Double Negative Pledge Clause Samples

Double Negative Pledge. No Borrower nor any Subsidiary of a Borrower shall enter into or suffer to exist any agreement with any Person, other than in connection with this Agreement, which prohibits or limits the ability of the Borrowers or any Subsidiary to create, incur, assume or suffer to exist any Lien upon or with respect to any property or assets of any kind (real or personal, tangible or intangible) of the Borrowers or any Subsidiary, whether now owned or hereafter acquired or created.

Double Negative Pledge. No Loan Party nor any Subsidiary of a Loan Party (other than a Securitization Entity) shall enter into any agreement with any Person, other than in connection with this Agreement, which prohibits or limits the ability of such Loan Party or Subsidiary to create, incur, assume or suffer to exist any Lien in favor of the Agent on behalf of the Banks upon or with respect to any property or assets of any kind, real or personal, tangible or intangible (including, but not limited to, stock or other equity interest) of such Loan Party or Subsidiary, whether now owned or hereafter acquired or created; provided that a Loan Party or a Subsidiary of a Loan Party may enter into such agreement: (i) in connection with any Permitted Additional Indebtedness or the 2017 Note Offering, (ii) which prohibits Liens on the specific property or assets which are subject to any Receivables Financing, (iii) which prohibits Liens on property or assets which are subject to any Purchase Money Security Interests permitted by Section 6.01(f) hereof, or other Liens permitted by Section 6.01(i), 6.01(j) or 6.01(m), (iv) in connection with unsecured Indebtedness of Subsidiaries that are not Loan Parties otherwise permitted hereunder, or (v) in connection with Joint Ventures permitted under Section 6.06(iv).

Double Negative Pledge. Other than pursuant to the terms of this Agreement and the Spinnaker Credit Agreement, in no event shall the Borrowers agree with, or become obligated to, or permit or suffer any of their Subsidiaries agreeing or becoming obligated to, any other Person (other than ▇▇▇▇▇▇ ▇▇▇ and ▇▇▇▇▇▇▇ Mac) to refrain from granting or creating a Lien on any of their respective assets.

Double Negative Pledge. Other than pursuant to the terms of this Credit Agreement, in no event shall CCG agree with, or become obligated to, any other Person to refrain from granting or creating a Lien on the Capital Stock of CFin Holdings, CMC or CMP

Double Negative Pledge. Enter into or suffer to exist any agreement with any Person, other than in connection with this Agreement, any Holding Bond Issuances or the Indenture Documents, which prohibits or limits the ability of such Borrower Party to create, incur, assume or suffer to exist any Lien upon or with respect to any property or assets of any kind, real or personal, tangible or intangible (including, but not limited to, shares or other equity interests, as the case may be) of such Borrower Party.

Double Negative Pledge. Mortgage, pledge, grant or permit to exist a security interest in, or lien upon, all or any portion of Borrower’s or any Subsidiary’s assets now owned or hereafter acquired, except any of the foregoing (a) in favor of Bank, (b) which is existing as of, and disclosed to Bank in writing prior to, the date hereof, and (c) which consist of security interests in auction rate securities described in and subject to the terms of Section 5.2.(b) above. In addition, Borrower shall not agree with any other creditor to prohibit, encumber or condition the granting of a security interest in its intellectual property (or any portion thereof).

Double Negative Pledge. No Loan Party nor any Subsidiary of a Loan Party shall enter into any agreement with any Person, other than in connection with this Agreement, which prohibits or limits the ability of such Loan Party or Subsidiary to create, incur, assume or suffer to exist any Lien upon or with respect to any property or assets of any kind, real or personal, tangible or intangible (including, but not limited to, stock or other equity interest) of such Loan Party or Subsidiary, whether now owned or hereafter acquired or created; provided that a Loan Party or a Subsidiary of a Loan Party may enter into such agreement which prohibits Liens on property or assets which are subject to any Purchase Money Security Interests permitted by Section 6.01(f) hereof.

Double Negative Pledge. Neither Borrower nor SALII shall enter into or suffer to exist or become effective any agreement that prohibits or limits the ability of Borrower or SALII to create, incur, assume or suffer to exist any Lien upon any of the Notes Receivable. No such agreement exists now.

Double Negative Pledge. Not (in the case of the Borrower and each Target Group Company) enter into any agreement, or an amendment, a supplement or any other modification of an agreement entered into before the date of this Agreement, containing any provision which constitutes or has the effect of a negative pledge over the assets of the Borrower or any Target Group Company.