Additional Negative Covenant Sample Clauses
An Additional Negative Covenant is a contractual provision that restricts a party, typically a borrower or tenant, from engaging in certain actions or activities beyond those already prohibited in the main agreement. For example, it may prevent the borrower from incurring new debt, selling key assets, or making significant changes to business operations without the lender's consent. This clause serves to protect the interests of the other party by limiting behaviors that could increase risk or undermine the value of the agreement, thereby ensuring greater control and predictability over the counterparty's actions.
Additional Negative Covenant. The following new Section 8.19 is hereby added to the Credit Agreement to read as follows:
Additional Negative Covenant. A new Paragraph 8(v) is hereby added to the Credit Agreement to read in its entirety as follows:
Additional Negative Covenant. Section 5.02 of each of ---------------------------- the Credit Agreements is amended by inserting the following new subsection (u) immediately after subsection (t) thereof:
Additional Negative Covenant. The following new Section 6.19 is added to the Loan Agreement:
Additional Negative Covenant. Borrower, Aviva Petroleum, and Aviva ---------------------------- America hereby agree that no Related Person will hereafter make any capital expenditure other than ANCF Capital Expenditures and Additional Approved Capital Expenditures.
Additional Negative Covenant. The following shall be added as an ---------------------------- additional negative covenant to Article VII:
Additional Negative Covenant. Article 6 of the Credit Agreement is amended to add immediately after Section 6.21 the following new Section 6.22:
Additional Negative Covenant. The following provision hereby is added to Section 5.02 of the Credit Agreement after subsection (h) thereof:
(i) Relationship of Aggregate Exposure to NL Industries' Liquidity. Permit the Aggregate Exposure as of December 31, 2002, or the last day of any calendar quarter thereafter, to exceed two times the sum of (a) the total aggregate amount of unrestricted cash and cash equivalents of NL Industries as of the date in question, and (b) borrowing availability of NL Industries as of the date in question under bank facilities maintained by NL Industries (to the extent such availability is not subject to dividend restrictions under the respective loan agreement)."
Additional Negative Covenant. Agri-Energy shall not make any material changes to its executive or employee compensation or benefit plans in existence as of the date hereof including, but not limited to, any compensation schedules or severance packages, on or prior to January 1, 2015, without the approval of its board of directors.
Additional Negative Covenant. Article VIII is amended to add, at the end thereof, the following Section 8.14: