Common use of Restrictions on Liens Clause in Contracts

Restrictions on Liens. The Borrower will not (a) create or incur or suffer to be created or incurred or to exist any Lien upon any of its property or assets of any character whether now owned or hereafter acquired, or upon the income or profits therefrom; (b) transfer any of such property or assets or the income or profits therefrom for the purpose of subjecting the same to the payment of Indebtedness or performance of any other obligation in priority to payment of its general creditors; (c) acquire, or agree or have an option to acquire, any property or assets upon conditional sale or other title retention or purchase money security agreement, device or arrangement; (d) suffer to exist for a period of more than thirty (30) days after the same shall have been incurred any Indebtedness or claim or demand against it that if unpaid might by law or upon bankruptcy or insolvency, or otherwise, be given any priority whatsoever over its general creditors; or (e) sell, assign, pledge or otherwise transfer any “receivables” as defined in clause (g) of the definition of the term “Indebtedness”, with or without recourse; provided, that the Borrower may create or incur or suffer to be created or incurred or to exist:

Restrictions on Liens. The Borrower Company will not not, directly or indirectly, (ai) create or incur or suffer to be created or incurred or to exist any Lien encumbrance, mortgage, pledge, lien, charge or other security interest of any kind upon any of its property or assets of any character character, whether now owned or hereafter acquired, or upon the income or profits therefrom; or (bii) enter into or permit to exist any arrangement or agreement which prohibits it from creating such encumbrances, mortgages, pledges, liens, charges or other security interests; or (iii) transfer any of such property or assets or the income or profits therefrom for the purpose purposes of subjecting the same to the payment of Indebtedness or performance of any other obligation in priority to payment of its general creditors; or (civ) acquire, acquire or agree or have an option to acquire, acquire any property or assets upon conditional sale or other title retention or purchase money security agreement, device or arrangementarrangement (including a Capitalized Lease); or (dv) suffer to exist for a period of more than thirty (30) days after the same shall have been incurred any Indebtedness or claim or demand against it that which if unpaid might by law or upon bankruptcy or insolvency, or otherwise, be given any priority whatsoever over its general creditors; or (evi) sell, assign, pledge or otherwise transfer for security any “receivables” as defined in clause (g) of the definition of the term “Indebtedness”its accounts, contract rights, general intangibles, or chattel paper, with or without recourserecourse (the foregoing items or actions listed in clauses (i) through (vi) above being sometimes referred to collectively herein as "Liens"); provided, however, that the Borrower Company may create or incur or suffer to be created or incurred or to existexist the following Liens, which shall be "Permitted Liens":

Restrictions on Liens. The Borrower None of the Borrowers will, nor will not permit any of its Subsidiaries to, (a) create or incur or suffer to be created or incurred or to exist any Lien upon any of its property or assets of any character whether now owned or hereafter acquired, or upon the income or profits therefrom; (b) transfer any of such property or assets or the income or profits therefrom for the purpose of subjecting the same to the payment of Indebtedness or performance of any other obligation in priority to payment of its general creditors; (c) acquire, or agree or have an option to acquire, any property or assets upon conditional sale or other title retention or purchase money security agreement, device or arrangement; (d) suffer to exist for a period of more than thirty (30) days after the same shall have been incurred any Indebtedness or claim or demand against it that if unpaid might by law or upon bankruptcy or insolvency, or otherwise, be given any priority whatsoever over its general creditors; or (e) sell, assign, pledge or otherwise transfer any “receivables” as defined in clause (g) of the definition of the term “Indebtedness”, ,” with or without recourse; provided, provided that the any Borrower or any of its Subsidiaries may create or incur or suffer to be created or incurred or to exist:

Restrictions on Liens. The Borrower will not permit any of Bairnco or any Bairnco Subsidiary to, (ai) create or incur or suffer to be created or incurred or to exist any Lien upon any of its property or assets of any character whether now owned or hereafter acquiredtheir respective Property, or upon the income or profits therefrom; (bii) transfer any of such property or assets Property or the income or profits therefrom for the purpose of subjecting the same to the payment of Indebtedness Debt or performance of any other obligation in priority to payment of its general creditors; (ciii) acquire, or agree or have an option to acquire, any property or assets upon conditional sale or other title retention or purchase money security agreement, device or arrangement; (div) suffer to exist for a period of more than thirty (30) days after the same shall have been incurred any Indebtedness Debt or claim or demand against it that if unpaid might by law or upon bankruptcy or insolvency, or otherwise, be given any priority whatsoever over its general creditors; or (ev) sell, assign, pledge or otherwise transfer any “receivables” as defined in clause (g) of the definition of the term “Indebtedness”accounts, contract rights, general intangibles, chattel paper or instruments, with or without recourse; provided, provided that the Borrower Bairnco and any Bairnco Subsidiary may create or incur or suffer to be created or incurred or to exist:exist (the "PERMITTED LIENS"):

Restrictions on Liens. The Borrower None of the Borrowers will, nor will not permit any of its Subsidiaries to, (a) create or incur or suffer to be created or incurred or to exist any Lien upon any of its property or assets of any character whether now owned or hereafter acquired, or upon the income or profits therefrom; (b) transfer any of such property or assets or the income or profits therefrom for the purpose of subjecting the same to the payment of Indebtedness or performance of any other obligation in priority to payment of its general creditors; (c) acquire, or agree or have an option to acquire, any property or assets upon conditional sale or other title retention or purchase money security agreement, device or arrangement; (d) suffer to exist for a period of more than thirty (30) days after the same shall have been incurred any Indebtedness or claim or demand against it that if unpaid might by law or upon bankruptcy or insolvency, or otherwise, be given any priority whatsoever over its general creditors; or (e) sell, assign, pledge or otherwise transfer any “"receivables” " as defined in clause (g) of the definition of the term “"Indebtedness”, ," with -90- or without recourse; provided, provided that the any Borrower or any of its Subsidiaries may create or incur or suffer to be created or incurred or to exist:

Restrictions on Liens. The Borrower will not, and will not permit any of the BNS Subsidiaries to, (ai) create or incur or suffer to be created or incurred or to exist any Lien upon any of its property or assets of any character whether now owned or hereafter acquiredProperty, or upon the income or profits therefrom; (bii) transfer any of such property or assets Property or the income or profits therefrom for the purpose of subjecting the same to the payment of Indebtedness Debt or performance of any other obligation in priority to payment of its general creditors; (ciii) acquire, or agree or have an option to acquire, any property or assets upon conditional sale or other title retention or purchase money security agreement, device or arrangement; (div) suffer to exist for a period of more than thirty (30) days after the same shall have been incurred any Indebtedness Debt or claim or demand against it that if unpaid might by law or upon bankruptcy or insolvency, or otherwise, be given any priority whatsoever over its general creditors; or (ev) sell, assign, pledge or otherwise transfer any “receivables” as defined in clause (g) of the definition of the term “Indebtedness”accounts, contract rights, general intangibles, chattel paper or instruments, with or without recourse; provided, provided that the Borrower and any Subsidiary of the Borrower may create or incur or suffer to be created or incurred or to exist:exist (the "Permitted Liens"):

Restrictions on Liens. The Borrower None of the Borrowers will not (ai) create or incur or suffer to be created or incurred or to exist any Lien lien, encumbrance, mortgage, pledge, charge, restriction or other security interest of any kind upon any of its property or assets of any character whether now owned or hereafter acquired, or upon the income or profits therefrom; (bii) transfer any of such property or assets or the income or profits therefrom for the purpose of subjecting the same to the payment of Indebtedness or performance of any other obligation in priority to payment of its general creditors; (ciii) acquire, or agree or have an option to acquire, any property or assets upon conditional sale or other title retention or purchase money security agreement, device or arrangement; or (div) suffer to exist for a period of more than thirty (30) days after the same shall have been incurred any Indebtedness or claim or demand against it that if unpaid might by law or upon bankruptcy or insolvency, or otherwise, be given any priority whatsoever over its general creditors; or (e) sell, assign, pledge or otherwise transfer any “receivables” as defined in clause (g) of the definition of the term “Indebtedness”, with or without recourse; provided, PROVIDED that the Borrower Borrowers may create or incur or suffer to be created or incurred or to exist:

Restrictions on Liens. The Borrower Company will not (ai) create or incur or suffer to be created or incurred or to exist any Lien Liens upon any of its property or assets of any character whether now owned or hereafter acquired, or upon the income or profits therefrom; (bii) transfer any of such property or assets or the income or profits therefrom for the purpose of subjecting the same to the payment of Indebtedness or performance of any other obligation in priority to payment of its general creditors; (ciii) acquire, or agree or have an option to acquire, any property or assets upon conditional sale or other title retention or purchase money security agreement, device or arrangement; (div) suffer to exist for a period of more than thirty (30) days after the same shall have been incurred any Indebtedness or claim or demand against it that if unpaid might by law or upon bankruptcy or insolvency, or otherwise, be given any priority whatsoever over its general creditors; or (ev) sell, assign, pledge or otherwise transfer any “receivables” as defined in clause (g) of the definition of the term “Indebtedness”accounts, contract rights, general intangibles, chattel paper or instruments, with or without recourse; provided, PROVIDED that the Borrower Company may create or incur or suffer to be created or incurred or to exist:

Restrictions on Liens. The Borrower will and its Subsidiaries shall not (ai) create or incur or suffer to be created or incurred or to exist any Lien upon any of its property or assets of any character whether now owned or hereafter acquiredtheir respective Property, or upon the income or profits therefrom; (bii) transfer any of such property or assets Property or the income or profits therefrom for the purpose of subjecting the same to the payment of Indebtedness Debt or performance of any other obligation in priority to payment of its general creditors; (ciii) except in the Ordinary Course of Business, acquire, or agree or have an option to acquire, any property or assets upon conditional sale or other title retention or purchase money security agreement, device or arrangement; (div) suffer to exist for a period of more than thirty (30) days after the same shall have been incurred any Indebtedness Debt or claim or demand against it that if unpaid might by law or upon bankruptcy or insolvency, or otherwise, be given any priority whatsoever over its general creditors; or (ev) except in the Ordinary Course of Business, sell, assign, pledge or otherwise transfer any “receivables” as defined in clause (g) of the definition of the term “Indebtedness”accounts, contract rights, general intangibles, chattel paper or instruments, with or without recourse; provided, provided that the Borrower and its Subsidiaries may create or incur or suffer to be created or incurred or to exist:exist (the “Permitted Liens”):

Restrictions on Liens. The No Borrower will not (a) create or incur or suffer to be created or incurred or to exist any Lien lien, encumbrance, mortgage, pledge, charge, restriction or other security interest of any kind upon any of its property or assets of any character character, whether now owned or hereafter acquired, or upon the income or profits therefrom; (b) transfer any of such property or assets or the income or profits therefrom for the purpose of subjecting the same to the payment of Indebtedness or performance of any other obligation in priority to payment of its general creditors; (c) acquire, or agree or have an option to acquire, any property or assets upon conditional sale or other title retention or purchase money security agreement, device or arrangement; (d) suffer to exist for a period of more than thirty (30) 30 days after the same shall have been incurred any Indebtedness or claim or demand against it that if unpaid might by law or upon bankruptcy or insolvency, or otherwise, be given any priority whatsoever over its general creditors; or (e) sell, assign, pledge or otherwise transfer any “receivables” as defined in clause (g) of the definition of the term “Indebtedness”accounts, contract rights, general intangibles, chattel paper or instruments, with or without recourse; provided, provided that the any Borrower may create or incur or suffer to be created or incurred or to exist:

Restrictions on Liens. The Borrower Neither the Company nor any of its Subsidiaries will not (a) create or incur or suffer to be created or incurred or to exist any Lien or other security interest of any kind upon any of its property or assets of any character whether now owned or hereafter acquired, or upon the income or profits therefrom; (b) or transfer any of such property or assets or the income or profits therefrom for the purpose of subjecting the same to the payment of Indebtedness or performance of any other obligation in priority to payment of its general creditors; (c) or acquire, or agree or have an option to acquire, any property or assets upon conditional sale or other title retention or purchase money security agreement, device or arrangement; (d) or suffer to exist for a period of more than thirty (30) 30 days after the same shall have been incurred any Indebtedness or claim or demand against it that which if unpaid might by law or upon bankruptcy or insolvency, or otherwise, be given any priority whatsoever over its general creditorscreditors (other than those claims which the Company or such Subsidiary is contesting in good faith by appropriate proceedings and as to which the Company or such Subsidiary shall have set aside on its books, adequate reserves with respect thereto); or (e) sell, assign, pledge or otherwise transfer any “receivables” as defined in clause (g) of the definition of the term “Indebtedness”accounts, contract rights, general intangibles, chattel paper or instruments with or without recourse; provided, however, that the Borrower Company and its Subsidiaries may create or incur or suffer to be created or incurred or to exist:exist any of the following ("Permitted Liens"):

