Common use of No Commercial Provisions Clause in Contracts

No Commercial Provisions. The provisions of the Security Documents granting New Security shall operate only so as to create and preserve effective security and shall not impose commercial undertakings or include any provisions which are credit protections or which seek to preserve the value of assets, unless those are legally required for the creation, continued effectiveness or perfection of the New Security. Representations and further assurance provisions shall be included in the Security Documents granting New Security to the extent necessary or desirable to create security under applicable law. Additional undertakings shall only be included if they will not unduly interfere with the normal running of the business of such Additional Guarantor.

Appears in 4 contracts

Samples: Indenture (Marconi Corp PLC), Indenture (Marconi Corp PLC), Indenture (Marconi Corp PLC)

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