Negative Covenants of Borrower definition

Negative Covenants of Borrower in Section 8 of the Existing Credit Agreement (and all related definitions in the Existing Credit Agreement, to the extent not otherwise defined in the Credit Agreement) shall instead apply. Notwithstanding the foregoing, any reference in Section 8 of the Existing Credit Agreement to Banks, Majority Banks or Administrative Agent shall be deemed to be the Lender for the purposes of the Credit Agreement. In addition to the Negative Covenants of Borrower in Section 8 of the Existing Credit Agreement (Sections 8.1 to 8.14), the following covenants shall be applicable while the Intercreditor Agreement remains in effect (with the definitions in the Credit Agreement to apply to such covenants, unless otherwise specified below):
Sample 1

Examples of Negative Covenants of Borrower in a sentence

  • Default shall be made by the Borrowers in the due observance and performance of any covenant, condition or agreement contained in ARTICLE VII (Affirmative Covenants of Borrower) (except for Section 7.8 (Maintenance of Properties), Section 7.9 (Maintenance of the Collateral), Section 7.10 (Other Liens, Security Interests, etc.), Section 7.17 (ERISA)) or in ARTICLE VIII (Negative Covenants of Borrower).

  • Default shall be made by Guarantors in the due observance and performance of any covenant, condition or agreement contained in Article 7 (Affirmative Covenants of Guarantors) (except for Section 7(h) (Maintenance of Properties), Section 7(g) (Maintenance of the Collateral), Section 7(i) (Other Liens, Security Interests, etc.), Section 7(l) (ERISA)) or in Article 8 (Negative Covenants of Borrower).

  • The Bank hereby waives the remedies available to the Bank on account of the violation of Section 6.0l(g)(3), bearing the heading Ratio of Total Funded Debt to EBITDA under the Affirmative and Negative Covenants of Borrower section of the Agreement, with respect to the Company's failure to meet this Ratio at May 27, 2000, and continuing through September 1, 2000.

  • Negative Covenants of Borrower and Servicer......................................

  • Section 9.1 Affirmative Covenants 28 Section 9.2 Negative Covenants of Borrower 32 Section 10.1 Termination Events 34 Section 10.2 Effect of Termination Event 36 Section 11.1 The Servicer 36 Section 11.2 Certain Agreements of the Servicer 36 Section 12.1 Authorization and Action 37 Section 12.2 Administrator’s and Collateral Agent’s Reliance, Etc.

  • Negative Covenants of Borrower...........................................................

  • Negative Covenants of Borrower 3.1. Debt 3.2. Liens 3.3. Loans and Other Investments 3.4. Change in Business 3.5. Accounts 3.6. Transactions with Affiliates 3.7. No Change in Name, Offices; Removal of Collateral 3.8. No Sale, Leaseback 3.9. Margin Stock 3.10.

  • Negative Covenants of Borrower............................................

Related to Negative Covenants of Borrower

  • Negative Covenants The Postpetition Financing Documents shall contain negative covenants of the Borrower acceptable to the Lender.

  • Affirmative Covenants The following affirmative covenants, among others, if any, to be negotiated in the Senior Facilities Documentation, will apply (to be applicable to the Borrower and its restricted subsidiaries), subject to customary (consistent with the Documentation Precedent) and other baskets, exceptions and qualifications to be agreed upon: maintenance of corporate existence and rights; performance and payment of obligations; delivery of annual and quarterly consolidated financial statements (accompanied by customary management discussion and analysis and (annually) by an audit opinion from nationally recognized auditors that is not subject to any qualification as to scope of such audit or going concern) (other than solely with respect to, or resulting solely from an upcoming maturity date under any series of indebtedness occurring within one year from the time such opinion is delivered) (with extended time periods to be agreed for delivery of the first annual and certain quarterly financial statements to be delivered after the Closing Date) and an annual budget (it being understood that the public REIT reporting that includes the Borrower shall satisfy the Borrower’s reporting obligations so long as it includes a consolidating income statement and balance sheet for the Borrower); delivery of notices of default and material adverse litigation, ERISA events and material adverse change; maintenance of properties in good working order; maintenance of books and records; maintenance of customary insurance; commercially reasonable efforts to maintain ratings (but not a specific rating); compliance with laws; inspection of books and properties; environmental; additional guarantors and additional collateral (subject to limitations set forth under the captions “Guarantees” and “Security”); further assurances in respect of collateral matters; use of proceeds; and payment of taxes.

  • Financial Covenants means the covenants set forth in Section 6.2.

  • Loan Agreements means any other loan agreements entered into by and between the Trust and one or more of the Borrowers pursuant to which the Trust will make Loans to such Borrowers from moneys on deposit in the Project Fund, excluding the Project Loan Account, financed with the proceeds of the Trust Bonds.

  • Financial Covenant Event of Default has the meaning specified in Section 8.01(b).

  • Financial Covenant has the meaning specified in Section 7.08.

  • Loan Agreement shall have the meaning assigned to such term in the recitals.

  • Financial Covenant Debt of any Person means Indebtedness of the type specified in clauses (a), (b), (d), (e), (f) and (h) of the definition of “Indebtedness,” non-contingent obligations of the type specified in clause (c) of such definition and Guaranty Obligations of any of the foregoing.

  • Borrower Loan Agreement means the Borrower Loan Agreement, of even date herewith, between the Governmental Lender and the Borrower, as supplemented, amended or replaced from time to time in accordance with its terms.

  • Environmental covenant means a servitude arising under an environmental response project that imposes activity and use limitations.

  • Construction Loan Agreement means the Loan Agreement to be entered into by and between the Construction Lender and the Partnership, as amended.

  • Events of Default has the meaning specified in Section 6.01.

  • Prior Loan Agreement is defined in Recital A of this Agreement.

  • Financial Covenant Default has the meaning assigned to such term in Section 8.01(6).

  • Restrictive Covenant Agreements has the meaning set forth in the Recitals.

  • Term Loan Agreement has the meaning assigned to such term in the recitals of this Agreement.

  • Maintenance Covenant A covenant by any borrower to comply with one or more financial covenants (including without limitation any covenant relating to a borrowing base, asset valuation or similar asset-based requirement) during each reporting period, that exists regardless of whether or not such borrower has taken any specified action and includes a covenant that applies only when the related loan is funded.

  • Existing Loan Agreement has the meaning set forth in the recitals to this Agreement.

  • Mezzanine Loan Agreement means that certain Mezzanine Loan Agreement, dated as of the date hereof, between Mezzanine Borrower and Mezzanine Lender, as the same may be amended, restated, replaced, supplemented or otherwise modified from time to time.

  • Funding Loan Agreement means this Funding Loan Agreement, of even date herewith, by and among the Funding Lender, the Governmental Lender and the Fiscal Agent, as it may from time to time be supplemented, modified or amended by one or more funding loan agreements, indentures or other instruments supplemental hereto entered into pursuant to the applicable provisions hereof.

  • Subordination Provisions has the meaning specified in Section 8.01(l).

  • Covenants means the covenants set forth in Section 4 of this Agreement.

  • Senior Loan Agreement means that certain Term Loan Agreement, dated as of June 26, 2015, by and among Borrower and Senior Lenders, as amended, restated, supplemented or otherwise modified from time to time.

  • Restrictive Covenant has the meaning set forth in Section 6(c).

  • Existing Term Loan Agreement has the meaning set forth in the recitals hereto.

  • Project Loan Agreement means the Project Loan Agreement dated as of the date hereof among the Borrower, the Governmental Lender and the Fiscal Agent, as amended, supplemented or restated from time to time.