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Prohibition on Sale of Receivables Covenant Sample

Description: General business covenants place restrictions on corporate structure and business activities of an obligor. This sample clause prevents a company from selling notes or accounts receivable except for fair value and without recourse.
Form Type: Contract Clauses
Practice Area: Corporate & Securities

Date: Nov 2014
PLI Item #: 129147
Keywords: "prohibition on sale of receivables"; "accounts receivable"; "discount of receivables"; "asset sales"; subsidiaries; "board of directors"; "credit agreement"; "corporate finance"; "general business covenant"
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