Except for Permitted Liens Sample Clauses
The "Except for Permitted Liens" clause defines an exception to a general prohibition on liens, allowing certain specified liens to exist without breaching the agreement. In practice, this means that while a party is generally restricted from granting or suffering liens on its assets, certain types of liens—such as those arising by operation of law or those specifically listed in the contract—are allowed. This clause ensures that routine or necessary liens, like tax liens or purchase money security interests, do not trigger a default, thereby providing flexibility and practicality in managing assets while maintaining overall restrictions on encumbrances.
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Except for Permitted Liens. The Borrower shall not and shall not permit its Subsidiaries to make or enter into any agreement not to grant Liens for the benefit of any Person other than for the benefit of the Bank, except for such agreements existing on the date hereof and relating to the liens set forth in Schedule 1.1 and the Indebtedness set forth on Schedule 5.1.
Except for Permitted Liens. Borrower owns and has good title to all of Borrower's properties free and clear of all Security interests and has not executed any security documents or financing statements relating to such properties. All of Borrower's properties are listed in Borrower's legal name, and Borrower has not used, or filed a financing statement under, any other name for at least the last five (5) years. Additionally, Borrower and Borrower's real and personal properties comply fully with all laws, ordinances, statutes, codes and requirements of the Americans with Disabilities Act of 1990.
Except for Permitted Liens all of the properties and assets of Borrower and each REO Affiliate are free and clear of all mortgages, liens, encumbrances and other adverse claims of any nature and Borrower and each REO Affiliate have and will have good and indefeasible title to their respective properties and assets.
Except for Permitted Liens the Debtor shall keep and maintain the Collateral free and clear of all levies, liens, encumbrances and other security interests (including, but not limited to, any lien of attachment, judgment or execution) and defend the Collateral against any such levy, lien, encumbrance or security interest; comply with all laws, statutes and regulations pertaining to the Collateral; execute, file and record such statements, notices and agreements, take such actions and obtain such certificates and other documents as necessary to perfect, evidence and continue the Bank's security interest in the Collateral and the priority thereof; maintain accurate and complete records of the Collateral
Except for Permitted Liens. Borrower owns and has good title to all of Borrower's properties free and clear of all Security Interests, and has not executed any security documents or financing statements relating to such properties. All of Borrower's properties are titled in Borrower's legal name, and Borrower has not used, or filed a financing statement under, any other name for at least the last five (5) years.
Except for Permitted Liens. Holdings and Borrower will not, and will not permit any of their Subsidiaries to, directly or indirectly create, incur, assume or permit to exist any Lien on or with respect to any of the assets of such Person or any proceeds, income or profits therefrom.
Except for Permitted Liens the Borrower shall not directly or indirectly permit to exist any Liens with respect to any of its assets except with the prior written consent of the Bank.
Except for Permitted Liens a Borrower shall at all times be the sole owner of each and every item of Collateral and shall not create any Lien on, or sell, lease, exchange, assign, transfer, pledge, hypothecate, grant a security interest or security title in or otherwise dispose of, any of the Collateral or any interest therein, except as otherwise expressly contemplated herein or in the Security Document. Except as otherwise provided in the Security Documents, Borrowers shall be allowed to sell Inventory in the ordinary course of business.
Except for Permitted Liens. Borrower has good and marketable title to all of the assets used in its business operations, including all Collateral, free and clear of all liens and encumbrances.
Except for Permitted Liens the Borrower has not created, and is not under any obligation to create, any Lien upon any of its revenues, properties or assets. There are no Liens on the Pledged Equity Interests, except for Permitted Liens.