Examples of Negative Pledge in a sentence
The Notes and the Coupons will constitute direct, unconditional, unsubordinated and, subject to the provisions of Condition 4 (Negative Pledge), unsecured obligations of the Issuer which will at all times rank pari passu without any preference among themselves and at least pari passu with all other outstanding unsecured and unsubordinated obligations of the Issuer, present and future, save for such obligations as may be preferred by provisions of law that are both mandatory and of general application.
Negative Pledge......................................................................................................
The Company shall not, and shall not permit any other Loan Party or any Subsidiary of any Loan Party to, permit (i) any Equity Interest in any Eligible Property Subsidiary or (ii) the Core Hotel Property with respect to any Eligible Property, to be subject to a Negative Pledge.
Negative Pledge: Each Merchant agrees not to create, incur, assume, or permit to exist, directly or indirectly, any lien on or with respect to any of the Collateral or the Cross‐Collateral, as applicable.