Common use of Permitted Existing Liens Clause in Contracts

Permitted Existing Liens. Liens existing on such property at the time of its acquisition (other than any such Liens created in contemplation of such acquisition), and Liens on fixed assets of the Borrower or any of its subsidiaries acquired, constructed or improved after the date hereof which are created contemporaneously with such acquisition, construction or improvement to secure the purchase price of such property or the cost of such construction or improvement, and Liens on fixed assets of the Borrower or any of its subsidiaries arising in connection with sale and leaseback transactions entered into by the Borrower or any of its subsidiaries after the date hereof; provided, however, that no Lien of the kind described in this clause (C) shall extend to or cover any property or asset of the Borrower or any subsidiary of the Borrower other than the property or asset so acquired or the construction or improvement so procured; and