Common use of Debt; Liabilities Clause in Contracts

Debt; Liabilities. Except in the ordinary course of its business consistent with its past practices, (i) incur any indebtedness for borrowed money, other than deposits, federal funds purchased, cash management accounts, Federal Home Loan Bank borrowings that mature within one year and securities sold under agreements to repurchase that mature within 90 days, in each case in the ordinary course of business consistent with past practice, or assume, guarantee, endorse or otherwise as an accommodation become responsible for the obligations of any other person or entity, other than in the ordinary course of business consistent with past practice, (ii) prepay any indebtedness, or (iii) incur any other liability or obligation (absolute or contingent).

Appears in 2 contracts

Sources: Merger Agreement (FNB Corp/Nc), Merger Agreement (Integrity Financial Corp)