Certain Business Conduct Sample Clauses

Certain Business Conduct. (a) The Seller shall at all times maintain or cause to be maintained the following procedures to avoid or minimize any risk of substantive consolidation of the assets and liabilities of the Seller and its Affiliates or any other Person: (i) maintenance of books of account and records, bank accounts and assets separate from those of any Person; (ii) filing or causing to be filed tax returns separate from those of its Affiliates (except to the extent required or permitted by applicable law, rule or regulation to be included in a consolidated or unitary group, as appropriate); (iii) except as required or specifically provided in this Agreement, conducting business with Affiliates of the Owner Trustee on an arm’s-length basis; (iv) observance of trust (or similar organizational) formalities; (v) holding the Seller out to the public as a legal entity separate and distinct from any of the Owner Trustee’s Affiliates and from AFS Funding Corp. or any Affiliate thereof; and (vi) paying from its assets all obligations and indebtedness of any kind incurred by the Seller. The Seller shall act solely in its own name through the Owner Trustee, any co-trustee (in accordance with the terms and conditions of Section 9.5 of the Trust Agreement) or the Administrator (in accordance with the terms of the Administration Agreement) or other agents in the conduct of its businesses in accordance with this Agreement except to the extent required by the laws of any applicable jurisdiction.
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Certain Business Conduct. (a) The Trust shall not, except as provided in this Agreement, (i) make or permit to remain outstanding any loan or advance by the Trust to any Person (except for certain adjustments to reflect cash and accrual accounting); (ii) own or acquire any stock or securities of any Person or guarantee any obligation of any Person; or (iii) commingle its assets with the assets of the Company, the Depositor, any Certificateholder or any other Person. The Trust shall not pledge its assets for the benefit of any other entity, and shall not acquire subordinated debt obligations of any other person or entity.
Sample 1
Certain Business Conduct. (a) The Seller shall at all times maintain or cause to be maintained the following procedures to avoid or minimize any risk of substantive consolidation of the assets and liabilities of the Seller and its Affiliates or any other Person: (i) maintenance of books of account and records, bank accounts and assets separate from those of any Person; (ii) filing or
Sample 1
Certain Business Conduct. (a) The Trust shall not, except as provided in this Agreement or any other Underlying Transaction Documents as in effect as of the date hereof or in the future and solely with respect to obligations to trustees, collateral agents or FSA thereunder, (i) make or permit to remain outstanding any loan or advance by the Trust to any Person (except for certain adjustments to reflect cash and accrual accounting); or (ii) own or acquire any stock or securities of any Person or guarantee any obligation of any Person except, in each case, as expressly described in Section 2.06.
Sample 1

Related to Certain Business Conduct

  • Business Conduct Merger Sub was incorporated on November 5, 2020. Since its inception, Merger Sub has not engaged in any activity, other than such actions in connection with (a) its organization and (b) the preparation, negotiation and execution of this Agreement and the Transactions. Merger Sub has no operations, has not generated any revenues and has no assets or liabilities other than those incurred in connection with the foregoing and in association with the Merger as provided in this Agreement.

  • Business Conducted Borrower shall continue in the business currently conducted by it using its best efforts to maintain its customers and goodwill. Borrower shall not engage, directly or indirectly, in any line of business substantially different from the business conducted by it immediately before the Closing Date, or engage in business or lines of business which are not reasonably related thereto.

  • Code of Business Conduct The Company’s Code of Business Conduct, as amended from time to time.

  • Certain Business Matters No member of any Group shall have any duty to refrain from (i) engaging in the same or similar activities or lines of business as any member of any other Group, (ii) doing business with any potential or actual supplier or customer of any member of any other Group, or (iii) engaging in, or refraining from, any other activities whatsoever relating to any of the potential or actual suppliers or customers of any member of any other Group.

  • Code of Conduct Executive acknowledges that Executive has read the Company’s Code of Business Conduct and agrees to abide by such Code of Business Conduct, as amended or supplemented from time to time, and other policies applicable to employees and executives of the Company.

  • ETHICAL CONDUCT Employee will conduct himself in a professional and ethical manner at all times and will comply with all company policies as well as all State and Federal regulations and laws as they may apply to the services, products, and business of the Company.

  • Certain Changes and Conduct of Business (a) From and after the date of this Agreement and until the Closing (or the earlier termination of this Agreement), the Company shall, and the Members shall cause the Company to, conduct the Company's business solely in the ordinary course consistent with past practices. Without limiting the generality of the preceding sentence, except as required or permitted pursuant to the terms hereof, the Company shall not, and the Members shall cause the Company not to:

  • Detrimental Conduct At any time prior to the date that such Performance RSUs and related Dividend Equivalents vest in accordance with Section 7.1 or expire unvested or are cancelled pursuant to other provisions of the Award Agreement, Performance RSUs and related Dividend Equivalents, or specified portion thereof, will be forfeited by Grantee to PNC and cancelled, without payment of any consideration by PNC, on the date and to the extent that PNC determines in its sole discretion to so cancel all or a specified portion of the Performance RSUs and related Dividend Equivalents on the basis of its determination that Grantee has engaged in Detrimental Conduct as set forth in Section 13.13, whether such determination is made during the period of Xxxxxxx’s employment with the Corporation or after Grantee’s Termination Date; provided, however, that (i) no determination that Grantee has engaged in Detrimental Conduct may be made on or after the date of Grantee’s death (other than with respect to a Tranche, if any, that does not vest immediately upon death), and Detrimental Conduct will not apply to conduct by or activities of successors to the Performance RSUs and related Dividend Equivalents by will or the laws of descent and distribution in the event of Xxxxxxx’s death; (ii) in the event that Xxxxxxx’s termination of employment was a Qualifying Anticipatory Termination, no determination that Grantee has engaged in Detrimental Conduct may be made on or after Grantee’s Termination Date; (iii) no determination that Grantee has engaged in Detrimental Conduct may be made between the time PNC enters into an agreement providing for a Change of Control and the time such agreement either terminates or results in a Change of Control; and (iv) no determination that Grantee has engaged in Detrimental Conduct may be made after the occurrence of a Change of Control.

  • Certain Business Practices Neither Company nor any Company Subsidiary nor any directors, officers, agents or employees of Company or any Company Subsidiary (in their capacities as such) has (i) used any funds for unlawful contributions, gifts, entertainment or other unlawful expenses relating to political activity or (ii) made any unlawful payment to foreign or domestic government officials or employees or to foreign or domestic political parties or campaigns or violated any provision of the Foreign Corrupt Practices Act of 1977, as amended.

  • Limitation on Business Activities The Issuer will not, and will not permit any Restricted Subsidiary to, engage in any business other than a Permitted Business.

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