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Investment Grade Indenture Negative Pledge Sample Clause

Book Publication Date: Nov 2014
Description: 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 deal with negative pledges related to an investment grade indenture.
Type: Contract Clauses
PLI Item #: 128575
Practice Area: Banking and finance, Corporate finance

Keywords: "priority debt covenant"; "attributable debt"; "exempted debt"; "funded debt"; "principal property"; "restricted subsidiary"; "negative pledge"; "sale and leaseback"; issuer; borrower; lender; "consolidated net tangible assets"; "indenture"; "principal manufacturing facility"; mortgage

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