Title; negative pledge. The Borrower will: (a) hold (directly or indirectly) the legal title to, and own the entire beneficial interest in each Owner, free from all Security Interests and other interests and rights of every kind, except for those created by the Finance Documents and the effect of assignments contained in the Finance Documents and except for Permitted Security Interests; and (b) not create or permit to arise any Security Interest (except for Permitted Security Interests) over any other asset, present or future, other than Security Interests arising in the normal course of the Borrower’s business of acquiring, operating and (re)financing vessels.
Appears in 3 contracts
Sources: Loan Agreement (Capital Product Partners L.P.), Loan Agreement (Capital Product Partners L.P.), Deed of Amendment and Restatement (Capital Product Partners L.P.)