Common use of Employee Loans and Affiliate Transactions Clause in Contracts

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)).

Appears in 4 contracts

Samples: Fourth Amended (Navarre Corp /Mn/), Credit Agreement (Navarre Corp /Mn/), Credit Agreement (Navarre Corp /Mn/)

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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 '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 $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 2 contracts

Samples: Credit Agreement (Navarre Corp /Mn/), Credit Agreement (Navarre Corp /Mn/)

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 '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 $100,000 250,000 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 2 contracts

Samples: Credit Agreement (Insteel Industries Inc), Credit Agreement (Insteel Industries Inc)

Employee Loans and Affiliate Transactions. (a) No Credit Party shall enter into or be a party to any transaction with any other Affiliate of any Credit Party or 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. In addition, if any such transaction or series of related transactions involves payments in excess of $100,000 500,000 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 (Caraustar Industries Inc), Credit Agreement (Caraustar Industries Inc)

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 $100,000 250,000 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 2 contracts

Samples: Credit Agreement (Analysts International Corp), Credit Agreement (FCA Acquisition Corp.)

Employee Loans and Affiliate Transactions. (a) No Credit Loan Party shall enter into or be a party to any transaction with any other Credit Loan Party or any Affiliate thereof except in the ordinary course of and pursuant to the reasonable requirements of such Credit Loan Party’s 's business and upon fair and reasonable terms that are no less favorable to such Credit Loan Party than would be obtained in a comparable arm’s 's length transaction with a Person not an Affiliate of such Credit Loan Party. In addition, if any such transaction or series of related transactions involves payments in excess of $100,000 250,000 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 2 contracts

Samples: Credit Agreement (Brightpoint Inc), Pledge Agreement (Brightpoint Inc)

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 '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 $100,000 50,000 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 2 contracts

Samples: Credit Agreement (Zomax Optical Media Inc), Credit Agreement (Zomax Optical Media Inc)

Employee Loans and Affiliate Transactions. (a) No Credit Party shall enter into or be a party to any transaction with any Affiliate (other than another Credit Party or any Affiliate Party) 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 $100,000 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) 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 $100,000 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 (Navarre Corp /Mn/)

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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 25,000 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 (Energy Coal Resources, Inc.)

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 50,000 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 (Amedisys Inc)

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 '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 $100,000 250,000 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 (United Shipping & Technology Inc)

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 50,000 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 (Carlisle Holdings LTD)

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 '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 $100,000 50,000 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 (Mim Corp)

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