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. So long as at least twenty-five percent (25%) of the principal amount of Notes issued by the Company pursuant to Subscription Agreements entered into by the Company on or about the date of this Agreement are outstanding or at any time during the pendency of an Event of Default (as defined in the Note), except as described on Schedule 9(p), without the consent of the Subscribers, the Company will not and will not permit any of its Subsidiaries to directly or indirectly:
(i) create, incur, assume or suffer to exist any pledge, hypothecation, assignment, deposit arrangement, lien, charge, claim, security interest, security title, mortgage, security deed or deed of trust, easement or encumbrance, or preference, priority or other security agreement or preferential arrangement of any kind or nature whatsoever (including any lease or title retention agreement, any financing lease having substantially the same economic effect as any of the foregoing, and the filing of, or agreement to give, any financing statement perfecting a security interest under the Uniform Commercial Code or comparable law of any jurisdiction) (each, a “Lien”) upon any of its property, whether now owned or hereafter acquired except for (i) the Excepted Issuances (as defined in Section 12(a) hereof), (ii) (a) Liens imposed by law for taxes that are not yet due or are being contested in good faith and for which adequate reserves have been established in accordance with generally accepted accounting principles; (b) carriers’, warehousemen’s, mechanics’, material men’s, repairmen’s and other like Liens imposed by law, arising in the ordinary course of business and securing obligations that are not overdue by more than 30 days or that are being contested in good faith and by appropriate proceedings; (c) pledges and deposits made in the ordinary course of business in compliance with workers’ compensation, unemployment insurance and other social security laws or regulations; (d) deposits to secure the performance of bids, trade contracts, leases, statutory obligations, surety and appeal bonds, performance bonds and other obligations of a like nature, in each case in the ordinary course of business; (e) Liens created with respect to the financing of the purchase of new property in the ordinary course of the Company’s business up to the amount of the purchase price of such property, or (f) easements, zoning restrictions, rights-of-way and similar encumbrances on real property imposed by law or arisin...
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 any Obligor's business.
(e) Voluntarily suspend its 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; (