Property, assets, income property or profits asset of the Company or any Restricted Subsidiary or any shares of stock or debt of any Restricted Subsidiary (whether which owns property or not any of the foregoing is assets, now owned or hereafter acquired), unless (i) if such Lien secures Indebtedness which is pari passu in right of payment with the Notes, then the Notes are secured on an equal and ratable basis with the obligations so secured until such time as such obligation is no longer secured by a Lien or (ii) if such Lien secures Indebtedness which is subordinated in right of payment to the Notes, any such Lien shall be subordinated to the Lien granted to the Holders of the Notes in the same collateral as that securing such Lien to the same extent as such subordinated Indebtedness is subordinated to the Notes.

Limitations on Liens. The Company will not, and will not permit any of the Restricted Subsidiaries to, create, incur or otherwise cause or suffer to exist or become effective any Liens of any kind (other than Permitted Liens) upon any Property, assets, income or profits Property of the Company or any Restricted Subsidiary or any shares of stock or debt of any Restricted Subsidiary (whether or not any of the foregoing is which owns Property, now owned or hereafter acquired), unless (i) if such Lien secures Indebtedness which is pari passu in right of payment with the Notes, then the Notes are secured on an equal and ratable basis with the obligations so secured until such time as such obligation is no longer secured by a Lien or (ii) if such Lien secures Indebtedness which is subordinated in right of payment to the Notes, any such Lien shall be subordinated to the Lien granted to the Holders of the Notes in the same collateral as that securing such Lien to the same extent as such subordinated Indebtedness is subordinated to the Notes.

Limitations on Liens. The Company will shall not, and will shall not permit any of the its Restricted Subsidiaries to, create, incur or otherwise cause or suffer to exist or become effective any Liens of any kind (other than Permitted Liens) upon any Property, assets, income or profits Property of the Company or any Restricted Subsidiary or any shares of stock or debt of any Restricted Subsidiary (whether or not any of the foregoing is Subsidiary, now owned or hereafter acquired), acquired which secures Indebtedness pari passu with or subordinated to the Notes unless (i) if such Lien secures Indebtedness which is pari passu in right of payment with the 62 Notes, then the Notes are secured on an equal and ratable basis with the obligations so secured until such time as such obligation is no longer secured by a Lien or (ii) if such Lien secures Indebtedness which is subordinated in right of payment to the Notes, any such Lien shall be subordinated to the a Lien granted to the Holders of the Notes in the same collateral as that securing such Lien to the same extent as such subordinated Indebtedness is subordinated to the Notes.

Limitations on Liens. The Company will not, and will Issuers shall not permit any of the Restricted Subsidiaries to, create, incur or otherwise cause or suffer to exist or become effective any Liens of any kind (other than Permitted Liens) upon any Property, assets, income property or profits asset of the Company or any Restricted Subsidiary Issuers or any shares of stock (other than under the Senior Credit Facility) or debt of any Restricted Subsidiary (whether which owns property or not any of the foregoing is assets, now owned or hereafter acquired), unless (i) if such Lien secures Indebtedness which is pari passu in right of payment with the Notes, then the Notes are secured on an equal and ratable basis with the obligations so secured until such time as such obligation is no longer secured by a Lien or (ii) if such Lien secures Indebtedness which is subordinated in right of payment to the Notes, any such Lien shall be subordinated to the Lien granted to the Holders of the Notes in the same collateral as that securing such Lien to the same extent as such subordinated Indebtedness is subordinated to the Notes.

