ENCUMBRANCES AND LIENS. The Borrower will not create, assume or suffer to exist any Lien (other than for taxes not delinquent and for taxes and other items being contested in good faith) on Property of any kind, whether real, personal or mixed, now owned or hereafter acquired, or upon the income or profits thereof, except for (i) minor encumbrances and easements on real property which do not materially affect its market value, (ii) existing Liens on the Borrower's personal property; (iii) future purchase money security interests encumbering only the property purchased; (iv) statutory liens of bankers, carriers, warehousemen, mechanics, materialmen, and other similar Liens imposed by law, which are incurred in the ordinary course of business for sums not more than 30 days delinquent or which are being contested in good faith by appropriate proceedings; (v) deposits made in the ordinary course of business to secure liability to insurance carriers; (vi) attachment and judgment Liens securing claims less than $1,000,000 in the aggregate (excluding for purposes of said calculation any such Liens for which execution has been stayed, payment is covered in full by insurance, or the Borrower is prosecuting an appeal in good faith by appropriate proceedings); and (vii) monetary obligations of the Borrower under any leasing or similar arrangement which, in accordance with Agreement Accounting Principles, is classified as a Capitalized Lease. Notwithstanding the foregoing: (i) the Borrower shall not at any time encumber any real property with a purchase money security interest if (A) immediately after giving effect to such encumbrances, the purchase money Debt secured by said encumbrance will exceed 75% of the fair market value of the Property encumbered by the encumbrance or (B) immediately after giving effect to such encumbrance, the aggregate Debt of the Borrower secured by purchase money security interests in real property will exceed 5% of total assets of the Borrower and its Subsidiaries on a consolidated basis; and (ii) the Borrower shall not at any time encumber its Property with an additional Lien or encumbrance if, immediately after giving effect to such encumbrance, the Borrower would be required to file an SEC Report. 6.23
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ENCUMBRANCES AND LIENS. The Borrower will not, and will not permit any Subsidiary to, create, assume or suffer to exist any Lien (other than for taxes not delinquent and for taxes and other items being contested in good faith, with appropriate reserves maintained) on Property of any kind, whether real, personal or mixed, now owned or hereafter acquiredacquired by the Borrower or any of its Subsidiaries, or upon the income or profits thereof, except for (i) minor encumbrances and easements on real property which do not materially affect its market value, ; (ii) existing Liens on the Borrower's personal propertyProperty as set forth on Schedule 4; (iii) future purchase purchase-money security interests encumbering only the property purchasedProperty purchased or security interests relating to any refinancing of any such purchase-money security interests, as long as the Lien encumbers only the original Property and such additional related personal Property acquired in the ordinary course of the Borrower's or such Subsidiary's business; (iv) statutory liens of bankers, carriers, warehousemen, mechanics, materialmen, and other similar Liens imposed by law, which are incurred in the ordinary course of business for sums not more than 30 days delinquent or which are being contested in good faith by appropriate proceedings; (v) deposits made in the ordinary course of business to secure liability to insurance carriers; (vi) attachment and judgment Liens securing claims less than $1,000,000 5,000,000 in the aggregate (excluding for purposes of said calculation any such Liens for which execution has been stayed, payment is covered in full by insurance, or the Borrower is prosecuting an appeal in good faith by appropriate proceedings); and (vii) monetary obligations of the Borrower under any leasing or similar arrangement which, in accordance with Agreement Accounting Principles, is classified as a Capitalized Lease. Notwithstanding the foregoing: ; (iviii) the Borrower shall not at any time encumber any real property with a purchase money security interest if (A) immediately after giving effect to such encumbrances, the purchase money Debt secured by said encumbrance will exceed 75% of the fair market value of the Property encumbered by the encumbrance or (B) immediately after giving effect to such encumbrance, the aggregate Debt of the Borrower secured by purchase money security interests in real property will exceed 5% of total assets of the Borrower and its Subsidiaries on a consolidated basisLiens securing non-recourse Debt; and (iiix) Liens existing on Property when it is acquired by the Borrower shall not at or any time encumber of its Property with an additional Lien or encumbrance if, immediately after giving effect to such encumbrance, the Borrower would be required to file an SEC Report. 6.23Subsidiaries.
