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Credit Agreement Merger and Asset Sale Covenant Sample 3

Book Publication Date: Nov 2014
Description: General business covenants place restrictions on corporate structure and business activities of an obligor. This sample clause prevents a borrower from entering into a merger, consolidation or sale of assets except under very limited circumstances.
Type: Contract Clauses
PLI Item #: 128706
Practice Area: Corporate & Securities
Keywords: "credit agreement"; merger; "asset sale"; covenant; "negative pledge"; consolidation; borrower; subsidiaries; "general business covenants"

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