7Investments Clause Samples

7Investments. Make any Investment in any other Person, except (and, in the case of Cash Investment, subject to the requirements of Section 2.13 and Section 2.14 of this Agreement): (a) extensions of trade credit and advances to non-operators under operating agreements in the ordinary course of business; (b) Investments in Cash Equivalents; (c) Hedging Agreements permitted by Section 6.14; (d) subject to the provisions of Section 6.6, Investments constituting Permitted Capital Expenditures; (e) Investments received by Co-Borrower or Borrower in connection with workouts with, or bankruptcy, insolvency or other similar proceedings with respect to, customers, working interest owners, other industry partners or any other Person; (f) in addition to Investments otherwise expressly permitted by this Section 6.7, Investments by Co-Borrower or Borrower in an aggregate amount (valued at cost) not to exceed $1,000,000 during the term of this Agreement; (g) other Investments so long as such Investment is funded by one or more equity contributions; and (h) additional Cash Investments, so long as (i) no Event of Default shall have occurred and be continuing and (ii) the Collateral Coverage Ratio before and after such Investment is not less than 1.50:1.00.

7Investments. No Credit Party shall, nor shall it permit any of its Subsidiaries to, directly or indirectly, make any Acquisition or make or own any Investment (including if made as an Acquisition) in any Person, including any Joint Venture, except: ​

7Investments. Borrower shall not, nor shall it permit any of its Subsidiaries to, directly or indirectly, make or own any Investment in any Person, including without limitation any Joint Venture, except Permitted Investments. Notwithstanding the foregoing, in no event shall any Loan Party make any Investment which results in the making of any Restricted Junior Payment not otherwise permitted under the terms of Section 6.5.

7Investments. No Note Party shall, nor shall it permit any of its Subsidiaries to, directly or indirectly, make or own any Investment (including if made as an Acquisition) in any Person, including any Joint Venture, except: (a) Investments in Cash and Cash Equivalents; (b) equity Investments owned as of the Closing Date in any Subsidiary and Investments made after the Closing Date in the Company or any Wholly-Owned Guarantor Subsidiaries of Company; (c) Investments made by the Company or any of its Subsidiaries (i) in any Securities voluntarily accepted in satisfaction or partial satisfaction thereof from financially troubled account debtors, and (ii) deposits, prepayments and other credits to suppliers made in the ordinary course of business consistent with the past practices of Company and its Subsidiaries; (d) intercompany loans to the extent permitted under Section 6.1(b); (e) Investments in Company or any of its Guarantor Subsidiaries for purposes of making capital expenditures in respect of fixed assets directly owned by Company or any of its Guarantor Subsidiaries in an aggregate amount not to exceed $3,000,000 (or such higher amount agreed to by Collateral Agent in its sole discretion) in any Fiscal Year; provided that immediately before and immediately after giving effect to such Investment, Consolidated Liquidity is not less than $15,000,000. ​ ​ (f) Permitted Acquisitions, the aggregate Acquisition Consideration for which constitutes less than $2,500,000 in the aggregate from the Closing Date to the date of determination; and (g) Investments described in Schedule 6.7. Notwithstanding anything in this Section 6.7 to the contrary, in no event shall any Note Party make any Investment that results in or facilitates in any manner any Restricted Junior Payment not otherwise permitted under the terms of Section 6.5.

7Investments. No Note Party shall, nor shall it permit any of its Subsidiaries to, directly or indirectly, make or own any Investment (including if made as an Acquisition) in any Person, including any Joint Venture, except: (a) Investments in Cash and Cash Equivalents; (b) equity Investments owned as of the Closing Date in any Subsidiary and Investments made after the Closing Date in any Wholly-Owned Guarantor Subsidiaries of Company; (c) Investments (i) in any Securities voluntarily accepted in satisfaction or partial satisfaction thereof from financially troubled account debtors, and (ii) deposits, prepayments and other credits to suppliers made in the ordinary course of business consistent with the past practices of Company and its Subsidiaries; (d) intercompany loan to the extent permitted under Section 6.1(b); (e) Investments in Company or any of its Guarantor Subsidiaries for purposes of making Consolidated Capital Expenditures permitted by Section 6.8(e) in respect of fixed assets directly owned by Company or any of its Guarantor Subsidiaries; (f) loans and advances to employees of Company and its Subsidiaries (i) made in the ordinary course of business and described on Schedule 6.7, and (ii) any refinancings of such loan after the Closing Date in an aggregate principal amount not to exceed $250,000 at any time outstanding; (g) Permitted Acquisitions, the aggregate Acquisition Consideration for which constitutes less than $2,500,000 in the aggregate from the Closing Date to the date of determination; (h) Investments described in Schedule 6.7; and (i) Investments made by any Note Party or any of its Subsidiaries in another Note Party or any of its Subsidiaries directly from the proceeds of any CARES Act Indebtedness so long as such proceeds are applied by the Note Parties and their Subsidiaries for the CARES Act Permitted Purposes. Notwithstanding anything in this Section 6.7 to the contrary, in no event shall any Note Party make any Investment that results in or facilitates in any manner any Restricted Junior Payment not otherwise permitted under the terms of Section 6.5.

7Investments. No DIP Note Party shall, nor shall it permit any of its Subsidiaries to, directly or indirectly, make or own any Investment (including if made as an Acquisition) in any Person, including any Joint Venture, except: (a) Investments in Cash and Cash Equivalents; (b) equity Investments owned as of the Closing Date in any Subsidiary; (c) [reserved]; ​ ​ (d) intercompany loan to the extent permitted under Section 6.1(b); (e) [reserved]; (f) loans and advances to employees of Company and its Subsidiaries extended prior to the Petition Date, made in the ordinary course of business and described on Schedule 6.7; (g) [reserved] (h) Investments made prior to the Petition Date and described in Schedule 6.7; and (i) [reserved]. Notwithstanding anything in this Section 6.7 to the contrary, in no event shall any DIP Note Party make any Investment that results in or facilitates in any manner any Restricted Junior Payment.