Negative pledge Примери клазула

Negative pledge. 11.2.1. If the Borrower creates, or permits the creation of any lien on any of the Public Assets as security for any foreign currency debt (contingent or otherwise), the Borrower undertakes to expressly provide that such lien will ipso facto equally and ratably secure the payment of the Borrower’s indebtedness to the Lender under this Loan Agreement. If any statutory lien shall be created on any Public Assets, as security for any foreign currency debt, the Borrower shall grant to the Lender an equivalent lien satisfactory to the Lender;

Negative pledge. The Borrower shall not and shall ensure that each of its agencies shall not create or permit to subsist any Security over all or any part of its present and future properties, assets or revenues, in each case, which are related to the Project (including the goods, materials and equipment supplied under the Commercial Contract and the other assets constituting part of the Project), to secure any External Indebtedness of Serbia without the Agent's prior written consent (acting on instruction of the Required Lenders). 19.7 Disposal The Borrower shall not sell, transfer or dispose of the whole or any part of its business or its assets, in each case, which are related to the Project (including the goods, materials and equipment supplied under the Commercial Contract and the other assets constituting part of the Project), whether by a single transaction or by a number of transactions.

Negative pledge. The Borrower shall not and shall ensure that each of its agencies shall not, without the prior written consent of the Lenders, create or permit to subsist any Encumbrance over all or any of its present or future assets other than a Permitted Encumbrance.