Covenants and Undertakings of Borrower Sample Clauses

Covenants and Undertakings of Borrower. 4.1 The Borrower, as one of the major shareholders of the Borrower Company, hereby undertake to procure with all efforts the Borrower Company to observe the following terms during the term of this Agreement: (a) It shall not supplement, amend or modify in any way its Article of Association, or increase or decrease its registered capital, or reform in any way the shareholding structure without the prior written consent of the Lender; (b) It shall maintain the company’s effective existing and deal with and operate its business duly and diligently in accordance with the good financial and commercial codes and practices; (c) It shall not sell, assign, transfer, pledge or dispose in any way any legitimate rights or benefit interests in connection with its asset, business or income, or create any other security interest over the same without the prior written consent of the Lender after execution of this Agreement; (d) It shall not conduct, inherit, guarantee or bear any debt without the prior written consent of the Lender, except that (i) the debts are incurred in the normal or daily business other than through a loan; (ii) the debts have been disclosed to the Lender or a with a written consent of the Lender; (e) It shall operate all of its businesses in the ordinary course of business to maintain its asset value; (f) It shall not enter into any material agreements or contracts without the prior written consent of the Lender, except those entered into in the ordinary course of business (for the purpose of this paragraph, any Agreement with a value exceeding RMB100,000 shall be deemed as a material Agreement); (g) It shall not provide any loan or credit for any party without the prior written consent of the Lender; (h) It shall provide the Lender with the information in connection with its finance or business as required; (i) It shall purchase and hold insurance policies from the insurance company accepted by the Lender. The insured amount and category shall be equal to or in the same level as those of the companies with the similar business, assets and properties in the same district; (j) It shall not acquire, invest in, merge or consolidate with any party without the prior written consent of the Lender; (k) It shall notify the Lender immediately when any legal action, arbitration or administrative proceedings relating to its assets, operations and incomes occurs or is likely to occur; (l) For the purpose of maintaining property rights to all of its assets, it ...
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Covenants and Undertakings of Borrower. The Borrower, as a shareholder of Xxxxxxxx’s Company, hereby irrevocably covenants that, during the term of this Agreement, shall cause Borrower’s Company comply with the following terms:
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Related to Covenants and Undertakings of Borrower

  • COVENANTS OF BORROWER Borrower agrees as follows:

  • Covenants of the Borrower SECTION 5.01.

  • Representations of Borrower The Borrower represents and warrants that (i) the representations and warranties of the Borrower set forth in Article 4 of the Credit Agreement will be true on and as of the Amendment Effective Date and (ii) no Default will have occurred and be continuing on such date.

  • Covenants of the Borrowers The Borrowers covenant and agree with the Lenders and the Administrative Agent that, so long as any Commitment, Loan or Letter of Credit Liability is outstanding and until payment in full of all amounts payable by the Borrowers hereunder:

  • NEGATIVE COVENANTS OF BORROWER Until the Loan Obligations have been paid in full, Borrower shall not: