Common use of STANDARD NEGATIVE COVENANTS Clause in Contracts

STANDARD NEGATIVE COVENANTS. So long as any amounts remain outstanding and unpaid under this Agreement or so long as any commitment under this Agreement remains in effect, the Borrower will not and will ensure that its subsidiaries and each of the Guarantors will not: a) Create, incur, assume, or suffer to exist, any mortgage, deed of trust, pledge, lien, security interest, assignment, charge, or encumbrance (including without limitation, any conditional sale, or other title retention agreement, or finance lease) of any nature, upon or with respect to any of its assets or undertakings, now owned or hereafter acquired, except for those Permitted Liens, if any, set out in the Letter. b) Create, incur, assume or suffer to exist any other indebtedness for borrowed money (except for indebtedness resulting from Permitted Liens, if any) or guarantee or act as surety or agree to indemnify the debts of any other Person. c) Merge or consolidate with any other Person, or acquire all or substantially all of the shares, assets or business of any other Person. d) Sell, lease, assign, transfer, convey or otherwise dispose of any of its now owned or hereafter acquired assets (including, without limitation, shares of stock and indebtedness of subsidiaries, receivables and leasehold interests), except for inventory disposed of in the ordinary course of business. e) Terminate or enter into a surrender of any lease of any property mortgaged under the Bank Security. f) Cease to carry on the business currently being carried on by each of the Borrower, its subsidiaries, and the Guarantors at the date hereof. g) Permit any change of ownership or change in the capital structure of the Borrower.

STANDARD NEGATIVE COVENANTS. So long as any amounts remain outstanding and unpaid under this Agreement or so long as any commitment under this Agreement remains in effect, the Borrower will not and will ensure that its subsidiaries and each of the Guarantors will not: a) Create, incur, assume, or suffer to exist, any mortgage, deed of trust, pledge, lien, security interest, assignment, charge, or encumbrance (including without limitation, any conditional sale, or other title retention agreement, or finance lease) of any nature, upon or with respect to any of its assets or undertakings, now owned or hereafter acquired, except for those Permitted Liens, if any, set out in the Letter. b) Create, incur, assume or suffer to exist any other indebtedness for borrowed money (except for indebtedness resulting from Permitted Liensin excess of USD$2,500,000 in the aggregate, if any) or guarantee or act as surety or agree to indemnify the debts of any other Person in excess of USD$2,500,000 in the aggregate, or make any loans or advances to any other Person. For clarity, indebtedness will not include trade credit in the ordinary course of business. c) Merge Merge, amalgamate or consolidate with any other Person, or acquire any other entity, or acquire or form any subsidiary in whole or in part, or acquire all or substantially all of the shares, assets or business of any other PersonPerson except as defined in Permitted Change in Control. d) Sell, lease, assign, transfer, convey or otherwise dispose of any of its now owned or hereafter acquired assets (including, without limitation, shares of stock and indebtedness of subsidiaries, receivables and leasehold interests), except for inventory disposed of in the ordinary course of business. e) Terminate or enter into a surrender of any lease of any property mortgaged under the Bank Security. f) Cease to carry on the business currently being carried on by each of the Borrower, its subsidiaries, and the Guarantors at the date hereof. g) Permit any change of ownership or change in the capital structure of the Borrower.Renin Group without the Bank’s prior written consent, other than a Permitted Change in Control. 

STANDARD NEGATIVE COVENANTS. So long as any amounts remain outstanding and unpaid under this Agreement or so long as any commitment under this Agreement remains in effect, the Borrower will not and will ensure that its subsidiaries and each of the Guarantors will not: a) Create, incur, assume, or suffer to exist, any mortgage, deed of trust, pledge, lien, security interest, assignment, charge, or encumbrance (including without limitation, any conditional sale, or other title retention agreement, or finance lease) of any nature, upon or with respect to any of its assets or undertakings, now owned or hereafter acquired, except for those Permitted Liens, if any, set out in the Letter. b) Create, incur, assume or suffer to exist any other indebtedness for borrowed money (except for indebtedness resulting from Permitted Daisytek (Canada), Inc. March 15, 2001 Liens, if any) or guarantee or act as surety or agree to indemnify the debts of any other Person. c) Merge or consolidate with any other Person, or acquire all or substantially all of the shares, assets assets, or business of any other Person. d) Sell, lease, assign, transfer, convey or otherwise dispose of any of its now owned or hereafter acquired assets (including, without limitation, shares of stock and indebtedness of subsidiaries, receivables and leasehold interests), except for inventory disposed of in the ordinary course of business. e) Terminate or enter into a surrender of any lease of any property mortgaged under the Bank Security. f) Cease to carry on the business currently being carried on by each of the Borrower, its subsidiaries, and the Guarantors at the date hereof. g) Permit any change of ownership or change in the capital structure of the Borrower.