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Line of Business Covenant Sample 6

Book Publication Date: Nov 2014
Description: General business covenants place restrictions on corporate structure and business activities of an obligor. This sample clause from a merger agreement restricts the target and its subsidiaries from engaging in any new line of business after the closing date.
Type: Contract Clauses
PLI Item #: 128946
Practice Area: Banking and finance, Corporate finance

Keywords: "line of business"; borrower; subsidiaries; "related business"; "credit agreement"; "general business covenant"; "corporate finance"; lender; "initial borrowing date"; "change of business"; target; merger; "tender offer"; "closing date"; "surviving corporation"

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