Limitations on Liens. The Company will Issuer shall not, and will shall not permit any of the its Restricted Subsidiaries to, create, incur or otherwise cause or suffer to exist or become effective any Liens of any kind (other than Permitted Liens) upon any Property, assets, income property or profits asset of the Company Issuer or any Restricted Subsidiary or any shares of stock or debt of any Restricted Subsidiary (whether which owns property or not any of the foregoing is assets, now owned or hereafter acquired), which secures Indebtedness pari passu with or subordinated to the Notes unless (i) if such Lien secures Indebtedness which is pari passu in right of payment with the Notes, then the Notes are secured on an equal and ratable basis with the obligations so secured until such time as such obligation is no longer secured by a Lien or (ii) if such Lien secures Indebtedness which is subordinated in right of payment to the Notes, any such Lien shall be subordinated to the Lien granted to the Holders of the Notes in the same collateral as that securing such Lien to the same extent as such subordinated Indebtedness is subordinated to the Notes.

Limitations on Liens. The Company will not, and will not permit any of the Restricted Subsidiaries to, create, incur or otherwise cause or suffer to exist or become effective any Liens of any kind (other than Permitted Liens) upon any Property, assets, income property or profits asset of the Company to secure Indebtedness which is PARI PASSU with or any Restricted Subsidiary or any shares subordinate in right of stock or debt of any Restricted Subsidiary (whether or not any of payment to the foregoing is now owned or hereafter acquired)Notes, unless (i) if such Lien secures Indebtedness which is pari passu in right of payment PARI PASSU with the Notes, then the Notes are secured on an equal and ratable basis with the obligations so secured until such time as such obligation is no longer secured by a Lien or (ii) if such Lien secures Indebtedness which is subordinated in right of payment to the Notes, any such Indebtedness secured by such Lien and such Lien shall be subordinated to the Lien granted to the Holders of the Notes in the same collateral as that securing such Lien to the same extent as such subordinated Indebtedness is subordinated to the Notes.

Limitations on Liens. The Company will shall not, and will shall not permit any of the Restricted its Subsidiaries to, directly or indirectly, create, incur or otherwise cause incur, assume or suffer to exist any Lien that secures obligations under any Pari Passu Indebtedness or become effective subordinated Indebtedness on any Liens of any kind (other than Permitted Liens) upon any Property, assets, income asset or profits of property now owned or hereafter acquired by the Company or any Restricted Subsidiary of its Subsidiaries, or any shares of stock income or debt of profits therefrom, or assign or convey any Restricted Subsidiary (whether or not any of the foregoing is now owned or hereafter acquired)right to receive income therefrom, unless (i) if such Lien secures Indebtedness which is pari passu in right of payment with the Notes, then the Notes or the Subsidiary Guarantees, as applicable, are equally and ratably secured on an equal and ratable basis with the obligations so secured until such time as such obligation is no obligations are not longer secured by a Lien; provided, that in any case involving a Lien or (ii) if securing subordinated Indebtedness, such Lien secures Indebtedness which is subordinated in right of payment to the Notes, any such Lien shall be subordinated to the Lien granted to the Holders of securing the Notes in or the same collateral Subsidiary Guarantees, as that securing such Lien applicable, to the same extent as that such subordinated Indebtedness is subordinated to the NotesNotes or the Subsidiary Guarantees, as applicable.

Limitations on Liens. The Company Issuers will not, and will not permit any of the their Restricted Subsidiaries to, create, incur or otherwise cause or suffer to exist or become effective any Liens of any kind (other than Permitted Liens) upon any Property, assets, income property or profits asset of the Company an Issuer or any of their Restricted Subsidiary Subsidiaries or any shares of stock Capital Stock or debt Indebtedness of any Restricted Subsidiary (whether of an Issuer which owns property or not any of the foregoing is assets, now owned or hereafter acquired), unless (i) if such Lien secures Indebtedness which is pari passu in right of payment with the NotesNotes (without giving effect ---- ----- to the principles of structural subordination), then the Notes are secured on an equal and ratable basis with the obligations so secured until such time as such obligation is no longer secured by a Lien or (ii) if such Lien secures Indebtedness which is subordinated in right to any debt of payment to the Notesa Restricted Subsidiary, any such Lien shall be subordinated to the Lien granted to the Holders holders of the Notes in the same collateral as that securing such Lien to the same extent as such subordinated Indebtedness is subordinated to the Notes.

