Common use of Limitation on Negative Pledge Clause in Contracts

Limitation on Negative Pledge. Enter into any agreement with any Person other than Agent and Lenders which prohibits or limits the ability of Borrower or any Domestic Subsidiary thereof to create, incur, assume or suffer to exist any lien upon their properties, assets (including Subsidiary Stock) or revenues, whether now owned or hereafter acquired.

Appears in 3 contracts

Samples: Security Agreement (Research Pharmaceutical Services, Inc.), Security Agreement (Research Pharmaceutical Services, Inc.), Security Agreement (Research Pharmaceutical Services, Inc.)

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Limitation on Negative Pledge. Enter into any agreement with any Person other than the Administrative Agent and the Lenders which prohibits or limits the ability of the Borrower or any Domestic Subsidiary thereof its Subsidiaries to create, incur, assume or suffer to exist any lien Lien upon any of its or their properties, assets (including Subsidiary Stock) or revenues, whether now owned or hereafter acquired; provided, that, the Borrower or any Subsidiary thereof may enter into such agreement in connection with any Lien permitted by subsection 6.2(b) of this Agreement, when such prohibition or limitation is by its terms effective only against the assets subject to such Lien.

Appears in 1 contract

Samples: Credit Agreement (Clearpoint Business Resources, Inc)

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Limitation on Negative Pledge. Enter into any agreement with any Person other than the Agent and Lenders the Banks which prohibits or limits the ability of any Borrower or any Domestic Subsidiary thereof USFM to create, incur, assume or suffer to exist any lien Lien upon their any of its properties, assets (including Subsidiary Stock) or revenues, whether now owned or hereafter acquired.

Appears in 1 contract

Samples: Credit Agreement (Ceco Environmental Corp)

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