Real Estate-Negative Pledge Sample Clauses
A Real Estate Negative Pledge is a contractual provision that restricts a party, typically a borrower, from creating any security interests or liens over specified real property assets. In practice, this means the borrower cannot use the property as collateral for other loans or encumber it in ways that would compromise the lender’s interests, unless the lender gives prior consent. The core function of this clause is to protect the lender by ensuring that the value of the real estate remains unencumbered, thereby reducing the risk of competing claims on the property and preserving the lender’s position in case of default.
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Real Estate-Negative Pledge. Borrower will not enter into any agreement, document, instrument or other arrangement (except with or in favor of Lender) with any Person which directly or indirectly prohibits or has the effect of prohibiting Borrower or any Subsidiary from assigning, mortgaging, pledging, granting a security interest in or upon, or encumbering any of Borrower’s or any Subsidiary’s Real Estate.
Real Estate-Negative Pledge. Borrower shall not permit any liens or encumbrances to exist on Borrower's real property located at ▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇▇▇ ▇▇▇., ▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇, except for liens for taxes not delinquent and covenants, conditions and restrictions. Within 45 days after the date hereof, Borrower shall provide TBCC with a preliminary title report confirming the foregoing.
Real Estate-Negative Pledge an agreement not to create, incur, assume, permit, or suffer to exist, any Lien on, or sell, assign, or otherwise transfer, or otherwise permit the sale, assignment or transfer of any of the Borrower’s real property, now owned or hereafter acquired, or any improvements thereon, together with an agreement not to enter into, assume or permit to exist any such agreement with any third party with respect to any such property. Upon writtenrequest of the Borrower, ▇▇▇▇▇▇ will consider in good faith the carve out of specific properties from the negative pledge agreement should it be a requirement in order for the Borrower to execute on a New Market Tax Credit transaction at a future point in time, and the parties shall work in good faith in memorializing all representations, terms, conditions, and related agreements respecting the same into definitive documents.