Common use of Indebtedness and Liens Clause in Contracts

Indebtedness and Liens. As of the Closing Date, (i) no Subsidiary (other than the Borrower) of either of the Loan Parties had outstanding any Indebtedness that was created, incurred or assumed after September 30, 2006, except Indebtedness that would have been permitted by Section 7.2 (without giving effect to the Indebtedness permitted by Section 7.2(a)) if created, incurred or assumed by such Subsidiary on the Closing Date and (ii) there does not exist (a) any Lien that was created, incurred or assumed after September 30, 2006, upon any stock or Indebtedness of any Subsidiary to secure any Debt of any Loan Party or any of their Subsidiaries or any other Person (other than the obligations hereunder) or (b) any Lien that was created, incurred or assumed after September 30, 2006, upon any other Property, to secure any Debt of any Loan Party or any of their Subsidiaries or any other Person (other than the obligations hereunder), except, in the case of (a) or (b), Liens that would have been permitted by Section 7.3 hereof (without giving effect to the Liens that would have been permitted by Section 7.3(i)(x)) if so created, incurred or assumed on the Closing Date.

Indebtedness and Liens. As of the Closing Date, (i) no Subsidiary (other than the Borrower) of either of the Loan Parties Borrower had outstanding any Indebtedness that was created, incurred or assumed after September June 30, 20062007, except Indebtedness that would have been permitted by Section 7.2 (without giving effect to the Indebtedness permitted by Section 7.2(a7.2(a)(i)) if created, incurred or assumed by such Subsidiary on the Closing Date and (ii) there does not exist (a) any Lien that was created, incurred or assumed after September June 30, 20062007, upon any stock or Indebtedness of any Subsidiary to secure any Debt of any Loan Party the Borrower or any of their its Subsidiaries or any other Person (other than the obligations hereunder) or (b) any Lien that was created, incurred or assumed after September June 30, 20062007, upon any other Property, to secure any Debt of any Loan Party the Borrower or any of their its Subsidiaries or any other Person (other than the obligations hereunder), except, in the case of (a) or (b), Liens that would have been permitted by Section 7.3 hereof (without giving effect to the Liens that would have been permitted by Section 7.3(i)(x)) if so created, incurred or assumed on the Closing Date.

Indebtedness and Liens. As of the Closing Date, (i) no Subsidiary (other than the Borrower) of either of the Loan Parties Borrower had outstanding any Indebtedness that was created, incurred or assumed after September June 30, 20062011, except Indebtedness that would have been permitted by Section 7.2 (without giving effect to the Indebtedness permitted by Section 7.2(a), except for refinancings, refundings, renewals or extensions permitted by such Section) if created, incurred or assumed by such Subsidiary on the Closing Date and (ii) there does not exist (a) any Lien that was created, incurred or assumed after September June 30, 20062011, upon any stock or Indebtedness of any Subsidiary to secure any Debt of any Loan Party the Borrower or any of their its Subsidiaries or any other Person (other than the obligations hereunder) or (b) any Lien that was created, incurred or assumed after September June 30, 20062011, upon any other Property, to secure any Debt of any Loan Party the Borrower or any of their its Subsidiaries or any other Person (other than the obligations hereunder), except, in the case of (a) or (b), Liens that would have been permitted by Section 7.3 hereof (without giving effect to the Liens that would have been permitted by Section 7.3(i)(x)) if so created, incurred or assumed on the Closing Date.

Indebtedness and Liens. As of the Closing Effective Date, (i) no Subsidiary (other than the Borrower) of either of the Loan Parties Borrower had outstanding any Indebtedness that was created, incurred or assumed after September June 30, 20062014, except Indebtedness that would have been permitted by Section 7.2 6.02 (without giving effect to the Indebtedness permitted by Section 7.2(a6.02(a)(i)) if created, incurred or assumed by such Subsidiary on the Closing Effective Date and (ii) there does not exist (a) any Lien that was created, incurred or assumed after September June 30, 20062014, upon any stock or Indebtedness of any Subsidiary to secure any Debt of any Loan Party the Borrower or any of their its Subsidiaries or any other Person (other than the obligations hereunder) or (b) any Lien that was created, incurred or assumed after September June 30, 20062014, upon any other Property, to secure any Debt of any Loan Party the Borrower or any of their its Subsidiaries or any other Person (other than the obligations hereunder), except, in the case of (a) or (b), Liens that would have been permitted by Section 7.3 6.03 hereof (without giving effect to the Liens that would have been permitted by Section 7.3(i)(x6.03(i)(x)) if so created, incurred or assumed on the Closing Effective Date.

