No Additional Debt. Except for the Loan, Borrower shall not incur any indebtedness (whether personal or nonrecourse, secured or unsecured) other than customary trade payables paid within sixty (60) days after they are incurred.
No Additional Debt. No Borrower shall, without the prior written consent of Lender, incur any indebtedness (whether personal or nonrecourse, secured or unsecured) in connection with the Project owned by it, other than customary trade payables paid within sixty (60) days after they are incurred.
No Additional Debt. Borrower shall not, without the prior written consent of Lender, incur any indebtedness (whether personal or nonrecourse, secured or unsecured) in connection with the Property other than customary trade payables paid within sixty (60) days after they are incurred. Borrower represents that the Project constitutes nine (9) separate real estate projects, and does not constitute residential real property with fewer than 4 residential units. Borrower represents that the Project generates substantially all of the gross income of Borrower, and Borrower conducts no substantial business other than the business of owning and operating the Project and activities incidental thereto.
No Additional Debt. Except as may otherwise be approved in advance in writing by Lender, Grantor shall not incur any additional debt, secured or unsecured, direct or contingent (including guaranteeing any obligation), other than (a) the Loan and (b) advances or trade debt or accrued expenses incurred in the ordinary course of business and (c) the existing debt of 4Front Ventures in the original principal amount of approximately $5,000,0000.00. No other debt may be secured by the Property or Collateral, whether senior, subordinate or pari passu. 37867101.2 01/05/2021
No Additional Debt. Except for the Loan, no Borrower shall incur any indebtedness (whether personal or nonrecourse, secured or unsecured) other than customary trade payables paid within sixty (60) days after they are incurred and equipment lease financing in the ordinary course of business; provided, however, that Borrowers shall be permitted to enter into recourse debt with the consent of Lender, which consent shall not be unreasonably withheld by Lender.
No Additional Debt. The Borrower will not create, incur, assume, or suffer to exist (with respect to future debt), or permit any subsidiary to create, incur, assume, or suffer to exist (with respect to future debt), any additional debt, except:
No Additional Debt. The Investor and Zana acknowledge that they are not owed any additional monies by the Company as of the date hereof.
No Additional Debt. (i) Except as expressly permitted in clause (ii) below, the Borrower shall not create, incur, assume, suffer to exist or otherwise become or remain directly or indirectly liable with respect to any Indebtedness other than under this Facility.
No Additional Debt. So long as there is any Debt outstanding or the line of credit remains in effect, except for any Debt owing to the Lender or debt issued contemporaneously with payment of the Debt in full and termination of the line of credit, the Company shall not incur or issue or permit to exist any indebtedness for borrowed money (whether or not evidenced by any note, indenture, mortgage or other instrument), including without limitation any deferred portion of the purchase price for property or services (other than trade payables incurred in the ordinary course of business that are not past due) without the written consent of Lender (which consent shall not be unreasonably withheld, conditioned or delayed); provided, however, that the Company may, without the consent or approval of the Lender, incur junior debt in the aggregate principal amount of up to Five Hundred Thousand Dollars ($500,000) in connection with the purchase or lease of property (whether or not in the ordinary course of business).
No Additional Debt. No Borrower shall, without the prior written consent of Lender, incur any indebtedness (whether personal or nonrecourse, secured or unsecured) other than customary trade payables.
