Common use of Special Purpose Clause in Contracts

Special Purpose. The Borrower will not: (a) have any employees earning compensation; (b) except for the Loans and as expressly contemplated by the Operative Documents, incur or contract to incur any indebtedness; (c) engage in any activity other than the execution, delivery and performance of the Operative Documents to which it is a party and activities incidental thereto, as well as ordinary corporate housekeeping activities; (d) except as required to perform its obligation under the Operative Documents to which it is a party, make or agree to make any capital expenditure; (e) create or own any subsidiary; (f) except as required to perform its obligation under the Operative Documents to which it is a party, make any investments; (g) except as required to perform its obligation under the Operative Documents to which it is a party, declare or make any dividend payment or distribution to its shareholders; or (h) enter into any contracts with, incur any material obligation to, or grant any security interest, pledge or lien to, any third party (excluding any contracts entered into in connection with, any payment or other obligation incurred pursuant to, and any liens granted pursuant to, the Operative Documents).

Special Purpose. The Borrower will not: (ai) have any employees earning compensation; (bii) except for the Loans and as expressly contemplated by the Operative Documentshereby, incur or contract to incur any indebtedness; (ciii) engage in any activity other than the execution, delivery and performance of the Operative Documents to which it is a party and activities incidental thereto, as well as ordinary corporate housekeeping activities; (div) except as required to perform its obligation under the Operative Documents to which it is a party, make or agree to make any capital expenditure; (ev) create or own any subsidiary; (fvi) except as required to perform its obligation under the Operative Documents to which it is a party, make any investments; (gvii) except as required to perform its obligation under the Operative Documents to which it is a party, declare or make any dividend payment or distribution to its shareholders; or (hviii) enter into any contracts with, incur any material obligation to, or grant any security interest, pledge or lien to, any third party (excluding any contracts entered into in connection with, any payment or other obligation incurred pursuant to, and any liens granted pursuant to, the Operative Documents).