Indebtedness and Liens. As of the Closing Date, (i) no Subsidiary (other than the Borrower) of either of the Loan Parties Borrower had outstanding any Indebtedness that was created, incurred or assumed after September 30March 31, 20062007, except Indebtedness that would have been permitted by Section 7.2 (without giving effect to the Indebtedness permitted by Section 7.2(a7.2(a)(i)) if created, incurred or assumed by such Subsidiary on the Closing Date and (ii) there does not exist (a) any Lien that was created, incurred or assumed after September 30March 31, 20062007, upon any stock or Indebtedness of any Subsidiary to secure any Debt of any Loan Party the Borrower or any of their its Subsidiaries or any other Person (other than the obligations hereunder) or (b) any Lien that was created, incurred or assumed after September 30March 31, 20062007, upon any other Property, to secure any Debt of any Loan Party the Borrower or any of their its Subsidiaries or any other Person (other than the obligations hereunder), except, in the case of (a) or (b), Liens that would have been permitted by Section 7.3 hereof (without giving effect to the Liens that would have been permitted by Section 7.3(i)(x)) if so created, incurred or assumed on the Closing Date.

Indebtedness and Liens. As of the Closing Date, (i) no Subsidiary (other than the Borrower) of either of the Loan Parties Borrower had outstanding any Indebtedness that was created, incurred or assumed after September 30, 20062011, except Indebtedness that would have been permitted by Section 7.2 6.02 (without giving effect to the Indebtedness permitted by Section 7.2(a6.02(a)(i)) if created, incurred or assumed by such Subsidiary on the Closing Date and (ii) there does not exist (a) any Lien that was created, incurred or assumed after September 30, 20062011, upon any stock or Indebtedness of any Subsidiary to secure any Debt of any Loan Party the Borrower or any of their its Subsidiaries or any other Person (other than the obligations hereunder) or (b) any Lien that was created, incurred or assumed after September 30, 20062011, upon any other Property, to secure any Debt of any Loan Party the Borrower or any of their its Subsidiaries or any other Person (other than the obligations hereunder), except, in the case of (a) or (b), Liens that would have been permitted by Section 7.3 6.03 hereof (without giving effect to the Liens that would have been permitted by Section 7.3(i)(x6.03(i)(x)) if so created, incurred or assumed on the Closing Date.

Indebtedness and Liens. As of the Closing Date, (i) no Subsidiary (other than the Borrower) of either of the Loan Parties Borrower had outstanding any Indebtedness that was created, incurred or assumed after September June 30, 20062013, except Indebtedness that would have been permitted by Section 7.2 (without giving effect to the Indebtedness permitted by Section 7.2(a), except for refinancings, refundings, renewals or extensions permitted by such Section) if created, incurred or assumed by such Subsidiary on the Closing Date and (ii) there does not exist (a) any Lien that was created, incurred or assumed after September June 30, 20062013, upon any stock or Indebtedness of any Subsidiary to secure any Debt of any Loan Party the Borrower or any of their its Subsidiaries or any other Person (other than the obligations hereunder) or (b) any Lien that was created, incurred or assumed after September June 30, 20062013, upon any other Property, to secure any Debt of any Loan Party the Borrower or any of their its Subsidiaries or any other Person (other than the obligations hereunder), except, in the case of (a) or (b), Liens that would have been permitted by Section 7.3 hereof (without giving effect to the Liens that would have been permitted by Section 7.3(i)(x)) if so created, incurred or assumed on the Closing Date.

