Existing Credit Sample Clauses
Existing Credit. Lender shall have received satisfactory evidence that (i) the existing revolving credit facilities provided to Mobitec AB and Mobitec GMBH by Handelsbanken and Svenska Handelsbanken, respectively, have been amended or replaced, in each case, on terms and conditions consented to and approved by Lender in writing in the exercise of its sole and absolute discretion, and (ii) acknowledgment of and consent by Handelsbanken and Svenska Handelsbanken to pledge of security interests to Lender in the Pledged Collateral representing the Capital Stock of the Foreign Subsidiaries and the negative pledge with respect to such Capital Stock not Pledged Collateral.
Existing Credit. There are no outstanding loans, advances (except normal advances for business expenses in the ordinary course of business) or guarantees of indebtedness by the Company or any Subsidiary to or for the benefit of any of the officers or directors of the Company or any Subsidiary or any of their respective family members, except as disclosed in the Prospectus and the General Disclosure Package. Neither the Company nor any Subsidiary has directly or indirectly extended or maintained credit, arranged for the extension of credit, or renewed an extension of credit, in the form of a personal loan to or for any director or executive officer of the Company or any Subsidiary.