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ENCUMBRANCES AND LIENS. The Borrower and its Subsidiaries on a ---------------------- Consolidated Basis will not create, assume or suffer to exist any Lien (other than for taxes not delinquent and for taxes and other items being contested in good faith, with appropriate reserves maintained) on Property of any kind, whether real, personal or mixed, now owned or hereafter acquiredacquired by the Borrower or any of its Subsidiaries, or upon the income or profits thereof, except for (i) minor encumbrances and easements on real property which do not materially affect its market value, (ii) existing Liens on the Borrower's personal propertyProperty as set forth on Schedule 4; (iii) future purchase money security interests encumbering only the property purchasedProperty purchased or security interests relating to any refinancing of any such purchase money security interests as long as the Lien encumbers only the original Property and such additional related personal Property acquired in the ordinary course of the Borrower's or such Subsidiary's business; (iv) statutory liens of bankers, carriers, warehousemen, mechanics, materialmen, and other similar Liens imposed by law, which are incurred in the ordinary course of business for sums not more than 30 days delinquent or which are being contested in good faith by appropriate proceedings; (v) deposits made in the ordinary course of business to secure liability to insurance carriers; (vi) attachment and judgment Liens securing claims less than $1,000,000 5,000,000 in the aggregate (excluding for purposes of said calculation any such Liens for which execution has been stayed, payment is covered in full by insurance, or the Borrower is prosecuting an appeal in good faith by appropriate proceedings); and (vii) monetary obligations of the Borrower under any leasing or similar arrangement which, in accordance with Agreement Accounting Principles, is classified as a Capitalized Lease. Notwithstanding the foregoing: ; (iviii) the Borrower shall not at any time encumber any real property with a purchase money security interest if (A) immediately after giving effect to such encumbrances, the purchase money Debt secured by said encumbrance will exceed 75% of the fair market value of the Property encumbered by the encumbrance or (B) immediately after giving effect to such encumbrance, the aggregate Debt of the Borrower secured by purchase money security interests in real property will exceed 5% of total assets of the Borrower and its Subsidiaries on a consolidated basisLiens securing non-recourse Debt; and (iiix) Liens existing on Property when it is acquired by the Borrower shall not at or any time encumber of its Property with an additional Lien or encumbrance if, immediately after giving effect to such encumbrance, the Borrower would be required to file an SEC Report. 6.23Subsidiaries.
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ENCUMBRANCES AND LIENS. The Borrower Borrowers and their Subsidiaries on a Consolidated Basis will not create, assume or suffer to exist any Lien (other than for taxes not delinquent and for taxes and other items being contested in good faith) on Property of any kind, whether real, personal or mixed, now owned or hereafter acquired, or upon the income or profits thereof, except for (i) minor encumbrances and easements on real property which do not materially affect its market value, (ii) existing Liens on the Borrower's personal propertyBorrowers' Property; (iii) future purchase money security interests encumbering only the property purchased; (iv) statutory liens of bankers, carriers, warehousemen, mechanics, materialmen, and other similar Liens imposed by law, which are incurred in the ordinary course of business for sums not more than 30 days delinquent or which are being contested in good faith by appropriate proceedings; (v) deposits made in the ordinary course of business to secure liability to insurance carriers; (vi) attachment and judgment Liens securing claims less than $1,000,000 500,000 in the aggregate (excluding for purposes of said calculation any such Liens for which execution has been stayed, payment is covered in full by insurance, or the Borrower is Borrowers are prosecuting an appeal in good faith by appropriate proceedings); and (vii) monetary obligations of the Borrower Borrowers under any leasing or similar arrangement which, in accordance with Agreement Accounting Principles, is classified as a Capitalized LeaseLease and (viii) Liens existing on Property at the time such Property is acquired by either Borrower or their Subsidiaries. Notwithstanding the foregoing: (i) the Neither Borrower shall not at grant or agree to any time encumber negative pledge provision in any real property with a purchase money security interest if (A) immediately after giving effect to such encumbrances, the purchase money Debt secured by said encumbrance will exceed 75% of the fair market value of the Property encumbered by the encumbrance or (B) immediately after giving effect to such encumbrance, the aggregate Debt of the Borrower secured by purchase money security interests in real property will exceed 5% of total assets of the Borrower and its Subsidiaries on a consolidated basis; and (ii) the Borrower shall not at any time encumber its Property with an additional Lien or encumbrance if, immediately after giving effect to such encumbrance, the Borrower would be required to file an SEC Report. 6.23other agreements evidencing Debt.
