Common use of Transaction with Affiliates Clause in Contracts

Transaction with Affiliates. The Borrower will not enter into any transaction, including without limitation any purchase, sale, lease or exchange of property or the rendering of any service, with any Affiliate unless such transaction is (a) otherwise permitted under this Agreement, (b) in the ordinary course of the Borrower’s business and (c) upon fair and reasonable terms no less favorable to the Borrower than it would obtain in a comparable arm’s length transaction with a Person which is not an Affiliate, or make a payment that is not otherwise permitted by this Section to any Affiliate.

Appears in 3 contracts

Samples: Loan and Security Agreement (Medallion Financial Corp), Loan and Security Agreement (Medallion Financial Corp), Loan and Security Agreement (Medallion Financial Corp)

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Transaction with Affiliates. The Borrower will not enter into any transaction, including without limitation any purchase, sale, lease or exchange of property or the rendering of any service, with any Affiliate unless such transaction is (a) otherwise permitted under this Loan Agreement, (b) in the ordinary course of the Borrower’s business and (c) upon fair and reasonable terms no less favorable to the Borrower than it would obtain in a comparable arm’s length transaction with a Person which is not an Affiliate, or make a payment that is not otherwise permitted by this Section 7.14 to any Affiliate.

Appears in 2 contracts

Samples: Loan and Security Agreement (Medallion Financial Corp), Loan and Security Agreement (Medallion Financial Corp)

Transaction with Affiliates. The Borrower will shall not enter into any transaction, transaction (including without limitation any limitation, the purchase, sale, lease sale or exchange of any property or the rendering of any service, ) with any Affiliate unless such transaction is (a) otherwise permitted under this Agreement, (b) Affiliates except transactions in the ordinary course of business and pursuant to the reasonable requirements of the Borrower’s 's business and (c) upon fair and reasonable terms no less favorable to the Borrower than it the Borrower would obtain in a comparable arm’s arms-length transaction with a Person which is not an Affiliate; provided, or make a payment however, that is not otherwise permitted by nothing in this Section to 6.12 shall permit any Affiliatetransaction prohibited by the other provisions of this Agreement.

Appears in 1 contract

Samples: Credit Agreement (Fieldpoint Petroleum Corp)

Transaction with Affiliates. The Borrower will shall not enter into any transaction, including without limitation any purchase, sale, lease or exchange of property or the rendering material transaction of any service, kind with any Affiliate unless such transaction is (a) otherwise permitted under this Agreementof Borrower, (b) whether or not in the ordinary course of the Borrower’s business and (c) upon business, other than on fair and reasonable terms no less substantially as favorable to Borrower as would be obtainable by Borrower at the Borrower than it would obtain time in a comparable arm’s length transaction with a Person which is not other than an Affiliate, or make a payment that is not otherwise permitted by this Section to any Affiliate.

Appears in 1 contract

Samples: Loan and Security Agreement (Ruthigen, Inc.)

Transaction with Affiliates. The Borrower will not enter into any transaction, including without limitation any purchase, sale, lease or exchange of property or the rendering of any service, with any Affiliate unless such transaction is (a) otherwise permitted under this Loan Agreement, (b) in the ordinary course of the Borrower’s 's business and (c) upon fair and reasonable terms no less favorable to the Borrower than it would obtain in a comparable arm’s 's length transaction with a Person which is not an Affiliate, or make a payment that is not otherwise permitted by this Section 7.14 to any Affiliate.

Appears in 1 contract

Samples: Loan and Security Agreement (Medallion Financial Corp)

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Transaction with Affiliates. The Borrower will shall not enter into any transaction, including without limitation any purchase, sale, lease or exchange of property or the rendering material transaction of any service, kind with any Affiliate unless such transaction is (a) otherwise permitted under this Agreementof Borrower, (b) other than in the ordinary course of the Borrower’s business and (c) upon on fair and reasonable terms no less substantially as favorable to Borrower as would be obtainable by Borrower at the Borrower than it would obtain time in a comparable arm’s length transaction with a Person which is not other than an Affiliate, or make a payment that is not otherwise permitted by this Section to any Affiliate.

Appears in 1 contract

Samples: Loan and Security Agreement (Phaserx, Inc.)

Transaction with Affiliates. The Borrower will not enter into any transaction---------------------------- transaction including, including without limitation any limitation, the purchase, sale, lease sale or exchange of property Lots or the rendering of any service, service with any Affiliate unless such transaction is (a) otherwise permitted under this Agreement, (b) affiliate except in the ordinary course of of, and pursuant to the reasonable requirement of, Borrower’s 's business and (c) upon fair and reasonable terms no less favorable to the Borrower than it would obtain be obtained in a comparable arm’s arm's-length transaction with a Person which is not an Affiliate, or make a payment that is not otherwise permitted by this Section to any Affiliateaffiliate.

Appears in 1 contract

Samples: Loan and Security Agreement (Mego Financial Corp)

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