Indebtedness and Liens. As of the Closing Date, (i) no Subsidiary (other than the BorrowerWhite Mountains Re) of either of the Loan Parties Borrowers had outstanding any Indebtedness that was created, incurred or assumed after September 30, 2006, except Indebtedness that would have been permitted by Section 7.2 (without giving effect to the Indebtedness permitted by Section 7.2(a7.2(a)(i)) if created, incurred or assumed by such Subsidiary on the Closing Date and (ii) there does not exist (a) any Lien that was created, incurred or assumed after September 30, 2006, upon any stock or Indebtedness of any Subsidiary to secure any Debt of any Loan Party the Borrowers or any of their Subsidiaries or any other Person (other than the obligations hereunder) or (b) any Lien that was created, incurred or assumed after September 30, 2006, upon any other Property, to secure any Debt of any Loan Party the Borrowers or any of their Subsidiaries or any other Person (other than the obligations hereunder), except, in the case of (a) or (b), Liens that would have been permitted by Section 7.3 hereof (without giving effect to the Liens that would have been permitted by Section 7.3(i)(x)) if so created, incurred or assumed on the Closing Date.

Indebtedness and Liens. As of the Closing Effective Date, (i) no Subsidiary (other than the Borrower) of either of the Loan Parties Borrower had outstanding any Indebtedness that was created, incurred or assumed after September June 30, 20062015, except Indebtedness that would have been permitted by Section 7.2 6.02 (without giving effect to the Indebtedness permitted by Section 7.2(a6.02(a)(i)) if created, incurred or assumed by such Subsidiary on the Closing Effective Date and (ii) there does not exist (a) any Lien that was created, incurred or assumed after September June 30, 20062015, upon any stock or Indebtedness of any Subsidiary to secure any Debt of any Loan Party the Borrower or any of their its Subsidiaries or any other Person (other than the obligations hereunder) or (b) any Lien that was created, incurred or assumed after September June 30, 20062015, upon any other Property, to secure any Debt of any Loan Party the Borrower or any of their its Subsidiaries or any other Person (other than the obligations hereunder), except, in the case of (a) or (b), Liens that would have been permitted by Section 7.3 6.03 hereof (without giving effect to the Liens that would have been permitted by Section 7.3(i)(x6.03(i)(x)) if so created, incurred or assumed on the Closing Effective Date.

Indebtedness and Liens. As of the Closing Date, (i) no Subsidiary (other than the BorrowerFund American) of either of the Loan Parties Borrowers had outstanding any Indebtedness that was created, incurred or assumed after September June 30, 20062004, except Indebtedness that would have been permitted by Section 7.2 (without giving effect to the Indebtedness permitted by Section 7.2(a)) if created, incurred or assumed by such Subsidiary on the Closing Date and (ii) there does not exist (a) any Lien that was created, incurred or assumed after September June 30, 20062004, upon any stock or Indebtedness indebtedness of any Subsidiary to secure any Debt of any Loan Party the Borrowers or any of their Subsidiaries or any other Person person (other than the obligations hereunder) or (b) any Lien that was created, incurred or assumed after September June 30, 20062004, upon any other Property, to secure any Debt of any Loan Party the Borrowers or any of their Subsidiaries or any other Person person (other than the obligations hereunder), except, in the case of (a) or (b), Liens that would have been permitted by Section 7.3 hereof (without giving effect to the Liens that would have been permitted by Section 7.3(i)(x7.3(a)(x)) if so created, incurred or assumed on the Closing Date.

Indebtedness and Liens. As of the Closing Date, (i) no Subsidiary (other than the BorrowerFund American) of either of the Loan Parties Borrowers had outstanding any Indebtedness of such Subsidiary that was created, incurred or assumed after September June 30, 20062003, except Indebtedness that would have been permitted by Section 7.2 (without giving effect to the Indebtedness permitted by Section 7.2(a)) if created, incurred or assumed by such Subsidiary on the Closing Date and (ii) there does not exist (a) any Lien that was created, incurred or assumed after September June 30, 20062003, upon any stock or Indebtedness indebtedness of any Subsidiary to secure any Debt of any Loan Party the Borrowers or any of their Subsidiaries or any other Person person (other than the obligations hereunder) or (b) any Lien that was created, incurred or assumed after September June 30, 20062003, upon any other Property, to secure any Debt of any Loan Party the Borrowers or any of their Subsidiaries or any other Person person (other than the obligations hereunder), except, in the case of (a) or (b), Liens that would have been permitted by Section 7.3 hereof (without giving effect to the Liens that would have been permitted by Section 7.3(i)(x7.3(a)(x)) if so created, incurred or assumed on the Closing Date.