Common use of Security and Financial Indebtedness Clause in Contracts

Security and Financial Indebtedness. (A) No mortgage, charge, pledge, lien or other security interest securing any obligation of any person or any other agreement or arrangement having a similar effect exists over all or any of the present or future assets of each Obligor other than as permitted by the Transaction Documents or the Existing Security. (B) No Obligor has Financial Indebtedness outstanding other than as permitted by the Transaction Documents.