OBLIGATIONS NOT TO DO Sample Clauses

OBLIGATIONS NOT TO DO. The Borrower specifically assumes towards the Bank, while any amount owed to the Bank under the Contract remains unpaid, the following obligations of not to do (except in the event of authorization to the contrary of the Bank expressly and in writing): (a) In the event of incurring in a Default Event established in the Contract and while it is valid, the Borrower may not grant the direct or indirect distribution of profit, reduce its capital, pay dividends whether in cash or in kind, deliver movables or immovables, money, rights, obligations, securities and others as participation in the capital of the company. (b) Not to grant loans or endorsements or bonds in favor of third parties, for a total amount higher than US$10,000,000.00 (Ten million 00/100 Dollars) or the equivalent thereof in national currency, in addition to those valid on the Closing Date; unless it has prior written authorization from the Bank. (c) Not to grant loans or endorsements or bonds in favor of Subsidiaries, in addition to those valid on the Closing Date, to the extent that it would generate a Material Adverse Effect. (d) Not to sell assets outside the procedure established in the Security Trust Agreement for the release of the Assets of the Trust. (e) Not to donate, rent, give in leasing, leaseback, give in commodatum, constitute chattel security, mortgage, antichresis, trusts, easement and in general, dispose, constitute in real guarantee or encumber under any concept the movables and immovables, income, credits and other present rights of the Borrower in favor of third parties that may generate a Material Adverse Effect, unless it has the prior and written consent of the Bank. This obligation is excepted in the following cases: (i) in the case of goods that are part of the inventory, or (ii) in the case of obsolete goods (those whose value in the Books is equivalent to zero). (f) Not to make any significant change in the main business and/or alter the nature of the main business, except in the case of prior written authorization of the Bank. (g) Not to subordinate the Loan to other obligations the Borrower may have to third parties or to others assumed after the Contract. (h) Not to transfer, delegate or assign the Loan, its contractual position or any of the rights and/or obligations related thereto, under any method; without the prior written authorization of the Bank. (i) Not to merge, spin off, consolidate, transfer its fixed productive assets, acquire other business or make...

OBLIGATIONS NOT TO DO a) Take on debts of any other kind that could affect your payment commitments against THE CREDITOR. b) THE CREDITED Xxxx refrain from setting up mortgages or any other actual collateral and/or taxing in any other way on its assets and granting guarantees to third parties (bonds or guarantees). c) Grant personal guarantees (bonds, guarantees or be held jointly and severally), without having the written consent of THE CREDITOR. d) Make loans to affiliates or third parties without the written consent of THE CREDITOR. (e) Merge, split or consolidate with other companies.

OBLIGATIONS NOT TO DO. Unless a Majority of Creditors expressly and in writing authorizes otherwise (or a Super Majority of Creditors or Unanimity of Creditors as required by the terms of this Contract), and until the Debtor and the Joint Guarantor have fully and faithfully complied with all obligations contracted or to be contracted hereby, the Debtor and the Joint Guarantor undertake not to carry out any of the following acts or transactions:

OBLIGATIONS NOT TO DO. As long as any amount payable under the Loan Documents remains unpaid, unless otherwise expressly authorized by the Lenders, through the Administrative Agent, the Borrower and each Joint Obligor agree to comply and have their Subsidiaries and IBSA as specifically stated in each subsection below (in the latter case, as a protection mechanism for the purpose of the Securities Pledge Agreement), comply with the following. For purposes of clarity, the parties clarify and agree that IBSA does not acquire any obligation in this Loan Agreement and any obligation not to do, of the Borrower and/or the Joint Obligors related to said entity, as a guarantee protection mechanism, will be considered exclusively a Cause of Early Termination and will not give rise to forced execution or grant any recourse against IBSA. Additionally, the parties to this Loan Agreement expressly agree and acknowledge that the provisions contained in subsections (c) and (d) of this Clause Twelfth shall not apply with respect to assets and rights other than shares of IBSA and any product ( including, without limitation, dividends and distributions) thereof, which are in the equity of the Joint Obligors. Therefore, the Joint Obligors may dispose of, encumber and dispose by any legally permitted means, the assets that are in their equity other than IBSA shares and any product (including, without limitation, dividends and distributions) of the same, without that this is considered a Default and without the need for the consent or consent of the Lenders or Agents of this Loan Agreement.