The debenture terms and conditions include a negative pledge clause
. All of NNEG's debt will be senior unsecured after the debenture issuance.
of covenants, including a negative pledge clause
, limits on mergers,
For example, they would restrict the enforceability of covenants, such as a negative pledge clause
, to relatively sophisticated lenders who later make material investments and who would likely screen the debtor for other risk factors such as cash flow, credit record, and asset ownership.
The terms and conditions of the documentation include a change of control clause, a negative pledge clause
and a cross default provision.
Although the loan does not contain a negative pledge clause
, the loan seniority is viewed the same as that on Mitsubishi's issued senior unsecured bonds.
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.
The loan agreement contains a negative pledge clause
and certain other
The bonds feature a negative pledge clause
and a change of control put option.
The terms and conditions also include a negative pledge clause
, which is in line with the company's EMTN programme.
The use of exit consents worked well in Ecuador in 2000, where exiting bondholders agreed to remove cross-default and negative pledge clauses
. (3) Moreover, an exchange could be encouraged by a one-time financial enhancement from the official sector.