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Credit Agreement Lease Covenant Sample 1

Book Publication Date: Nov 2014
Description: General business covenants place restrictions on corporate structure and business activities of an obligor. This sample lease covenant clause prevents the borrower or its subsidiaries from entering into any lease agreement for more than one year where rental payments will exceed $100,000.
Type: Contract Clauses
PLI Item #: 129121
Practice Area: Banking and finance, Corporate finance

Keywords: "credit agreement"; "lease"; "rental payment"; borrower; "restricted subsidiary"; "consolidated subsidiary"; guarantee; "FASB"; "Financial Accounting Standards Board"

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