Further Negative Pledges Clause Samples
Further Negative Pledges. The Borrower shall not, and shall not permit any other Loan Party or any Intermediate Subsidiary to, enter into, assume or otherwise be bound by any Negative Pledge except for a Negative Pledge contained in (i) an agreement (x) evidencing Indebtedness which the Borrower, such Loan Party or such Intermediate Subsidiary may create, incur, assume, or permit or suffer to exist under Section 9.2.(d), (y) which Indebtedness is secured by a Lien permitted to exist under Section 9.3.(f), and (z) which prohibits the creation of any other Lien on only the property securing such Indebtedness as of the date such agreement was entered into; (ii) an agreement relating to the sale of a Subsidiary or assets pending such sale, provided that in any such case the Negative Pledge applies only to the Subsidiary or the assets that are the subject of such sale; or (iii) customary limitations on the transfer of Equity Interests of a Subsidiary contained in leases or other agreements entered into in the ordinary course of business.
Further Negative Pledges. Since the immediately preceding Compliance Date, Borrower has not entered into or become subject to any agreement prohibiting or otherwise restricting the creation or assumption of any Lien upon any of its property, whether now owned or hereafter acquired, or requiring the grant of any security for any obligation if security is given for any other obligation except pursuant to the terms of any Permitted Purchase Money Indebtedness to the extent such limitations relate only to the property that is the subject of the Purchase Money Lien securing such Permitted Purchase Money Indebtedness [IF BORROWER HAS ENTERED INTO OR BECOME SUBJECT TO ANY SUCH AGREEMENT, DESCRIBE SUCH TRANSACTIONS IN DETAIL]. The undersigned ______________________ [TREASURER/CHIEF FINANCIAL OFFICER] of Borrower, executing and delivering this Compliance Certificate on behalf of Borrower, further certifies that _____ [he/she] has reviewed the Loan Agreement and has no knowledge of any event or condition which constitutes a Default or an Event of Default under the Loan Agreement or the other Loan Documents other than [IF ANY DEFAULT OR EVENT OF DEFAULT HAS OCCURRED, DESCRIBE THE SAME, THE PERIOD OF EXISTENCE THEREOF AND WHAT ACTION BORROWER HAS TAKEN OR PROPOSES TO TAKE WITH RESPECT THERETO].
Further Negative Pledges. Sign, or permit any Subsidiary to sign, or permit to exist, any documentation in favor of any Person other than Bank which includes a Negative Pledge or language similar to that set forth in Sections 6.01 and 6.02 above which would create a default in such documents if Borrower or any of its Subsidiaries pledged any of its assets to Bank as security for the Note or other obligations of Borrower or any of its Subsidiaries in favor of Bank.
Further Negative Pledges. PB shall not, from and after the Effective Date, enter into any agreement that prohibits or limits the ability of PB to create, incur, assume or suffer to exist any Lien upon any PB Intellectual Property (including any Accounts with respect to such royalties or license fees), whether now owned or hereafter acquired, to secure the PB Obligations, other than (a) agreements with SFJ (including this Agreement), (b) any agreements governing purchase money Liens or capital lease obligations otherwise permitted hereby (in which case, any such prohibition or limitation shall only be effective on the assets financed thereby), (c) customary restrictions on assignment contained in leases, licenses or other agreements or (d) the SVB Loan Agreement and any loan documents entered into in connection therewith.