Negative Covenant definition

Negative Covenant means a promise or covenant by any Person to not act, perform, suffer, permit or consent to.

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Negative Covenant means any negative covenant (including but not limited to a negative pledge clause or asset disposal clause) that is either more restrictive ((a) on the Guarantor, the relevant member of the Guarantor Group or the consolidated Guarantor Group or (b) on the Borrower, the relevant member of the Borrower Group or the consolidated Borrower Group) than any similar provision included in this Contract or materially more beneficial (to the Other Person) than any similar provision (for the benefit of the Bank) included in this Contract;

Negative Covenant means a promise or covenant by any Person to not act, perform, suffer, permit or consent to. "Nominal Principal Amount" shall have the meaning ascribed to such term in Section 4.24 hereof. "Note" shall mean that certain Mortgage Note, dated the date hereof, made by Borrower to Lender, in the original principal amount of $20,700,000.00, as the same may hereafter be amended, modified, extended or substituted from time to time. "Notices" shall have the meaning ascribed to such term in Section 6.6 hereof. "Obligated Party" shall have the meaning ascribed to such term in Section 5.2(i) hereof. "Obligations" shall mean Borrower's obligation to pay the principal, interest and any other sums payable to Lender in respect of the Loan hereunder and/or under the Note, the Mortgage or any of the other Loan Documents, and to perform and observe all of the terms, covenants and provisions of each of the Loan Documents. "Officer's Certificate" shall mean a certificate delivered to Lender and signed by the President or a Vice

Examples of Negative Covenant in a sentence

As long as this Agreement is in effect, the Borrower shall not violate, and shall not suffer or permit any of its Subsidiaries to violate, any of the following covenants and any "Additional Negative Covenant" on the Schedule.
For the avoidance of doubt, any waiver by the Administrative Agent of the Borrowers’ compliance with any Negative Covenant set forth in Article 7, or consent by the Administrative Agent to the Borrowers’ non-compliance with any such Negative Covenant, shall require the prior written consent of the Required Lenders.
Furthermore, to the extent that any Restricted Payment is made other than during the Additional Negative Covenant Period, such Restricted Payment shall continue to be permitted hereunder and shall not count against the Annual Permitted Restricted Payment Basket during the Additional Negative Covenant Period.
For the avoidance of doubt, at any time that the Additional Negative Covenant Period is not in effect, the covenant contained in this Section 6.2.9 shall not be applicable to or binding upon Harley or any of its Subsidiaries, and any Default or Unmatured Default existing as of the expiration of an Additional Negative Covenant Period solely by virtue of noncompliance with this Section 6.2.9 shall automatically cease to exist.
Negative Covenant of the Equityholder and the Collateral Manager 79 Section 5.05.
For the avoidance of doubt, at any time that the Additional Negative Covenant Period is not in effect, the covenant contained in this Section 6.2.10 shall not be applicable to or binding upon Harley or any of its Subsidiaries, and any Default or Unmatured Default existing as of the expiration of an Additional Negative Covenant Period solely by virtue of noncompliance with this Section 6.2.10 shall automatically cease to exist.
Furthermore, to the extent that any investment, loan or advance is made other than during the Additional Negative Covenant Period, such investment, loan or advance shall continue to be permitted hereunder and shall not count against the limitation set forth in clause (r) above during the Additional Negative Covenant Period.
Eisai shall have the exclusive right in the Territory to invoice and book (x) during the Negative Covenant Period for each country in the Territory, all Product sales in such country and (y) during the Remainder Period for such country, all sales of Product sold under the Product Trademarks in such country.
Inventory stored in a location controlled by International Business Machines Corporation shall not be a violation of this Negative Covenant.
For the avoidance of doubt, the incurrence of any Incremental Facility pursuant to Sections 2.14 and 7.03(a) also constitutes a Specified Negative Covenant Transaction.

More Definitions of Negative Covenant

Negative Covenant. Without the Bank’s prior written consent, no material change in management is allowed.

Negative Covenant means a promise or covenant by any Person not to act, perform, suffer, permit or consent to.