Loans from Third Parties Clause Samples
The "Loans from Third Parties" clause defines the conditions under which a party to the agreement may obtain financing or loans from entities that are not part of the contract. Typically, this clause outlines any required notifications, consents, or restrictions related to seeking external loans, and may specify whether such borrowing is permitted without breaching the agreement. Its core function is to manage and control the financial obligations a party can undertake with outside lenders, thereby protecting the interests of the other party and ensuring that external debt does not adversely affect the contractual relationship.
Loans from Third Parties. The Company may incur Indebtedness, or enter into other similar credit, guarantee, financing or refinancing arrangements for any purpose with any Person upon such terms as the Manager determines appropriate; provided that the Company shall not incur any Indebtedness that is recourse to any Member, except to the extent otherwise agreed to in writing by the applicable Member in its sole discretion.
Loans from Third Parties. The Company will be authorized to borrow from recognized banks or financial institutions and other lenders who are not Affiliates of any Members of the Company, at such times and on such terms as the Board approves.
Loans from Third Parties. The Company may incur Indebtedness, or enter into other similar credit, guarantee, surety, financing or refinancing arrangements for any purpose with any Person upon such terms as the Manager determines appropriate, including to guarantee or provide other credit support arrangements for the benefit of its Subsidiaries or CPE; provided that the Company shall not incur any Indebtedness that is recourse to any Member, except to the extent otherwise agreed to in writing by the applicable Member in its sole discretion. Notwithstanding the foregoing, CPE may (but shall not be required to), with the approval of the Rio Tinto Members, enter into guarantees or other credit support arrangements for the benefit of the Company and/or its Subsidiaries, but no other Member shall be required to do so.