Common use of Equal and Ratable Security Clause in Contracts

Equal and Ratable Security. The Company shall not, and shall not permit any of its Restricted Subsidiaries to, directly or indirectly, create or permit to exist any Lien on any Principal Property, or shares of capital stock of any Restricted Subsidiary, whether owned on the date of this Agreement or thereafter acquired, securing any obligation unless the Company contemporaneously secures the Company’s obligations under this Agreement equally and ratably with (or prior to) such obligation. The preceding sentence shall not require the Company to secure the Company’s obligations under this Agreement if the Lien consists of the following: (i) Permitted Liens; or (ii) Liens other than those permitted in Section 6.01(i) above, provided that the aggregate amount of all obligations secured by Liens permitted by this Section 6.01(ii) shall not exceed 15% of Consolidated Net Tangible Assets.