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<br />SECTION 7.15. No ENCUMBRANCES. The Corporation covenants and agrees that so long <br />as the Bonds are Outstanding, the Facilities will remain free from all liens and encumbrances except: <br /> <br />(a) liens for taxes or assessments not then delinquent or if then delinquent being <br />contested, as provided in Section 5.04 hereof; <br /> <br />(b) utility, access and other easements and rights-of-way. restrictions and <br />exceptions that do not interfere with or impair the Facilities or the operation thereof; <br /> <br />(c) any mechanic's, laborer's, materialman's supplier's or vendor's lien if <br />payment is not yet due and payable or is being contested in good faith as permitted by <br />Section 3.05 hereof; <br /> <br />(d) defects, irregularities. encumbrances, easements. rights-of-way and clouds <br />on title which do not, in the opinion of Counsel satisfactory to the Lender, materially impair <br />the Facilities. <br /> <br />(Remainder aflhis page intentionally lefi blank.) <br />