Additional Negative Covenants Sample Clauses
The "Additional Negative Covenants" clause restricts a party, typically the borrower in a financial agreement, from engaging in certain actions or behaviors beyond those already specified in the main agreement. These restrictions may include prohibitions on incurring additional debt, making certain investments, or selling key assets without the lender's consent. By imposing these extra limitations, the clause helps protect the interests of the lender or counterparty by reducing the risk of actions that could negatively impact the borrower's financial stability or the value of collateral.
Additional Negative Covenants. Not to, without the Bank’s written consent:
(a) Enter into any consolidation, merger, or other combination, or become a partner in a partnership, a member of a joint venture, or a member of a limited liability company.
(b) Acquire or purchase a business or its assets.
(c) Engage in any business activities substantially different from the Borrower’s present business.
(d) Liquidate or dissolve the Borrower’s business.
Additional Negative Covenants. The Corporation hereby covenants and agrees that, except with the prior written consent of the Investor, so long as any Debentures remain outstanding, it will not, and will ensure that no Subsidiary:
(a) except as expressly contemplated or permitted hereunder, purchase, buy back, redeem, retire, repurchase, cancel or otherwise acquire for cash any security of the Corporation (including, without limitation options, warrants, conversion or exchange privileges and similar rights in respect of shares), other than pursuant to the terms and conditions of any securities of the Corporation outstanding as of the date of this Subscription Agreement;
(b) makes any change to its constating documents that would reasonably be expected to have a Material Adverse Effect, including changes in their respective names without providing the Investor with at least thirty (30) days prior written notice;
(c) pays out any shareholder loans or other Indebtedness to non-arm’s length parties, except in accordance with their terms in the ordinary course of the Corporation’s business as an investment issuer, or pursuant to the terms of any Permitted Debt, consistent with past practice (for clarity, without acceleration) or enters into any transaction with any non-arm’s length parties other than on commercially reasonable terms;
(d) except as expressly contemplated or permitted hereunder, make any payment to, or declare any amounts payable to, its shareholders, affiliates or executives (other than commercially reasonable or existing contractual salaries and bonuses in the ordinary course), including, without limitation, the declaration or payment of dividend to the holders of the Corporation’s issued and outstanding Common Shares, provided however that the Corporation may make payments to the Subsidiaries and the Subsidiaries may make payments among themselves;
(e) guarantee the obligations of any other person, directly or indirectly, other than obligations permitted by this Subscription Agreement, including any Permitted Debt;
(f) enter into or become party or subject to any dissolution, winding up, reorganization, arrangement or similar transaction or proceedings, except for the dissolution or winding-up or liquidation of a non-material Subsidiary in the ordinary course of the Corporation’s business as an investment issuer; or
(g) engage in the conduct of any business other than its business as existing on the date of this Subscription Agreement or in any related, ancillary or complim...
Additional Negative Covenants. The Lessee covenants and agrees that, throughout the Term and such time as the Lessee remains in possession of the Leased Property:
Additional Negative Covenants. Not to, without the Bank’s written consent, not to be unreasonably withheld, conditioned or delayed:
(a) Enter into any consolidation, merger, or other combination.
(b) Engage in any business activities substantially different from the Borrower’s present business.
(c) Liquidate or dissolve the Borrower’s business.
(d) Voluntarily suspend the Borrower’s business for more than seven (7) days in any thirty (30) day period.
Additional Negative Covenants. The Borrower also shall comply with the additional negative covenants identified in Schedule 4 attached hereto.
Additional Negative Covenants. The Awardee shall comply with the additional negative covenants set forth in Schedule 1 hereto.
Additional Negative Covenants. Not to, without the Bank's written consent: (a) engage in any business activities substantially different from the Borrower's present business.
Additional Negative Covenants. Not to, without the Bank's written consent:
(a) Enter into any consolidation, merger, or other combination, or become a partner in a partnership, a member of a joint venture, or a member of a limited liability company.
(b) Acquire or purchase a business or its assets.
(c) Engage in any business activities substantially different from the Borrower's present business.
(d) Liquidate or dissolve the Borrower's business.
(e) Voluntarily suspend the Borrower's business for more than seven (7) days in any thirty (30) day period.
Additional Negative Covenants. The Grantee shall comply with the additional negative covenants set forth in Schedule 1 hereto.
Additional Negative Covenants. Not to, without the Bank's written consent: (a) engage in any business activities substantially different from the Borrower's present business; (