Negative Convenants Sample Clauses

A Negative Covenants clause restricts a party, typically a borrower or tenant, from engaging in certain actions or behaviors without the prior consent of the other party. These restrictions may include prohibitions on incurring additional debt, selling key assets, or making significant changes to business operations. By imposing these limitations, the clause helps protect the interests of the lender or landlord by ensuring the other party does not take actions that could increase risk or undermine the value of the agreement.
Negative Convenants. Not to, without Lender's written consent: -------------------- (a) Engage in any business activities substantially different from Borrower's present business, (b) Liquidate or dissolve Borrower's business, (c) Lease, or dispose of all or substantial part of Borrower's business or Borrower's assets, (d) Sell or otherwise dispose of any assets for less than fair market value, (e) Voluntarily suspend its business for more than 7 days in any 30 day period, and (f) Declare or pay any divided, redeem or repurchase any of its outstanding capital stock.
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Negative Convenants. Until all the Commitments have expired or terminated and the principal of and interest on each Loan, all fees payable hereunder and all other Obligations have been paid in full (but with respect to such other Obligations only to the extent that actual amounts hereunder are owing at the time the Loans, together with interest and fees, have been paid in full) and all Letters of Credit shall have expired or terminated and all LC Disbursements shall have been reimbursed, each Borrower covenants and agrees (for itself and the Restricted Subsidiaries) with the Lenders that:
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Negative Convenants. From the date hereof and for so long as the Commitments remain in effect, any Letter of Credit remains outstanding (in a face amount in excess of the sum of (i) the amount of cash then held in the Letter of Credit Account and (ii) the face amount of back-to-back letters of credit delivered pursuant to Section 2.02(j)) or principal of or interest on any Loan or reimbursement of any LC Disbursement is owing (or any other amount that is due and unpaid on the first date that none of the foregoing is in effect, outstanding or owing, respectively, is owing) to any Lender or the Administrative Agent hereunder: Section 6.01. [Intentionally Omitted]. Section 6.02. [Intentionally Omitted]. Section 6.03. [Intentionally Omitted].
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Negative Convenants. Borrower assumes vis a vis Interbank the following obligations to refrain from doing during the term of the Agreement.
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Negative Convenants. 11 7.1 Dispositions ................................................ 12 7.2 Changes in Business, Ownership, Management or Locations ..... 12 7.3
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Negative Convenants. (a) Except as otherwise expressly permitted by this Agreement, between the date of this Agreement and the Closing, the Subject Company and the Sellers will not, without the prior consent of the Purchaser, take any affirmative action or fail to take any reasonable action within its control, as a result of which any of the changes or events listed in Section 5.14 is likely to occur.
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Negative Convenants. Without the affirmative action of a majority of the Shares of Shareholders present at a duly convened Shareholders Meeting Seller shall not: 9.1 Merge with or into or consolidate with any other entity or lease or sell all, or substantially all, of its property, assets and business to any other entity, or dispose of any of its assets, property or business except (i) in the ordinary course of business (ii) subsidiaries may merge into the Seller or into another subsidiary. 9.2 Issue any preferred stock or other securities, other than pursuant to the rights set forth in the existing Articles of Incorporation. 9.3 Alter or amend its Articles of Incorporation or Bylaws.
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Negative Convenants. Borrower agrees that until payment in full of all Obligations, Borrower will not, nor will it permit any Subsidiary to, do any of the following, without CNB's prior written consent:
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Related to Negative Convenants

  • AFFIRMATIVE AND NEGATIVE COVENANTS The Borrower covenants and agrees that, so long as any Bank has any Commitment hereunder or any Obligations remain unpaid:

  • NEGATIVE COVENANTS So long as any Lender shall have any Commitment hereunder, any Loan or other Obligation hereunder shall remain unpaid or unsatisfied, or any Letter of Credit shall remain outstanding, the Borrower shall not, nor shall it permit any Subsidiary to, directly or indirectly:

  • Certain Negative Covenants So long as any Recovery Bonds are Outstanding, the Issuer shall not: (a) except as expressly permitted by this Indenture and the other Basic Documents, sell, transfer, exchange or otherwise dispose of any of the properties or assets of the Issuer, including those included in the Recovery Bond Collateral, unless directed to do so by the Indenture Trustee in accordance with Article V; (b) claim any credit on, or make any deduction from the principal or premium, if any, or interest payable in respect of, the Recovery Bonds (other than amounts properly withheld from such payments under the Code or other tax laws) or assert any claim against any present or former Holder by reason of the payment of the taxes levied or assessed upon any part of the Recovery Bond Collateral; (c) terminate its existence or dissolve or liquidate in whole or in part, except in a transaction permitted by Section 3.10; (i) permit the validity or effectiveness of this Indenture or the other Basic Documents to be impaired, or permit the Lien of this Indenture and the Series Supplement to be amended, hypothecated, subordinated, terminated or discharged, or permit any Person to be released from any covenants or obligations with respect to the Recovery Bonds under this Indenture except as may be expressly permitted hereby, (ii) permit any Lien (other than the Lien of this Indenture or of the Series Supplement) to be created on or extend to or otherwise arise upon or burden the Recovery Bond Collateral or any part thereof or any interest therein or the proceeds thereof (other than tax liens arising by operation of law with respect to amounts not yet due), or (iii) permit the Lien of this Indenture or of the Series Supplement not to constitute a valid first priority perfected security interest in the Recovery Bond Collateral; (e) elect to be classified as an association taxable as a corporation for federal income tax purposes or otherwise take any action, file any tax return, or make any election inconsistent with the treatment of the Issuer, for purposes of federal taxes and, to the extent consistent with applicable State tax law, State income and franchise tax purposes, as a disregarded entity that is not separate from the sole owner of the Issuer; (f) change its name, identity or structure or the location of its chief executive office, unless at least ten (10) Business Days’ prior to the effective date of any such change the Issuer delivers to the Indenture Trustee (with copies to the Rating Agencies) such documents, instruments or agreements, executed by the Issuer, as are necessary to reflect such change and to continue the perfection of the security interest of this Indenture and the Series Supplement; (g) take any action which is subject to a Rating Agency Condition without satisfying the Rating Agency Condition; (h) except to the extent permitted by applicable law, voluntarily suspend or terminate its filing obligations with the SEC as described in Section 3.07(g); or (i) issue any recovery bonds under the Wildfire Financing Law or any similar law (other than the Recovery Bonds).

  • CERTAIN NEGATIVE COVENANTS OF THE BORROWER The Borrower covenants and agrees that, so long as any Loan, Unpaid Reimbursement Obligation, Letter of Credit or Note is outstanding or any Bank has any obligation to make any Loans or the Agent has any obligations to issue, extend or renew any Letters of Credit:

  • Negative Covenants of the Borrower So long as any Advance shall remain unpaid or the Liquidity Provider shall have any Maximum Commitment hereunder or the Borrower shall have any obligation to pay any amount to the Liquidity Provider hereunder, the Borrower will not appoint or permit or suffer to be appointed any successor Borrower without the prior written consent of the Liquidity Provider, which consent shall not be unreasonably withheld or delayed.