Negative Covenants Clause Example with 4 Variations from Business Contracts
This page contains Negative Covenants clauses in business contracts and legal agreements. An example clause is provided at the top of the page, followed by clauses with minor variations. You can view the text differences by selecting the "Show Differences" option.
Negative Covenants. Until all amounts outstanding under this Note have been paid in full, the Borrower shall not: 8.1Indebtedness. Incur, create or assume any Debt, other than Permitted Debt. 8.2Liens. Incur, create, assume or suffer to exist any Lien on any of its property or assets, whether now owned or hereinafter acquired except for (a) Liens for taxes not yet due or which are being contested in good faith by appropriate proceedings; and (b) non-consensual Liens arising by operation of law, arising in the ordin...ary course of business, and for amounts which are not overdue for a period of more than 30 days or that are being contested in good faith by appropriate proceedings; and (c) Liens created pursuant to the Security Agreement. 8.3Line of Business. Enter into any business, directly or indirectly, except for those businesses in which the Borrower is engaged on the date of this Note or that are reasonably related thereto. 8.4Compliance with Anti-Terrorism Regulations. (a)(i) Violate any Anti-Terrorism Laws (ii) engage in any transaction, investment, undertaking or activity that conceals the identity, source or destination of the proceeds from any category of prohibited offenses designated by the Organization for Economic Co-operation and Development's Financial Action Task Force on Money Laundering or (iii) permit any of its Affiliates to violate these laws or engage in these actions. (b) (i) Use, directly or indirectly, the proceeds of the Loans, or lend, contribute or otherwise make available such proceeds to any subsidiary, joint venture partner or other Person, (x) to fund any activities or business of or with any Person, or in any country or territory, that, is, or whose government is, the subject of Sanctions at the time of such funding, or (y) in any other manner that would result in a violation of Sanctions by any Person (including any Person participating in the Loans, whether as underwriter, advisor, investor, or otherwise). (d) (i) Deal in, or otherwise engage in any transaction related to, any property or interests in property blocked pursuant to any Anti-Terrorism Law, (ii) engage in or conspire to engage in any transaction that evades or avoids, or has the purpose of evading or avoiding, or attempt to violate, any of the prohibitions set forth in any Anti-Terrorism Law or (iii) permit any of its Affiliates to do any of the foregoing.View More
Variations of a "Negative Covenants" Clause from Business Contracts
Negative Covenants. Until all amounts outstanding under this Note have been paid in full, in addition to the other covenants set forth above, the Borrower shall not: 8.1Indebtedness. 8.1 Indebtedness. Incur, create or assume any Debt, other than Permitted Debt. 8.2Liens. 8.2 Liens. Incur, create, assume or suffer to exist any Lien on any of its property or assets, whether now owned or hereinafter acquired except for (a) Liens for taxes not yet due or which are being contested in good faith by appropriate proceeding...s; and (b) non-consensual Liens arising by operation of law, arising in the ordinary course of business, and for amounts which are not overdue for a period of more than 30 days or that are being contested in good faith by appropriate proceedings; and (c) Liens created pursuant to the Security Agreement. 8.3Line 8.3 Compliance With Certain Regulations (a) Engage in, or knowingly permit any of Business. Enter into any business, directly or indirectly, except for those businesses in which the Borrower is engaged on the date of this Note or that are reasonably related thereto. 8.4Compliance with Anti-Terrorism Regulations. (a)(i) Violate any Anti-Terrorism Laws (ii) its Affiliates to engage in in, any transaction, investment, undertaking or activity that conceals the identity, source or destination of the proceeds from any category of prohibited offenses designated by the Organization for Economic Co-operation and Development's Financial Action Task Force on Money Laundering or (iii) permit any of its Affiliates to violate these laws or engage in these actions. Laundering. (b) (i) Use, directly or indirectly, the proceeds of the Loans, or lend, contribute or otherwise make available such proceeds to any subsidiary, joint venture partner or other Person, (x) to fund any activities or business of or with any Person, or in any country or territory, that, is, or whose government is, the subject of Sanctions at the time of such funding, or (y) in any other manner that would result in a violation of Sanctions by any Person (including any Person participating in the Loans, whether as underwriter, advisor, investor, or otherwise). (d) (i) Deal in, or otherwise engage in any transaction related to, any property or interests in property blocked pursuant to any Anti-Terrorism Law, (ii) engage in or conspire to engage in any transaction that evades or avoids, or has the purpose of evading or avoiding, or attempt to violate, any of the prohibitions set forth in any Anti-Terrorism Law or (iii) permit any of its Affiliates to do any of the foregoing.View More
Negative Covenants. Until all amounts outstanding under this Note have been paid in full, the Borrower shall not: 8.1Indebtedness. 8.1 Indebtedness. Incur, create or assume any Debt, other than Permitted Debt. 8.2Liens. Incur, create, assume or suffer to exist any Lien on any of its property or assets, whether now owned or hereinafter acquired except for 8.2 Compliance With Anti-Terrorism Regulations (a) Liens for taxes not yet due or which are being contested in good faith by appropriate proceedings; and (b) non-c...onsensual Liens arising by operation of law, arising in the ordinary course of business, and for amounts which are not overdue for a period of more than 30 days or that are being contested in good faith by appropriate proceedings; and (c) Liens created pursuant to the Security Agreement. 8.3Line of Business. Enter into any business, directly or indirectly, except for those businesses in which the Borrower is engaged on the date of this Note or that are reasonably related thereto. 8.4Compliance with Anti-Terrorism Regulations. (a)(i) (i) Violate any Anti-Terrorism Laws Laws, (ii) engage in any transaction, investment, undertaking or activity that conceals the identity, source or destination of the proceeds from any category of prohibited offenses designated by the Organization for Economic Co-operation and Development's Financial Action Task Force on Money Laundering or (iii) knowingly permit any of its Affiliates to violate these laws or engage in these actions. (b) (i) Use, directly or indirectly, the proceeds of the Loans, or lend, contribute or otherwise make available such proceeds to any subsidiary, joint venture partner or other Person, (x) to fund any activities or business of or with any Person, or in any country or territory, that, is, or whose government is, the subject of Sanctions at the time of such funding, or (y) in any other manner that would result in a violation of Sanctions by any Person (including any Person participating in the Loans, whether as underwriter, advisor, investor, or otherwise). (d) (c) (i) Deal in, or otherwise engage in any transaction related to, any property or interests in property blocked pursuant to any Anti-Terrorism Law, (ii) engage in or conspire to engage in any transaction that evades or avoids, or has the purpose of evading or avoiding, or attempt to violate, any of the prohibitions set forth in any Anti-Terrorism Law or (iii) knowingly permit any of its Affiliates to do any of the foregoing. View More
Negative Covenants. Until all amounts outstanding under this Note Agreement have been paid in full, the Borrower Company shall not: 8.1Indebtedness. 11.1 Indebtedness. Incur, create or assume any Debt, other than Permitted Debt. 8.2Liens. 11.2 Liens. Incur, create, assume or suffer to exist any Lien on any of its property or assets, whether now owned or hereinafter acquired except for (a) Liens for taxes not yet due or which are being contested in good faith by appropriate proceedings; proceedings and (b) non-conse...nsual Liens arising by operation of law, arising in the ordinary course of business, and for amounts which are not overdue for a period of more than 30 60 days or that are being contested in good faith by appropriate proceedings; and (c) Liens created pursuant proceedings. 11.3 Merger, etc. Merge or consolidate with any other Person, or sell, lease or otherwise dispose of all or any substantial part of its property or assets to the Security Agreement. 8.3Line any other Person. 