Mortgages and Pledges Sample Clauses
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Mortgages and Pledges. Create, incur, assume, or suffer to exist any mortgage, pledge, lien, or other encumbrance of any kind upon, or any security interest in, any of its property or assets, whether now owned or hereafter acquired, except (i) liens for taxes not yet delinquent or being contested in good faith and by appropriate proceedings; (ii) liens in connection with workers' compensation, unemployment insurance, or other social security obligations; (iii) deposits or pledges to secure bids, tenders, contracts (other than contracts for the payment of money), leases, statutory obligations, surety or appeal bonds, and other obligations of like nature arising in the ordinary course of business; (iv) mechanic's, ▇▇▇▇▇▇▇'▇, materialman's, landlord's, carrier's, or other like liens arising in the ordinary course of business with respect to obligations that are not due or that are being contested in good faith; (v) those mortgages, pledges, liens, and encumbrances reflected in the financial statements referred to in Section 5.07 above; (vi) mortgages, pledges, liens, and encumbrances in favor of Statesman; (vii) zoning restrictions, easements, licenses, restrictions on the use of real property or minor irregularities in the title thereto, which do not, in the opinion of the Cooperative, materially impair the use of such property in the operation of the business of the Cooperative or the value of such property for the purposes of such business; and (viii) any mortgage, encumbrance or other lien upon, or security interest in, any property hereafter acquired by the Cooperative created contemporaneously with such acquisition to secure or provide for the payment or financing of any part of the purchase price thereof, or the assumption of any mortgage, encumbrance or lien upon, or security interest in, any such property hereafter acquired existing at the time of such acquisition, or the acquisition of any such property subject to any mortgage, encumbrance or other lien or security interest without the assumption thereof, provided that each such mortgage, encumbrance, lien or security interest shall attach only to the property so acquired and fixed improvements thereon. Nothing contained in this Section 8.01 shall prohibit the Cooperative from entering into any lease required to be capitalized by generally accepted accounting principles in accordance with the Financial Accounting Standards Board Statement No. 13 (Accounting for Leases) in effect on the date of this Agreement, provided suc...
Mortgages and Pledges. Create, incur, assume, or suffer to exist any mortgage, pledge, lien, or other encumbrance of any kind upon, or any security interest in, any of its property or assets, whether now owned or hereafter acquired, except (i) liens for taxes not yet delinquent or being contested in good faith and by appropriate proceedings, (ii) liens in connection with worker’s compensation, unemployment insurance, or other social security obligations, (iii) workman’s, carrier’s, warehouseman’s or other like liens (excluding landlord’s liens) arising in the ordinary course of business with respect to obligations that are not due or that are being contested in good faith, (iv) mortgages, pledges, liens, encumbrances and security interests in favor of the Bank, (v) unfiled mechanic’s or materialman’s liens; provided that, if any mechanic’s or materialman’s lien is filed on any property or asset of the Company, the Company shall promptly bond off or otherwise effect the release of such lien, and (vi) purchase money security interests in capital assets of Company if each such purchase money security interest attaches to such capital asset concurrently with the acquisition thereof and if the indebtedness secured by such purchase money security interest does not exceed the lesser of the cost or fair market value as of the time of acquisition of the asset covered thereby to the Company, provided that no such purchase money security interest shall attach, extend to or cover any property or asset of the Company other than the related asset.
Mortgages and Pledges. Create, incur, assume or suffer to exist, or permit any of its Subsidiaries to create, incur, assume or suffer to exist, any Lien of any kind upon or in any of its property or assets, whether now owned or hereafter acquired, other than (i) Permitted Encumbrances and (ii) Liens granted in order to secure Indebtedness permitted under Section 7.02(a) or Section 7.02(b); provided, however, that the aggregate value of property subject to Liens granted pursuant to clause (ii) (exclusive of Liens to secure Indebtedness pursuant to Section 7.02(b)(i)) shall not exceed 30% of Total Consolidated Assets.
