Indebtedness and Guaranties. Incur any indebtedness for borrowed money or incur, assume or become subject to, whether directly or by way of any guarantee or otherwise, any obligations or liabilities (absolute, accrued, contingent or otherwise) of any other person, other than the issuance of letters of credit in the ordinary course of business; provided, however, that Cascade shall not be prohibited from (i) drawing on Cascade’s credit facility in effect on the date hereof, (ii) incurrence of any indebtedness in connection with the transactions contemplated in this Agreement or (iii) incurrence of any indebtedness by Cascade Bank so long as, in the case of each of clauses (i)-(iii), any such indebtedness is not reasonably likely to result in a commitment or option to convert or redeem such indebtedness in Cascade Common Stock.
Appears in 4 contracts
Samples: Agreement and Plan of Merger (Cascade Bancorp), Agreement and Plan of Merger (Home Federal Bancorp, Inc.), Agreement and Plan of Merger (Home Federal Bancorp, Inc.)
