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Covenant Default
Covenant Default contract clause examples
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Restrictive Covenant. In consideration of the Award that the Company has granted to Participant in this Agreement, Participant agrees not to engage in Prohibited Activity during Participant’s employment with the Company Group and for a period of [CEO: 24][EVP:18][SVPs: 12][all others: six] months after Participant’s Termination of employment with the Company Group (the “Restricted Period”). If the Participant engages in a Prohibited Activity during the Restricted Period, the Company or its appropriate Subsidiaries may seek an injunction from a court of competent jurisdiction to prevent Participant from engaging in the Prohibited Activity during the Restricted Period without the necessity of posting bond or other security to obtain the injunction. Both the Company and the Participant agree that monetary damages alone are an insufficient remedy for breach of the foregoing covenant. The Company or its appropriate Subsidiaries may seek monetary damages in addition to an injunction, and the covenant in favor of the Company Group in this Agreement is in addition to, and not in lieu of, any similar covenants that Participant may have entered into in favor of any member of the Company Group in any employment or other agreement. To the extent that a court of competent jurisdiction rules that the restrictions in the foregoing covenant are too broad, these restrictions shall be interpreted and construed in the broadest possible manner to provide the Company Group the broadest possible protection, including (without limitation) with respect to geographic coverage, activities of the Company Group’s businesses and time of applicability of the restrictions.

Negative Covenant. From the date of its appointment until the Facility Termination Date, the Backup Servicer will not make any changes to the Backup Servicing Fee without the prior written approval of the Administrative Agent (acting at the direction of the Required Lenders) and, so long as no Event of Default or Servicer Termination Event has occurred, the Borrower.

In support of the Executive’s commitment to maintain the confidentiality of the Company’s Confidential Information, # during the Executive’s employment with the

During the course of employment, the Executive agrees to promptly disclose in confidence to the Company all inventions, improvements, designs, original works of

Compliance Covenant. The Company will not become a party to any Common Shares Change Event unless its terms are consistent with this [Section 8(J)].

Financial Covenant. Borrowers shall, at all times, maintain Liquidity in an amount not less than the greater of # ​ (​) or # Monthly Burn multiplied by # ​ (​) if Borrower has not drawn a Tranche B Term Loan, or # ​ (​) if Borrower has drawn a Tranche B Term Loan.

ECI Covenant. The Company shall hold no assets other than the shares of stock of Chinos and J.Crew, ownership interests in BD Holdco, cash and any other assets incidental thereto. Notwithstanding anything in this Agreement [[Organization B:Organization]] contrary, the Company shall avoid taking any action that could cause the Company to be engaged in a trade or business in the United States within the meaning of Code [Section 864] and the Regulations promulgated thereunder. In addition, the Company will not, directly or indirectly, purchase, acquire or otherwise be treated as the owner of a Prohibited Asset.

Noncompetition Covenant. During the Term of this Agreement, Executive will not, directly or indirectly, whether as owner, partner, shareholder, consultant, agent, employee, co-venturer, lender or creditor or otherwise, engage, participate, assist, support or invest in any Competing Business.

SPE Covenant. The Seller shall not take any action that would cause a violation of [Section 7.4] of the Indenture by the Purchaser.

Confidentiality Covenant. During Employee's employment with the Company and following the termination of Employee' s employment:

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