Common use of Negative Covenants of Guarantor Clause in Contracts

Negative Covenants of Guarantor. 13.1 The Borrower covenants and agrees that at all times from and after the closing date, unless the Bank shall otherwise consent in writing, which consent shall not be unreasonably withheld, it will not, either directly or indirectly, sell, lease, transfer, (except within the Borrower's own organization) or dispose (other than in the normal course of business) of all or a substantial part of its business or assets. 13.2 The Guarantor covenants and agrees that at all times from and after the Closing Date, it will not grant anyone other than the Bank a lien against any of Guarantor's assets. Guarantor shall be permitted, however, to grant purchase money liens for the purpose of financing assets acquired after the Closing Date, which may include the acquisition of product lines (any such lien shall not extend to the Collateral). Furthermore, this provision shall not impair the ability of the Guarantor to acquire property after the closing Date by means of leases, or sale and lease back transactions.

Negative Covenants of Guarantor. 13.1 The Borrower covenants and agrees that at all times from and after the closing date, unless the Bank shall otherwise consent in writing, which consent shall not be unreasonably withheld, it will not, either directly or indirectly, sell, lease, transfer, (except within the Borrower's own organization) or dispose (other than in the normal course of business) of all or a substantial part of its business or assets. 13.2 The Guarantor covenants and agrees that at all times from and after the Closing Date, it will not grant anyone other than the Bank a lien against any of Guarantor's assets. Guarantor shall be permitted, however, to grant purchase money liens for the purpose of financing assets acquired after the Closing Date, including security interests arising from any Lease Line of Credit, which may include the acquisition of product lines (any such lien shall not extend to the Collateral). Furthermore, this provision shall not impair the ability of the Guarantor to acquire property after the closing Closing Date by means of leases, or sale and lease back transactions.

Negative Covenants of Guarantor. 13.1 The Borrower Guarantor covenants and agrees that at all times from and after the closing date, unless the Bank shall otherwise consent in writing, which consent shall not be unreasonably withheld, it will not, either directly or indirectly, sell, lease, transfer, (except within the BorrowerGuarantor's own organization) or dispose (other than in the normal course of business) of all or a substantial part of its business or assets. 13.2 The Guarantor covenants and agrees that at all times from and after the Closing Date, it will not grant anyone other than the Bank a lien against any of Guarantor's assets. Guarantor shall be permitted, permitted however, to grant purchase money liens for the purpose of financing assets acquired after the Closing Date, including security interests arising from any Lease Line of Credit, which may include the acquisition of product lines (any such lien shall not extend to the Guarantor Collateral). Furthermore, this provision shall not impair the ability of the Guarantor to acquire property after the closing Closing Date by means of leases, or sale and lease back transactions.

Negative Covenants of Guarantor. 13.1 The Borrower covenants and agrees that at all times from and after the closing date, unless the Bank shall otherwise consent in writing, which consent shall not be unreasonably withheld, it will not, either directly or indirectly, sell, lease, transfer, (except within the Borrower's own organization) or dispose (other than in the normal course of business) of all or a substantial part of its business or assets. 13.2 The Guarantor covenants and agrees that at all times from and after the Closing Date, it will not grant anyone other than the Bank a lien against any of Guarantor's assets. Guarantor shall be permitted, however, to grant purchase money liens for the purpose of financing assets acquired after the Closing Date, which may include the acquisition of product lines (any such lien shall not extend to the Collateral). Furthermore, this provision shall not impair the ability of the Guarantor to acquire property after the closing Closing Date by means of leases, or sale and lease back transactions.