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GENERAL31747
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GENERAL31747
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Last modified
8/24/2016 7:54:42 PM
Creation date
11/23/2007 7:04:44 AM
Metadata
Fields
Template:
DRMS Permit Index
Permit No
M1977376
IBM Index Class Name
General Documents
Doc Name
SECURITY AGREEMENT
Media Type
D
Archive
No
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existing on any such future fixed assets at the time of <br />acquisition thereof (including, without limitation, capitalized <br />or finance leases) or in connection with the refinancing of the <br />existing capitalized leases with respect to specific assets, <br />provided, that, (A) no such purchase money or other mortgage, <br />lien or security interest (or capitalized or finance lease, as <br />the case may be) with respect to specific future fixed assets or <br />as refinanced shall extend to or cover any other property, other <br />than the specific fixed assets so acquired, or acquired or <br />refinanced subject to such mortgage, lien or security interest <br />(or lease) and the proceeds thereof, (B) such mortgage, lien or <br />security interest secures the obligation to pay the purchase <br />price of such specific fixed assets only (or the obligations <br />under the capitalized or finance lease), and (C) the principal <br />amount secured thereby shall not exceed one hundred (100$) <br />percent of the cost of the fixed assets so acquired; and <br />(iv) the existing liens, encumbrances or security <br />interests described on Exhibit D hereto. <br />(j) Guarantors will not, and will not permit. any <br />subsidiary to, directly or indirectly, make any loans cr advance <br />money or property to any Person, or invest in (by capital <br />contribution, dividend or otherwise) or purchase or repurchase <br />the stock or Indebtedness or all or a substantial part of the <br />assets or property of any Person, or guarantee, assume, endorse, <br />or otherwise become responsible for (directly or indirectly) the <br />indebtedness, performance, obligations or dividends of any Person <br />or agree to do any of the foregoing, except: <br />(i) guarantees in favor of Lender; <br />(ii) the endorsement of instruments for <br />collection or deposit in the ordinary course of busine::s; <br />(iii) investments by each of Guarantors and its <br />subsidiaries in the stock of any existing Subsidiary a:: of the <br />date hereof; <br />(iv) after written notice thereof to ]:,ender, <br />investments in the following instruments, which shall be pledged <br />and delivered to Lender upon Lender's reasonable reque:>t, (A) <br />marketable obligations issued or guaranteed by the United States <br />of America or an instrumentality or agency thereof, maturing not <br />more than one (1) year after the date of acquisition thereof, (B) <br />certificates of deposit or other obligations maturing not more <br />than one (1) year after the date of acquisition thereo:P issued by <br />any bank or trust company organized under the laws of +ind located <br />in the United States of America or any State thereof and having <br />capital, surplus and undivided profits of at least 5100,000,000, <br />and (C) open market commercial paper with a maturity not in <br />excess of two hundred seventy (270) days from the date of <br />acquisition thereof which have the highest credit rating by <br />- 10 <br />
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