Common use of Accommodation Obligations Clause in Contracts

Accommodation Obligations. No Borrower shall, and Anixter shall not permit any Subsidiary of Anixter to, directly or indirectly, create or become or be liable with respect to any Accommodation Obligation involving Indebtedness of AXE or any Affiliate of AXE which is not a Subsidiary of Anixter. In addition, no Borrower shall, and Anixter shall not permit any Subsidiary to, directly or indirectly, create or become or be liable with respect to any Accommodation Obligation except: (a) guaranties resulting from endorsement of negotiable instruments for collection in the ordinary course of business; (b) Accommodation Obligations arising in connection with the Transaction Documents; (c) Accommodation Obligations by Anixter with respect to lessees’ obligations to third-party lessors under leases of Property purchased from Anixter and its Subsidiaries, in an aggregate amount not to exceed US$5,000,000; (d) Accommodation Obligations of Anixter and its Subsidiaries arising in connection with Hedging Contracts entered into with any of the Lenders; and (e) other Accommodation Obligations by Anixter and its Subsidiaries in an aggregate amount outstanding at any time not to exceed US$175,000,000; provided, however, that no such Accommodation Obligations shall be entered into or incurred after the occurrence and during the continuance of an Event of Default or Default.

Accommodation Obligations. No Borrower shall, and Anixter shall not permit any Subsidiary of Anixter to, directly or indirectly, create or become or be liable with respect to any Accommodation Obligation involving Indebtedness of AXE or any Affiliate of AXE which is not a Subsidiary of Anixter. In addition, no Borrower shall, and Anixter shall not permit any Subsidiary to, directly or indirectly, create or become or be liable with respect to any Accommodation Obligation except: (ai) guaranties resulting from endorsement of negotiable instruments for collection in the ordinary course of business; (bii) Accommodation Obligations arising in connection with the Transaction Documents; (ciii) Accommodation Obligations by Anixter with respect to lessees’ obligations to third-party lessors under leases of Property purchased from Anixter and its Subsidiaries, in an aggregate amount not to exceed US$5,000,000; (div) Accommodation Obligations of Anixter and its Subsidiaries arising in connection with Hedging Contracts entered into with any of the Lenders; and (ev) other Accommodation Obligations by Anixter and its Subsidiaries in an aggregate amount outstanding at any time not to exceed US$175,000,000150,000,000; provided, however, that no such Accommodation Obligations shall be entered into or incurred after the occurrence and during the continuance of an Event of Default or Default.

Accommodation Obligations. No Borrower shall, and Anixter shall not permit any Subsidiary of Anixter to, directly or indirectly, create or become or be liable with respect to any Accommodation Obligation involving Indebtedness of AXE or any Affiliate of AXE which is not a Subsidiary of Anixter. In addition, no Borrower shall, and Anixter shall not permit any Subsidiary to, directly or indirectly, create or become or be liable with respect to any Accommodation Obligation except: (ai) guaranties resulting from endorsement of negotiable instruments for collection in the ordinary course of business; (bii) Accommodation Obligations arising in connection with the Transaction Documents; (ciii) Accommodation Obligations of Anixter arising in connection with the proposed issuance of Canadian rate reset bonds by a Canadian Subsidiary of Anixter in an aggregate principal amount not to exceed the Dollar Equivalent of $50,000,000; (iv) Accommodation Obligations by Anixter with respect to lessees’ ' obligations to third-party lessors under leases of Property purchased from Anixter and its Subsidiaries, in an aggregate amount not to exceed US$$5,000,000; (dv) Accommodation Obligations of Anixter and its Subsidiaries arising in connection with Hedging Contracts entered into with any of the Lenders; and (evi) other Other Accommodation Obligations by Anixter and its Subsidiaries in an aggregate amount outstanding at any time not to exceed US$175,000,000the Dollar Equivalent of Forty Million Dollars ($40,000,000), except that such Accommodation Obligations may exceed the Dollar Equivalent of $40,000,000 provided that at all times when such Accommodation Obligations exceed $40,000,000, the Borrowers maintain unused Commitments hereunder at least equal to the amount by which such Accommodation Obligations exceed $40,000,000; provided, however, that no such Accommodation Obligations shall be entered into or incurred after the occurrence and during the continuance of an Event of Default or Potential Event of Default.

Accommodation Obligations. No Borrower shall, and Anixter shall not permit any Subsidiary of Anixter to, directly or indirectly, create or become or be liable with respect to any Accommodation Obligation involving Indebtedness of AXE or any Affiliate of AXE which is not a Subsidiary of Anixter. In addition, no Borrower shall, and Anixter shall not permit any Subsidiary to, directly or indirectly, create or become or be liable with respect to any Accommodation Obligation except: (ai) guaranties resulting from endorsement of negotiable instruments for collection in the ordinary course of business; (bii) Accommodation Obligations arising in connection with the Transaction Documents; (ciii) Accommodation Obligations by Anixter with respect to lessees’ ' obligations to third-party lessors under leases of Property purchased from Anixter and its Subsidiaries, in an aggregate amount not to exceed US$5,000,000; (div) Accommodation Obligations of Anixter and its Subsidiaries arising in connection with Hedging Contracts entered into with any of the Lenders; and (ev) other Accommodation Obligations by Anixter and its Subsidiaries in an aggregate amount outstanding at any time not to exceed the Dollar Equivalent of Seventy Five Million Dollars (US$175,000,00075,000,000); provided, however, that no such Accommodation Obligations shall be entered into or incurred after the occurrence and during the continuance of an Event of Default or Default.