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Priority Debt Covenant Sample Clauses

Description: Debt and lien covenants, or negative pledges, are key to making sure a lender has priority and that the borrower does not take on more debt than they can repay. The sample clauses included here cover various types of restrictions on the borrower and its subsidiaries that a lender may want to impose.
Form Type: Clauses
Practice Area: Corporate & Securities

Date: Nov 2014
PLI Item #: 128572
Keywords: "priority debt covenant"; "attributable debt"; "exempted debt"; "funded debt"; "principal property"; "restricted subsidiary"; "negative pledge"; "sale and leaseback"; issuer; borrower; lender; "consolidated net tangible assets"; "indenture"
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