In the event that the latest Content Upkeep Contract try terminated to possess causes aside from those individuals specified inside

In the event that the latest Content Upkeep Contract try terminated to possess causes aside from those individuals specified inside

(b) For any Seasoned Online Vintage Pond from Leases originated from the Provider adopting the Closure Day, the brand new aggregate relevant Collections (online of any quantity accumulated when it comes to such Apartments pursuant towards percentage out of conversion process and make use of taxes) is less than 6.5% of the aggregate related Acquisition Value of the brand new Seasoned Websites Antique Pond.

5.15 Termination of Backup Servicer. Section 7.1(o), the Company shall reasonably coordinate and reasonably cooperate with the Administrative Agent and the Lenders to timely engage a replacement Backup Servicer.

Company covenants and agrees that, until the Termination Date, Company, Seller and Parent shall perform (or cause to be performed, as applicable) all covenants in this Part six.

The organization will cause the Merchant to engage a commander credit risk administrator, stuff director and you can a financial expert in a single-hundred or so twenty (120) times of the new go out hereof, for each and every given that fairly acceptable on Management Broker

6.step 1 Indebtedness. Nothing regarding Seller, Mother otherwise Organization shall directly or indirectly, carry out, bear, suppose or guarantee, or else feel or will always be yourself or indirectly liable in accordance to almost any Indebtedness other than:

(c) solely depending on the Vendor, unsecured credit lines to invest in the purchase of Presents perhaps not to meet or exceed $5,000,100 on aggregate when the;

(d) entirely with regards to the Seller, Indebtedness consisting of delinquent insurance fees thanks to insurance companies and insurance policies brokers obtain concerning the financing out of insurance premiums throughout the typical span of providers;

(e) entirely according to the Merchant, Indebtedness comprising financial support book loans entered to your regarding the typical span of organization; and you may

(f) Indebtedness due to the newest remembering of the a financial or any other financial establishment off a check, draft or similar means in the typical course of team and you will Indebtedness regarding the ordinary course of providers according out of overdraft defenses and if you don’t to the deposit account and other typical bucks government properties.

Except pursuant towards the Borrowing from the bank Records not one of Parent, Seller or payday loans in Newport Providers shall go into one Contractual Obligations prohibiting new creation otherwise assumption of any Lien up on some of its qualities or property, whether or not now owned or hereafter acquired, besides the following Factory Studio

6.2 Liens. Not one away from Merchant, Moms and dad or Organization will individually or indirectly, would, incur, assume otherwise enable to thrive people Lien, and additionally however restricted to regarding the people change borrowing from the bank or other personal lines of credit, on the otherwise with regards to one assets otherwise advantage of every form (including people document otherwise software according of goods otherwise profile receivable) of such entity, if now possessed otherwise hereafter gotten, or any money otherwise payouts therefrom, otherwise document otherwise permit the filing out-of, otherwise permit to stay in impression, any resource report or other equivalent notice of any Lien having value to your such possessions, advantage, income or winnings according to the UCC of every Condition otherwise less than any comparable tape otherwise notice statute, except Permitted Liens.

6.3 Equitable Lien. If any of Seller, Parent or Company shall create or assume any Lien (other than a Permitted Lien) upon any of its properties or assets, whether now owned or hereafter acquired, it shall make or cause to be made effective provisions whereby the Obligations will be secured by such Lien equally and ratably with any and all other Indebtedness secured thereby as long as any such Indebtedness shall be so secured; offered, notwithstanding the foregoing, this covenant shall not be construed as a consent by Requisite Lenders to the creation or assumption of any such Lien not otherwise permitted hereby.


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