Subsidiary Negative Covenants Sample Clauses

Subsidiary Negative Covenants. The Borrower hereby covenants and undertakes with the Lenders that, from the date hereof and so long as any principal, interest or other moneys are owing in respect of this Agreement, under the Note or under any of the Security Documents, the Borrower will procure that no Subsidiary will:
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Subsidiary Negative Covenants. 38 (a) Limitations on Ability to Make Distributions..................39 (b) Use of Corporate Funds........................................39 (c) Issuance of Shares............................................39 9.4 Vessel Valuations...................................................39 9.5 Asset Maintenance...................................................39 9.6 Inspection and Survey Reports.......................................40 9.7 Vessel Substitution Sales...........................................40 9.8 Tender of Qualified Substitute Vessel...............................40 10. ASSIGNMENT..........................................................41 11. ILLEGALITY, INCREASED COST, NON-AVAILABILITY, ETC...................41 11.1 Illegality..........................................................41
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Subsidiary Negative Covenants. 40 10.4 Vessel Valuations.....................................................40 10.5 Asset Maintenance.....................................................40 (a) If at any time....................................................40 (b) 41 10.6 Inspection and Survey Reports.........................................41 11. ASSIGNMENT..............................................................41 12. ILLEGALITY, INCREASED COST, NON-AVAILABILITY, ETC.......................41 12.1 Illegality............................................................41
Sample 1

Related to Subsidiary Negative Covenants

  • Borrower Negative Covenants Borrower covenants and agrees with Lender that:

  • COMPANY'S NEGATIVE COVENANTS Company covenants and agrees that, so long as any of the Commitments hereunder shall remain in effect and until payment in full of all of the Loans and other Obligations and the cancellation or expiration of all Letters of Credit, unless Requisite Lenders shall otherwise give prior written consent, Company shall perform, and shall cause each of its Subsidiaries to perform, all covenants in this Section 7.

  • Certain Negative Covenants Each of the Borrowers covenants and agrees that, so long as any Loan, Unpaid Reimbursement Obligation, Letter of Credit or Note is outstanding or any Lender has any obligation to make any Loans or the Administrative Agent has any obligations to issue, extend or renew any Letters of Credit:

  • BORROWER'S NEGATIVE COVENANTS Borrower covenants and agrees that, so long as any of the Commitments hereunder shall remain in effect and until payment in full of all of the Loans and other Obligations and the cancellation or expiration of all Letters of Credit, unless Requisite Lenders shall otherwise give prior written consent, Borrower shall perform, and shall cause each of its Subsidiaries to perform, all covenants in this Section 7.

  • Additional Negative Covenants Not to, without the Bank's written consent:

  • NEGATIVE COVENANTS So long as any Lender shall have any Commitment hereunder, any Loan or other Obligation hereunder shall remain unpaid or unsatisfied, or any Letter of Credit shall remain outstanding, the Borrower shall not, nor shall it permit any Subsidiary to, directly or indirectly:

  • CERTAIN NEGATIVE COVENANTS OF THE BORROWER The Borrower covenants and agrees that, so long as any Loan, Unpaid Reimbursement Obligation, Letter of Credit or Note is outstanding or any Bank has any obligation to make any Loans or the Agent has any obligations to issue, extend or renew any Letters of Credit:

  • AFFIRMATIVE AND NEGATIVE COVENANTS The Borrower covenants and agrees that, so long as any Bank has any Commitment hereunder or any Obligations remain unpaid:

  • Negative Covenant Except as otherwise expressly permitted by this Agreement, between the date of this Agreement and the Closing Date, Sellers will not, and will cause the Company not to, without the prior consent of Buyer, take any affirmative action, or fail to take any reasonable action within their or its control, as a result of which any of the changes or events listed in Section 3.16 is likely to occur.

  • Negative Covenants of the Borrower So long as any Advance shall remain unpaid or the Liquidity Provider shall have any Maximum Commitment hereunder or the Borrower shall have any obligation to pay any amount to the Liquidity Provider hereunder, the Borrower will not appoint or permit or suffer to be appointed any successor Borrower without the prior written consent of the Liquidity Provider, which consent shall not be unreasonably withheld or delayed.

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