DEBTOR’S NEGATIVE COVENANTS. During the term of this Agreement, and until the Obligations are paid or satisfied in full, Debtor covenants and agrees that it will not, except with the prior written approval of Lender:
DEBTOR’S NEGATIVE COVENANTS. Regardless the rest of the obligations undertaken by the Debtor by virtue of this Agreement and while any indebted amount is pending of payment by virtue of this Agreement the Debtor shall not, without previous consent in writing by the Bank: (a) Make significant amendments to the Debtor’s by-laws. “Significant Amendments” shall be understood as those which purpose is to amend the line of business, to reduce the Debtor’s capital or to modify its duration; (b) To grant a pledge, mortgage or any kind or lien or real right over any asset owned by the Debtor, or to grant its personal or general guarantee in favor of third parties, except for those bonds already granted and valid as of the date of this instrument. In the event of granting real or personal guarantees in favor of third parties, the Debtor shall simultaneously grant guarantees in favor of BCI under similar conditions as third parties. TENTH: Reasons for the Enforceability of the Loan. The Bank shall be empowered to immediately demand repayment of the total Loans as if they had matured in the case of violation of the obligations described in the Ninth Clause above, and besides in the following cases: (a) If the Debtor incurs a delay or postponement of capital and interests repayment as agreed and such non-compliance continues for over 3 continuous days;
DEBTOR’S NEGATIVE COVENANTS. (a) Debtor will not sell, transfer, or encumber any of the Collateral, except that Debtor may sell inventory in the ordinary course of business and may dispose of equipment that has become obsolete or worn-out in the ordinary course of Debtor’s business.
DEBTOR’S NEGATIVE COVENANTS. Debtor will not at any time, without the consent of one or both of the Secured Parties:
