Common use of Future Borrowings Clause in Contracts

Future Borrowings. So long as any of the Notes is outstanding, the Company will not, and will not permit any of its Subsidiaries to, make loans or advances to, or guarantee the obligations of any person, including any Subsidiary, which is senior to the Notes, except for additional borrowings from existing lenders of Senior Indebtedness.

Appears in 2 contracts

Sources: Purchase Agreement (Dental Medical Diagnostic Systems Inc), Purchase Agreement (Dental Medical Diagnostic Systems Inc)

Future Borrowings. So long as any of the Notes is outstanding, the Company will not, and will not permit any of its Subsidiaries to, make loans or advances to, or guarantee the obligations of any person, including any Subsidiary, which is senior to the Notes, except for additional borrowings from the Senior Lender under the Credit Agreement and for borrowings from any lender from whom the Company and / or a Subsidiary obtain a credit facility which is used solely to retire the existing lenders of Senior IndebtednessIndebtedness outstanding under the Credit Agreement.

Appears in 1 contract

Sources: Purchase Agreement (Netter Digital Entertainment Inc)