Permitted Intercompany Loans means (i) the Hybrid Loans, (ii) a downstream intercompany loan among the Borrower and the Japanese Guarantors which satisfies the Subordination Requirements, (iii) an upstream or sidestream intercompany loan among the Borrower and the Japanese Guarantors, (iv) an intercompany loan extended by a US Guarantor to the Borrower or a Japan Guarantor which satisfies the Subordination Requirement, (v) the Closing Date Intercompany Loans and (vi) an intercompany loan extended by a US Guarantor to another US Guarantor.
Permitted Intercompany Loans loans made by an Obligor to a non-Obligor Subsidiary of Borrower so long as (i) no Default or Event of Default exists immediately before and after giving effect thereto and (ii) the aggregate outstanding amount thereof at no time exceeds $20,000,000. Permitted Lien: as defined in Section 10.2.2.
Permitted Intercompany Loans means (a) intercompany loans by a U.S. Obligor to another U.S. Obligor, (b) intercompany loans by a Canadian Obligor to another Canadian Obligor, (c) intercompany loans by a U.S. Obligor to a Canadian Obligor in an amount not to exceed $500,000 at any time and so long as immediately before and after giving effect to such loans by a U.S. Obligor to a Canadian Obligor, and no Default or Event of Default exists, and (d) intercompany loans by a Canadian Obligor to a U.S. Obligor.
Examples of Permitted Intercompany Loans in a sentence
Notwithstanding the foregoing, the Borrower shall not permit to exist any Lien on any of the shares of any Material Subsidiary owned by another Loan Party, other than a Lien in favour of a Loan Party or in favour of any other Subsidiary of the Borrower which has not incurred and will not incur Indebtedness for Borrowed Money other than Permitted Intercompany Loans.
Make any loans or other advances of money to any Person, other than (a) for salary, travel advances, advances against commissions and other similar advances to employees and extensions of trade credit in the ordinary course of business, (b) deposits with financial institutions permitted under this Agreement, (c) prepaid expenses, and (d) Permitted Intercompany Loans.
The holder of a parade/special event permit shall agree in writing to indemnify and hold harmless the Township, its servants, agents and employees from any claims caused by the activity covered in such permit.
The Trustee or Collateral Agent shall hold and be entitled to enforce all such Permitted Intercompany Loans and Permitted Intercompany Notes, as secured by such reprioritized first, prior and senior Liens, as part of the Priority Notes Collateral and as first and prior collateral security for the Priority Note Obligations.
For the avoidance of doubt, the SAFStor Valuation will account for the outstanding amount of any Permitted Intercompany Loans, as applicable.
More Definitions of Permitted Intercompany Loans
Permitted Intercompany Loans means (i) intercompany loans outstanding as of the Closing Date, as disclosed in the Schedule as of the Closing Date, together with any interest thereon accrued in the ordinary course of business, (ii) additional intercompany loans not to exceed $750,000 in the aggregate per fiscal year, net of any intercompany loans repaid during such fiscal year, and (iii) other intercompany loans which are subject to a subordination agreement in favor of Bank on terms and conditions acceptable to Bank in its sole discretion.
Permitted Intercompany Loans means loans in cash made:
Permitted Intercompany Loans any loan or advance made by the Borrower to the Sponsor, or any Person who is incorporated or resides in the Country directly owning Share Capital of the Borrower that (i) is made with funds available for the making of Restricted Payments, (ii) does not impose any liability on the Borrower other than taxes due in connection with interest or other charges payable to the Borrower in connection therewith and for the payment of which the Borrower has established cash reserves acceptable to the Senior Lenders, and (iii) is made following the occurrence of the Change of Corporate Form;
Permitted Intercompany Loans means advances and accounts between one or more of the Company and any of its Subsidiaries, which shall be on commercially reasonable terms.
Permitted Intercompany Loans means contributions of capital to or from, or intercompany loans or receivables among, any of the Loan Parties.
Permitted Intercompany Loans means loans made by (a) a Loan Party to another Loan Party (other than the Parent), (b) a non-Loan Party to another non-Loan Party, (c) a non-Loan Party to a Loan Party, so long as the parties thereto are party to the Intercompany Subordination Agreement, and (d) a Loan Party to a non-Loan Party so long as (i) the aggregate amount of all such loans made by the Loan Parties does not exceed $100,000 at any time outstanding, (ii) no Default or Event of Default has occurred and is continuing either before or after giving effect to such loan, and (iii) the Borrowers have Liquidity of not less than $1,000,000 after giving effect to such loan.
Permitted Intercompany Loans collectively, (a) any intercompany loans in existence on the Closing Date and identified on Schedule 8.2.3(b), and (b) intercompany loans and advances made by any Borrower to another Borrower or any Subsidiary of any Borrower or by any Subsidiary to any Borrower, provided that (i) each Borrower and each Subsidiary shall record all such intercompany transactions on its books and records in a manner reasonably satisfactory to Agents, (ii) the obligations of any recipient of any such intercompany loans or advances which is a Borrower or Subsidiary which has guarantied any of the Obligations shall be subordinated to the applicable Obligations of such Borrower or such guarantied Obligations in a manner reasonably satisfactory to Agents, (iii) at the time any such intercompany loan or advance is made and after giving effect thereto, the applicable Borrower making the loan or advance shall be Solvent and the applicable recipient of the proceeds of the intercompany loan or advance shall not have suffered a Bankruptcy Event, (iv) no Default or Event of Default would occur and be continuing after giving effect to any such proposed intercompany loan or advance, (v) all such intercompany loans or advances shall at all times be unsecured, (vi) Administrative Agent shall not have reasonably determined that any such intercompany loan could result in any material adverse legal consequences to any Agent, Bank or any Lender or could have any material adverse effect whatsoever on the enforceability of any of the Loan Documents, (vii) no such intercompany loan or advance shall be illegal or otherwise violate any law applicable to Borrowers and their Subsidiaries, (viii) the aggregate principal amount of all such outstanding loans and advances described in this clause (b) which are made by Canadian Borrower to Domestic Borrower shall not exceed $1,500,000 at any time, and (ix) the aggregate principal amount of all such outstanding loans and advances described in this clause (b) (other than clause (b)(viii)) shall not exceed at any time the sum of (A) $250,000 plus (B) any additional amounts to be funded by any Borrower to Channell Australia approved in advance by Administrative Agent in its reasonable credit judgment.