No Debts. Without Lender’s prior written consent, the Borrower may not: (i) create, incur or permit or suffer to exist any indebtedness for borrowed money or any indebtedness, except for loans from Lender in excess of One Hundred and Twenty-Five Thousand and no/100 Dollars ($125,000.00), (ii) suffer or permit the Premises any other property, real or personal, tangible or intangible, now owned or hereafter acquired by it to be or become encumbered by any mortgage, security interest, financing statement or a lien of any kind or nature, except for those in favor of Lender, or as permitted hereunder.
Appears in 2 contracts
Sources: Loan Agreement, Loan Agreement