The LSTA's Complete Credit Agreement Guide by Richard Gray & Richard Wight & Warren Cooke

Author:Richard Gray & Richard Wight & Warren Cooke [Gray, Richard]
Language: eng
Format: mobi
Publisher: McGraw-Hill Education
Published: 2009-03-29T16:00:00+00:00

7.5.4 Miscellaneous “Who-Can-Object” Covenants

A number of affirmative covenants in effect require the borrower to do nothing more than any right-minded borrower would do in the first place. They are like strawberries and fresh air (who could possibly object to their presence in a credit agreement?) and are inserted to guard against those situations in which a borrower is so abjectly sloppy or incompetent that it fails to run its business in the manner customarily expected of any good management team. The following are some examples.

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