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, Borrowers shall be permitted to enter into recourse debt with the consent of Lender, which consent shall not be unreasonably withheld by Lender.
Appears in 2 contracts
Sources: Secured Loan Agreement, Secured Loan Agreement (CNL Healthcare Trust, Inc.)
No Additional Debt. Except for No Borrower shall, without the Loanprior written consent of Lender, no Borrower shall 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 and equipment lease financing in the ordinary course of business; provided, however, Borrowers shall be permitted to enter into recourse debt with the consent of Lender, which consent shall not be unreasonably withheld by Lenderincurred.
Appears in 2 contracts
Sources: Loan Agreement (Cole Credit Property Trust III, Inc.), Loan Agreement (Cole Credit Property Trust III, Inc.)
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, Borrowers shall be permitted to enter into recourse debt with the consent of LenderAgent, which consent shall not be unreasonably withheld by LenderAgent.
Appears in 2 contracts
Sources: Secured Loan Agreement, Secured Loan Agreement (CNL Healthcare Properties, Inc.)
No Additional Debt. Except for the Loan, no The Borrower shall not, without the prior written consent of all Lenders, incur any indebtedness Indebtedness (whether personal or nonrecourse, secured or unsecured) other than the Obligations, customary trade payables paid within sixty (60) days after they are incurred incurred, and equipment lease financing in other contracts appropriate to completion of construction of the ordinary course of business; provided, however, Borrowers shall be permitted Project and not relating to enter into recourse debt with the consent of Lender, which consent shall not be unreasonably withheld by Lenderborrowed money.
Appears in 1 contract
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.
Appears in 1 contract
Sources: Secured Loan Agreement (CNL Healthcare Trust, Inc.)
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 after the Performance Date, Borrowers shall be permitted to enter into recourse debt with the consent of Lender, which consent shall not be unreasonably withheld by Lender.
Appears in 1 contract
Sources: Secured Loan Agreement (CNL Healthcare Trust, Inc.)