Negative Pledges, Etc Sample Clauses
A Negative Pledge clause restricts a borrower from creating or permitting any security interests or liens over specified assets, except as expressly allowed in the agreement. In practice, this means the borrower cannot pledge its assets as collateral to other lenders, ensuring that the lender under the current agreement maintains its priority position regarding those assets. The core function of this clause is to protect the lender from being subordinated to other creditors, thereby reducing the risk of losing repayment priority if the borrower defaults.
Negative Pledges, Etc. Enter into any agreement subsequent to the Closing Date (other than a Loan Document) which (a) prohibits the creation or assumption of any Lien upon any of the Collateral, including, without limitation, any hereafter acquired property, (b) specifically prohibits the amendment or other modification of this Agreement or any other Loan Document, or (c) could reasonably be expected to have a Material Adverse Effect.
Negative Pledges, Etc. Enter into any agreement (other than this Agreement or any other Loan Document) which (a) prohibits the creation or assumption of any Lien upon any of the Collateral, including, without limitation, any hereafter acquired property, or (b) specifically prohibits the amendment or other modification of this Agreement or any other Loan Document.
Negative Pledges, Etc. The Company shall not, and shall not permit any Restricted Subsidiary to, enter into any agreement prohibiting compliance by the Company with the provisions of the introduction to Section 9.01 or restricting the ability of the Company or any other Loan Party to amend or otherwise modify this Agreement or any other Loan Document.
Negative Pledges, Etc. The Borrower shall not and shall not permit any of its Subsidiaries to, enter into (or suffer to exist) any agreement prohibiting (i) the creation or assumption of any Lien upon the Borrower or such Subsidiary’s properties, revenues or assets, whether now owned or hereafter acquired; (ii) the ability of the Borrower or any such Subsidiary to amend or otherwise modify this Agreement or any other Loan Document; or (iii) the ability of any of the Borrower’s Subsidiaries to make any payments, directly or indirectly, to the Borrower by way of dividends, advances, repayments of loans or advances, reimbursements of management and other intercompany charges, expenses and accruals or other returns on investments, or any other agreement or arrangement which restricts the ability of any such Subsidiary to make any payment, directly or indirectly, to the Borrower other than (A) this Agreement and each Loan Document; (B) agreements existing as of the Closing Date and identified in Schedule 6.2(e); (C) agreements governing Debt permitted by clause (ii) of Section 6.2(i) as in effect on the Closing Date, which agreements shall be in form and substance reasonably acceptable to the Administrative Agent; (D) agreements governing Debt permitted by clause (v) of Section 6.2(i), with any such restrictions being applicable solely to the assets financed with the proceeds of such Debt; (E) the Bonding Agreement, the ▇▇▇▇▇ Fargo Documents, the Intercreditor Agreement and the Note Indenture; (F) such restrictions or circumstances existing under or by reason of Applicable Laws; and (G) such restrictions or encumbrances existing under or by reason of customary non-assignment provisions in operating leases, bareboat charter agreements, and licenses of real or personal property (including intellectual property) entered into by any Loan Party or lessee or licensee in the ordinary course of business (provided that such restrictions and encumbrances pertain only to the property that is the subject matter of the applicable lease or licenses).
Negative Pledges, Etc. Enter into any agreement (excluding this Agreement or any other Transaction Document) prohibiting (a) the Borrower from amending or otherwise modifying this Agreement or any other Transaction Document, or (b) the creation or assumption of any lien upon the properties, revenues or assets of the Borrower, whether now owned or hereafter acquired.
Negative Pledges, Etc. Enter into any agreement subsequent to the Closing Date (other than a Loan Document, the Existing 2016 Term Loan Facility and the loan documents thereunder, the Revolving/Term Facility and the loan documents thereunder, and any loan document entered into in connection with other Unsecured Debt permitted hereunder) which (a) prohibits the creation or assumption of any Lien upon any of the Borrowing Base Properties or the ownership interest therein, including, without limitation, any hereafter acquired property, (b) specifically prohibits the amendment or other modification of this Agreement or any other Loan Document, or (c) could reasonably be expected to have a Material Adverse Effect.
Negative Pledges, Etc. Enter into any agreement (other than this Agreement or any other Loan Document, the Senior Secured Note Indenture or the Senior Secured Notes or any agreement relating to any Indebtedness permitted pursuant to Sections 7.03(ii) and (vi) but only with respect to the property securing such Indebtedness) which (a) prohibits the creation or assumption of any Lien upon any of the Collateral, including, without limitation, any hereafter acquired property, or (b) specifically prohibits the amendment or other modification of this Agreement or any other Loan Document.
Negative Pledges, Etc. No Company will enter into any agreement, amendment or arrangement (excluding this Agreement or any other Loan Document) prohibiting or restricting (a) it from amending or otherwise modifying this Agreement or any other Loan Document, (b) the creation or assumption of any Encumbrances upon its properties, revenues or assets, whether now owned or hereafter acquired, or (c) the ability of any Subsidiary to make any payment or distribution, directly or indirectly, to the Parent.
Negative Pledges, Etc. The Parent Guarantor shall not, and shall not permit any Restricted Subsidiary to, enter into any agreement prohibiting compliance by the Parent Guarantor with the provisions of the introduction to Section 10(a) or restricting the ability of the Parent Guarantor or any other Guarantor to amend or otherwise modify this Guaranty or any other Loan Document.
Negative Pledges, Etc. Enter into any agreement after the date hereof, prohibiting (a) any Company from amending or otherwise modifying this Agreement or any other Transaction Document or (b) the creation or assumption of any lien upon the properties, revenues or assets of any Company, whether now owned or hereafter acquired.