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ENCUMBRANCES AND LIENS. The Borrower will not, and will not permit ---------------------- any Subsidiary to, create, assume or suffer to exist any Lien (other than for taxes not delinquent and for taxes and other items being contested in good faith) on Property of any kind, whether real, personal or mixed, now owned or hereafter acquired, or upon the income or profits thereof, except for (i) minor encumbrances and easements on real property which do not materially affect its market value, ; (ii) existing Liens on the Borrower's personal property; (iii) future purchase money security interests encumbering only the property purchased; (iviii) statutory liens of bankers, carriers, warehousemen, mechanics, materialmen, and other similar Liens imposed by law, which are incurred in the ordinary course of business for sums not more than 30 days delinquent or which are being contested in good faith by appropriate proceedings; (viv) deposits made in the ordinary course of business to secure liability to insurance carriers; (viv) attachment and judgment Liens securing claims less than $1,000,000 in the aggregate (excluding for purposes of said calculation any such Liens for which execution has been stayed, payment is covered in full by insurance, or the Borrower is prosecuting an appeal in good faith by appropriate proceedings); and (viivi) monetary obligations of the Borrower under any leasing or similar arrangement which, in accordance with Agreement Accounting Principles, is classified as a Capitalized Lease. Notwithstanding the foregoing: (i) the Borrower shall not (and shall not permit any Subsidiary to) at any time encumber any real property with a purchase money security interest if (A) immediately after giving effect to such encumbrances, the purchase money Debt secured by said encumbrance will exceed 75% of the fair market value of the Property encumbered by the encumbrance or (B) immediately after giving effect to such encumbrance, the aggregate Debt of the Borrower secured by purchase money security interests in real property will exceed 5% of total assets of the Borrower and its Subsidiaries on a consolidated basis; and (ii) the Borrower shall not at any time encumber its Property with an additional Lien or encumbrance if, immediately after giving effect to such encumbrance, the Borrower would be required to file an SEC Report. 6.23.
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ENCUMBRANCES AND LIENS. The Borrower will not create, assume or suffer to exist any Lien (other than for taxes not delinquent and for taxes and other items being contested in good faith) on Property of any kind, whether real, personal or mixed, now owned or hereafter acquired, or upon the income or profits thereof, except for (i) minor encumbrances and easements on real property which do not materially affect its market value, (ii) existing Liens on the Borrower's personal property; (iii) future purchase money security interests encumbering only the property purchased; (iv) statutory liens of bankers, carriers, warehousemen, mechanics, materialmen, and other similar Liens imposed by law, which are incurred in the ordinary course of business for sums not more than 30 days delinquent or which are being contested in good faith by appropriate proceedings; (v) deposits made in the ordinary course of business to secure liability to insurance carriers; (vi) attachment and judgment Liens securing claims less than $1,000,000 in the aggregate (excluding for purposes of said calculation any such Liens for which execution has been stayed, payment is covered in full by insurance, or the Borrower is prosecuting an appeal in good faith by appropriate proceedings); and (vii) monetary obligations of the Borrower under any leasing or similar arrangement which, in accordance with Agreement Accounting Principles, is classified as a Capitalized Lease. Notwithstanding the foregoing: (i) the Borrower shall not at any time encumber any real property with a purchase money security interest if (A) immediately after giving effect to such encumbrances, the purchase money Debt secured by said encumbrance will exceed 75% of the fair market value of the Property encumbered by the encumbrance or (B) immediately after giving effect to such encumbrance, the aggregate Debt of the Borrower secured by purchase money security interests in real property will exceed 5% of total assets of the Borrower and its Subsidiaries on a consolidated basis; and (ii) the Borrower shall not at any time encumber its Property with an additional Lien or encumbrance if, immediately after giving effect to such encumbrance, the Borrower would be required to file an SEC Report. 6.23.
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