Common use of Negative Pledge Agreements Clause in Contracts

Negative Pledge Agreements. Borrower shall not, and shall not permit any other Company to, enter into or permit to exist any arrangement or agreement (other than the Loan Documents) that directly or indirectly prohibits any Company from (a) creating or incurring any Lien (other than Permitted Liens) on any Unencumbered Property, or (b) transferring ownership of any Unencumbered Property.

Negative Pledge Agreements. The Borrower shall not, and shall not permit any other Company of its domestic Subsidiaries to, enter into or permit to exist any arrangement or agreement (excluding this Agreement or any other than the Loan Documents) that prohibiting the creation or assumption of any Lien upon any of its property, revenues, or assets, whether now owned or hereafter acquired, or the ability of any Subsidiary to make any payments, directly or indirectly prohibits any Company from (a) creating or incurring any Lien (other than Permitted Liens) on any Unencumbered Propertyindirectly, to the Borrower by way of dividends, advances, repayments of loans, repayments of expenses, accruals, or (b) transferring ownership of any Unencumbered Propertyotherwise.

Negative Pledge Agreements. Borrower Borrowers shall not, and shall not permit any other Company Obligor to, enter into or permit to exist any arrangement or agreement (other than the Loan Documents) that directly or indirectly prohibits any Company Obligor from (a) creating or incurring any Lien (other than Permitted Liens) on any Unencumbered Property, or (b) transferring ownership of any Unencumbered Borrowing Base Property.

Negative Pledge Agreements. Borrower shall not, and shall not permit any other Company to, enter into any negative pledge agreements with any other Person such that Borrower shall be prohibited from granting, or permit to exist causing any arrangement or agreement (other than the Loan Documents) that directly or indirectly prohibits any Company from granting, to Administrative Agent, for the benefit of the Credit Parties, a first priority lien and security interest in the Operating Sub-Pool as security for the Obligation in an amount equal to one hundred fifty percent (a150%) of the Obligation. Nothing herein should be construed as creating or incurring any Lien (other than Permitted Liens) on any Unencumbered Property, or (b) transferring ownership of any Unencumbered Propertya Lien.

Negative Pledge Agreements. The Borrower shall not, and shall not cause or permit any other Company Restricted Subsidiary to, enter into or permit to exist any arrangement or agreement Contractual Requirement (other than the this Agreement or any other Loan Documents) that directly or indirectly prohibits any Company from (a) creating or incurring any Lien (other than Permitted Liens) on any Unencumbered Property, or (b) transferring ownership of any Unencumbered Property.Document)