Common use of Negative Pledge and No-Debt Clause in Contracts

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.

Negative Pledge and No-Debt. The Borrower hereby agrees that it will not 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: (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.

Negative Pledge and No-Debt. The Borrower hereby agrees that it will not 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: : (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.