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GWW » Topics » NEGATIVE COVENANTS

This excerpt taken from the GWW 10-Q filed May 8, 2008.

NEGATIVE COVENANTS

So long as any Loan or other Obligation shall remain unpaid or unsatisfied, unless the Required Lenders waive compliance in writing:

Section 7.1      Limitation on Liens. The Borrower will not, and will not permit any Subsidiary to, create, assume, incur or suffer to exist any Lien upon or with respect to any property or assets, whether now owned or hereafter acquired; except

(a)       Liens in respect of property of the Borrower or a Subsidiary existing on the Closing Date and described in Schedule 7.1, but no extension, renewal or replacement of any such Lien except as permitted by

"NEGATIVE COVENANTS" elsewhere:

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