Common use of Borrower Negative Covenants Clause in Contracts

Borrower Negative Covenants. Each Borrower and Operating Lessee covenants and agrees that, until payment in full of the Indebtedness, it will not do, directly or indirectly, any of the following unless Lender consents thereto in writing: (A) Liens on the Property. Incur, create, assume, become or be liable in any manner with respect to, or permit to exist, any Lien with respect to any Individual Property or any portion thereof, except: (i) Liens in favor of Lender, and (ii) the Permitted Encumbrances.

Appears in 11 contracts

Samples: Loan Agreement (Ashford Hospitality Trust Inc), Loan Agreement (Ashford Hospitality Trust Inc), Loan Agreement (Ashford Hospitality Trust Inc)

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Borrower Negative Covenants. Each Borrower and Operating Lessee covenants and agrees that, until payment in full of the Indebtedness, it will not do, directly or indirectly, any of the following unless Lender consents thereto in writing: (Aa) Liens on the Property. Incur, create, assume, become or be liable in any manner with respect to, or permit to exist, any Lien with respect to any Individual Property or any portion thereof, except: (i) Liens in favor of Lender, and (ii) the Permitted Encumbrances.

Appears in 3 contracts

Samples: Loan Agreement, Loan Agreement (Ashford Hospitality Trust Inc), Loan Agreement (Ashford Hospitality Trust Inc)

Borrower Negative Covenants. Each Borrower and Operating Lessee covenants and agrees that, until payment in full of the Indebtedness, it will not do, directly or indirectly, any of the following unless Lender consents thereto in writing: (A) Liens on the Property. Incur, create, assume, become or be liable in any manner with respect to, or permit to exist, any Lien with respect to any Individual Property or any portion thereof, except: (i) Liens in favor of Lender, and (ii) the Permitted Encumbrances.

Appears in 3 contracts

Samples: Loan Agreement (Ashford Hospitality Trust Inc), Loan Agreement (Ashford Hospitality Trust Inc), Loan Agreement (Ashford Hospitality Trust Inc)

Borrower Negative Covenants. Each Borrower and Operating Lessee covenants and agrees that, until payment in full of the Indebtedness, it will not do, directly or indirectly, any of the following unless Lender consents thereto in writing: (A) Liens on the Mortgaged Property. Incur, create, assume, become or be liable in any manner with respect to, or permit to exist, any Lien with respect to any Individual Property or any portion thereofBorrower's Facility, except: (i) Liens in favor of Lender, and (ii) the Permitted Encumbrances.

Appears in 2 contracts

Samples: Loan Agreement (Mark Centers Trust), Loan Agreement (Burnham Pacific Properties Inc)

Borrower Negative Covenants. Each Borrower and Operating Lessee covenants and agrees that, until payment in full of the IndebtednessIndebtedness (or, with respect to any particular Individual Property, the earlier release of the Related Mortgages), it will not dodo or permit, directly or indirectly, any of the following unless Lender consents thereto in writing: (A) Liens on the Mortgaged Property. Incur, create, assume, become or be liable in any manner with respect to, or permit to exist, any Lien with respect to any Individual Property or any portion thereofProperty, except: (i) Liens in favor of Lender, Lender and (ii) the Permitted Encumbrances.

Appears in 2 contracts

Samples: Loan Agreement (American Real Estate Investment Corp), Loan Agreement (Forum Group Inc)

Borrower Negative Covenants. Each Borrower and Operating Lessee covenants and agrees that, until payment in full of the Indebtedness, it will not do, directly or indirectly, any of the following unless Lender consents thereto in writing: (A) Liens on the Trust Property. Incur, create, assume, become or be liable in any manner with respect to, or permit to exist, any Lien with respect to any Individual Property Facility or any portion thereof, except: (i) Liens in favor of Lender, and (ii) the Permitted Encumbrances.

Appears in 1 contract

Samples: Loan Agreement (Burnham Pacific Properties Inc)

Borrower Negative Covenants. Each The Borrower and Operating Lessee covenants and agrees that, until payment in full of the Indebtedness, it will not do, directly or indirectly, any of the following unless the Lender consents thereto in writing: (A) Liens on the PropertyAssets. Incur, create, assume, become or be liable in any manner with respect to, or permit to exist, any Lien with respect to any Individual Property the Assets or any portion thereofAdditional Collateral or its property, income or profits or the income or profits therefrom, except: (i) Liens in favor of Lender, Lender and (ii) the Permitted Encumbrances.

Appears in 1 contract

Samples: Loan Agreement (Echelon International Corp)

Borrower Negative Covenants. Each Borrower and Operating Lessee covenants and agrees that, --------------------------- until payment in full of the Indebtedness, it will not do, directly or indirectly, any of the following unless Lender consents thereto in writing: (Aa) Liens on the PropertyMortgaged Properties. Incur, create, assume, --------------------------------- become or be liable in any manner with respect to, or permit to exist, any Lien with respect to any Individual Property Facility or any portion thereof, except: (i) Liens in favor of Lender, and (ii) the Permitted Encumbrances.

Appears in 1 contract

Samples: Loan Agreement (G&l Realty Corp)

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Borrower Negative Covenants. Each Borrower and Operating Lessee covenants and agrees that, until payment in full of the Indebtedness, it will not do, directly or indirectly, any of the following unless Lender consents thereto in writing: (A) Liens on the Mortgaged Property. Incur, create, assume, become or be liable in any manner with respect to, or permit to exist, any Lien with respect to any Individual Property the Facility or any portion thereof, except: (i) Liens in favor of Lender, and (ii) the Permitted Encumbrances.

Appears in 1 contract

Samples: Loan Agreement (Hallwood Realty Partners L P)

Borrower Negative Covenants. Each of Borrower and Operating Lessee covenants and agrees that, until payment in full of the Indebtedness, it will not do, directly or indirectly, any of the following unless Lender consents thereto in writing: (A) Liens on the Property. Incur, create, assume, become or be liable in any manner with respect to, or permit to exist, any Lien with respect to any Individual Property or any portion thereof, except: (i) Liens in favor of Lender, and (ii) the Permitted Encumbrances.

Appears in 1 contract

Samples: Loan Agreement (Ashford Hospitality Trust Inc)

Borrower Negative Covenants. Each Borrower and Operating Lessee covenants and agrees that, until payment in full of the Indebtedness, it will not do, directly or indirectly, indirectly any of the following unless Lender consents thereto in writing: (Aa) Liens on the PropertyMortgaged Properties. Incur, create, assume, become or be liable in any manner with respect to, or permit to exist, any Lien with respect to any Individual Property Facility or any portion thereof, except: (i) Liens in favor of Lender, and (ii) the Permitted Encumbrances.107

Appears in 1 contract

Samples: Loan Agreement (Alternative Living Services Inc)

Borrower Negative Covenants. Each Borrower and Operating Lessee covenants and agrees that, until payment in full of the Indebtedness, it will not do, directly or indirectly, indirectly any of the following unless Lender consents thereto in writing: (Aa) Liens on the PropertyMortgaged Properties. Incur, create, assume, become or be liable in any manner with respect to, or permit to exist, any Lien with respect to any Individual Property Facility or any portion thereof, except: (i) Liens in favor of Lender, and (ii) the Permitted Encumbrances.

Appears in 1 contract

Samples: Loan Agreement (Alternative Living Services Inc)

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