Common use of Loans and Advances to Officers Clause in Contracts

Loans and Advances to Officers. Loan or make advances, or other forms of extensions of credit, to any officer, director or shareholder (a “control person”) of the Borrower (or any control person of any Subsidiary or Affiliate of the Borrower), other than at arm’s length and/or commercially reasonable terms or which in the aggregate for all such loans and advances do not exceed $500,000 outstanding at any time.”

Appears in 1 contract

Samples: Credit Agreement (Hooper Holmes Inc)

AutoNDA by SimpleDocs

Loans and Advances to Officers. Loan or make advances, or other ------------------------------ forms of extensions of credit, to any officer, director or shareholder (a “control person”) of the Borrower (or any control person of any Subsidiary or to any Affiliate of any of the Borrower), foregoing other than at arm’s 's length and/or commercially reasonable terms or which in the aggregate for all such loans and advances do not exceed $500,000 1,000,000 outstanding at any time.

Appears in 1 contract

Samples: Credit Agreement (Hooper Holmes Inc)

Loans and Advances to Officers. Loan or make advances, or other forms of extensions of credit, to any officer, director or shareholder (a “control person”) of the Borrower (or any control person of any Subsidiary or to any Affiliate of any of the Borrower), foregoing other than at arm’s 's length and/or commercially reasonable terms or which in the aggregate for all such loans and advances do not exceed $500,000 2,000,000 outstanding at any time.

Appears in 1 contract

Samples: Revolving Credit and Term Loan Agreement (Hooper Holmes Inc)

AutoNDA by SimpleDocs

Loans and Advances to Officers. Loan or make ------------------------------ advances, or other forms of extensions of credit, to any officer, director or shareholder (a “control person”) of the Borrower (or any control person of any Subsidiary or to any Affiliate of any of the Borrower), foregoing other than at arm’s 's length and/or commercially reasonable terms or which in the aggregate for all such loans and advances do not exceed $500,000 1,000,000 outstanding at any time.

Appears in 1 contract

Samples: Credit Agreement (Hooper Holmes Inc)

Time is Money Join Law Insider Premium to draft better contracts faster.