Common use of More Restrictive Agreements Clause in Contracts

More Restrictive Agreements. Without limiting the terms of §8.1, should the Borrower enter into or modify any agreements or documents pertaining to any existing or future Indebtedness, which agreements or documents include covenants (whether affirmative or negative), warranties, representations, defaults or events of default (or any other provision which may have the same practical effect as any of the foregoing) which are individually or in the aggregate more restrictive against the Borrower than those set forth herein or in any of the other Loan Documents, the Borrower shall promptly notify the Agent and, if requested by Majority Lenders, the Borrower, the Agent and the Majority Lenders shall promptly amend this Agreement and the other Loan Documents to include some or all or such more restrictive provisions as determined by the Majority Lenders in their sole discretion. Notwithstanding the foregoing, this §7.21 shall not apply to covenants in agreements or documents relating to Indebtedness that relate only to specific Real Estate that is collateral for such Indebtedness.

Appears in 3 contracts

Samples: Unsecured Revolving Credit Agreement (Amerivest Properties Inc), Revolving Credit Agreement (Amerivest Properties Inc), Revolving Credit Agreement (Amerivest Properties Inc)

AutoNDA by SimpleDocs

More Restrictive Agreements. Without limiting the terms of §Section 8.1, should the Borrower enter into or modify any agreements or documents pertaining to any existing or future Indebtedness, Debt Offering or Equity Offering, which agreements or documents include covenants (whether affirmative or negative), warranties, representations, defaults or events of default (or any other provision which may have the same practical effect as any of the foregoing) which are individually or in the aggregate more restrictive against the Borrower or its Subsidiaries than those set forth herein or in any of the other Loan Documents, the Borrower shall promptly notify the Agent and, if requested by the Majority Lenders, the Borrower, the Agent Agent, and the Majority Lenders shall promptly amend this Agreement and the other Loan Documents to include some or all or of such more restrictive provisions as determined by the Majority Lenders in their sole discretion. Notwithstanding the foregoing, this §7.21 shall not apply to covenants in agreements or documents relating to Indebtedness that relate only to specific Real Estate that is collateral for such Indebtedness.

Appears in 1 contract

Samples: Revolving Credit Agreement (Wellsford Real Properties Inc)

AutoNDA by SimpleDocs
Time is Money Join Law Insider Premium to draft better contracts faster.