Common use of Accommodation Obligations Clause in Contracts

Accommodation Obligations. The Loan Parties shall not, directly or indirectly, create or become or be liable with respect to any Accommodation Obligation, except (i) recourse obligations resulting from endorsement of negotiable instruments for collection in the ordinary course of business, (ii) the Farm Bureau Guaranty, (iii) lease obligations in connection with office space in New York, New York where Stellex and Mentmore Holding Corporation will be joint tenants, (iv) Accommodation Obligations by one Loan Party on behalf of another Loan Party (other than Paragon until the Farm Bureau Consent has been delivered to the Administrative Agent) but only in connection with Indebtedness permitted pursuant to Section 9.01(i), (ii), (iii) (iv), (v), (vi), (vii), (viii), (x) or (xi), and (v) Accommodation Obligations by one Loan Party that is the acquiror or the target in connection with a Permitted Acquisition on behalf of another Loan Party that is the acquiror or the target in connection with such Permitted Acquisition but only in connection with Indebtedness permitted pursuant to Section 9.01(xiii) or (xiv).

Accommodation Obligations. The Loan Parties shall not, directly or indirectly, create or become or be liable with respect to any Accommodation Obligation, except (i) recourse obligations resulting from endorsement of negotiable instruments for collection in the ordinary course of business, (ii) the Farm Bureau Guaranty, (iii) lease obligations in connection with office space in New York, New York where Stellex the Borrower and Mentmore Holding Holdings Corporation will be joint tenants, (iv) Accommodation Obligations by one Loan Party on behalf of another Loan Party (other than Paragon until the Farm Bureau Consent has been delivered to the Administrative Agent) but only in connection with Indebtedness permitted pursuant to Section 9.01(i), (ii), (iii) (iv), (v), (vi), (vii), (viii), (x), (xi), (xii), (xiv) or (xixv), and (v) Accommodation Obligations by one Loan Party that is the acquiror or the target in connection with a Permitted Acquisition on behalf of another Loan Party that is the acquiror or the target in connection with such Permitted Acquisition but only in connection with Indebtedness permitted pursuant to Section 9.01(xiii) or (xiv).