Common use of Indebtedness; Liens Clause in Contracts

Indebtedness; Liens. Other than in the ordinary course of Seller’s business consistent with past practice, from the date hereof through Closing, Seller shall not create, incur, assume, guarantee or otherwise become liable or obligated with respect to any indebtedness for borrowed money, nor make any loan or advance to, or any investment in, any person or entity, nor create any lien, security interest, mortgage, right or other encumbrance in any of the Assets, without Buyer’s prior written approval.

Appears in 3 contracts

Samples: Asset Purchase Agreement (Diversicare Healthcare Services, Inc.), Asset Purchase Agreement (Diversicare Healthcare Services, Inc.), Asset Purchase Agreement (Diversicare Healthcare Services, Inc.)

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Indebtedness; Liens. Other than in the ordinary course of Seller’s Sellers' business consistent with past practice, from the date hereof through Closing, Seller Sellers shall not create, incur, assume, guarantee or otherwise become liable or obligated with respect to any indebtedness for borrowed money, nor make any loan or advance to, or any investment in, any person or entity, nor create any lien, security interest, mortgage, right or other encumbrance in any of the Assets, without Buyer’s 's prior written approval.

Appears in 1 contract

Samples: Asset Purchase Agreement (Advocat Inc)

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