Employee Loans and Affiliate Transactions. (a) Other than a Permitted Sale-Leaseback, no Credit Party shall enter into or be a party to any transaction with any other Credit Party or any Affiliate thereof except in the ordinary course of and pursuant to the reasonable requirements of such Credit Party’s business and upon fair and reasonable terms that are no less favorable to such Credit Party than would be obtained in a comparable arm’s length transaction with a Person not an Affiliate of such Credit Party. In addition, if any such transaction or series of related transactions involves payments in excess of $1,000,000 in the aggregate, the terms of these transactions must be disclosed in advance to Agent and Lenders. All such transactions existing as of the date hereof are described in Disclosure Schedule (6.4(a)).
Employee Loans and Affiliate Transactions. (a) No Credit Party shall enter into or be a party to any transaction with any other Credit Party or any Affiliate thereof except in the ordinary course of and pursuant to the reasonable requirements of such Credit Party’s business and upon fair and reasonable terms that are no less favorable to such Credit Party than would be obtained in a comparable arm’s length transaction with a Person not an Affiliate of such Credit Party. In addition, if any such transaction or series of related transactions involves payments in excess of $100,000 in the aggregate, the terms of these transactions must be disclosed in advance to Agent and Lenders. All such transactions existing as of the date hereof are described in Disclosure Schedule (6.4(a)).
Employee Loans and Affiliate Transactions. (a) No Credit Party shall enter into or be a party to any transaction with any Affiliate thereof except (i) the incurrence of Permitted Intercompany Indebtedness, (ii) those transactions described in Disclosure Schedule 6.4 and (iii) in the ordinary course of and pursuant to the reasonable requirements of such Credit Party's business and upon fair and reasonable terms that are no less favorable to such Credit Party than would be obtained in a comparable arm's length transaction with a Person not an Affiliate of such Credit Party.
Employee Loans and Affiliate Transactions. No Loan Party shall, nor shall it permit any of its Subsidiaries to, enter into any transaction with any Affiliate of such Loan Party or of any such Subsidiary, except:
Employee Loans and Affiliate Transactions. (a) No Credit Party shall enter into or be a party to any transaction with any Affiliate thereof (other than another Credit Party) except in the ordinary course of and pursuant to the reasonable requirements of such Credit Party's business and upon fair and reasonable terms that are no less favorable to such Credit Party than would be obtained in a comparable arm's length transaction with a Person not an Affiliate of such Credit Party, except intercompany loans permitted in clauses (h) and (i) of Section 6.3 and the Consignment Agreement. In addition, if any such transaction or series of related transactions involves payments in excess of $1,000,000 in the aggregate, the terms of these transactions must be disclosed in advance to Agent (which disclosure may be in the form of a request for issuance of an Eligible Trade L/C). All such transactions existing as of the date hereof are described on Disclosure Schedule 6.4(a).
Employee Loans and Affiliate Transactions. (a) No Credit Party shall enter into or be a party to any transaction with any other Credit Party or any Affiliate thereof, except in the ordinary course of and pursuant to the reasonable requirements of such Credit Party's business and upon fair and reasonable terms that are no less favorable to such Credit Party than would be obtained in a comparable arm's length transaction with a Person not an Affiliate of such Credit Party. All such transactions with Affiliates (other than Credit Parties) existing as of the Closing Date are described in DISCLOSURE SCHEDULE 6.4(A).
Employee Loans and Affiliate Transactions. (a) Except as otherwise expressly permitted in this Section 6 with respect to Affiliates, no Credit Party shall enter into or be a party to any transaction with any other Credit Party or any Affiliate thereof except in the ordinary course of and pursuant to the reasonable requirements of such Credit Party's business and upon fair and reasonable terms that are no less favorable to such Credit Party than would be obtained in a comparable arm's length transaction with a Person not an Affiliate of such Credit Party. In addition, if any such transaction or series of related transactions not otherwise permitted under Article 6 involves payments in excess of $50,000 for any single transaction or $250,000 in the aggregate for all Credit Parties, the terms of these transactions must be disclosed in advance to Agent and Lenders. All such transactions existing as of the date hereof are described in Disclosure Schedule (6.4(a)).
Employee Loans and Affiliate Transactions. (a) No Obligor shall, or shall cause or permit any Subsidiary thereof to, enter into or be a party to any transaction with any Affiliate of any such Person, other than (i) as permitted by SECTIONS 6.2, 6.4(B), or 6.13, (ii) in the ordinary course of and pursuant to the reasonable requirements of such Person's business and upon fair and reasonable terms that are fully disclosed to Agent in advance and are no less favorable to such Person than would be obtained in a comparable arm's length transaction with a third party not an Affiliate of such Person, (iii) loans to employees or other transactions between or among Obligors providing goods and services described on SCHEDULE 6.4 as of the Closing Date in the ordinary course of business consistent with past practices, (iv) payments made pursuant to the tax sharing agreement described on SCHEDULE 3.13 as of the Closing Date, to the extent permitted by, and made in accordance with, clause (i) of SECTION 6.13, and (v) cash payments to Holdings to enable Holdings (contemporaneously with, and in the same amount of, such payments) to (1) fund its obligations under "Executive Retirement Plans" described on SCHEDULE 6.4 as of the Closing Date in an aggregate amount not to exceed $300,000 in any Fiscal Year (except, $1,100,000 in Fiscal Year 2000, $845,000 of which shall be paid by Parent to Holdings' former chief executive officer pursuant to Holding's existing severance arrangements with such Person) and (2) pay the general corporate, operating and administrative expenses of Holdings allocated to such Obligor or Subsidiary PROVIDED THAT payments made pursuant to this subclause (2) to Holdings by any Obligor or Subsidiary thereof shall not exceed such Obligor's or Subsidiary's fair allocable share of the expenses incurred by Holdings for the benefit of Obligors and their Subsidiaries. Payments made in accordance with clauses (iv) and (v) above may be accounted for by the applicable Obligor or Subsidiary as a cash dividend to Holdings or as an expense for the reimbursement of Holdings' expenses in the income statement of such Obligor or Subsidiary.
Employee Loans and Affiliate Transactions. (a) Except as disclosed in Disclosure Schedule 6.4(a), no Sotheby Entity shall enter into or be a party to any transaction with any other Sotheby Entity or any Affiliate thereof except in the ordinary course of and pursuant to the reasonable requirements of such Sotheby Entity’s business and, in the case of any transaction with any Affiliate thereof (other than another Sotheby Entity), upon fair and reasonable terms that are no less favorable to such Sotheby Entity than would be obtained in a comparable arm’s length transaction with a Person not an Affiliate of such Sotheby Entity.
Employee Loans and Affiliate Transactions. (a) Except as otherwise expressly permitted in this Section 6 with respect to Affiliates and except for transactions referred to on Disclosure Schedule (6.4(a)), no Credit Party shall enter into or be a party to any transaction with any other Credit Party or any Affiliate thereof except in the ordinary course of, and pursuant to the reasonable requirements of, such Credit Party’s business and upon fair and reasonable terms that are no less favorable to such Credit Party than would be obtained in a comparable arm’s length transaction with a Person not an Affiliate of such Credit Party. In addition, if any such transaction or series of related transactions, except for such transactions between Borrower and any Subsidiary Guarantor or between Subsidiary Guarantors in the ordinary course of business, involves payments in excess of $1,000,000 in the aggregate, the terms of these transactions must be disclosed in advance to Agent and Lenders. All such transactions existing as of the date hereof are described in Disclosure Schedule (6.4(a)).
