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Control of Cash Covenant Sample

Book Publication Date: Nov 2014
Description: General business covenants place restrictions on corporate structure and business activities of an obligor. These sample clauses restrict a borrower's right to open bank accounts and maintain cash reserves.
Type: Contract Clauses
PLI Item #: 129502
Practice Area: Banking and finance, Corporate agreements, Corporate contracts, Corporate finance, Corporate law, Deal structuring, Mergers and acquisitions

Keywords: "control of cash"; covenant; "excess cash"; "additional bank accounts"; borrower; subsidiary; agent; "credit agreement"; indenture; "restricted subsidiary

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