Negative Pledge

Negative Pledge. Negative Pledge. Without the approval of all Lenders, neither Borrower will create or suffer to exist or permit any Subsidiary to create or suffer to exist any mortgage, pledge, security interest, conditional sale or other title retention agreement, charge, encumbrance or other Lien (whether such interest is based on common law, statute, other law or contract) upon the Collateral, except for the security interests granted to the Administrative Agent for the benefit of the Lenders under the Loan... Documents. View More