Neiman Marcus 2003 Annual Report Download - page 156

(2) to the best of his knowledge, the Company has fulfilled all its obligations under this Indenture and has
complied with all conditions and covenants on its part contained in this Indenture through such year, or, if there has been a
default in the fulfillment of any such obligation, covenant or condition, specifying each such default known to him and the
nature and status thereof.
For the purpose of this Section 1004, default and compliance shall be determined without regard to any grace period
or requirement of notice provided pursuant to the terms of this Indenture.
Section 10.15. Legal Existence. Subject to Article Eight the Company will do or cause to be done all things
necessary to preserve and keep in full force and effect its legal existence.
Section 10.16. Limitation on Liens. The Company shall not create, assume or suffer to exist any Lien upon any
Principal Property of the Company or any Restricted Subsidiary or shares of Capital Stock or indebtedness of any Subsidiary
to secure any debt of any Person, or permit any Restricted Subsidiary so to do, without making effective provision whereby
the Securities then outstanding and having the benefit of this Section shall be secured by the Lien equally and ratably with
such debt for so long as such debt shall be so secured, except that the foregoing shall not prevent the Company or any
Restricted Subsidiary from creating, assuming or suffering to exist Liens of the following character:
(1) with respect to any series of Securities, any Lien existing on the date of issuance of the series;
(2) any Lien existing on property owned or leased by, or shares of capital stock or indebtedness of, a
Person at the time it becomes a Restricted Subsidiary;
(3) any Lien existing on property at the time of the acquisition or lease thereof by the Company or a
Restricted Subsidiary;
(4) any Lien on property of a corporation existing at the time such corporation is merged or consolidated
with the Company or a Restricted Subsidiary or at the time of a sale, lease or other disposition of the properties of a
corporation as an entirety or substantially as an entirety to the Company or a Restricted Subsidiary;
(5) any Lien to secure any debt on capital stock, property or assets incurred prior to, at the time of, or
within 180 days after, or pursuant to financing arrangements for which a firm commitment is made by a bank, insurance
company or other lender or investor (not including the Company or any Restricted Subsidiary) within 180 days after, the
acquisition of capital stock, property or assets for the purpose of financing all or any part of the purchase price thereof;
(6) any Lien to secure any debt incurred prior to, at the time of, or within 180 days after, or pursuant to
financing arrangements for which a firm commitment is made by a bank, insurance company or other lender or investor (not
including the Company or any Restricted Subsidiary) within 180 days after, the completion of the construction and
commencement of commercial operation, alteration, repair or improvement of property or assets for the purpose of financing
all or any part of the cost thereof;
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