Pledgors. No Pledgor shall: (a) create, incur, assume, guarantee, or suffer to exist any Liabilities, other than (i) the Obligation, (ii) trade payables created in the ordinary course of business, (iii) endorsements of negotiable instruments in the ordinary course of business, (iv) contingent Liabilities covered by reserves or insurance, and (v) equipment leases incurred in the ordinary course of business; or (b) create, incur, or suffer or permit to be created or incur or exist any Lien upon any of its Assets, except Permitted Liens.
Appears in 2 contracts
Sources: Credit Agreement (Prentiss Properties Trust/Md), Credit Agreement (Prentiss Properties Trust/Md)