NO LIENS OR TRANSFERS OF ACCOUNT. The Borrower agrees that it will not: (i) sell or otherwise dispose of any interest in the Letter of Credit Collateral Account or any funds held therein, or (ii) create or permit to exist any lien, security interest or other charge or encumbrances upon or with respect to the Letter of Credit Collateral Account or any funds held therein, except as provided in or contemplated by this Agreement.
Appears in 4 contracts
Samples: Credit and Security Agreement (Olympic Steel Inc), Credit and Security Agreement (Curtis Sub Inc), Credit Agreement (Om Group Inc)
NO LIENS OR TRANSFERS OF ACCOUNT. The Each Borrower agrees that it will not: (i) sell or otherwise dispose of any interest in the Letter of Credit Collateral Account or any funds held therein, or (ii) create or permit to exist any lien, security interest or other charge or encumbrances upon or with respect to the Letter of Credit Collateral Account or any funds held therein, except as provided in or contemplated by this Agreement.
Appears in 1 contract
NO LIENS OR TRANSFERS OF ACCOUNT. The Borrower Each of the Borrowers agrees that it will not: (i) sell or otherwise dispose of any interest in the Letter of Credit Collateral Account or any funds held therein, or (ii) create or permit to exist any lien, security interest or other charge or encumbrances upon or with respect to the Letter of Credit Collateral Account or any funds held therein, except as provided in or contemplated by this Agreement.
Appears in 1 contract
Samples: Credit and Security Agreement (Instron Lawrence Corp)
