Common use of Employee Loans and Affiliate Transactions Clause in Contracts

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)).

Appears in 2 contracts

Samples: Credit Agreement (Wesco International Inc), Credit Agreement (Wesco International Inc)

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Employee Loans and Affiliate Transactions. (a) Other than a Permitted Sale-LeasebackExcept 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 '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 '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 $1,000,000 500,000 in the aggregate, the terms of these such transactions must be disclosed in advance to Agent and Lenders. All such transactions existing as of the date hereof are described in on Disclosure Schedule (6.4(a)).

Appears in 2 contracts

Samples: Credit Agreement (Filenes Basement Corp), In Possession Credit Agreement (Filenes Basement Corp)

Employee Loans and Affiliate Transactions. (a) Other than a Permitted Sale-LeasebackExcept 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 '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 '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 Administrative Agent and Lenders. All such transactions existing as of the date hereof are described in on Disclosure Schedule (6.4(a)).

Appears in 2 contracts

Samples: Credit Agreement (Bon Ton Stores Inc), Credit Agreement (Bon Ton Stores Inc)

Employee Loans and Affiliate Transactions. (a) Other than a Permitted Sale-LeasebackExcept 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 involves payments in excess of $1,000,000 500,000 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)).

Appears in 2 contracts

Samples: Credit Agreement (Huttig Building Products Inc), Credit Agreement (Huttig Building Products Inc)

Employee Loans and Affiliate Transactions. (a) Other than a Permitted Sale-LeasebackExcept 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 '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 '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 50,000 in the aggregate, the terms of these transactions must be disclosed in advance to Agent and LendersLender. All such transactions existing or pending as of the date hereof Closing Date are described in on Disclosure Schedule (6.4(a)6.4).

Appears in 1 contract

Samples: Credit Agreement (Ringer Corp /Mn/)

Employee Loans and Affiliate Transactions. (a) Other than a Permitted Sale-LeasebackExcept 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 '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 '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 25,000 in the aggregate, the terms of these transactions must be disclosed in advance to Agent and LendersLender. All such transactions existing as of the date hereof are described in Disclosure Schedule (6.4(a)).. ----------------------------

Appears in 1 contract

Samples: Credit Agreement (Peets Coffee & Tea Inc)

Employee Loans and Affiliate Transactions. (a) Other than a Permitted Sale-LeasebackExcept 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 '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 '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 $1,000,000 100,000 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)).

Appears in 1 contract

Samples: Credit Agreement (Coyne International Enterprises Corp)

Employee Loans and Affiliate Transactions. (a) Other than a Permitted Sale-LeasebackExcept as set forth on Disclosure Schedule 6.4(a) and except as 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 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)).

Appears in 1 contract

Samples: Credit Agreement (Applied Extrusion Technologies Inc /De)

Employee Loans and Affiliate Transactions. (a) Other than a Permitted Sale-Leaseback, no No Credit Party shall enter into or be a party to any transaction with any Affiliate (other than another Credit Party or any Affiliate that is not a Non-Guarantor Subsidiary) thereof except in the ordinary course of and pursuant to the reasonable requirements of such Credit Party’s '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 '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 advance, in writing, to Agent and Lenders. All such transactions existing as of the date hereof are described in Disclosure Schedule (6.4(a)).

Appears in 1 contract

Samples: Credit Agreement (Odyssey Healthcare Inc)

Employee Loans and Affiliate Transactions. (a) Other than a Permitted Sale-LeasebackExcept 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 '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 '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 $1,000,000 500,000 in the aggregate, the terms of these transactions must be disclosed in advance to Agent and LendersAgent. All such transactions existing as of the date hereof are described in Disclosure Schedule (6.4(a)).. ---------------------------

Appears in 1 contract

Samples: Credit Agreement (United Road Services Inc)

Employee Loans and Affiliate Transactions. (a) Other than a Permitted Sale-Leaseback, no No Credit Party shall enter into or be a party to any transaction with any Affiliate (other than another Credit Party or any Affiliate that is not a Non-Guarantor Subsidiary) 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 advance, in writing, to Agent and Lenders. All such transactions existing as of the date hereof are described in Disclosure Schedule (6.4(a)).

Appears in 1 contract

Samples: Credit Agreement (Odyssey Healthcare Inc)

Employee Loans and Affiliate Transactions. (a) Other than a Permitted Sale-LeasebackExcept 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 involves payments in excess of $1,000,000 50,000 in the aggregate, the terms of these transactions must be disclosed in advance to Agent and LendersLender. All such transactions existing as of the date hereof are described in Disclosure Schedule (6.4(a)).

Appears in 1 contract

Samples: Credit Agreement (Newtek Business Services Inc)

Employee Loans and Affiliate Transactions. (a) Other than a Permitted Sale-LeasebackExcept as otherwise expressly permitted in this Section 6, 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 '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 '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 50,000 in the aggregate, the terms of these such 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)).

