Common use of Negative Pledge Agreements; Dividend Restrictions Clause in Contracts

Negative Pledge Agreements; Dividend Restrictions. Neither the Borrower nor any of its Subsidiaries will create, incur, assume or suffer to exist any contract, agreement or understanding (other than this Agreement or the Security Instruments) that in any way prohibits or restricts the granting, conveying, creation or imposition of any Lien on any of its Property in favor of the Administrative Agent and the Lenders or restricts any Subsidiary from paying dividends or making distributions to the Borrower or any Guarantor, or which requires the consent of or notice to other Persons in connection therewith.

Appears in 13 contracts

Samples: Credit Agreement (Constellation Energy Partners LLC), Credit Agreement (Legacy Reserves Lp), Second Lien Bridge Loan Agreement (Linn Energy, LLC)

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Negative Pledge Agreements; Dividend Restrictions. Neither the Borrower nor any of its Subsidiaries will create, incur, assume or suffer to exist any contract, agreement or understanding (other than this Agreement Agreement, the Term Loan Security Instruments or the Security Instrumentsany RBL Loan Documents) that in any way prohibits or restricts the granting, conveying, creation or imposition of any Lien on any of its Property in favor of the Administrative Agent and the Lenders or restricts any Subsidiary from paying dividends or making distributions to the Borrower or any Guarantor, or which requires the consent of or notice to other Persons in connection therewith.

Appears in 2 contracts

Samples: Term Loan Credit Agreement (Legacy Reserves Inc.), Term Loan Credit Agreement (Legacy Reserves Lp)

Negative Pledge Agreements; Dividend Restrictions. Neither the The Borrower nor will not, and will not permit any of its Subsidiaries will to, create, incur, assume or suffer to exist any contract, agreement or understanding (other than this Agreement or the Security Instruments) that in any way prohibits or restricts the granting, conveying, creation or imposition of any Lien on any of its Property in favor of the Administrative Agent and the Lenders or restricts any Subsidiary from paying dividends or making distributions to the Borrower or any Guarantor, or which requires the consent of or notice to other Persons in connection therewith.

Appears in 2 contracts

Samples: Credit Agreement (Whittier Energy Corp), Credit Agreement (Whittier Energy Corp)

Negative Pledge Agreements; Dividend Restrictions. Neither the The Borrower nor will not, and will not permit any of its Subsidiaries will Affiliate to, create, incur, assume or suffer to exist any contract, agreement or understanding (other than this Agreement or and the Security Instruments) that in any way prohibits or restricts the granting, conveying, creation or imposition of any Lien on any of its Property Collateral in favor of the Administrative Agent and the Lenders or restricts any Subsidiary Affiliate from paying dividends or making distributions to the Borrower or any Guarantor, or which requires the consent of or notice to other Persons in connection therewith.

Appears in 1 contract

Samples: Credit Agreement (CrossPoint Energy CO)

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Negative Pledge Agreements; Dividend Restrictions. Neither the The Borrower nor will not, and will not permit any of its Subsidiaries will Subsidiary to, create, incur, assume or suffer to exist any contract, agreement or understanding (other than this Agreement or and the Security Instruments) that which in any way prohibits or restricts the granting, conveying, creation or imposition of any Lien on any of its Property in favor of the Administrative Agent and the Lenders or restricts any Subsidiary from paying dividends or making distributions to the Borrower or any Guarantor, or which requires the consent of or notice to other Persons in connection therewith.

Appears in 1 contract

Samples: Debtor in Possession Credit Agreement (Aurora Oil & Gas CORP)

Negative Pledge Agreements; Dividend Restrictions. Neither the Borrower nor any of its Subsidiaries will create, incur, assume or suffer to exist any contract, agreement or understanding (other than this Agreement or the Security Instruments) that in any way prohibits or restricts the granting, conveying, creation or imposition of any Lien on any of its Property in favor of the Administrative Agent and the Lenders or restricts any Subsidiary from paying dividends or making distributions to the Borrower or any Guarantor, or which requires the consent of or notice to other Persons in connection therewith.. Section

Appears in 1 contract

Samples: Second Lien Senior Subordinated Term Loan Agreement (Linn Energy, LLC)

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