Negative Pledge Clause Sample Clauses

Negative Pledge Clause. Subsection (b) of Section 7.12 of the Existing Credit Agreement is hereby relettered to become subsection “(c)” and a new subsection (b) is hereby added in its place to read “, (b) the Permitted Unsecured Indebtedness Documents, provided, however, that any such prohibition or limitation does not restrict in any manner (directly or indirectly) Liens on any Property of any Group Member securing the Obligations and does not require the direct or indirect granting of any Lien securing any Permitted Unsecured Indebtedness or other obligation thereunder by virtue of the granting of Liens on any Property of any Group Member to secure the Obligations, and”.

Negative Pledge Clause. The Negative Pledge Clause under Borrower’s Negative Obligations is fully deleted and replaced by the following clause Borrower’s Negative Obligations · Negative Pledge Clause The Borrower undertakes, to the extent permitted by law, to refrain from providing new or additional collateral in favour of a third party to secure existing or future liabilities or the Borrower or a third party except cash credits up to an amount of CHF 5’000’000.00 secured by mortgage notes (“Namenschuldbriefe”) on Land Register Biel, no. 9443, ▇▇▇▇▇▇▇ ▇, ▇▇▇▇ ▇▇▇▇/▇▇▇▇▇▇.

Negative Pledge Clause. The Borrower will not, after the date hereof, enter into or otherwise agree to any new agreement that prohibits or limits the ability of the Borrower or any of its Subsidiaries to create, incur, assume or suffer to exist any Lien upon any of its assets, Property or revenues, whether now owned or hereafter acquired, other than (a) this Agreement and the other Credit Documents, (b) the Letter of Credit Facility and (c) any agreements governing any purchase money Liens otherwise permitted hereby (in which case, any prohibition or limitation shall only be effective against the assets financed thereby).

Negative Pledge Clause. The Debtor warrants that during the term of this Agreement and as long as the Obligations are outstanding, it will not grant a security interest in the Collateral to any other person.

Negative Pledge Clause. No Borrower shall enter into or cause, suffer or permit to exist any agreement with any Person other than the Administrative Agent and the Lenders pursuant to this Agreement, any other Loan Documents or any Toro Note Indenture, which prohibits or limits the ability of any of the Borrowers or any Material Subsidiary to create, incur, assume or suffer to exist any Lien upon any of its property, assets or revenues, whether now owned or hereafter acquired, provided that any Borrower and any Subsidiary may enter into such an agreement in connection with, and that applies only to, property subject to any Lien permitted by this Agreement and not released after the date hereof, when such prohibition or limitation is by its terms effective only against the assets subject to such Lien.

Negative Pledge Clause. The Borrower undertakes that, so long as any sum remains available or outstanding under this agreement, it will not, without the prior written consent of the Lender, which shall not be unreasonably withheld, create, assume or permit to exist any encumbrances over any of its present or future revenues or assets save for encumbrances which arise in the ordinary course of business.

Negative Pledge Clause. Enter into with any Person any agreement which prohibits or limits the ability of the Borrower to create, incur, assume or suffer to exist any Lien upon any of its property, assets or revenues (other than assets pledged as permitted by Section 7.02(e)), whether now owned or hereafter acquired, other than (i) this Agreement or the other Loan Documents or (ii) except as may occur in the ordinary course of the Borrower's business and which is not otherwise prohibited by any Applicable Law.

Negative Pledge Clause. The Negative Pledge Clause under Borrower’s Negative Obligations is fully deleted and replaced by the following clause