Limitations on Liens. The Company will shall not, and will shall not permit any of the its Restricted Subsidiaries Group Members to, create, incur or otherwise cause or suffer to exist or become effective any Liens of any kind (other than Permitted Liens) upon any Property, assets, income property or profits asset of the Company or any Restricted Subsidiary Group Member or any shares of stock or debt of any Restricted Subsidiary (whether Group Member which owns property or not any of the foregoing is assets, now owned or hereafter acquired), unless (i) if such Lien secures Indebtedness which is pari passu in right of payment with the Notes, then the Notes are secured on an equal and ratable basis with the obligations so secured until such time as such obligation is no longer secured by a Lien or (ii) if such Lien secures Indebtedness which is subordinated in right of payment to the Notes, any such Lien shall be is subordinated to the Lien granted to the Holders of the Notes in the same collateral as that securing such Lien to the same extent as such subordinated Indebtedness is subordinated to the Notes.

Limitations on Liens. The Company will Issuers shall not, and will shall not permit any of the their Restricted Subsidiaries to, create, incur or otherwise cause or suffer to exist or become effective any Liens of any kind (other than Permitted Liens) upon any Property, assets, income property or profits asset of the Company Issuers or any Restricted Subsidiary or any shares of stock or debt of any Restricted Subsidiary (whether which owns property or not any of the foregoing is assets, now owned or hereafter acquired), unless (i) if such Lien secures Indebtedness which is pari ---- passu in right of payment with the Notes, then the Notes are secured on an equal and ratable basis ----- with the obligations so secured until such time as such obligation is no longer secured by a Lien or (ii) if such Lien secures Indebtedness which is subordinated in right of payment to the Notes, any such Lien shall be subordinated to the Lien granted to the Holders of the Notes in the same collateral as that securing such Lien to the same extent as such subordinated Indebtedness is subordinated to the Notes.

Limitations on Liens. The Company will not, and will not permit any of the its Restricted Subsidiaries to, create, incur or otherwise cause or suffer to exist or become effective any Liens of any kind (other than Permitted Liens) upon any Property, assets, income property or profits asset of the Company or any Restricted Subsidiary or any shares of stock or debt of any Restricted Subsidiary (whether which owns property or not any of the foregoing is assets, now owned or hereafter acquired), in any case which secures Indebtedness pari passu with or ---- ----- subordinated to the Notes unless (i) if such Lien secures Indebtedness which is pari passu in right of payment with the Notes, then the Notes are secured on an equal and ratable ---- ----- basis with the obligations so secured until such time as such obligation is no longer secured by a Lien or (ii) if such Lien secures Indebtedness which is subordinated in right of payment to the Notes, any such Lien shall be subordinated to the Lien granted to the Holders of the Notes in the same collateral as that securing such Lien to the same extent as such subordinated Indebtedness is subordinated to the Notes.

Limitations on Liens. The Company Issuer will not, and will not permit any of the its Restricted Subsidiaries to, create, incur or otherwise cause or suffer to exist or become effective any Liens of any kind (other than Permitted Liens) upon any Property, assets, income property or profits asset of the Company Issuer or any of its Restricted Subsidiary Subsidiaries or any shares of stock Capital Stock or debt Indebtedness of any Restricted Subsidiary (whether or not any of the foregoing is Issuer which owns property or assets, now owned or hereafter acquired), unless (i) if such Lien secures Indebtedness which is pari passu in right of payment with the Notes, then the Notes are secured on an equal and ratable basis with the obligations so secured until such time as such obligation is no longer secured by a Lien or (ii) if such Lien secures Indebtedness which is subordinated in right of payment to the Notes, any such Lien shall will be subordinated to the a Lien granted to the Holders of securing the Notes in the same collateral as that securing such Lien to the same extent as such subordinated Indebtedness is subordinated to the Notes.

