Negative Pledge Clauses Exemplaires
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Negative Pledge. (a) The Issuer shall not, create or permit to subsist any Security over any of its assets or its shares (other than Security pursuant to the Security Documents), or otherwise dispose of the Equipment or any other assets or shares (subject to the provisions of the Lease Agreement and the provisions of the Fiducie Agreement).
(b) The Issuer shall not enter into a single transaction or a series of transactions (whether related or not) and whether voluntary or involuntary to sell, lease, transfer or otherwise dispose of the Equipment until full repayment of any sums due under the Bonds together with accrued Coupons, and all other amounts accrued under these Terms and Conditions, including but not limited to enforcement costs and where applicable, an Early Redemption Fee, unless for the benefit of the Bondholders’ Representative, save as otherwise permitted under the Lease Agreement.
Negative Pledge. So long as any of the Notes remain outstanding, the Issuer undertakes that it will not, and will procure that none of its Principal Subsidiaries (as defined below) will, create any Security Interest other than the Permitted Security Interest upon the whole or any part of the Issuer or its Principal Subsidiaries’ business (fonds de commerce), assets, revenues or rights, present or future, to secure any Financial Indebtedness incurred or guaranteed by the Issuer or any of its Principal Subsidiaries, unless at the same time or prior thereto, the Issuer’s obligations under the Notes are equally and rateably secured therewith. For the purposes of these Conditions:
(a) moneys borrowed and debit balances at banks or other financial institutions;
(b) any note purchase facility or the issue of bonds, notes, debentures, loan stock or any similar instrument or of bills of exchange, promissory notes, bons de caisse or any similar instrument;