Cross default, pari passu, negative pledge
(borne by the contracting authority as a liability.
The agreement includes standard terms and obligations and also generally includes the negative pledge
, limitations on distributions, financial covenants and event of defaults applicable to the Company's series F through I debentures, with certain modifications, including foreclosure, materialization of a pledge, execution actions, receivership and (subject to certain exclusions) sale of assets, in a specified certain lower amount, a failure to operate in a field which is material to the Company's operations and mergers and changes of formation (with more limited exclusions) will trigger an event of default.
In addition, Al-'Aqar Capital and the REIT have a negative pledge
on dealing with the securitised assets.
Our request for a negative pledge
on Ibrox to prevent it being used by anyone else as security was not accepted.
The terms and conditions of the documentation include a change of control clause, a negative pledge
clause and a cross default provision.
The bond includes a negative pledge
provision binding Arcelik, as well as financial reporting obligations, a restriction on certain corporate reorganisations, and a covenant limiting transactions with affiliates that do not comply with an arms-length principle.
Among other standard conditions, the trust certificates benefit from a negative pledge
, a change of control, and a cross-default provision.
The Bonds will be senior and unsecured obligations of the Company and will be subject to a negative pledge
The arrangement is subject to a negative pledge
, by which DCD is not entitled to create any encumbrances such as a mortgage on the security assets without getting the prior consent of the bank.
The terms and conditions of the bond's documentation, which are applicable under English law, include a negative pledge
clause and a cross default and cross acceleration provision.
Among other aspects, the Sukuk benefits from a negative pledge
and a cross default clause.
Shorris said, "Today's plan fits with a model of aggressive environmental actions the Port Authority has developed over the last year, from its carbon negative pledge
at Stewart International Airport to its Green Pass program for its bridge and tunnel customers.