Common use of Common Enterprise Clause in Contracts

Common Enterprise. The successful operation and condition of each of the Loan Parties is dependent upon the continued successful performance of the functions of the group of Loan Parties as a whole and the successful operation of each Loan Party is dependent upon the successful performance and operation of each other Loan Party. Each of the Loan Parties expects to derive benefit (and its board of directors or other governing body has determined that it may reasonably be expected to derive benefit) directly and indirectly from successful operations of the Lead Borrower and each of the other Loan Parties. Each Loan Party expects to derive benefit (and its board of directors or other governing body has determined that it may reasonably be expected to derive benefit) directly and indirectly from the credit extended by the Lenders, the Issuing Banks and the Acceptance Lenders to the Loan Parties hereunder, both in their separate capacities and as members of the group of companies. Each Loan Party has determined that the execution, delivery and performance of this Agreement and any other Loan Document to be executed by such Loan Party is within its purpose, will be of direct and indirect benefit to such Loan Party, and is in its best interests.

Appears in 7 contracts

Sources: Credit Agreement (Caleres Inc), Credit Agreement (Caleres Inc), Fourth Amended and Restated Credit Agreement (Caleres Inc)

Common Enterprise. The successful operation and condition of each of the Loan Parties is dependent upon on the continued successful performance of the functions of the group of Loan Parties as a whole and the successful operation of each Loan Party is dependent upon on the successful performance and operation of each of the other Loan PartyParties. Each of the Loan Parties expects to derive benefit (and its board of directors or other governing body has determined that it may reasonably be expected to derive benefit) ), directly and indirectly indirectly, from successful operations of the Lead Borrower and each of the other Loan Parties. Each Loan Party expects to derive benefit (and its board the boards of directors or other governing body has of each such Loan Party have determined that it may reasonably be expected to derive benefit) ), directly and indirectly indirectly, from the credit extended by the Lenders, the Issuing Banks and the Acceptance Lenders to the Loan Parties hereunder, both in their separate capacities and as members of the a group of companies. Each Loan Party has determined that the execution, delivery delivery, and performance of this Agreement and any other Loan Document Documents to be executed by such Loan Party is within its corporate purpose, will be of direct and indirect benefit to such Loan Party, and is in its best interestsinterest.

Appears in 6 contracts

Sources: Credit Agreement (Salton Inc), Term Loan Agreement (Salton Inc), Credit Agreement (Applica Inc)

Common Enterprise. The successful operation and condition of each of the Loan Parties is dependent upon on the continued successful performance of the functions of the group of Loan Parties as a whole and the successful operation of each Loan Party is dependent upon on the successful performance and operation of each other Loan Party. Each of the Loan Parties expects to derive benefit (and its board of directors or other governing body has determined that it may reasonably be expected to derive benefit) ), directly and indirectly indirectly, from successful operations of the Lead Borrower and each of the other Loan Parties. Each Loan Party expects to derive benefit (and its board the boards of directors or other governing body has of each such Loan Party have determined that it may reasonably be expected to derive benefit) ), directly and indirectly indirectly, from the credit extended by the Lenders, the Issuing Banks and the Acceptance Lenders to the Loan Parties hereunder, both in their separate capacities and as members of the group of companies. Each Loan Party has determined that the execution, delivery delivery, and performance of this Agreement and any other Loan Document Other Documents to be executed by such Loan Party is within its corporate purpose, will be of direct and indirect benefit to such Loan Party, and is in its best interestsinterest.

Appears in 2 contracts

Sources: Revolving Credit, Term Loan and Security Agreement (PHI Group, Inc./De), Revolving Credit, Term Loan and Security Agreement (PHI Group, Inc./De)

Common Enterprise. The successful operation and condition of each of the Loan Parties is dependent upon the continued successful performance of the functions of the group of Loan Parties as a whole and the successful operation of each Loan Party is dependent upon the successful performance and operation of each other Loan Party. Each of the Loan Parties expects to derive benefit (and its board of directors or other governing body has determined that it may reasonably be expected to derive benefit) directly and indirectly from successful operations of the Lead Borrower and each of the other Loan Parties. Each Loan Party expects to derive benefit (and its board of directors or other governing body has determined that it may reasonably be expected to derive benefit) directly and indirectly from the credit extended by the Lenders, the Issuing Banks and the Acceptance Lenders to the Loan Parties hereunder, both in inn their separate capacities and as members of the group of companies. Each Loan Party has determined that the execution, delivery and performance of this Agreement and any other Loan Document to be executed by such Loan Party is within its purpose, will be of direct and indirect benefit to such Loan Party, and is in its best interests.

Appears in 1 contract

Sources: Credit Agreement (Brown Shoe Co Inc)

Common Enterprise. The successful operation and condition of each of the Loan Parties is dependent upon the continued successful performance of the functions of the group of Loan Parties as a whole and the successful operation of each Loan Party is dependent upon the successful performance and operation of each other Loan Party. Each of the Loan Parties expects to derive benefit (and its board of directors or other governing body has determined that it may reasonably be expected to derive benefit) directly and indirectly from successful operations of the Lead Borrower and each of the other Loan Parties. Each Loan Party expects to derive benefit (and its board of directors or other governing body has determined that it may reasonably be expected to derive benefit) directly and indirectly from the credit extended by the Lenders, the Issuing Banks and the Acceptance Lenders to the Loan Parties hereunder, both in their separate capacities and as members of the group of companies. Each Loan Party has determined that the execution, delivery and performance of this Agreement and any other Loan Document to be executed by such Loan Party is within its purpose, will be of direct and indirect benefit to such Loan Party, and is in its best interests.. ​

Appears in 1 contract

Sources: Credit Agreement (Caleres Inc)

Common Enterprise. The successful operation and condition of each of the Loan Parties Consolidated Members is dependent upon on the continued successful performance of the functions of the group of Loan Parties Consolidated Members as a whole and the successful operation of each Loan Party Consolidated Member is dependent upon on the successful performance and operation of each other Loan PartyConsolidated Member. Each of the Loan Parties expects to derive benefit (and its board of directors or other governing body has determined that it may reasonably be expected to derive benefit) ), directly and indirectly indirectly, from successful operations of the Lead Borrower Parent and each of the other Loan PartiesConsolidated Members. Each Loan Party expects to derive benefit (and its board the boards of directors or other governing body has of each such Loan Party have determined that it may reasonably be expected to derive benefit) ), directly and indirectly indirectly, from the credit extended by the Lenders, the Issuing Banks and the Acceptance Lenders to the Loan Parties Borrowers hereunder, both in their separate capacities and as members of the group of companies. Each Loan Party has determined that the execution, delivery delivery, and performance of this Agreement and any other Loan Document Documents to be executed by such Loan Party is within its purpose, will be of direct and indirect benefit to such Loan Party, and is in its best interestsinterest.

Appears in 1 contract

Sources: Credit Agreement (Egl Inc)