775 Positive Covenants Clause Examples for Any Agreement
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Positive Covenants.ÌýUntil a Public Offering, the Company, on behalf of itself and all of its subsidiaries, agrees as follows:
4.1 The Company shall maintain and preserve all of its properties necessary or useful in the proper conduct of its business in good working order and condition in accordance with the general practices of other corporations of similar size and character (ordinary wear and tear excepted).
4.2 The Company shall at all times comply in all material respects with the requirements of all applicable laws, rules, regulations and orders of any court or governmental department, commission, board, bureau, agency or other instrumentality (domestic or foreign) and the terms of any indenture, contract or other instrument to which it may be a party or under which it or its properties may be bound.
4.3 The Company will keep its assets and those of its subsidiaries insured by financially sound and reputable insurers against loss or damage by fire, extended coverage, explosion and other hazards, risks and liabilities to the extent and in the amount customary for companies in similar size and similar businesses.
4.4 The Company will keep true records and books of account in which full, true, and materially correct entries will be made of all dealings or transactions in relation to its business and affairs in accordance with GAAP applied on a consistent basis.
4.5 The Company shall maintain in full force and effect its corporate existence, rights, and franchises and all licenses and other rights to use patents, processes, licenses, trademarks, trade names, or copyrights owned or possessed by it or any subsidiary and deemed by the Company to be necessary to the conduct of its business.
4.6 The Company will retain independent public accountants of recognized standing who shall certify the Company's financial statements at the end of each fiscal year. In the event the services of the independent public accountants so selected, or any firm of independent public accountants hereafter employed by the Company are terminated, the Company will promptly thereafter notify the Investor and will request the firm of independent public accountants whose services are terminated to deliver to the Investor a letter from such firm setting forth the reasons for the termination of their services. In the event of such termination, the Company will promptly thereafter engage another firm of independent public accountants of recognized standing. In its notice to the Investor the Company shall sta...
Positive Covenants.Ìý23 Section 7.1
Positive Covenants.ÌýIn addition to all of your other obligations in this Agreement you will: (i) pay all amounts outstanding to the Bank when due or demanded, (ii) maintain your existence as a corporation, partnership or sole proprietorship, as the case may be, (iii) pay all taxes, and (iv) continue to carry on the business now being carried on by you. Negative Covenants. You will not: (i) merge or amalgamate with any other entity or permit any change of ownership or change your capital structure, or (ii) sell, lease, assign, or otherwise dispose of all or substantially all of your assets.
Positive Covenants.ÌýThe Borrower covenants and agrees that, as long as the Obligations or any part thereof are outstanding or any Bank has any Commitment hereunder, the Borrower will perform and observe the following positive covenants:
Positive Covenants.ÌýThe Borrower hereby covenants and agrees with the Agent and the Lenders that it will, and will cause each of its Subsidiaries to:
(a) Prompt Payment - in the case of the Borrower, pay all principal, interest and other amounts due hereunder at the times and in the manner specified herein;
Positive Covenants.ÌýParent and Borrower each covenant and agree that, as long as the Obligations or any part thereof are outstanding or any Bank has any Revolving Commitment hereunder, Parent and Borrower will perform and observe the following positive covenants:
Positive Covenants.ÌýThe Borrower covenants and agrees that:
Positive Covenants.ÌýThe Current Issuer covenants and undertakes with the Note Trustee for the benefit of the Current Issuer Secured Creditors that it shall:
Positive Covenants.ÌýDuring the term of this Agreement, each Obligor (unless otherwise specifically provided) shall perform the covenants specified in this Section 8.2.
Positive Covenants.ÌýThe Borrower shall: