Common use of No Negative Pledge Clause in Contracts

No Negative Pledge. The Borrower shall not enter into, or permit any of its Subsidiaries to enter into, any agreement that restricts its ability to create or suffer to exist any Lien, other than one which expressly permits the Liens contemplated by this Agreement and any agreement for the refinancing of the Facility.

Appears in 3 contracts

Samples: Credit Agreement (Elder Beerman Stores Corp), Credit Agreement (Elder Beerman Stores Corp), Credit Agreement (Elder Beerman Stores Corp)

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No Negative Pledge. The Borrower shall not, and shall not enter into, or permit any of its Subsidiaries to to, enter into, into any agreement that restricts its ability to create or suffer to exist any Lien, other than one which an agreement that expressly permits the Liens contemplated by this Agreement and the other Loan Documents and any agreement for the refinancing of the Facility.

Appears in 1 contract

Samples: Credit Agreement (Elder Beerman Stores Corp)

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