Common use of Transactions With Affiliates or Subsidiaries Clause in Contracts

Transactions With Affiliates or Subsidiaries. (a) Borrower shall not enter into any transaction with any Subsidiary or other Affiliate including, without limitation, the purchase, sale, lease or exchange of Property, or the loaning or giving of funds to any Affiliate or any Subsidiary (other than a sale to a special purpose Subsidiary in connection with a Securitization Transaction or other non-recourse sale), unless (i) such Subsidiary or Affiliate is engaged in a business substantially related to the business conducted by Borrower and the transaction is in the ordinary course of and pursuant to the reasonable requirements of Borrower's business and upon terms substantially the same and no less favorable to Borrower as it would obtain in a comparable arm's-length transactions with any Person not an Affiliate or a Subsidiary, and (ii) so long as such transaction is not otherwise prohibited hereunder.

Appears in 3 contracts

Samples: Loan and Security Agreement (Resource America Inc), Loan and Security Agreement (Resource America Inc), Loan and Security Agreement (Fidelity Leasing Inc)

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