NEGATIVE Clause Samples
A "Negative" clause typically restricts or prohibits certain actions or behaviors by one or more parties under a contract. For example, it may prevent a party from engaging in specific activities, such as competing with the other party, disclosing confidential information, or making public statements about the agreement. The core function of this clause is to protect the interests of the parties by clearly outlining forbidden conduct, thereby reducing the risk of disputes and ensuring compliance with agreed-upon boundaries.
NEGATIVE. COVENANTS For so long as this Agreement is in effect, the Parent and the Borrower, as applicable, shall comply with the following covenants: Section
NEGATIVE. COVENANTS For so long as this Agreement and the Commitments are in effect and any Obligations are outstanding, unless the Requisite Lenders (or, if required pursuant to Section 12.6, all of the Lenders) shall otherwise consent in the manner set forth in Section 12.6, the REIT Guarantor or the Borrower, as applicable, shall comply with the following covenants: Section
NEGATIVE. From and including the Effective Date until Closing or the earlier termination of this Agreement, neither Seller nor Lease Guarantor shall do, cause, permit or authorize any of the following, unless, in each case, Buyer’s prior written consent has been obtained: (i) enter into any new, or amend any existing, lease, easement, contract or agreement affecting or encumbering a Location (or any part thereof); (ii) assign, transfer, convey, hypothecate, create a security interest in or lien upon, grant any easement or right-of-way, or otherwise further encumber any part of a Location or any interest therein or take any other action that would affect the title to any part of a Location as it exists as of the Effective Date; or (iii) amend or otherwise modify the Organizational Documents or structure of Seller or Lease Guarantor in a manner that is adverse to Buyer or the transactions contemplated by this Agreement, any Lease, or any Lease Guaranty, and provided further that no amendment or modifications to the Organizational Documents or structure of Seller or Lease Guarantor shall be made after the date that is five (5) business days prior to the Closing Date.
NEGATIVE. Between the date hereof and the Closing Date, Seller will not, without prior written consent of Buyer:
(a) Sell, assign, lease, encumber, mortgage or otherwise transfer or dispose of any asset or property of the Stations, except in the normal and usual course of business:
(b) Cancel, modify or in any way impair any Essential Contracts or, except in the ordinary course of the Stations' business, any other Contract;
(c) Enter into any new Air Time Agreement, except for agreements which:
(1) Are made in the ordinary course for the benefit of the Stations and substantially in accordance with past practice of the Stations; and
(2) Have a term not to exceed ninety (90) days.
(d) Increase the compensation or bonuses or to become payable to any of Stations' employees, except in accordance with existing employment practices, or effect any changes in personnel policies or employee benefits except in accordance with existing employment practices:
(e) Enter into any new Barter Transactions; or
(f) Violate any rules, regulations or policies of the FCC or any provisions of the Communications Act of 1934, as amended, or any provisions of any of the FCC Licenses, or cause or permit any of the FCC Licenses to lapse, to be modified in any adverse respect or to become impaired in any manner;
(g) Take or refrain from taking any action that would cause the face amount of Seller's liabilities to exceed the fair market value of its assets or render Seller with inadequate working capitol with which to conduct its business or unable to pay its debts as they mature.
NEGATIVE. COVENANTS Borrower hereby agrees that it shall not, and it shall not per- mit any of its Subsidiaries (other than any Unrestricted Subsidiaries, ex- cept as expressly specified below) to, directly or indirectly, so long as the Commitments remain in effect or any Loan, Note or L/C Obligation re- mains outstanding and unpaid, any amount remains available to be drawn un- der any Letter of Credit (unless cash in an amount equal to such amount has been deposited to a cash collateral account established by the Administra- tive Agent) or any other amount is owing to any Lender or the Administra- tive Agent hereunder or under any other Credit Document (it being under- stood that each of the permitted exceptions to each of the covenants in this Section 8 is in addition to, and not overlapping with, any other of such permitted exceptions except to the extent expressly provided): 8.
NEGATIVE. The drug or alcohol test did not identify prohibited levels of drugs or alcohol in the Associate’s system. This result means the Associate passed the drug or alcohol test and is eligible to perform services on the Company’s behalf (subject to other successful prescreen completion).
NEGATIVE. COVENANTS Until all principal of and interest on each Loan and all fees and other amounts payable hereunder have been paid in full (other than unmatured, surviving contingent indemnification obligations not yet due and payable), all Commitments have been terminated and all Letters of Credit have been cancelled or have expired, the Company covenants and agrees with the Lenders that: Section
NEGATIVE. From and including the Effective Date until Closing or the earlier termination of this Agreement, neither Seller nor Lease Guarantor shall do, cause, permit or authorize any of the following, unless, in each case, Buyer’s prior written consent has been obtained: (i) enter into any new lease, contract or agreement affecting or encumbering the Property (or any part thereof); (ii) assign, transfer, convey, hypothecate, create a security interest in or lien upon, grant any easement or right-of-way, or otherwise further encumber any part of the Property or any interest therein or take any other action that would affect the title to any part of the Property as it exists as of the Effective Date; or (iii) amend or otherwise modify the Organizational Documents or structure of Seller or Lease Guarantor in a manner that is adverse to Buyer or the transactions contemplated by this Agreement, the Lease, the Parent Guaranty or Affiliate Guaranty, and provided that a copy of any such amended or modified Organizational Document be provided to Buyer at least five (5) business days prior to the Closing Date, and provided further that no amendment or modifications to the Organizational Documents or structure of Seller or Lease Guarantor shall be made after the date that is five (5) business days prior to the Closing Date.
NEGATIVE. COVENANTS Borrower covenants and agrees that, until full performance and satisfaction, and indefeasible payment in full in cash, of all the Obligations and termination of this Agreement:
NEGATIVE. COVENANTS Borrower hereby covenants and agrees with Lender that the Borrower will not: 8.