Limitation on Certain Liens. (a) So long as any of the 2023 Notes are outstanding, the Issuer shall not create, incur, assume or suffer to exist any lien, mortgage, pledge, security interest, conditional sale, title retention agreement or other charge or encumbrance of any kind, or any other type of arrangement intended or having the effect of conferring upon a creditor of the Issuer or any Subsidiary a preferential interest (hereinafter in this Section 7.02 referred to as a "Lien") upon or with respect to any of its property of any character, including without limitation any shares of Capital Stock of Consumers or Enterprises, without making effective provision whereby the 2023 Notes shall (so long as any such other creditor shall be so secured) be equally and ratably secured (along with any other creditor similarly entitled to be secured) by a direct Lien on all property subject to such Lien, provided, however, that the foregoing restrictions shall not apply to:
Limitation on Certain Liens. (a) So long as any of the General Term Notes are outstanding, the Company shall not create, incur, assume or suffer to exist any Lien or any other type of arrangement intended or having the effect of conferring upon a creditor of the Company or any Subsidiary a preferential interest (hereinafter in this Section referred to as a "Lien") upon or with respect to the Capital Stock of Consumers, Enterprises or NOMECO without making effective provision whereby the General Term Notes shall (so long as any such other creditor shall be so secured) be equally and ratably secured (along with any other creditor similarly entitled to be secured) by a direct Lien on all property subject to such Lien, provided, however, that the foregoing restrictions shall not apply to:
Limitation on Certain Liens. No Loan Party shall grant a security interest on “Property” as defined in the Senior Notes Indenture as in effect on the First Amendment Effective Date in favor of any Person to secured Indebtedness for borrowed money, unless a security interest senior or pari to the security interest securing such Indebtedness is granted thereon by such Loan Party in favor of the Administrative Agent (for the benefit of the Secured Parties hereunder) and such Person enters into an Intercreditor Agreement.
Limitation on Certain Liens. (a) The Company shall not, and shall not permit any Restricted Subsidiary to, directly or indirectly, create, incur, assume or suffer to exist any Lien (other than any Permitted Lien) on or with respect to any of its property or assets (including any Capital Stock), whether held on the Issue Date or thereafter acquired, or any income, profits or proceeds therefrom, securing any Specified Indebtedness, unless (x) effective provision is made contemporaneously therewith to secure the Notes and the Note Guarantees, as applicable, (i) in the case of a Lien securing Subordinated Indebtedness, by a perfected Lien on such property, assets, income, profits or proceeds that is senior in priority to such Lien securing such Indebtedness, or (ii) in the case of a Lien securing any other Specified Indebtedness, equally and ratably with (or prior to) such Lien securing such Indebtedness and (y) any such Restricted Subsidiary is a Note Guarantor.
Limitation on Certain Liens. The Company shall not, and shall not permit any of its Restricted Subsidiaries to, create, incur, assume or suffer to exist any Lien upon or with respect to any of its property of any character, including without limitation any shares of Capital Stock of Tampa Electric, without making effective provision whereby the Notes shall be (so long as any such other creditor shall be so secured) equally and ratably secured. The foregoing restrictions shall not apply to:
Limitation on Certain Liens. No Loan Party shall grant a security interest on “Property” as defined in the Senior Notes Indenture as in effect on the First Amendment Effective Date in favor of any Person that ceases to be a Loan Party as a result of a Disposition otherwise permitted hereunder, and in any such case, such Disposition, if applicable, shall be subject to a non-exclusive, irrevocable (until Payment in Full) royalty-free license of such Material Intellectual Propertysecured Indebtedness for borrowed money, unless a security interest senior or pari to the security interest securing such Indebtedness is granted thereon by such Loan Party in favor of the Administrative Agent (for use in connection with the exercise of rights and remediesbenefit of the Secured Parties under the Loan Documents in respect of the Collateral, which license shall be substantially similar to the license described in Section 5.4 of the Security Agreement (or otherwise reasonably satisfactory to the Administrative Agent)hereunder) and such Person enters into an Intercreditor Agreement.
Limitation on Certain Liens. (a) So long as any of the General Term Notes are outstanding, the Company shall not create, incur, assume or suffer to exist any lien, mortgage, pledge, security interest, conditional sale, title retention agreement or other charge or encumbrance of any kind, or any other type of arrangement intended or having the effect of conferring upon a creditor of the Company or any Subsidiary a preferential interest (hereinafter in this Section referred to as a "Lien") upon or with respect to the Capital Stock of Consumers, Enterprises or NOMECO without making effective provision whereby the General Term Notes shall (so long as any such other creditor shall be so secured) be equally and ratably secured (along with any other creditor similarly entitled to be secured) by a direct Lien on all property subject to such Lien, provided, however, that the foregoing restrictions shall not apply to:
Limitation on Certain Liens. So long as any of the 2017 Notes are outstanding, the Issuer shall not create, incur, assume or suffer to exist any lien, mortgage, pledge, security interest, conditional sale, title retention agreement or other charge or encumbrance of any kind, or any other type of arrangement intended or having the effect of conferring upon a creditor of the Issuer or any Subsidiary a preferential interest (hereinafter in this Section 4.02 referred to as a “Lien”); provided, that no Event of Default shall have occurred and be continuing (or result therefrom) at the time of payment of such dividend upon or with respect to any of its property of any character, including without limitation any shares of Capital Stock of Consumers or Enterprises, without making effective provision whereby the 2017 Notes shall (so long as any such other creditor shall be so secured) be equally and ratably secured (along with any other creditor similarly entitled to be secured) by a direct Lien on all property subject to such Lien, provided, however, that the foregoing restrictions shall not apply to:
Limitation on Certain Liens. As long as any of the Notes are outstanding, if the Guarantor shall incur, issue, assume or guarantee any indebtedness for borrowed money represented by notes, bonds, debentures or other similar evidences of indebtedness, secured by a Lien on any Principal Property or on any capital stock or indebtedness of any Subsidiary of the Guarantor held directly by the Guarantor, the Guarantor shall secure the Notes equally and ratably with (or prior to) such indebtedness, so long as such indebtedness shall be so secured. This restriction will not apply to, and there shall be excluded in computing secured indebtedness for the purpose of such restriction, indebtedness secured by (a) Liens on shares of stock or debt of any corporation existing at the time such corporation becomes a Subsidiary, (b) Liens in favor of any Subsidiary, (c) Liens on property, shares of stock or debt existing at the time of acquisition thereof (including acquisition through merger or consolidation), purchase money mortgages and construction cost mortgages existing at or incurred within 180 days of the time of acquisition thereof, (d) Liens existing on the first date on which any Notes are authenticated by the Trustee, (e) Liens under one or more credit facilities for indebtedness in an aggregate principal amount not to exceed 3% of Consolidated Net Assets at any time outstanding, and (f) any extension, renewal or replacement of any debt secured by any Liens referred to in the foregoing clauses (a) through (e), inclusive.
Limitation on Certain Liens. So long as any of the X-TRAS are outstanding, the Issuer shall not create, incur, assume or suffer to exist any Lien or any other type of arrangement intended or having the effect of conferring upon a creditor of the Issuer or any Subsidiary a preferential interest upon or with respect to any of its property of any character, including without limitation any shares of Capital Stock of Consumers or Enterprises, without making effective provision whereby the X-TRAS shall (so long as any such other 42
