Common use of Other Debts Clause in Contracts

Other Debts. Not to have outstanding or incur any direct or contingent debts (other than those to the Bank), or become liable for the debts of others without the Bank's written consent. This does not prohibit: (a) Acquiring goods, supplies, or merchandise on normal trade credit. (b) Endorsing negotiable instruments received in the usual course of business. (c) Obtaining surety bonds in the usual course of business. (d) Indebtedness assumed in connection with transactions permitted in Paragraph 6.16(e) below.

Appears in 1 contract

Sources: Business Loan Agreement (Variflex Inc)

Other Debts. Not to have outstanding or incur any direct or contingent debts liabilities (other than those to the Bank), or become liable for the debts liabilities of others others, without the Bank's written consent. This does not prohibit: (a) Acquiring goods, supplies, or merchandise on normal trade credit. (b) Endorsing negotiable instruments received in the usual course of business. (c) Obtaining surety bonds in the usual course of business. (d) Indebtedness assumed Liabilities in connection with transactions permitted existence on the date of this Agreement disclosed in Paragraph 6.16(e) belowwriting to the Bank.

Appears in 1 contract

Sources: Business Loan Agreement (Calavo Growers Inc)

Other Debts. Not to have outstanding or incur any direct or contingent debts liabilities (other than those to the Bank), or become liable for the debts liabilities of others without the Bank's written consent. This does not prohibit: (a) Acquiring goods, supplies, or merchandise on normal trade credit. (b) Endorsing negotiable instruments received in the usual course of business. (c) Obtaining surety bonds in the usual course of business. (d) Indebtedness assumed in connection with transactions permitted in Paragraph 6.16(e6.17(g) below.

Appears in 1 contract

Sources: Business Loan Agreement (Variflex Inc)

Other Debts. Not to have outstanding or incur any direct or contingent debts (other [or lease obligations](other than those to the Bank), or become liable for the debts of others without the Bank's written consent. This does not prohibit: (a) Acquiring goods, supplies, supplies or merchandise on normal trade credit. (b) Endorsing negotiable instruments received in the usual course of business. (c) Obtaining surety bonds in the usual course of business. (d) Indebtedness assumed Debts in connection with transactions permitted existence on the date of this Agreement disclosed in Paragraph 6.16(e) belowwriting to Bank.

Appears in 1 contract

Sources: Business Loan Agreement (Mobility Electronics Inc)

Other Debts. Not to have outstanding or incur any direct or contingent debts (other than those to the BankBank and its affiliates), or become liable for the debts of others without the Bank's written consent. This does not prohibit: (a) Acquiring goods, supplies, or merchandise on normal trade credit. (b) Endorsing negotiable instruments received in the usual course of business. (c) Obtaining surety bonds in the usual course of business. (d) Indebtedness assumed Debts and lines of credit and capital leases in connection with transactions permitted existence on the date of this Agreement disclosed in Paragraph 6.16(e) belowwriting to the Bank.

Appears in 1 contract

Sources: Business Loan Agreement (Wholesome & Hearty Foods Inc)

Other Debts. Not to have outstanding or incur any direct or contingent debts (other than those to the Bank), or become liable for the debts of others without the Bank's written consent. This does not prohibit: (a) Acquiring goods, supplies, or merchandise on normal trade credit. (b) Endorsing negotiable instruments received in the usual course of business. (c) Obtaining surety bonds in the usual course of business. (d) Indebtedness assumed Debts and lines of credit in connection with transactions permitted existence on the date of this Agreement disclosed in Paragraph 6.16(e) belowwriting to the Bank.

Appears in 1 contract

Sources: Business Loan Agreement (Channell Commercial Corp)

Other Debts. Not to have outstanding or incur any direct or contingent debts (other than those to the Bank), or become liable for the debts of others others, or sell or discount (except for compromises extended in the ordinary course of business) any of its accounts receivable without the Bank's written consent. This does not prohibit: (a) Acquiring goods, supplies, or merchandise on normal trade credit. (b) Endorsing negotiable instruments received in the usual course of business. (c) Obtaining surety bonds in the usual course of business. (d) Indebtedness assumed in connection with transactions permitted in Paragraph 6.16(e) below.

Appears in 1 contract

Sources: Business Loan Agreement (Ba Merchant Services Inc)