2Negative Covenants Sample Clauses
A Negative Covenants clause restricts one or more parties from engaging in certain actions or behaviors during the term of an agreement. Typically, this clause may prohibit activities such as incurring additional debt, selling key assets, or entering into competing business arrangements without prior consent. By clearly outlining these prohibitions, the clause helps protect the interests of the other party and ensures that the agreed-upon terms and risk allocations are maintained throughout the contract period.
2Negative Covenants. As long as any Commitment or Obligations are outstanding, each Obligor shall not, and shall cause each Subsidiary not to:
2Negative Covenants. (a) Change in Borrower's Name, Principal Place of Business, Jurisdiction of Organization or Business. Borrower will not change its name or jurisdiction of organization or move its principal place of business or chief executive office except upon not less than 60 days' prior written notice to Lender. Borrower's sole business shall be the development, construction, ownership, management and sale of Timeshare Inventory in the Timeshare Project, and in such other Timeshare Project as it may develop, construct, own, manage and sell from time to time, or as may otherwise be contemplated by the Borrower’s limited liability company agreement.
2Negative Covenants. As long as any Commitments or Obligations are outstanding (other than unasserted contingent obligations not yet due and payable), Borrower shall not, and shall cause each Subsidiary not to: <->92<->
2Negative Covenants. From the date hereof until the earlier of the Effective Time and the termination of this Agreement in accordance with ARTICLE IX, except (i) as disclosed on Schedule 6.2, (ii) as required to comply with applicable Legal Requirements, (iii) as required to comply with existing Contracts, or (iv) to the extent Buyer otherwise consents in writing (which consent shall not be unreasonably withheld, conditioned or delayed), the Company will not and will cause each of the Subsidiaries to not:
(a) except for purchase orders for raw materials and components used in the manufacture of the Companies’ products entered into in the ordinary course of business, enter into any Contract with any supplier pursuant to which it has monetary or in kind obligations in excess of $50,000 in the aggregate pursuant to such Contract;
(b) directly or indirectly redeem, purchase or otherwise acquire, or authorize or issue, any of its capital stock or other securities (including, without limitation, warrants, options and other rights to acquire such capital stock or other equity securities) except as set forth in this Agreement or pursuant to the terms of any Option, employment or other agreement that contains repurchase provisions and is outstanding on the date of this Agreement;
(c) increase the base salary or bonus opportunity of any employee or make any material change to any employee benefit plan; and
(d) agree in writing to take any of the foregoing actions. Without limiting the above restrictions, Buyer acknowledges and agrees that nothing contained in this Agreement shall be construed to give Buyer or any of its Affiliates, directly or indirectly, any right to control or direct the Companies or their business prior to the Closing. Prior to the Closing, the Company shall exercise, consistent with the terms and conditions of this Agreement, complete control and supervision of its business, its Subsidiaries and of their respective businesses and operations.
2Negative Covenants. Tenant shall not do the following.
2Negative Covenants. So long as any Operative Document is in effect or the Lessee owes any amount thereunder, the Guarantor will not, and will not permit any Material Subsidiary to:
2Negative Covenants. So long as any of the Obligations or the Commitments or Letters of Credit or Bond Letters of Credit shall be outstanding, the Borrower, ▇▇▇▇▇ UK and Norwich each agrees with the Agent and the Lenders that: (A)CAPITAL STRUCTURE, MERGER, ACQUISITION OR SALE OF ASSETS. Except as otherwise permitted by the provisions of Section (C)
2Negative Covenants f C \l "2" The Borrower covenants and agrees for itself and its Subsidiaries (in which case the Borrower shall cause such Subsidiaries to take or refrain from taking the actions described below), that, so long as this Agreement shall remain in effect or any Obligation shall remain unpaid:
2Negative Covenants. Each of the Security Parties hereby covenants and undertakes with the Lenders that, from the date hereof and so long as any principal, interest or other moneys are owing in respect of this Agreement, the Note or any other Transaction Documents, it will not, without the prior written consent of the Majority Lenders (or all of the Lenders if required pursuant to Section 17.8):
(a) Liens. Create, assume or permit to exist, any mortgage, pledge, lien, charge, encumbrance or any security interest whatsoever upon any Collateral or, in respect of the Borrowers and the Guarantor, other property except:
(i) liens disclosed in Schedule III;
(ii) liens to secure Indebtedness permitted under Section 9.2(n), such liens to be limited to the vessels constructed or acquired;
(iii) liens for taxes not yet payable for which adequate reserves have been maintained;
(iv) the Mortgages, the Assignments and other liens in favor of the Security Trustee or the Lenders;
(v) liens, charges and encumbrances against the Vessels permitted to exist under the terms of the relevant Mortgage or Mortgages (as applicable);
(vi) pledges of certificates of deposit or other cash collateral securing reimbursement obligations in connection with letters of credit now or hereinafter issued for its account in connection with the establishment of its financial responsibility under 33 C.F.R. Part 130 or 46 C.F.R. Part 540, as the case may be, as the same may be amended and replaced;
(vii) pledges or deposits to secure obligations under workmen's compensation laws or similar legislation, deposits to secure public or statutory obligations, warehousemen's or other like liens, or deposits to obtain the release of such liens and deposits to secure surety, appeal or customs bonds on which it is the principal, as to all of the foregoing, only to the extent arising and continuing in the ordinary course of business; and
(viii) other liens, charges and encumbrances incidental to the conduct of its business, the ownership of its property and assets which are not more than thirty (30) days overdue and which do not in the aggregate materially detract from the value of its property or assets or materially impair the use thereof in the operation of its business;
2Negative Covenants.
(a) Encumber Property. Create, grant, assume or suffer to exist any Encumbrance upon any of its properties or assets other than Permitted Encumbrances, and as to the Guarantors only Encumbrances arising from the acquisition of property, or the improvement of property for expansion, refurbishment, repurposing, material maintenance or similar in the ordinary course of business, unless approved by the Lender.