Common use of Permitted Security Interests Clause in Contracts

Permitted Security Interests. The requirements of this Article VI shall not apply to a collateral assignment, pledge or other transfer creating a security interest in all or any portion of a Partner's interest in the Partnership under any mortgage, indenture or deed of trust created by such Partner not otherwise prohibited by the terms of any credit agreement or other instrument evidencing debt to which the Partnership is then subject.

Appears in 2 contracts

Sources: Limited Partnership Agreement (Market Hub Partners Storage Lp), Limited Partnership Agreement (Market Hub Partners Storage Lp)