Limitations on Liens. The Company will not, and will not permit any of the Restricted Subsidiaries to, create, incur or otherwise cause or suffer to exist or become effective any Liens of any kind (other than Permitted Liens) upon any Property, assets, income or profits Property of the Company or any Restricted Subsidiary or any shares of stock or debt of any Restricted Subsidiary (whether or not any of the foregoing is which owns Property, now owned or hereafter acquired), unless (i) if such Lien secures Indebtedness which is pari passu in right of payment with the Notes, then the Notes are secured on an equal and ratable basis with the obligations so secured until such time as such obligation is no longer secured by a Lien or (ii) if such Lien secures Indebtedness which is subordinated in right of payment to the Notes, any such Lien shall be subordinated to the Lien granted to the Holders of the Notes in on the same collateral as that securing such Lien to the same extent as such subordinated Indebtedness is subordinated to the Notes.. 61 -54-

Limitations on Liens. The Company will not, and will not permit any of the Restricted Subsidiaries to, create, incur or otherwise cause or suffer to exist or become effective any Liens of any kind (other than Permitted Liens) to secure Indebtedness upon any Property, assets, income or profits of the Company or any Restricted Subsidiary or any shares of stock or debt of any Restricted Subsidiary (whether or not any of the foregoing is now owned or hereafter acquired), unless unless: (i) if such Lien secures Indebtedness which is pari passu in right of payment with the Notes, then the Notes are secured on an equal and ratable basis with the obligations so secured until such time as such obligation is no longer secured by a Lien or Lien; or (ii) if such Lien secures Indebtedness which is subordinated in right of payment to the Notes, any such Lien shall be subordinated to the Lien granted to the Holders of the Notes in the same collateral as that securing such Lien to the same extent as such subordinated Indebtedness is subordinated to the Notes.

Limitations on Liens. The Company Issuers will not, and will not permit any of the their Restricted Subsidiaries to, create, incur or otherwise cause or suffer to exist or become effective any Liens of any kind (other than Permitted Liens) upon any Property, assets, income property or profits asset of the Company an Issuer or any of their Restricted Subsidiary Subsidiaries or any shares of stock Capital Stock or debt Indebtedness of any Restricted Subsidiary (whether of an Issuer which owns property or not any of the foregoing is assets, now owned or hereafter acquired), unless (i) if such Lien secures Indebtedness which is pari passu in right of payment with the NotesNotes (without giving effect to the ---- ----- principles of structural subordination), then the Notes are secured on an equal and ratable basis with the obligations so secured until such time as such obligation is no longer secured by a Lien or (ii) if such Lien secures Indebtedness which is subordinated in right to any debt of payment to the Notesa Restricted Subsidiary, any such Lien shall be subordinated to the Lien granted to the Holders holders of the Notes in the same collateral as that securing such Lien to the same extent as such subordinated Indebtedness is subordinated to the Notes.

Limitations on Liens. (A) The Company will not, and will not permit any of the Restricted Subsidiaries Subsidiary to, create, incur or otherwise cause or suffer to exist or become effective any Liens of any kind (other than Permitted Liens) upon any Property, assets, income property or profits asset of the Company or any of the Restricted Subsidiary Subsidiaries or any shares of stock Capital Stock or debt Indebtedness of any Restricted Subsidiary (whether that owns property or not any of the foregoing is assets, now owned or hereafter acquired), unless unless (i1) if such Lien secures Indebtedness which is pari passu in right of payment that ranks equally with the Notes, then the Notes are secured on an equal and ratable basis with the obligations so secured until such time as such obligation is no longer secured by a Lien or or (ii2) if such Lien secures Indebtedness which that is subordinated in right of payment to the Notes, any such Lien shall be subordinated to the Lien granted to the Holders holders of the Notes in the same collateral as that securing such Lien to the same extent as such subordinated Indebtedness is subordinated to the Notes.