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Credit Agreement Lease Covenant Sample 2


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 where the rental payments would eceeed specified dollar amounts.
Type: Contract Clauses
PLI Item #: 129125
Practice Area: Corporate & Securities
Keywords: "credit agreement"; "lease"; "rental payment"; borrower; "restricted subsidiary"; "consolidated subsidiary"; guarantee; "FASB"; "Financial Accounting Standards Board"; "foreign subsidiary"; "capital lease"; "operating lease"

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