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Fundamental Changes and Asset Sales Covenants Sample

Book Publication Date: Nov 2014
Description: General business covenants place restrictions on corporate structure and business activities of an obligor. These sample clauses prevent the borrower or its subsidiaries from entering into any transaction that would cause a fundamental change to its corporate structure.
Type: Contract Clauses
PLI Item #: 128707
Practice Area: Banking and finance, Corporate finance

Keywords: "fundamental changes"; "credit agreement"; merger; "asset sale"; covenant; "negative pledge"; consolidation; borrower; subsidiaries; "general business covenants"

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