Common use of Equitable Lien Clause in Contracts

Equitable Lien. If any of Seller, Parent, FlexLending, Intermediate Seller or Company shall create or assume any Lien (other than a Permitted Lien, any Liens in connection with a Permitted Channel Partner Program or any Liens granted under the Revolution Agreements) upon any of its properties or assets, whether now owned or hereafter acquired, it shall make or cause to be made effective provisions whereby the Obligations will be secured by such Lien equally and ratably with any and all other Indebtedness secured thereby as long as any such Indebtedness shall be so secured; provided, notwithstanding the foregoing, this covenant shall not be construed as a consent by Requisite Lenders to the creation or assumption of any such Lien not otherwise permitted hereby.

Equitable Lien. If any of Seller, Parent, FlexLending, Intermediate Seller or Company shall create or assume any Lien (other than a Permitted Lien, Lien or any Liens in connection with a Permitted Channel Partner Program or any Liens granted under the Revolution AgreementsProgram) upon any of its properties or assets, whether now owned or hereafter acquired, it shall make or cause to be made effective provisions whereby the Obligations will be secured by such Lien equally and ratably with any and all other Indebtedness secured thereby as long as any such Indebtedness shall be so secured; provided, notwithstanding the foregoing, this covenant shall not be construed as a consent by Requisite Lenders to the creation or assumption of any such Lien not otherwise permitted hereby.