Mortgages and Pledges. Section 6.1 of the Loan Agreement is hereby deleted in its entirety and the following is inserted in full substitution thereof:
Section 6.1 Mortgages and Pledges. Create, incur, assume or suffer to exist any mortgage, pledge, lien or other material encumbrance of any kind upon, or any security interest in, any of its property or assets ("Lien"), whether now owned or hereafter acquired, except (a) Liens for taxes not delinquent or being contested in good faith and by appropriate proceedings, (b) Liens in connection with worker's compensation, unemployment insurance or other social security obligations, (c) deposits or pledges to secure bids, tenders, contracts (other than contracts for the payment of money), leases, statutory obligations, surety and appeal bonds and other obligations of like nature arising in the ordinary course of business, (d) mechanics', worker's, materialmen's, landlords', carriers', or other like Liens arising in the ordinary course of business with respect to obligations which are not due or which are being contested in good faith, and which do not violate the terms of the Deed of Trust, (e) any Lien created in connection with the refinancing of indebtedness in existence on the date hereof and any Liens securing any extension, renewal or replacement of obligations secured by any such Lien, (f) the assumption of any Lien in any property hereafter acquired by virtue of any Acquisition, existing at the time of such Acquisition; provided, however, that (i) the indebtedness secured by any such Lien so created, assumed or existing shall not exceed the fair market value of the property covered thereby to the entity acquiring the same, (ii) each such Lien shall attach only to the property so acquired, (iii) that such Lien interest shall not secure any working capital indebtedness, (g) any purchase money mortgage, or purchase money security interest in any property, or interest therein created or assumed
Mortgages and Pledges. Without the prior written consent of the Lender (which consent the Lender may grant or withhold in its sole discretion), create, incur, assume, or suffer to exist, any Lien of any kind upon any of their property or assets, whether now owned or hereafter acquired, except for Permitted Encumbrances.
Mortgages and Pledges. Create, incur, assume or suffer to exist any Lien on any of its property or assets, whether now owned or hereafter acquired, except for Permitted Liens.
Mortgages and Pledges. Create, incur, assume or suffer to exist any mortgage, pledge, lien, charge or other encumbrance of any kind (including the charge on property purchased under conditional sales or other title retention agreements) upon, or any security interest in, the Collateral or any of the other properties or assets, whether now owned or hereafter acquired, of the Borrower, except for (i) liens under the Security Agreement, (ii) liens incidental to the conduct of the business of the Borrower or the ownership of its properties or assets not incurred in connection with the borrowing of money or the acquisition of any asset, and which in the aggregate do not materially detract from the business, prospects, operations, properties, assets or condition (financial or otherwise) of the Borrower, (iii) liens constituting purchase money mortgages, so long as each such lien secures only the Indebtedness incurred to purchase the property subject to such lien (provided that the total amount of Indebtedness secured by all such liens shall not exceed $250,000 outstanding at any one time), and (iv) liens in existence on December 31, 2001 as set forth in the Financial Statements (provided that the Indebtedness secured thereby shall not be extended, renewed or increased).
Mortgages and Pledges. 54 9.3 Merger, Consolidation, or Sale of Assets............................................55 9.4 Acquisitions........................................................................55 9.5
Mortgages and Pledges. Create, incur or assume any mortgage, pledge, lien or other encumbrance of any kind upon any of its property or assets, whether now owned or hereafter acquired, except:
(i) encumbrances permitted by Section 11.1 (f) of the Letter of Credit Agreement,
(ii) liens for taxes not delinquent or being contested in good faith and by appropriate proceedings,
(iii) liens in connection with worker’s compensation, unemployment insurance or other social security obligations,
(iv) deposits or pledges to secure bids, tenders, contracts (other than contracts for the payment of money), leases, statutory obligations, surety and appeal bonds and other obligations of like nature arising in the ordinary course of business, and
(v) mechanics’, worker’s, materialmen’s, landlords’, carriers’, or other like liens arising in the ordinary course of business with respect to obligations which are not due or which are being contested in good faith.
Mortgages and Pledges. Create, incur, assume or suffer to --------------------- exist any mortgage, pledge, lien or other encumbrance of any kind (including the charge upon property purchased under conditional sale or other title retention agreements) upon, or any security interest in, any of its property or assets, whether now owned or hereafter acquired, or permit any subsidiary so to do, except (i) liens for taxes not delinquent or being contested in good faith and by appropriate proceedings, (ii) deposits or pledges to secure obligations under workmen's compensation, social security or similar laws, or under unemployment insurance, (iii) deposits or pledges to secure bids, tenders, contracts (other than contracts for the payment of money), leases, statutory obligations, surety and appeal bonds and other obligations of like nature arising in the ordinary course of business, (iv) mechanic's, workmen's, materialmen's or other like liens arising in the ordinary course of business with respect to obligations which are not due or which are being contested in good faith, (v) existing liens as set forth on Schedule 9(b) hereto, and (vi) purchase money security interests on assets acquired in the ordinary course of business securing indebtedness otherwise permitted to be incurred hereunder, incurred in connection with the acquisition of such assets, which liens cover only the assets so acquired.