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Prohibition on Sale of Receivables Covenant Sample

Book Publication Date: Nov 2014
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.
Type: Contract Clauses
PLI Item #: 129147
Practice Area: Banking and finance, Corporate finance

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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