14Investments Clause Samples
14Investments. The Borrowers will not, nor will they permit any of their Subsidiaries to, make or suffer to exist any Investments (including without limitation, loans and advances to, and other Investments in, Subsidiaries), or commitments therefor, or to become or remain a partner in any partnership or joint venture, except:
(a) Cash Equivalent Investments.
(b) Existing Investments in Subsidiaries and other Investments in existence on the date hereof and described in Schedule 6.14.
(c) Investments constituting Permitted Acquisitions.
(d) Investments constituting non-speculative Rate Management Transactions.
(e) Travel, repair, relocation, entertainment and other analogous advances or reimbursements to management personnel, employees and independent contractors in the ordinary course of business.
(f) Investments comprised of capital contributions (whether in the form of cash, a note, or other assets) to a Subsidiary or other special-purpose entity created solely to engage in a Qualified Receivables Transaction or otherwise resulting from transfers of assets permitted by Section 6.11(d) to such a special-purpose entity.
(g) Investments, loans or advances made by any Borrower in or to any other Borrower or any Guarantor and made by any Guarantor in or to any Borrower or any other Guarantor.
(h) Investments, unsecured loans or advances made by any non-Loan Party in or to any Borrower or any Guarantor, provided that the payment of any such loans shall be subordinated to payment of the Obligations to the written satisfaction of the Administrative Agent or the Required Lenders.
(i) Investments, unsecured loans or advances made by any Borrower or any Guarantor in or to any non-Loan Party; provided, that the aggregate amount of such Investments, when taken together with the Indebtedness permitted under Section 6.11(i), without duplication, shall not exceed $40,000,000 at any time outstanding; provided, further that the aggregate amount of such Investments appearing in Schedule 6.14 as of the Effective Date shall not count against such $40,000,000 allowance.
(j) Investments consisting of bonds purchased by a Subsidiary of the Parent in connection with the IDB Transactions or the exercise by a Subsidiary of the Parent of any purchase option on real Property in connection with the IDB Transactions.
(k) Investments consisting of acquisitions by any Loan Party or Subsidiary of Property transferred, sold or otherwise disposed by another Loan Party or Subsidiary in a transaction perm...
14Investments. The Company shall not, and shall not permit any Subsidiary to, make (i) any additional Investment in Projects Under Development, undeveloped land holdings, Joint Venture Projects and Joint Ventures, Securities Holdings and Mortgages, other than normal recurring maintenance capital expenditures, without the consent of each holder of Notes, (ii) any Investment to acquire new Properties not owned by a Consolidated Party as of the First Amendment Effective Date without the consent of each holder of Notes, or (iii) any additional Investment without the consent of each holder of Notes (except with respect to the Company’s only Sponsored REIT, FSP Monument Circle Corp. and its subsidiary FSP Monument Circle LLC), (x) the Company may extend the maturity of any existing Mortgage loan, and (y) the Company may not increase the principal amount of the existing Mortgage loan or make a new Mortgage loan to such Sponsored REIT without the prior written consent of the Required Holders). Notwithstanding the foregoing, in connection with a Disposition of a Property otherwise permitted hereunder, the Company may retain an interest in such Property in the form of ownership of the Equity Interests in the owner of such Property following the consummation of such Disposition or receive a note so long as (A) at least ninety-five percent (95%) of the consideration for the purchase of such Property is paid in cash, and (B) such Disposition is to a third party that is not an Affiliate of the Company and is pursuant to an arms-length transaction.