Common use of Limitations upon Liens Clause in Contracts

Limitations upon Liens. (a) After the date hereof and so long as any Securities are Outstanding, the Issuer will not pledge, mortgage, hypothecate or grant a security interest in, or permit any mortgage, pledge, security interest or other lien upon, any capital stock of any Subsidiary now or hereafter owned by the Issuer to secure any Indebtedness (hereinafter defined), without making effective provisions whereby the Outstanding Securities shall (so long as such other Indebtedness shall be so secured) be equally and ratably secured with any and all such other Indebtedness and any other indebtedness similarly entitled to be equally and ratably secured; provided, however, that this restriction shall not apply to nor prevent the creation or existence of (i) any mortgage, pledge, security interest, lien or encumbrance upon any such capital stock created at the time of the acquisition of such capital stock by the Issuer or within one year after such time to secure all or a portion of the purchase price for such capital stock or existing thereon at the time of the acquisition thereof by the Issuer (whether or not the obligations secured thereby are assumed by the Issuer), or (ii) any extension, renewal or refunding of any mortgage, pledge, security interest, lien or encumbrance described in clause (i) above on capital stock of any Subsidiary theretofore subject thereto (or substantially the same capital stock) or any portion thereof.

Limitations upon Liens. (a) After the date hereof and so long as any Securities are Outstanding, the Issuer will not, and will not permit any Subsidiary to, issue, assume or guarantee any Indebtedness secured by a mortgage, pledge, mortgagelien, hypothecate or grant a security interest in, or permit encumbrance (any mortgage, pledge, lien, security interest or other lien uponencumbrance being hereinafter in this Article referred to as a "mortgage" or "mortgages" or as a "lien" or "liens") of, or upon any property of the Issuer or of any Subsidiary, without effectively providing that the Securities (together with, if the Issuer shall so determine, any capital stock other Indebtedness of any Subsidiary now or hereafter owned by the Issuer to secure any Indebtedness (hereinafter defined), without making effective provisions whereby ranking equally with the Outstanding Securities Securities) shall (so long as such other Indebtedness shall be so secured) be equally and ratably secured with any and all such other Indebtedness and any other indebtedness similarly entitled to be equally and ratably securedIndebtedness; provided, however, that this the foregoing restriction shall not apply to nor prevent the creation or existence of to (ia) any mortgage, pledge, security interest, lien or encumbrance upon any such capital stock Any purchase money mortgage created at the time of the acquisition of such capital stock by the Issuer or within one year after such time a Subsidiary to secure all or a portion part of the purchase price for of any property (or to secure a loan made to enable the Issuer or a Subsidiary to acquire the property described in such capital stock or existing thereon at mortgage), provided that the time principal amount of the acquisition thereof Indebtedness secured by the Issuer (whether or not the obligations secured thereby are assumed by the Issuer), or (ii) any extension, renewal or refunding of any such mortgage, pledge, security interest, lien or encumbrance described in clause (i) above on capital stock of any Subsidiary theretofore subject thereto (or substantially the same capital stock) or any portion thereof.together with all

Limitations upon Liens. (a) After the date hereof and so long as any Securities are Outstanding, the Issuer will not pledge, mortgage, hypothecate or grant a security interest in, or permit any mortgage, pledge, security interest or other lien upon, any capital stock of any Subsidiary now or hereafter owned by the Issuer Issuer, to secure any Indebtedness (hereinafter defined), ) without making effective provisions provision whereby the Outstanding Securities shall (so long as such other Indebtedness shall be so secured) be equally and ratably secured with any and all such other Indebtedness and any other indebtedness similarly entitled to be equally and ratably secured; provided, however, that this restriction shall not apply to nor prevent the creation or existence of of: (i1) any mortgage, pledge, security interest, lien or encumbrance upon any such capital stock created at the time of the acquisition of such capital stock by the Issuer or within one year after such time to secure all or a portion of the purchase price for capital stock; (2) any mortgage, pledge, security interest, lien or encumbrance upon any such capital stock or existing thereon at the time of the acquisition thereof by the Issuer (whether or not the obligations secured thereby are assumed by the Issuer), or ; or (ii3) any extension, renewal or refunding of any mortgage, pledge, security interest, lien or encumbrance described in clause permitted by Subsections (i1) or (2) above on capital stock of any Subsidiary theretofore subject thereto (or substantially the same capital stock) stock theretofore subject thereto or any portion thereof.