Negative Covenants of Borrower and Its Subsidiaries Sample Clauses

Negative Covenants of Borrower and Its Subsidiaries. So --------------------------------------------------- long as any Obligation (other than an Unmatured Surviving Obligation) shall remain unpaid, any Letter of Credit shall remain outstanding or any Lender shall have any Commitment hereunder, without the written consent of the Required Lenders, Borrower will not, and will not cause or permit any Subsidiary of Borrower (other than an Inactive Subsidiary) to: (a) Liens. Directly or indirectly (x) make, create, incur, assume or ----- suffer to exist any Lien upon or with respect to any part of its property or assets, whether now owned or hereafter acquired, or agree to do so; or (y) enter into any contract or agreement that in any way restricts the ability of Borrower or such Subsidiary to make, create, incur, assume or suffer to exist any Lien upon or with respect to any part of its property or assets, whether now owned or hereafter acquired, other than the following: (i) any Lien created under any Loan Document; (ii) any Lien for taxes, fees, assessments or other governmental charges which are not delinquent and remain payable without penalty or which are being contested in accordance with the provisions of Section 5.3(e); (iii) any carriers', warehousemen's, mechanics', landlords', materialmen's, repairmen's or other similar Lien arising in the ordinary course of business, the underlying claim with respect to which is not delinquent or remains payable without penalty or which is being contested in accordance with the provisions of Section 5.3(e); (iv) any Lien (other than a Lien imposed by Environmental Laws or by ERISA) on the property of Borrower or any of its Subsidiaries imposed by law, or pledges or deposits required by law pursuant to worker's compensation, unemployment insurance and other social security legislation; (v) any easement, defect, right-of-way, restriction and other similar encumbrances incurred in the ordinary course of business that do not interfere in any material respect with the business of the Loan Party whose asset is subject to such Lien; (vi) any Lien existing on the property of Borrower or its Subsidiaries on the Closing Date and set forth in Schedule 5.4(a) --------------- securing Indebtedness permitted under Section 5.4(b)(ii) and extensions, renewals, refinancings or replacements thereof; provided that (A) after giving effect to any extensions, renewals, refinancings and replacements thereof, (x) the principal amount of the Indebtedness secured thereby is not increased and ...
View Source

Related to Negative Covenants of Borrower and Its Subsidiaries

  • NEGATIVE COVENANTS OF BORROWER Until the Loan Obligations have been paid in full, Borrower shall not:

  • Financial Covenants of Borrower In the event of a conflict between this Schedule and the Loan Agreement, the terms of the Loan Agreement shall govern. Dated: ____________________

  • FINANCIAL COVENANTS OF THE BORROWER The Borrower covenants and agrees that, so long as any Loan, Unpaid Reimbursement Obligation, Letter of Credit or Note is outstanding or any Bank has any obligation to make any Loans or the Agent has any obligation to issue, extend or renew any Letters of Credit:

  • Negative Covenants of the Borrower So long as any Advance shall remain unpaid or the Liquidity Provider shall have any Maximum Commitment hereunder or the Borrower shall have any obligation to pay any amount to the Liquidity Provider hereunder, the Borrower will not appoint or permit or suffer to be appointed any successor Borrower without the prior written consent of the Liquidity Provider, which consent shall not be unreasonably withheld or delayed.

  • CERTAIN NEGATIVE COVENANTS OF THE BORROWER The Borrower covenants and agrees that, so long as any Loan, Unpaid Reimbursement Obligation, Letter of Credit or Note is outstanding or any Bank has any obligation to make any Loans or the Agent has any obligations to issue, extend or renew any Letters of Credit: