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High-Yield Indenture Asset Sales Covenant and Merger Provisions

Book Publication Date: Nov 2014
Description: General business covenants place restrictions on corporate structure and business activities of an obligor. These detailed sample clauses limit a borrower's ability to enter into merger or asset sales agreements.
Type: Contract Clauses
PLI Item #: 128734
Practice Area: Banking and finance, Corporate finance

Keywords: "guarantee"; "interest rate protection agreement"; "leverage ratio"; "debt covenant"; "credit agreement"; "permitted lien"; lien; "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"; "high-yield indenture"; "principal manufacturing facility"; mortgage; "subordinated debt"; "pari passu indenture"; "credit agreement"; merger; "asset sale"; covenant; "negative pledge"; consolidation; borrower; subsidiaries; "general business covenants"

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