Negative Pledge and No-Debt Sample Clauses

Negative Pledge and No-Debt. The Borrower hereby agrees that it will not xxxxx x xxxx or security interest in, or otherwise mortgage, encumber, pledge, and/or enter into a negative pledge agreement with respect to: (a) all documents (including, if applicable, electronic documents), instruments, promissory notes, chattel paper (whether tangible or electronic), proceeds of securities, and all other investment property, general intangibles (including all payment intangibles), and any other contract rights or rights to the payment of money; and (b) all Proceeds and products of each of the foregoing, all books and records relating to the foregoing, all supporting obligations related thereto, and all accessions to, substitutions and replacements for, and rents, profits and products of, each of the foregoing, and any and all Proceeds of any insurance indemnity, warranty or guaranty payable to the Borrower from time to time with respect to any of the foregoing general intangibles, except for such liens or security interests already disclosed to the Director and existing on the Closing Date. The Borrower further agrees that it will not, without the prior written consent of the Director, incur any other indebtedness outside the ordinary course of business.
Sample 1
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Negative Pledge and No-Debt. The Borrower hereby agrees that it will not, without the prior written consent of the Director, xxxxx x xxxx or security interest in, or otherwise mortgage, encumber, pledge, and/or enter into a negative pledge agreement with respect to:
Sample 1

Related to Negative Pledge and No-Debt

  • Negative Pledge Neither the Borrower nor any Subsidiary will create, assume or suffer to exist any Lien on any asset now owned or hereafter acquired by it, except:

  • NO STRIKE PLEDGE The Union agrees that during the life of this Agreement, its agents, or its members shall not authorize, instigate, aid, or engage in any work stoppage, slowdown, sick-out, refusal to work, picketing, or strike against the District. If, during the life of this Agreement, the employees, for whatever reason engage in the aforementioned provisions, the Union shall immediately publicly order the striking employees to discontinue such action through the local media. Failure of the Union to take such action shall be subject to enforcement by the ordinary process of law.

  • Indebtedness Create, incur, assume or suffer to exist any Indebtedness, except:

  • Contractual Obligations Without limitation, the indemnity set forth in this Section 7.6 shall extend to any liability of any Indemnitee pursuant to a loan guaranty (except a guaranty by a Limited Partner of nonrecourse indebtedness of the Partnership or as otherwise provided in any such loan guaranty), contractual obligation for any indebtedness or other obligation or otherwise for any indebtedness of the Partnership or any Subsidiary of the Partnership (including, without limitation, any indebtedness which the Partnership or any Subsidiary of the Partnership has assumed or taken subject to), and the General Partner is hereby authorized and empowered, on behalf of the Partnership, to enter into one or more indemnification agreements consistent with the provisions of this Section 7.6 in favor of any Indemnitee having or potentially having liability for any such indebtedness.

  • Disposal of Assets 88) Where the Academy Trust acquires assets for a nil consideration or at an under value it shall be treated for the purpose of this Agreement as having incurred expenditure equal to the market value of those assets at the time that they were acquired. This provision shall not apply to assets transferred to the Academy Trust at nil or nominal consideration and which were previously used for the purposes of an Academy and/or were transferred from an LA, the value of which assets shall be disregarded.

  • Permitted Encumbrances The term “Permitted Encumbrances” shall mean:

  • ENCUMBRANCES AND LIENS The Contractor shall not cause or permit any lien, attachment or other encumbrance by any person to be placed on file or to remain on file in any public office or on file with UNDP against any monies due to the Contractor or that may become due for any work done or against any goods supplied or materials furnished under the Contract, or by reason of any other claim or demand against the Contractor or UNDP.

  • Permitted Charges 15.2.1 Neither Party shall create or permit to subsist any encumbrance over all or any of its rights and benefits under this Agreement.

  • Maximum Contractual Obligation The maximum obligation of COUNTY under this Agreement shall not exceed the amount of $970,800 or actual allowable costs, whichever is less. The estimated annual amount for each twelve (12) month period is as follows:

  • Limitation on Indebtedness Create, incur, assume or suffer to exist any Indebtedness, except:

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