Employee Loans Clause Samples
The Employee Loans clause outlines the terms under which an employer may provide loans to employees. It typically specifies eligibility criteria, repayment schedules, interest rates, and the consequences of default or termination of employment. For example, the clause may require repayment through payroll deductions or set limits on the maximum loan amount. Its core function is to establish clear rules and expectations for both parties, reducing misunderstandings and ensuring proper management of financial assistance provided to employees.
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Employee Loans. Borrower has no outstanding loans to any employee, officer or director of the Borrower nor has Borrower guaranteed the payment of any loan made to an employee, officer or director of the Borrower by a third party.
Employee Loans. Borrower shall not, and shall not permit any Subsidiary of Borrower to, make or accrue any loans or other advances of money to any employee of Borrower or any Subsidiary in excess at any one time of $50,000 in the aggregate for all such loans, provided that any such loans are made only in the ordinary course of Borrower's or such Subsidiary's business.
Employee Loans. Except as permitted hereunder, ▇▇▇▇▇▇▇▇ has no outstanding loans to any employee, officer or director of the Borrower nor has Borrower guaranteed the payment of any loan made to an employee, officer or director of the Borrower by a third party.
Employee Loans. The Company has not, directly or indirectly, including through any Subsidiary, extended credit, arranged to extend credit, or renewed any extension of credit, in the form of a personal loan, to or for any director or executive officer of the Company, or to or for any family member or affiliate of any director or executive officer of the Company.
Employee Loans. Make any loans or advances to an employee of Borrower other than loans in an aggregate amount not to exceed $100,000 provided that such loans are used to purchase Equity Interests in Borrower and at the time of the loan no Default or Event of Default exists.
Employee Loans. No Loan Party has outstanding loans to any employee, officer or director of such Loan Party nor has any Loan Party guaranteed the payment of any loan made to an employee, officer or director of such Loan Party by a third party, except as permitted by the Loan Documents.
Employee Loans. (i) Except as expressly permitted by Sections 7.7 and 7.8, Borrower has no outstanding loans to any employee, officer or director of the Borrower, and (ii) Borrower has not guaranteed the payment of any loan made to an employee, officer or director of the Borrower by a third party.
Employee Loans. Except for Permitted Investments of the type described in clause (viii) or (ix) of the definition thereof, Borrower has no outstanding loans to any employee, officer or director of the Borrower nor has Borrower guaranteed the payment of any loan made to an employee, officer or director of the Borrower by a third party.
Employee Loans. The Obligors have no outstanding loans to any employee, officer or director of any Obligor nor has any Obligor guaranteed the payment of any loan made to an employee, officer or director of any Obligor by a third party.
Employee Loans. Except as set forth on Schedule 5.13 Borrower has no outstanding loans to any employee, officer or director of the Borrower nor has Borrower guaranteed the payment of any loan made to an employee, officer or director of the Borrower by a third party.