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Credit Agreement Debt Covenant Sample Clause 3
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.
This is a simple sample clause that places a specific cap on the amount of debt a borrower may occur.
PLI Item #:
Corporate & Securities
"interest rate protection agreement"
"priority debt covenant"
"sale and leaseback"
"consolidated net tangible assets"
"principal manufacturing facility"
"pari passu indenture"
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