Negative Pledge Covenant. Section 5.02(m) of the Credit Agreement is hereby amended by replacing “or” with “,” at the end of clause (ii) thereof and inserting the following new clause (iii) thereto: “with respect to the Preferred Securities Trust, pursuant to any loan documentation governing the issuance of Trust Preferred Securities permitted under Section 5.02(b)(ix),”
Negative Pledge Covenant. Section 5.02(m)(iii) of the Credit Agreement is hereby amended in its entirety to read as follows: “with respect to a Preferred Securities Trust, pursuant to any loan documentation governing the issuance of Trust Preferred Securities permitted under Section 5.02(b)(ix),”
Negative Pledge Covenant. Clause (a) of Section 7.2.15 to the Financing Agreement is hereby amended and restated as follows:
(a) this Agreement, the other Operative Documents, the DVB Financing Agreement and the Senior Secured Note Documents (or as contemplated under this Agreement, the other Operative Documents, the DVB Financing Agreement or the Senior Secured Note Documents),”
Negative Pledge Covenant. Neither Borrower, the ------------------------ REIT or any other Loan Party shall enter into or suffer to exist, or permit any of its Subsidiaries or Affiliates to enter into or suffer to exist, any mortgage, deed of trust, deed to secure debt or other security instrument or any other Lien, or any agreement permitting or conditioning the creation or assumption of any Lien upon any Unencumbered Asset other than (i) in favor of Agent and the Co-Lenders or (ii)
Negative Pledge Covenant. Neither Borrower, the REIT or any other Loan Party shall enter into or suffer to exist, or permit any of its Subsidiaries to enter into or suffer to exist, any mortgage, deed of trust, deed to secure debt or other security instrument or any other Lien, or any agreement permitting or conditioning the creation or assumption of any Lien upon any Eligible Asset, (except for an Eligible Asset that has been removed from the list of Eligible Assets in accordance with Section 6.23(b) or (c)) Operating Lease other than (i) in favor of Lender and the Lenders, (ii) Permitted Liens, or (iii) mechanic's, materialman's or other similar liens which remain undischarged of record (by payment, bonding or otherwise) for no more than thirty (30) days.
Negative Pledge Covenant. The Borrower covenants and agrees not to encumber, pledge, mortgage, hypothecate, or grant security interests in or other liens on any of its assets (whether tangible or intangible or now owned or hereafter acquired), other than pursuant to the Loan Documents, without the prior written consent of the Bank.
Negative Pledge Covenant. Enter into or suffer to exist, or permit any Subsidiary to enter into or suffer to exist, any mortgage, deed of trust, deed to secure debt or other security instrument or any other Lien, or any agreement permitting or conditioning the creation or assumption of any Lien upon any Asset, including without limitation, the Capital Stock of any Guarantor, any Borrower or their respective Subsidiaries, or any trade name, trademark, service xxxx, logo, copyright, good will or other general intangible owned by any Guarantor, any Borrower or any of their respective Subsidiaries or used in connection with any Asset other than (i) in favor of Lender, or (ii) Liens permitted under Section 8(c).
Negative Pledge Covenant. Each Borrower hereby covenants and agrees that, during the Forbearance Term, no Borrower shall, and nor shall any Borrower suffer or permit any other Loan Party to, directly or indirectly, make, create, incur, assume or suffer to exist any Lien upon or with respect to any part of its Property, whether now owned or hereafter acquired, other than (i) Liens in existence as of the date of this Forbearance, Waiver and Amendment, including the Lien on $5,500,000 of cash held at Travellers Indemnity to support insurance obligations of WSS, (ii) the Lien evidenced by the Deed of Trust, and (iii) Liens in favor of the Agent for any Cash Collateralized amounts as required by Section 9(b).
Negative Pledge Covenant. Pledgor will not assign, sell, mortgage, lease, transfer, pledge, grant a security interest in, encumber, or otherwise dispose of any of the Collateral or any other shares of capital stock owned (now or in the future) by Pledgor without the prior written consent of Pledgee, and the inclusion of "proceeds" of the Collateral under the security interest granted herein shall not be deemed a consent by Pledgee to any sale or other disposition of any part or all of the Collateral except as expressly permitted herein.
Negative Pledge Covenant. Except as otherwise provided in the Georgia Acquisition Subsidiaries Guarantee, the Texas Acquisition Subsidiaries Guarantee or any Capital Improvements Loan (as that term is defined in Article I of each of the Georgia Partnership Agreement and the Texas Partnership Agreement) made to either the Georgia Partnership or the Texas Partnership, the Holdco Parties shall not, and shall cause each of their Subsidiaries not to, without the prior written consent of the TW Parties, (a) create, incur, assume or suffer to exist any Lien on any of the Equity Interests or Assets (including, without limitation, any Units) of any of the Georgia Partnership, the Texas Partnership, the Acquisition Subsidiaries, GP Holdings, or any of their respective Subsidiaries that secures any indebtedness described in clause (i) of the definition of “Indebtedness” or (b) cause or permit any of the Georgia Partnership, the Texas Partnership, the Acquisition Subsidiaries, GP Holdings or any of their respective Subsidiaries to provide any guarantee with respect to, or assume, endorse or otherwise become responsible for Indebtedness or obligations of any other Person, other than pursuant to the Acquisition Company Credit Agreement; provided, however, that notwithstanding the foregoing, (x) the Subsidiaries of the Georgia Partnership and the Texas Partnership shall be permitted to guarantee Indebtedness of the Georgia Partnership or the Texas Partnership (as applicable) which the Georgia Partnership or the Texas Partnership (as applicable) are otherwise permitted to incur, and (y) the Georgia Partnership and the Texas Partnership shall be permitted to guarantee Indebtedness of the Subsidiaries of the Georgia Partnership or the Texas Partnership (as applicable) which the Subsidiaries of the Georgia Partnership or the Texas Partnership (as applicable) are otherwise permitted to incur.
14. The TW Parties hereby acknowledge Section 6.1.2 of the Original Agreement, and hereby consent to (a) the guarantee by Holdco, SFTP and SFEC of the Acquisition Company Credit Agreement and (b) the guarantee by Holdco, SFEC or any of its Subsidiaries of Indebtedness of any Person (other than the Acquisition Subsidiaries) (x) the proceeds of which are used solely to refinance, replace or otherwise repay the Acquisition Company Credit Agreement, and (y) in a principal amount not to exceed $150,000,000, plus capitalized interest outstanding under the Acquisition Company Credit Agreement, plus any other amounts pai...