11.4 Line of Business. Enter into any business, directly or indirectly, except for those businesses in which the Borrower Company is engaged on the date of this Note Agreement or that are reasonably related thereto. 8.4Compliance with 11.5 Compliance With Anti-Terrorism Regulations. (a)(i) (a) (i) Violate any Anti-Terrorism Laws or (ii) engage in any transaction, investment, undertaking or activity that conceals the identity, source or destination of the proceeds from any category of prohibited offenses designated by the Organization for Economic Co-operation and Development's Financial Action Task Force on Money Laundering or (iii) permit any of its Affiliates to violate these laws or engage in these actions. 11 (b) (i) Use, directly or indirectly, the proceeds of the Loans, Advances, or lend, contribute or otherwise make available such proceeds to any subsidiary, joint venture partner or other Person, (x) to fund any activities or business of or with any Person, or in any country or territory, that, is, or whose government is, the subject of Sanctions at the time of such funding, or (y) in any other manner that would result in a violation of Sanctions by any Person (including any Person participating in the Loans, Loan, whether as underwriter, advisor, investor, or otherwise). (d) (c) (i) Deal in, or otherwise engage in any transaction related to, any property or interests in property blocked pursuant to any Anti-Terrorism Law, (ii) engage in or conspire to engage in any transaction that evades or avoids, or has the purpose of evading or avoiding, or attempt to violate, any of the prohibitions set forth in any Anti-Terrorism Law or (iii) permit any of its Affiliates to do any of the foregoing. View More
Negative Covenants. Until all amounts outstanding under this Note Agreement have been paid in full, the Borrower Company shall not: 8.1Indebtedness. 11.1 Indebtedness. Incur, create or assume any Debt, other than Permitted Debt. 8.2Liens. 11.2 Liens. Incur, create, assume or suffer to exist any Lien on any of its property or assets, whether now owned or hereinafter acquired except for (a) Liens for taxes not yet due or which are being contested in good faith by appropriate proceedings; proceedings and (b) non-conse...nsual Liens arising by operation of law, arising in the ordinary course of business, and for amounts which are not overdue for a period of more than 30 60 days or that are being contested in good faith by appropriate proceedings; and (c) Liens created pursuant proceedings. 12 11.3 Merger, etc. Merge or consolidate with any other Person, or sell, lease, dissolve, liquidate or otherwise dispose of all or any substantial part of its property or assets to the Security Agreement. 8.3Line any other Person. 11.4 Line of Business. Enter into any business, directly or indirectly, except for those businesses in which the Borrower Company is engaged on the date of this Note Agreement or that are reasonably related thereto. 8.4Compliance with 11.5 Compliance With Anti-Terrorism Regulations. (a)(i) (a) (i) Violate any Anti-Terrorism Laws or (ii) engage in any transaction, investment, undertaking or activity that conceals the identity, source or destination of the proceeds from any category of prohibited offenses designated by the Organization for Economic Co-operation and Development's Financial Action Task Force on Money Laundering or (iii) permit any of its Affiliates to violate these laws or engage in these actions. (b) (i) Use, directly or indirectly, the proceeds of the Loans, Advances, or lend, contribute or otherwise make available such proceeds to any subsidiary, joint venture partner or other Person, (x) to fund any activities or business of or with any Person, or in any country or territory, that, is, or whose government is, the subject of Sanctions at the time of such funding, or (y) in any other manner that would result in a violation of Sanctions by any Person (including any Person participating in the Loans, Loan, whether as underwriter, advisor, investor, or otherwise). (d) (c) (i) Deal in, or otherwise engage in any transaction related to, any property or interests in property blocked pursuant to any Anti-Terrorism Law, (ii) engage in or conspire to engage in any transaction that evades or avoids, or has the purpose of evading or avoiding, or attempt to violate, any of the prohibitions set forth in any Anti-Terrorism Law or (iii) permit any of its Affiliates to do any of the foregoing. View More
