Affirmative Covenants and Negative Covenants Sample Clauses

Affirmative Covenants and Negative Covenants. The Exit Loan Documents will contain affirmative and negative covenants customarily found in loan agreements for similar financings (as determined by the Required DIP Lenders), giving due regard to the Precedent Credit Agreement with qualifiers with respect to the Cases and will, in any event permit (i) working capital facilities incurred by foreign subsidiaries in an aggregate amount to be agreed and (ii) additional indebtedness that ranks senior or pari passu with the Exit Facility in an amount of up to $200 million (the “Accordion Basket”); provided that to the extent the all-in yield of any indebtedness incurred under the Accordion Basket prior to the first anniversary of the Exit Date would exceed the all-in yield of the Exit Loans by more than 0.50%, the interest rate applicable to the Exit Loans shall be increased such that the all-in yield of such indebtedness exceeds the all-in yield of the Exit Loans by no more than 0.50%. The incurrence of indebtedness under the Accordion Basket (other than any bona fide revolving credit facility provided by lenders or institutions that customarily provide such revolving credit facilities in the ordinary course of their business and who are not Exit Lenders prior thereto) shall require (i) the consent of Exit Lenders holding at least 50.01% of the Exit Loans (the “Required Exit Lenders”) unless all Exit Lenders have been given a bona fide opportunity to participate in such incremental indebtedness on a ratable basis and (ii) the absence of a default or event of default. No incremental indebtedness, including under the Accordion Basket, may be incurred in connection with (or in furtherance of contemplation of) the solicitation of consents from the Exit Lenders. No transfers, dispositions, investments, or other transactions (including, without limitation, subsidiary designations) by any Loan Party shall be permitted that result in any person holding intellectual property material to the business of the Company and its subsidiaries as a whole unless such person is a Loan Party. No transfers, dispositions, investments, or other transactions (including, without limitation, subsidiary designations) from any Loan Party shall be permitted that result in any person holding intellectual property material to the business of the Company and its subsidiaries as a whole unless such person is a Loan Party.
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Affirmative Covenants and Negative Covenants. None of the Credit Parties is in violation of any of the covenants contained in the DIP Credit Agreement or any of the Loan Documents.
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Affirmative Covenants and Negative Covenants 
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Related to Affirmative Covenants and Negative Covenants

  • AFFIRMATIVE COVENANTS Until the Commitments have expired or been terminated and the principal of and interest on each Loan and all fees payable hereunder shall have been paid in full and all Letters of Credit shall have expired or terminated and all LC Disbursements shall have been reimbursed, the Borrower covenants and agrees with the Lenders that:

  • 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 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:

  • 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.

  • 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:

  • Affirmative Covenants of Seller On and as of the date hereof and each Purchase Date and until this Agreement is no longer in force with respect to any Transaction, Seller covenants that:

  • Additional Affirmative Covenants All affirmative covenants made by the Borrowers or Guarantors or any of them in the Credit Agreement are incorporated herein by reference and are hereby also made by Trustor as to itself and the Trust Property as though such covenants were set forth at length herein as the covenants of Trustor.

  • Affirmative Covenants of the Company The Company hereby covenants and agrees as follows:

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

  • CERTAIN AFFIRMATIVE COVENANTS The Company or, to the extent required hereunder, any Subsidiary should fail to perform or comply with Sections 8(A) through 8(H)(ii), 8(H)(vi), (vii), and (viii), or any reporting covenant set forth in any Supplement hereto, and such failure continues for 15 days after written notice thereof shall have been delivered by CoBank to the Company.

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