Common use of Liens and Indebtedness Clause in Contracts

Liens and Indebtedness. Pledge, mortgage or otherwise encumber, or subject to or permit to exist upon or be subjected to any lien, security interest or charge, any asset or any property of any kind or character at any time owned by the Borrowers, except: (1) liens for taxes not yet due which are being contested; (2) purchase money security interests incidental to the conduct of its business, and (3) liens and encumbrances granted to Borrowers' Senior Lender.

Liens and Indebtedness. Pledge, mortgage or otherwise encumber, or subject to or permit to exist upon or be subjected to any lien, security interest or charge, any asset or any property of any kind or character at any time owned by the BorrowersBorrower, except: (1) liens for taxes not yet due which are being contested; (2) purchase money security interests interest incidental to the conduct of its business, and (3) liens and encumbrances granted to Borrowers' Borrower's Senior LenderLenders.