Common use of Equity Pledges Clause in Contracts

Equity Pledges. Notwithstanding anything in this Agreement to the contrary, no Borrower will create or incur or suffer to be created or incurred, or permit any Guarantor to create or incur or suffer to be created or incurred, any Lien on any legal, equitable or beneficial interest of such Borrower in any of its Subsidiaries or of such Guarantor in any Borrower, including any Distributions or rights to Distributions on account thereof, except for the Lien of Administrative Agent pursuant to the Security Documents.

Equity Pledges. Notwithstanding anything in this Agreement to the contrary, no Borrower will create or incur or suffer to be created or incurred, or permit any Guarantor to create or incur or suffer to be created or incurred, incurred any Lien on any legal, equitable or beneficial interest of such Borrower in any of its Subsidiaries or of such Guarantor in any BorrowerSubsidiaries, including any Distributions or rights to Distributions on account thereof, except for the Lien of Administrative Agent pursuant to the Security Documents.