Accommodation Obligations Clause Samples
Accommodation Obligations. No Borrower shall or shall permit any of its Subsidiaries to directly or indirectly create or become or be liable with respect to any Accommodation Obligation, except:
(a) recourse obligations resulting from endorsement of negotiable instruments for collection in the ordinary course of its business;
(i) Permitted Existing Accommodation Obligations and any extensions, renewals or replacements thereof, provided that the aggregate Indebtedness under any such extension, renewal or replacement is not greater than the Indebtedness under, and shall be on terms no less favorable to the Borrowers or such Subsidiary than the terms of, the Permitted Existing Accommodation Obligation so extended, renewed or replaced; and (ii) Accommodation Obligations evidenced by Financing Agreements of the type described in clause (c) of the definition thereof, and any renewal, amendment, restatement or replacement thereof permitted by the definition thereof;
(c) Accommodation Obligations (i) arising under the Loan Documents, (ii) with respect to the Indebtedness permitted under Sections 9.01(d) so long as such Accommodation Obligations are unsecured and the remedies thereunder only arise after a default has occurred or is continuing under such related Indebtedness or (iii) otherwise in respect of the Indebtedness permitted under Section 9.01(a), (h), (i) or (q);
(d) [Intentionally Omitted];
(e) Accommodation Obligations of the Credit Parties with respect to Lift Truck Financing Guarantees;
(f) Accommodation Obligations (i) of Credit Parties with respect to Indebtedness of Credit Parties; (ii) of Borrower Subsidiaries not constituting Credit Parties with respect to Indebtedness of Credit Parties or Pledged Entities; (iii) of Pledged Entities with respect to Indebtedness of Pledged Entities; (iv) of Borrower Subsidiaries not constituting Credit Parties with respect to Indebtedness of Borrower Subsidiaries not constituting Credit Parties; and (v) of Credit Parties with respect to Indebtedness of Borrower Subsidiaries not constituting Credit Parties in an aggregate amount, together with Indebtedness permitted pursuant to Section 9.01(g)(v) and Investments permitted pursuant to Sections 9.04(e)(v) but without duplication, not to exceed $60,500,000;
(g) Parent Subordinated Indebtedness;
(h) Accommodation Obligations of the Borrower or any Subsidiary thereof in respect of Permitted Term B Loans; and
(i) in addition to the Accommodation Obligations permitted by clauses (a) through (h) abov...
Accommodation Obligations. None of Holdings, the Company or any of the Company's Subsidiaries shall directly or indirectly create or become or be liable with respect to any Accommodation Obligation, except:
(a) Permitted Existing Accommodation Obligations;
(b) Accommodation Obligations arising under the Loan Documents;
(c) obligations, warranties and indemnities which have been or are undertaken or made in the ordinary course of business, in connection with the Transaction Documents or in connection with any sale of assets permitted under Section 9.02;
(A) Accommodation Obligations of any Subsidiary of Holdings in respect of obligations of a Borrower or a Subsidiary Guarantor and (B) Accommodation Obligations of any Subsidiary of Holdings in respect of obligations of any other Subsidiary of Holdings (other than the Borrowers or the Subsidiary Guarantors) but only if the aggregate amount of such Accommodation Obligations does not exceed $17,500,000 at any time outstanding; and
(e) Accommodation Obligations of the Company and Finsub pursuant to the Permitted Receivables Transaction Documents; and
(f) Accommodation Obligations in respect of Indebtedness permitted under Section 9.01 or constituting a Lien permitted under Section 9.03 or an Investment permitted under Section 9.04.
Accommodation Obligations. No Borrower shall, and Anixter shall not permit any Subsidiary of Anixter to, directly or indirectly, create or become or be liable with respect to any Accommodation Obligation involving Indebtedness of AXE or any Affiliate of AXE which is not a Subsidiary of Anixter. In addition, no Borrower shall, and Anixter shall not permit any Subsidiary to, directly or indirectly, create or become or be liable with respect to any Accommodation Obligation except:
(a) guaranties resulting from endorsement of negotiable instruments for collection in the ordinary course of business;
(b) Accommodation Obligations arising in connection with the Transaction Documents;
(c) Accommodation Obligations by Anixter with respect to lessees’ obligations to third-party lessors under leases of Property purchased from Anixter and its Subsidiaries, in an aggregate amount not to exceed US$5,000,000;
(d) Accommodation Obligations of Anixter and its Subsidiaries arising in connection with Hedging Contracts entered into with any of the Lenders; and
(e) other Accommodation Obligations by Anixter and its Subsidiaries in an aggregate amount outstanding at any time not to exceed US$175,000,000; provided, however, that no such Accommodation Obligations shall be entered into or incurred after the occurrence and during the continuance of an Event of Default or Default.
Accommodation Obligations. The Loan Parties shall not, directly or indirectly, create or become or be liable with respect to any Accommodation Obligation, except (i) recourse obligations resulting from endorsement of negotiable instruments for collection in the ordinary course of business, (ii) the Farm Bureau Guaranty, (iii) lease obligations in connection with office space in New York, New York where Stellex and Mentmore Holding Corporation will be joint tenants, (iv) Accommodation Obligations by one Loan Party on behalf of another Loan Party (other than Paragon until the Farm Bureau Consent has been delivered to the Administrative Agent) but only in connection with Indebtedness permitted pursuant to Section 9.01(i), (ii), (iii) (iv), (v), (vi), (vii), (viii), (x) or (xi), and (v) Accommodation Obligations by one Loan Party that is the acquiror or the target in connection with a Permitted Acquisition on behalf of another Loan Party that is the acquiror or the target in connection with such Permitted Acquisition but only in connection with Indebtedness permitted pursuant to Section 9.01(xiii) or (xiv).
