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.
Appears in 7 contracts
Samples: Credit Agreement (Prentiss Properties Trust/Md), Credit Agreement (Prentiss Properties Trust/Md), Credit Agreement (Prentiss Properties Trust/Md)
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.
Appears in 3 contracts
Samples: Credit Agreement (Innkeepers Usa Trust/Fl), Credit Agreement (Innkeepers Usa Trust/Fl), Credit Agreement (Innkeepers Usa Trust/Fl)
Negative Pledge Agreements. Borrower shall notnot create, and shall not permit any other Company toincur, enter into assume or permit to exist any arrangement written contract or agreement (other than the Loan DocumentsDocuments and any Permitted Encumbrances) that directly which in any way prohibits or indirectly prohibits any Company from (a) creating restricts the granting, conveying, creation or incurring imposition of any Lien (on a material portion of the Collateral, or which requires the consent of other Persons in connection therewith, in each case other than Permitted Liens) any such contract or agreement existing on the Closing Date and any Unencumbered Propertyrenewals, replacements, or (b) transferring ownership of any Unencumbered Propertyextensions thereof.
Appears in 1 contract
Samples: Loan and Security Agreement (Transatlantic Petroleum Ltd.)
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.
Appears in 1 contract
