Common use of No Further Negative Pledge Clause in Contracts

No Further Negative Pledge. The Borrower will not, and will not permit any of its Subsidiaries to, enter into or suffer to exist or become effective any Contractual Obligation that prohibits or limits the ability of any Loan Party to create, incur, assume or suffer to exist any Lien upon any of its Properties, assets or revenues, whether now owned or hereafter acquired, or which requires the grant of any security for an obligation if security is granted for another obligation, except the following: (a) this Loan Agreement and the other Loan Documents, (b) covenants in documents creating Liens permitted by Section 7.02 and prohibiting further Liens on the assets encumbered thereby, (c) restrictions imposed by Requirements of Law and (d) restrictions on pledging collateral which has been pledged or posted to any Permitted Hedge Counterparty in respect of margin requirements under the terms of any Permitted Interest Rate Hedge (other than a Permitted Secured Interest Rate Hedge) to secure the obligations of the Borrower or any Subsidiary thereunder.

No Further Negative Pledge. The Borrower will not, and will not permit any of its Subsidiaries to, enter into or suffer to exist or become effective any Contractual Obligation that prohibits or limits the ability of any Loan Party to create, incur, assume or suffer to exist any Lien upon any of its Properties, assets or revenues, whether now owned or hereafter acquired, or which requires the grant of any security for an obligation if security is granted for another obligation, except the following: : (a) this Loan Agreement and the other Loan Documents, (b) covenants in documents creating Liens permitted by Section 7.02 and prohibiting further Liens on the assets encumbered thereby, (c) restrictions imposed by Requirements of Law and (d) restrictions on pledging collateral which has been pledged or posted to any Permitted Hedge Counterparty in respect of margin requirements under the terms of any Permitted Interest Rate Hedge (other than a Permitted Secured Interest Rate Hedge) to secure the obligations of the Borrower or any Subsidiary thereunder.