Without Bank s prior written consent, Borrower shall not make in any fiscal year capital expenditures or contracts for capital expenditures together aggregating in excess of $500,000.00, except that Borrower can, without Bank's prior written consent, purchase personal property. Nothing in this Section shall be deemed to extend the duration of the Loans beyond the times noted in Section 14 hereof.
Without Bank s prior written consent, Debtor will not change its name, mailing address, the nature of its business, or its legal structure, or, if Debtor is an issuer of any Collateral, issue, cause, permit or suffer any stock or other securities to be issued, except subject to this Agreement, and delivered to Bank hereunder.
Without Bank s prior written consent, Borrower shall not incur, assume, or suffer to exist, any debt other than (i) the Obligations; (ii) indebtedness and liabilities of Borrower that have been subordinated to the Obligations by written agreement in form and substance acceptable to Bank; (iii) accounts payable to trade creditors for goods or services that are not aged more than ninety (90) days from the billing date and current operating liabilities (other than for borrowed money) that are not more than ninety (90) days past due, in each case incurred in the ordinary course of business, as presently conducted, and paid within the specified time, unless contested in good faith and by appropriate proceedings; and (iv) debt of the Borrower secured by purchase-money liens that are Permitted Liens.
Examples of Without Bank in a sentence
Without Bank One's prior written consent, which consent shall not be unreasonably withheld, no Related Person shall make any payment on the Subordinated Debt prior to the stated maturity thereof; provided that the Related Persons may pay interest on the Subordinated Debt without Bank One's consent so long as no Default or Event of Default shall have occurred and be continuing.
No Modification of the Voting Trust Agreement Without Bank Consent......
Without Bank s prior written consent, grantor will not partition or subdivide the Property.
No Modification of the Voting Trust Agreement Without Bank Consent...........................
Without Bank s consent, which shall not be unreasonably withheld, (a) sell, transfer, pledge or assign any shares of stock or other ownership interests in Borrower or any of its subsidiaries or (b) execute or agree to any further negative pledges of such shares of stock or other ownership interests in Borrower or any of its subsidiaries.
More Definitions of Without Bank
Without Bank s Prior written consent, Borrower shall not declare or pay any dividends; or purchase, redeem, retire, or otherwise acquire for value any of its capital stock now or hereafter outstanding; or make any distribution of assets to its shareholders as such whether in cash, assets, or in obligations of the Borrower; or allocate or otherwise set apart any sum for the payment of any dividend or distribution on, or for the purchase, redemption, or retirement of any shares of its capital stock; or make any other distribution by reduction of capital or otherwise in respect of any shares of its capital stock, except that the Borrower (1) may declare and deliver dividends and make distributions payable solely in common stock of the Borrower; (2) may purchase or otherwise acquire shares of its capital stock by exchange for or out of the proceeds received from a substantially concurrent issue of new shares of its capital stock; (3) may declare and deliver dividends or make distributions to Borrower's shareholders to permit the shareholders to pay federal and, as applicable, state and local income taxes then due and owing to the extent attributable to the shareholders' ownership of Borrower's stock.; and (4) may distribute up to $5,000,000 representing the cumulative Adjustment Accounts as defined by the Internal Revenue Service upon the closing of Borrower's initial public offering.
Without Bank s prior written consent, Borrower shall not create, incur, assume, or CREDIT AGREEMENT - 38 suffer to exist any Lien upon any of its property or assets, now owned or hereafter acquired, except for Permitted Liens.
Without Bank s prior written consent, which consent shall not be unreasonably withheld, Borrower shall not purchase any materials, equipment, furnishings or fixtures to be installed on the Property under any agreement where the seller reserves title or the right of removal or repossession after such items are installed on the Property.
Without Bank s prior written consent, Borrower shall not create, incur, assume, or suffer to exist, or permit any Subsidiary to create, incur, assume, or suffer to exist, any Lien upon any of its property or assets, now owned or hereafter acquired, except for the following ("Permitted Liens"):
Without Bank s prior written consent, Borrower shall not incur, assume, or suffer to exist, or permit any Subsidiary to incur, assume, or suffer to exist, any debt other than (i) the Obligations; (ii) indebtedness and liabilities of Borrower identified in EXHIBIT 4.13; (iii) indebtedness and liabilities of Borrower that have been subordinated to the Obligations by written agreement in form and substance acceptable to Bank; (iv) accounts payable to trade creditors for goods or services that are incurred in the ordinary course of business, as presently conducted, and paid within a reasonable time, unless contested in good faith and by appropriate proceedings; and (vi) debt of the Borrower secured by purchase-money liens that are Permitted Liens.
Without Bank s prior written consent, Borrower shall not create, incur, assume, or suffer to exist, or permit any Subsidiary to create, incur, assume, or suffer to exist, any obligation as lessee for the rental or hire of any real or personal property, except: (1) leases existing on the date of this Agreement and any extensions or renewals thereof; (2) leases with Bank or an affiliate of Bank; and (3) leases (other than capital leases) that do not in the aggregate require the Borrower and its Subsidiaries on a consolidated basis to make payments (including taxes, insurance, maintenance, and similar expenses that the Borrower or any Subsidiary is required to pay under the terms of any lease) in any fiscal year of the Borrower in excess of One Hundred Thousand Dollars ($100,000).
Without Bank s prior written consent, Borrower shall not declare or pay any dividends; or purchase, redeem, retire, or otherwise acquire for value any of its capital stock now or hereafter outstanding; or make any distribution of assets to its shareholders as such whether in cash, assets, or in obligations of the Borrower; or allocate or otherwise set apart any sum for the payment of any dividend or distribution on, or for the purchase, redemption, or retirement of any shares of its capital stock; or make any other distribution by reduction of capital or otherwise in respect of any shares of its capital stock, except that the Borrower (1) may declare and deliver dividends and make distributions payable solely in common stock of the Borrower; and (2) may purchase or otherwise acquire shares of its capital stock by exchange for or out of the proceeds received from a substantially concurrent issue of new shares of its capital stock.