Additional Negative Covenants definition

Additional Negative Covenants has the meaning assigned to such term in Section 6.14(a).
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Examples of Additional Negative Covenants in a sentence

  • The Borrower will not, nor will it permit any other Loan Party to, make any Acquisition if, as at the time of such Acquisition and immediately after giving effect thereto, Total Debt shall exceed 30% of Total Capitalization; provided that this Section shall not be operative at any time (a) that the Subsidiary Guarantees and the Collateral shall not be required to be in effect pursuant to Sections 5.11(b) and 5.12(b), respectively, or (b) during the Additional Negative Covenants Applicability Period.

  • Any such Additional Negative Covenants shall be in addition to and without limitation of the other existing negative covenants set forth in Article VII or any other provision in the Loan Agreement.

  • Additional Negative Covenants of Tenant.....................48 Section 18.03.

  • If Borrower does not consummate a Bond Issuance on or prior to February 9, 2018, then the Lenders, the Administrative Agent and Borrower shall use commercially reasonable efforts to cooperate in good faith to negotiate Additional Negative Covenants reasonably acceptable to Borrower and the Required Lenders, and this Agreement shall be amended with the consent of Borrower, Administrative Agent and the Required Lenders to incorporate and document such Additional Negative Covenants.

  • Any such Additional Negative Covenants shall be in addition to and without limitation of the other existing negative covenants set forth in Article VII or any other provision in this Agreement.

  • Additional Negative Covenants (§7) Permit the Restricted Subsidiaries to own any assets or engage in any commercial activities.

  • Additional Negative Covenants provisions including asset disposition, change of ownership and engaging in substantially different business activities.

Related to Additional Negative Covenants

  • Negative Covenants means any negative or similar restrictive covenant (including, without limitation, under Article 7) made by the Borrowers in this Agreement or in any other Loan Document.

  • Affirmative Covenants The following affirmative covenants, among others, if any, to be negotiated in the Senior Facilities Documentation, will apply (to be applicable to the Borrower and its restricted subsidiaries), subject to customary (consistent with the Documentation Precedent) and other baskets, exceptions and qualifications to be agreed upon: maintenance of corporate existence and rights; performance and payment of obligations; delivery of annual and quarterly consolidated financial statements (accompanied by customary management discussion and analysis and (annually) by an audit opinion from nationally recognized auditors that is not subject to any qualification as to scope of such audit or going concern) (other than solely with respect to, or resulting solely from an upcoming maturity date under any series of indebtedness occurring within one year from the time such opinion is delivered) (with extended time periods to be agreed for delivery of the first annual and certain quarterly financial statements to be delivered after the Closing Date) and an annual budget (it being understood that the public REIT reporting that includes the Borrower shall satisfy the Borrower’s reporting obligations so long as it includes a consolidating income statement and balance sheet for the Borrower); delivery of notices of default and material adverse litigation, ERISA events and material adverse change; maintenance of properties in good working order; maintenance of books and records; maintenance of customary insurance; commercially reasonable efforts to maintain ratings (but not a specific rating); compliance with laws; inspection of books and properties; environmental; additional guarantors and additional collateral (subject to limitations set forth under the captions “Guarantees” and “Security”); further assurances in respect of collateral matters; use of proceeds; and payment of taxes.

  • Additional Covenant means any covenant in respect of the financial condition or financial position of the Company, including, but not limited to, covenants that specify or require the maintenance of certain financial ratios applicable to the Company, and the default provision related thereto (regardless of whether such provision is labeled or otherwise characterized as a covenant or a default).

  • Financial Covenant Event of Default has the meaning specified in Section 8.01(b).

  • Financial Covenant Default has the meaning assigned to such term in Section 8.01(6).