Common use of NO RESTRICTIONS ON LIABILITIES Clause in Contracts

NO RESTRICTIONS ON LIABILITIES. No Borrower shall enter into or become subject to, directly or indirectly, any agreement prohibiting or restricting in any manner (including, without limitation, by way of covenant, representation or event of default) any of the following: (a) The incurrence, creation or assumption of the Liabilities or any Encumbrances in favor of the Agent on any property of any Borrower.

Appears in 2 contracts

Sources: Loan and Security Agreement (Sports Authority Inc /De/), Loan and Security Agreement (Lechters Inc)

NO RESTRICTIONS ON LIABILITIES. No Borrower shall enter into or become subject to, directly or indirectly, any agreement prohibiting or restricting (other than with respect to Permitted Encumbrances), in any manner (including, without limitation, by way of covenant, representation representation, or event of default) any of the following: : (a) The incurrence, creation or assumption granting of the Liabilities or any Encumbrances Collateral Interests in favor of the Collateral Agent and the Lenders on any property asset of any Borrower; or (b) The incurrence of any of the Liabilities.

Appears in 2 contracts

Sources: Loan and Security Agreement (Mazel Stores Inc), Loan and Security Agreement (Mazel Stores Inc)

NO RESTRICTIONS ON LIABILITIES. No The Borrower shall not enter into or become subject to, directly or indirectly, any agreement prohibiting or restricting (other than with respect to Permitted Encumbrances), in any manner (including, without limitation, by way of covenant, representation representation, or event of default) any of the following: : (a) The incurrence, creation or assumption granting of the Liabilities or any Encumbrances Collateral Interests in favor of the Agent on any property asset of the Borrower; The incurrence of any Borrowerof the Liabilities.

Appears in 2 contracts

Sources: Loan and Security Agreement (RoomStore, Inc.), Loan and Security Agreement (RoomStore, Inc.)

NO RESTRICTIONS ON LIABILITIES. No Borrower shall enter into or directly or indirectly become subject toto any agreement which prohibits or restricts, directly or indirectlyin any manner, any agreement prohibiting or restricting in any manner (including, without limitation, by way of covenant, representation or event of default) any of the following: (a) The incurrence, creation or assumption of the Liabilities or any Encumbrances in favor of the Agent on any property of any Borrower.'s:

Appears in 1 contract

Sources: Loan Agreement (World of Science Inc)

NO RESTRICTIONS ON LIABILITIES. No Borrower shall enter into or directly or indirectly become subject to, directly or indirectly, to any agreement prohibiting which prohibits or restricting restricts, in any manner (includingmanner, without limitation, by way of covenant, representation or event of default) any of the following: that Borrower's: (a) The incurrenceCreation of, creation or assumption and granting of the Liabilities or any Encumbrances security and other collateral interests in favor of the Agent on any property of any BorrowerCollateral Agent.

Appears in 1 contract

Sources: Loan and Security Agreement (Homeplace of America Inc)

NO RESTRICTIONS ON LIABILITIES. No Borrower shall enter into or directly or indirectly become subject toto any agreement which prohibits or restricts, directly or indirectlyin any manner, any agreement prohibiting or restricting in any manner (including, without limitation, by way of covenant, representation or event of default) any of the following: Borrower's: (a) The incurrenceCreation of, creation or assumption and granting of the Liabilities or any Encumbrances Collateral Interests in favor of the Agent on any property of any BorrowerAgent.

Appears in 1 contract

Sources: Loan and Security Agreement (Phar Mor Inc)

NO RESTRICTIONS ON LIABILITIES. No Borrower shall enter into or become subject to, directly or indirectly, any agreement prohibiting or restricting (other than with respect to Permitted Encumbrances), in any manner (including, without limitation, by way of covenant, representation representation, or event of default) any of the following: : (a) The incurrence, creation or assumption granting of the Liabilities or any Encumbrances Collateral Interests in favor of the Agent on any property asset of any Borrowerof the Collateral; or (b) The incurrence of any of the Liabilities.

Appears in 1 contract

Sources: Loan and Security Agreement (Duckwall Alco Stores Inc)

NO RESTRICTIONS ON LIABILITIES. No Borrower shall enter into or directly or indirectly become subject toto any agreement which prohibits or restricts, directly or indirectlyin any manner, any agreement prohibiting or restricting in any manner (including, without limitation, by way of covenant, representation or event of default) any of the following: Borrowers': (a) The incurrenceCreation of, creation or assumption and granting of the Liabilities or any Encumbrances Collateral Interests in favor of the Agent on any property of any BorrowerAgent.

Appears in 1 contract

Sources: Loan and Security Agreement (Drugmax Inc)

NO RESTRICTIONS ON LIABILITIES. No Borrower shall enter into or directly or indirectly become subject to, directly or indirectly, to any agreement prohibiting which prohibits or restricting restricts, in any manner (includingmanner, without limitation, by way of covenant, representation or event of default) any of the following: such Borrower’s: (a) The incurrenceCreation of, creation or assumption and granting of the Liabilities or any Encumbrances Collateral Interests in favor of the Agent on any property of any BorrowerLender.

Appears in 1 contract

Sources: Loan and Security Agreement (Dreams Inc)

NO RESTRICTIONS ON LIABILITIES. No Borrower shall enter into or become subject to, directly or indirectly, any agreement prohibiting or restricting in any manner (including, without limitation, by way of covenant, representation or event of default) any of the following: : (a) The incurrence, creation or assumption of the Liabilities or any Encumbrances in favor of the Agent on any property of any Borrower. (b) The granting of a security interest, pledge, or Encumbrance in favor of the Agent and the Lenders on any asset of any Borrower.

Appears in 1 contract

Sources: Loan and Security Agreement (Sports Authority Inc /De/)

NO RESTRICTIONS ON LIABILITIES. No Borrower shall enter into or become subject to, directly or indirectly, any agreement prohibiting or restricting in any manner (including, without limitation, by way of covenant, representation or event of default) any of the following: (a) The incurrence, creation or assumption of the Liabilities or any Encumbrances in favor of the Agent on any property of any Borrower. (b) The granting of a security interest, pledge, or Encumbrance in favor of the Agent and the Lenders on any asset of any Borrower.

Appears in 1 contract

Sources: Loan and Security Agreement (Lechters Inc)

NO RESTRICTIONS ON LIABILITIES. No Borrower shall enter into or become subject to, directly or indirectly, any agreement prohibiting or restricting (other than with respect to Permitted Subdebt), in any manner (including, without limitation, by way of covenant, representation representation, or event of default) any of the following: : (a) The incurrence, creation or assumption granting of the Liabilities or any Encumbrances Collateral Interests in favor of the Collateral Agent and the Lenders on any property asset of any Borrower; or (b) The incurrence of any of the Liabilities.

Appears in 1 contract

Sources: Loan and Security Agreement (Restoration Hardware Inc)