Negative Covenants of Debtors Sample Clauses

Negative Covenants of Debtors. Each Debtor covenants and agrees that, without the prior written consent of the Collateral Agent (which consent may be granted or withheld in the sole and absolute discretion of the Collateral Agent), such Debtor will not (i) except for sales of inventory in the ordinary course of business consistent with past practice, sell, assign, or transfer the Collateral or any of its rights therein, (ii) create any other security interest in, mortgage, or otherwise encumber the Collateral or any part thereof, or permit the Collateral to be or become subject to any lien, attachment, execution, sequestration, other legal or equitable process, or any encumbrance of any kind or character, except the security interest created herein, or (iii) change its jurisdiction of organization, name or corporate structure.
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Negative Covenants of Debtors. So long as any of the Debt remains outstanding, Debtors shall not:
Sample 1Sample 2
Negative Covenants of Debtors. Each Debtor covenants and agrees that, without the prior written consent of the Collateral Agent (which consent may be granted or withheld in the sole and absolute discretion of the Collateral Agent), such Debtor will not (i) except for sales of inventory in the ordinary course of business consistent with past practice, sell, assign, or transfer the Collateral or any of its rights therein, (ii) create any other security interest in, mortgage, or otherwise encumber the Collateral or any part thereof, or permit the Collateral to be or become subject to any lien, attachment, execution, sequestration, other legal or equitable process, or any encumbrance of any kind or character, except the security interest created herein, or (iii) change its jurisdiction of organization, name or corporate structure. Notwithstanding the foregoing, in the event that the AIRs are not exercised in full by the Purchasers, the Collateral Agent, upon the request of the Company, shall permit the Collateral to be subject to a lien or security interest that is subordinate and junior to the Security Interest to secure additional debt financing (not to exceed the amount equal to (A) $7,000,000 less (B) the amount of gross proceeds received by the Company from the exercise of the AIRs) incurred by any Debtor to finance specific mining operations of such Debtor; provided that each Person providing any such additional debt financing executes and enters into customary subordination and intercreditor agreements and any other customary agreements and documents reasonably requested by the Collateral Agent. In addition, in the event that the AIRs are not exercised in full by the Purchasers, the Collateral Agent, upon the written direction of the holders of more than 50% of the then outstanding aggregate principal amount of the Notes, may (but shall not be obligated to) subordinate the Security Interest in certain (but not all) of the Collateral in favor of a security interest granted to other Persons who may in the future provide additional debt financing (not to exceed the amount equal to (A) $7,000,000 less (B) the amount of gross proceeds received by the Company from the exercise of the AIRs) incurred by any Debtor to finance specific mining operations of such Debtor.
Sample 1
Negative Covenants of Debtors. To induce Lender to make the Advances pursuant to this Agreement, Borrower and Asta Funding on its own behalf and as to each Debtor, hereby covenants and agrees that so long as any of the Obligations shall remain outstanding, Debtors shall not:
Sample 1

Related to Negative Covenants of Debtors

  • Negative Covenants of the Company Except as expressly contemplated by this Agreement or otherwise consented to in writing by Buyer, from the date of this Agreement until the Effective Time, the Company will not do any of the following:

  • 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.

  • 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:

  • NEGATIVE COVENANTS OF THE BORROWERS Until such time as all amounts of principal and interest due to the Bank by a Borrower pursuant to any Loan made to such Borrower is irrevocably paid in full, and until the Bank is no longer obligated to make Loans to such Borrower, such Borrower (for itself and on behalf of its respective Funds) agrees:

  • Negative Covenants of Seller On and as of the date hereof and each Purchase Date and until this Agreement is no longer in force with respect to any Transaction, Seller shall not without the prior written consent of Buyer:

  • Negative Covenants of the Seller From the date hereof until the Collection Date:

  • COVENANTS OF DEBTOR Debtor hereby covenants and agrees as follows:

  • NEGATIVE COVENANTS OF BORROWER Borrower agrees that so long as it is indebted to Bank, or so long as Bank has any obligation to extend credit to Borrower, it will not, without Bank's written consent:

  • Affirmative Covenants of the Company The Company hereby covenants and agrees as follows:

  • Negative Covenants of the Seller Parties Until the date on which the Aggregate Unpaids have been indefeasibly paid in full and this Agreement terminates in accordance with its terms, each Seller Party hereby covenants, as to itself, that:

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