Restrictions on Liens. The Borrower None of the Borrowers will not (ai) create or incur or suffer to be created or incurred or to exist any Lien lien, encumbrance, mortgage, pledge, charge, restriction or other security interest of any kind upon any of its property or assets of any character whether now owned or hereafter acquired, or upon the income or profits therefrom; (bii) transfer any of such property or assets or -58- the income or profits therefrom for the purpose of subjecting the same to the payment of Indebtedness or performance of any other obligation in priority to payment of its general creditors; (ciii) acquire, or agree or have an option to acquire, any property or assets upon conditional sale or other title retention or purchase money security agreement, device or arrangement; or (div) suffer to exist for a period of more than thirty (30) days after the same shall have been incurred any Indebtedness or claim or demand against it that if unpaid might by law or upon bankruptcy or insolvency, or otherwise, be given any priority whatsoever over its general creditors; or (e) sell, assign, pledge or otherwise transfer any “receivables” as defined in clause (g) of the definition of the term “Indebtedness”, with or without recourse; provided, PROVIDED that the Borrower Borrowers may create or incur or suffer to be created or incurred or to exist:

Restrictions on Liens. The Borrower None of the Lessees and the Guarantors will, nor will not permit any of its Subsidiaries to, (a) create or incur or suffer to be created or incurred or to exist any Lien upon any of its property or assets of any character whether now owned or hereafter acquired, or upon the income or profits therefrom; (b) transfer any of such property or assets or the income or profits therefrom for the purpose of subjecting the same to the payment of Indebtedness or performance of any other obligation in priority to payment of its general creditors; (c) acquire, or agree or have an option to acquire, any property or assets upon conditional sale or other title retention or purchase money security agreement, device or arrangement; (d) suffer to exist for a period of more than thirty (30) days after the same shall have been incurred any Indebtedness or claim or demand against it that if unpaid might by law or upon bankruptcy or insolvency, or otherwise, be given any priority whatsoever over its general creditors; or (e) sell, assign, pledge or otherwise transfer any “"receivables” " as defined in clause (g) of the definition of the term “"Indebtedness”, ," with or without recourse; providedprovided that any Lessee, that the Borrower any Guarantor or any of its Subsidiaries may create or incur or suffer to be created or incurred or to exist:

Restrictions on Liens. The Borrower will not, and will not permit any of its Subsidiaries, other than Excluded Subsidiaries, to, (a) create or incur or suffer to be created or incurred or to exist any Lien lien, encumbrance, mortgage, pledge, charge, restriction or other security interest of any kind upon any of its property or assets of any character whether now owned or hereafter acquired, or upon the income or profits therefrom; (b) transfer any of such property or assets or the income or profits therefrom for the purpose of subjecting the same to the payment of Indebtedness or performance of any other obligation in priority to payment of its general creditors; (c) acquire, or agree or have an option to acquire, any property or assets upon conditional sale or other title retention or purchase money security agreement, device or arrangement; (d) suffer to exist for a period of more than thirty (30) days after the same shall have been incurred any Indebtedness or claim or demand against it that if unpaid might by law or upon bankruptcy or insolvency, or otherwise, be given any priority whatsoever over its general creditors; or (e) sell, assign, pledge or otherwise transfer any “receivables” as defined in clause (g) of the definition of the term “Indebtedness”accounts, contract rights, general intangibles, chattel paper or instruments, with or without recourse; provided, provided that the Borrower and any Subsidiary of the Borrower may create or incur or suffer to be created or incurred or to exist: