Liens securing Indebtedness Clause Samples

Liens securing Indebtedness or other obligations of the Borrower or a Guarantor owing to the Borrower or a Guarantor permitted to be Incurred in accordance with Section 7.01;

Liens securing Indebtedness. Other than as provided below under Section 10.03, neither Borrower nor any Restricted Subsidiary may issue, assume or guarantee any Indebtedness secured by a Lien upon any Principal Property or on any evidences of Indebtedness or Equity Interests of any Subsidiaries (regardless of whether the Principal Property, Indebtedness or Equity Interests were acquired before or after the date of the Closing Date) except that this restriction will not apply to (the following, “Permitted Liens”): (a) Liens existing on the Closing Date and Liens permitted under any Subject Debt Agreement; (b) Liens affecting property of a Person existing at the time it becomes a Restricted Subsidiary or at the time it is merged into or consolidated with Borrower or Restricted Subsidiary (provided that such Liens are not incurred in connection with, or in contemplation of, such entity becoming a Restricted Subsidiary or such merger or consolidation and do not extend to or cover property of Borrower or a Restricted Party other than property of the entity so acquired); (c) Liens (including purchase money Liens) existing at the time of acquisition thereof on property acquired after the date hereof or to secure Indebtedness incurred prior to, at the time of, or within 24 months after the acquisition for the purpose of financing all or part of the purchase price of property acquired after the date hereof (provided that such Liens do not extend to or cover any property of Borrower or a Restricted Subsidiary other than the property so acquired); (d) Liens on any property acquired, developed, constructed or otherwise improved by any Restricted Subsidiary (including liens on the Equity Interests of any Restricted Subsidiary and substantially all assets of such Restricted Subsidiary, in each case to the extent such property constitutes substantially all of the business of such Restricted Subsidiary) to secure or provide for the payment of any part of the purchase price of the property or the cost of the development, construction or improvement thereof (including architectural, engineering, financing, consultant, advisor and legal fees, preopening costs and gaming licensing fees), or any Indebtedness incurred to provide funds for such purposes, or any Lien on any such property existing at the time of acquisition thereof; (e) Liens which secure Indebtedness of Borrower or a Restricted Subsidiary to a Restricted Subsidiary or which secure Indebtedness of a Restricted Subsidiary to Borrower; (f) Lien...

Liens securing Indebtedness of the Borrower or any Subsidiary of the Borrower provided the aggregate amount of such Indebtedness does not exceed 20% of Total Capitalization;

Liens securing Indebtedness of the Borrower or any other Subsidiary incurred to finance or refinance the acquisition, construction or improvement of fixed or capital assets (including, without limitation, Capital Lease Obligations), provided that (i) such Liens shall be created (A) substantially simultaneously with the acquisition of such fixed or capital assets or (B) subsequent thereto to the extent securing financing that replaces or refinances the previous funding or financing for such acquisition, construction or improvement, (ii) such Liens do not at any time encumber any property other than the property financed by such Indebtedness and (iii) the aggregate amount secured by any such Liens is in customary proportion to the value of the assets subject to such lien, as reasonably determined in good faith by the Borrower;

Liens securing Indebtedness or other obligations of a Borrower or a Restricted Subsidiary owing to another Borrower or another Restricted Subsidiary permitted to be incurred in accordance with Section 6.01(b)(vii);

Liens securing Indebtedness or other obligations of a Restricted Subsidiary owing to the Company or a Restricted Subsidiary (other than a Receivables Subsidiary);

Liens securing Indebtedness. Incurred to finance the construction, purchase or lease of, or repairs, improvements or additions to, property, plant or equipment of such Person; provided, however, that the Lien may not extend to any other property owned by such Person or any of its Restricted Subsidiaries at the time the Lien is Incurred (other than assets and property affixed or appurtenant thereto), and the Indebtedness (other than any interest thereon) secured by the Lien may not be Incurred more than 180 days after the later of the acquisition, completion of construction, repair, improvement, addition or commencement of full operation of the property subject to the Lien;

Liens securing Indebtedness of the Borrower to any Restricted Subsidiary and of any Restricted Subsidiary to any Subsidiary Loan Party; and

Liens securing Indebtedness or other obligations of the Borrower or a Restricted Subsidiary in favor of the Borrower or any Subsidiary Guarantor and Liens securing Indebtedness or other obligations of any Restricted Subsidiary that is not a Subsidiary Guarantor in favor of any Restricted Subsidiary that is not a Subsidiary Guarantor;