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Priority Debt Covenant Sample Clauses
Drafting for Corporate Finance: Concepts, Deals, and Documents (Second Edition)
Book Publication Date:
Debt and lien covenants, or negative pledges, are key to making sure a lender has priority and that the borrower does not take on more debt than they can repay.
The sample clauses included here cover various types of restrictions on the borrower and its subsidiaries that a lender may want to impose.
PLI Item #:
Corporate & Securities
"priority debt covenant"
"sale and leaseback"
"consolidated net tangible assets"
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