Accommodation Obligations. None of the Borrowers or any of the ------------------------- Restricted Subsidiaries shall directly or indirectly create or become or be liable with respect to any Accommodation Obligation, except:
(a) Permitted Existing Accommodation Obligations;
(b) Accommodation Obligations arising under the Transaction Documents;
(c) obligations, warranties and indemnities, not with respect to Indebtedness of any Person, which have been or are undertaken or made in the ordinary course of business and not for the benefit of or in favor of an Affiliate of the Borrowers or any of the Borrowers' Subsidiaries;
(d) Accommodation Obligations of (i) the Company in respect of any Subsidiary of the Company that is a Loan Party or of any such Loan Party in respect of the Company or any other such Loan Party or (ii) the Loan Parties in respect of any other Subsidiary of the Company that is not a Loan Party or of any Permitted Joint Venture, which Accommodation Obligations shall not cause (together with any Investments made pursuant to Section 9.04(d) and any Permitted Acquisitions made pursuant to clause --------------- (iii) of the definition thereof) the Maximum Subsidiary/Joint Venture Investment Amount to exceed $40,000,000 in the aggregate at any time; and
(e) Accommodation Obligations of any Subsidiary of such Borrower in respect of obligations of such Borrower.
Accommodation Obligations. Borrower shall not, and shall not permit any of its Subsidiaries to, directly or indirectly, create or become or be liable with respect to any Accommodation Obligation, except:
(i) guaranties resulting from endorsement of negotiable instruments for collection in the ordinary course of business;
(ii) Accommodation Obligations arising in connection with the Transaction Documents;
(iii) Accommodation Obligations of the Borrower pursuant to the GAQSC Guaranty;
(iv) Accommodation Obligations with respect to any Indebtedness permitted by Section 7.01; and
(v) Accommodation Obligations with respect to any Contractual Obligation of the Borrower or any Subsidiary (other than GAQSC, except as permitted by clause (iii) above) if such Contractual Obligation is not otherwise prohibited under this Agreement.
Accommodation Obligations. None of the Company or any of the Subsidiaries shall directly or indirectly create or become or be liable with respect to any Accommodation Obligation, except:
Accommodation Obligations. The Borrower shall not, and shall not permit ATSC or any Restricted Subsidiary to, create or become or be liable, directly or indirectly, with respect to any Accommodation Obligation except:
(a) guaranties resulting from endorsement of negotiable instruments for collection in the ordinary course of business;
(b) obligations, warranties and indemnities, not relating to Indebtedness of any Person, which have been or are undertaken or made in the ordinary course of business and not for the benefit or in favor of an Affiliate of the Borrower or such Subsidiary;
(c) obligations in respect of any Receivables Transaction;
(d) guaranties of obligations of the Borrower or Subsidiaries of the Borrower in connection with the Distribution Center Financing or the leasing or financing of materials handling equipment, computer equipment, furniture and fixtures in the ordinary course of business;
(e) Accommodation Obligations arising in connection with the Borrower's agreement to provide the CAT Joint Venture with one or more Letters of Credit issued for the benefit of the CAT Joint Venture pursuant to the CAT Joint Venture Agreement to the extent permitted by Section 8.03(i) and similar arrangements for the benefit of other joint ventures; and
(f) with respect to ATSC, Accommodation Obligations arising in connection with the ATSC Guaranty or Accommodation Obligations for Indebtedness of the Borrower or its wholly-owned Restricted Subsidiaries permitted to be incurred under Section 8.01.
Accommodation Obligations. The Loan Parties and the Schein Parties shall not, directly or indirectly, create or become or be liable with respect to any Accommodation Obligation, except:
(i) recourse obligations resulting from endorsement of negotiable instruments for collection in the ordinary course of business;
(ii) the Guaranties, guaranties of the Senior Notes and guaranties by Schein of the Floating Rate Notes during the period from the Closing Date until the Schein Payment Date;
(iii) Accommodation Obligations in respect of obligations of customers and suppliers in an aggregate amount not to exceed Fifty Million Dollars ($50,000,000) at any time;
(iv) Accommodation Obligations in Strategic Partners, provided that the aggregate amount of all such Accommodation Obligations made, created or assumed under this clause (iv), when added to the aggregate amount of all Investments made or owned pursuant to Section 9.04(vii), does not exceed 20% of Net Worth; and
(v) Accommodation Obligations in the ordinary course of business with respect to the loans of officers, directors and employees of a Loan Party or a Schein Party in an aggregate amount, when added to the loans and advances in Section 9.04(x), does not exceed Fifteen Million Dollars ($15,000,000) at any time.
Accommodation Obligations. Directly or indirectly create or become or be liable, or permit any of its Subsidiaries to directly or indirectly create or become or be liable, with respect to any Accommodation Obligations except:
(i) guaranties by the Company of lease and other obligations relating to contract performance of its Subsidiaries in the ordinary course of business, including, without limitation, business continuity agreements;
(ii) guaranties by the Company which are limited in amount to a stated maximum dollar exposure;
(iii) the guaranty by the Company of obligations of its Subsidiaries under the MOF; and
(iv) the guaranty by the Company of euro commercial paper issued by Comdisco Finance Nederland B.V. or any other Subsidiary of the Company pursuant to the MOF.