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No Negative Pledges 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 borrower and its subsidiaries from being subject to any negative pledge or restriction on the disposition of collateral.
Type: Contract Clauses
PLI Item #: 129503
Practice Area: Banking and finance, Corporate finance

Keywords: "negative pledges"; covenant; "credit agreement"; indenture; debt; borrower; subsidiary; lien; collateral; "capitalized lease"; lender; agent; "general business covenants"

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