Appears in 1 contract

Samples: Credit Agreement (Life Time Fitness Inc)

Employee Loans and Affiliate Transactions. (a) Other than a Permitted Sale-LeasebackExcept 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 '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 '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 $1,000,000 100,000 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 DISCLOSURE SCHEDULE (6.4(a)).

Appears in 1 contract

Samples: Credit Agreement (Track N Trail Inc)

Employee Loans and Affiliate Transactions. (a) Other than a Permitted Sale-LeasebackExcept 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 '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 '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 Agents and Lenders. All such transactions existing as of the date hereof are described in on Disclosure Schedule (6.4(a)).. ---------------------------

Appears in 1 contract

Samples: Credit Agreement (Bon Ton Stores Inc)

Employee Loans and Affiliate Transactions. (a) Other than a Permitted Sale-Leaseback. 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 '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 '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 $1,000,000 250,000 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 on Disclosure Schedule (6.4(a)).

Appears in 1 contract

Samples: Credit Agreement (Astec Industries Inc)

Employee Loans and Affiliate Transactions. (a) Other than a Permitted Sale-LeasebackExcept 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 '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 '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 $1,000,000 500,000 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)).

Appears in 1 contract

Samples: Credit Agreement (PAV Republic, Inc.)

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Employee Loans and Affiliate Transactions. (a) Other than a Permitted Sale-LeasebackExcept 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 entered into outside the ordinary course of business involves payments in excess of $1,000,000 500,000 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)).

Appears in 1 contract

Samples: Credit Agreement (Northland Cable Properties Seven Limited Partnership)

Employee Loans and Affiliate Transactions. (a) Other than a Permitted Sale-LeasebackExcept 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 '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 's length transaction with a Person not an Affiliate of such Credit Party. In addition, if any such transaction or series of related transactions (other than transactions permitted by Section 6.2 hereof and transactions solely among Credit Parties) involves payments in excess of $1,000,000 100,000 in the aggregate, the terms of these transactions must be disclosed in advance to Agent Agents and Lenders. All such transactions existing as of the date hereof are described in Disclosure Schedule (6.4(a)).

Appears in 1 contract

Samples: Credit Agreement (Allied Holdings Inc)

Employee Loans and Affiliate Transactions. (a) Other than a Permitted Sale-LeasebackExcept 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 involves payments in excess of $1,000,000 100,000 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)).

Appears in 1 contract

Samples: Credit Agreement (Pediatric Services of America Inc)

Employee Loans and Affiliate Transactions. (a) Other than a Permitted Sale-LeasebackExcept 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 '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 '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 50,000 in the aggregate, the terms of these transactions must be disclosed in advance to Agent and Lenders. All such transactions existing or pending as of the date hereof Closing Date are described in on Disclosure Schedule (6.4(a)6.4).

Appears in 1 contract

Samples: Credit Agreement (Verdant Brands Inc)

Employee Loans and Affiliate Transactions. (a) Other than a Permitted Sale-LeasebackExcept 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 '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 '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 $1,000,000 250,000 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 on Disclosure Schedule (6.4(a)).

Appears in 1 contract

Samples: Credit Agreement (American Eco Corp)

Employee Loans and Affiliate Transactions. (a) Other than a Permitted Sale-LeasebackExcept 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 '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 '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 25,000 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)).

Appears in 1 contract

Samples: Credit Agreement (Lacrosse Footwear Inc)

Employee Loans and Affiliate Transactions. (a) Other than a Permitted Sale-LeasebackExcept 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 '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 '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 2,000,000 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)).

Appears in 1 contract

Samples: Credit Agreement (Harvard Industries Inc)

Employee Loans and Affiliate Transactions. (a) Other than a Permitted Sale-LeasebackExcept 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 business and pursuant to the reasonable requirements of such Credit Party’s '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 '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 $1,000,000 500,000 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)).

Appears in 1 contract

Samples: Credit Agreement (Styling Technology Corp)

Employee Loans and Affiliate Transactions. (a) Other than a Permitted Sale-LeasebackExcept 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 (i) 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 PartyParty and (ii) the transactions described in Disclosure Schedule (6.4(a)). In addition, if any such transaction or series of related transactions involves payments in excess of $1,000,000 750,000 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)).

Appears in 1 contract

Samples: Credit Agreement (Rowe Companies)

Employee Loans and Affiliate Transactions. (a) Other than a Permitted Sale-LeasebackExcept 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 '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 's length transaction with a Person not an Affiliate of such Credit Party. In addition, except for (i) transactions among the Credit Parties and (ii) compensation of officers and directors, if any such transaction or series of related transactions involves payments in excess of $1,000,000 250,000 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)).

Appears in 1 contract

Samples: Credit Agreement (Carmike Cinemas Inc)

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