No Borrower definition
No Borrower has made any loans or advances to any Affiliate or other Person except for (i) advances authorized hereunder to employees, officers and directors of such Borrower for travel, salaries or bonuses and other expenses arising in the ordinary course of such Borrower's business, and (ii) loans by AMCON permitted pursuant to subsection 13(f) hereof.
No Borrower and similar indefinite references means neither the Borrower nor the Co-Borrower).
No Borrower has given any written or oral notice to the Environmental Protection Agency ("EPA") or any state or local agency with regard to any actual or imminently threatened removal, storage, transportation, spill, release or discharge of hazardous or toxic wastes, substances or petroleum products either (a) on properties owned or leased by such Borrower OR (b) otherwise in connection with the conduct of its business and operations.
Examples of No Borrower in a sentence
No Borrower will, directly or indirectly, pay any remuneration or other thing of value, whether by way of additional interest, fee or otherwise, to any Lender (in its capacity as a Lender hereunder) as consideration for agreement by such Lender with any modification of any Loan Documents, unless such remuneration or value is concurrently paid, on the same terms, on a Pro Rata basis to all Lenders providing their consent.
No Borrower has agreed or consented to cause or permit in the future (upon the happening of a contingency or otherwise) any of its property, whether now owned or hereafter acquired, to be subject to a Lien which is not a Permitted Encumbrance.
No Borrower or Subsidiary is engaged, principally or as one of its important activities, in the business of extending credit for the purpose of purchasing or carrying any Margin Stock.
No Borrower is engaged, nor will it engage, principally or as one of its important activities, in the business of extending credit for the purpose of “purchasing” or “carrying” any “margin stock” within the respective meanings of each of the quoted terms under Regulation U of the Board of Governors of the Federal Reserve System as now and from time to time hereafter in effect.
No Borrower or Borrower Principal is (i) the subject of or a party to (other than as a creditor) any completed or pending bankruptcy, reorganization or insolvency proceeding, or (ii) the subject of any judgment unsatisfied of record or docketed in any court located in the United States.
More Definitions of No Borrower
No Borrower shall cause or permit a Release of any Hazardous Material on, at, in, under, above, to, from or about any of the Real Estate where such Release would violate, or form the basis for Environmental Liabilities under, any Environmental Laws or Environmental Permits, other than such violations or Environmental Liabilities which could not reasonably be expected to have a Material Adverse Effect.
No Borrower has made any material change in the historical accounts payable practices from those in effect immediately prior to the date hereof.
No Borrower nor any Subsidiary shall (i) directly or indirectly declare or make, or incur any liability to make, any Distribution, except Permitted Distributions, (ii) make any change in its capital structure which could have a Material Adverse Effect or (iii) without the consent of Agent, make any Restricted Investment, except for Restricted Investments up to $1,000,000 in the aggregate at any time outstanding for all Borrowers and all Subsidiaries since the Closing Date and with respect to which Agent receives a perfected security interest in any property received in connection with such Restricted Investment contemporaneously with the applicable Borrower's or its Subsidiary's receipt of such property.
No Borrower s Inventory is subject to any license agreement relating to patents, trademarks or copyrights which could, directly or indirectly, preclude or render impracticable the realization by Lender of the value of such Inventory.
No Borrower has not generated, used, stored, treated, transported, manufactured, handled, produced or disposed of any Hazardous Materials, on or off its premises (whether or not owned by it) in any manner which at any time violates in any material respect any Environmental Law or any license, permit, certificate, approval or similar authorization thereunder and the operations of each Borrower comply in all material respects with all Environmental Laws and all licenses, permits, certificates, approvals and similar authorizations thereunder. There has been no investigation, proceeding, complaint, order, directive, claim, citation or notice by any governmental authority or any other Person, nor is any pending or to the best of each Borrower's knowledge threatened with respect to any non-compliance with or violation of the requirements of any Environmental Law by a Borrower or the release, spill or discharge, threatened or actual, of any Hazardous Materials or the generation, use, storage, treatment, transportation, manufacture, handling, production or disposal of any Hazardous Materials or any other environmental, health or safety matter, which affects a Borrower or its business, operations or assets or any properties at which a Borrower has transported, stored or disposed of any Hazardous Materials. No Borrower has any material liability (contingent or otherwise) in connection with a release, spill or discharge, threatened or actual, of any Hazardous Materials or the generation, use, storage, treatment, transportation, manufacture, handling, production or disposal of any Hazardous Materials.
No Borrower has knowledge of (i) the presence, except in compliance with Applicable Environmental Laws, of any Hazardous Substances (as defined below) on any property owned, leased or otherwise controlled by any Borrower (collectively, the "Property"); (ii) any spills, releases, discharges, or disposal of Hazardous Substances that have occurred or are presently occurring on or onto any of the Property; (iii) the presence on any of the Property of underground or above-ground storage tanks or pipelines which are required to be licensed by any local, state or federal agency; (iv) any spills or disposal of Hazardous Substances that have occurred or are occurring off the Property as a result of any construction on or operation and use of the Property; (v) any failure by any Borrower to comply with any Applicable Environmental Laws (as defined below); (vi) any notices related to any Borrower or any of the Property claiming a violation of any Applicable Environmental Laws, or the commencement of any action or proceeding against any Borrower or related to any of the Property alleging a violation of Applicable Environmental Laws; (vii) any notices related to any Borrower or any of the Property requiring compliance with Applicable Environmental Laws, or demanding payment or contribution for injury to the environment or human health; or (viii) any outstanding notices or citations relating to violations by any former owner or operator of any of the Property. For the purposes of this Agreement, (A) "Hazardous Substances" means any substance or material defined or designated as a hazardous or toxic waste, material or substance, or other similar term, by any federal, state, or local environmental statute, regulation, or ordinance presently in effect, including, without limitation, asbestos in any form, urea formaldehyde foam insulation, petroleum products, and polychlorinated biphenyls; and (B) "Applicable Environmental Laws" means any and all applicable local, state, and federal environmental laws, regulations, ordinances, and administrative and judicial orders relating to the generation, recycling, reuse, sale, storage, handling, transport, or disposal of any Hazardous Substances.
No Borrower has any Subsidiaries nor any current plans to form or acquire any Subsidiary.