ADVANCES, INVESTMENTS, LOANS AND GUARANTY OBLIGATIONS. The Borrowers will not, and will not permit any of the Material Subsidiaries to, (1) lend money or credit or make advances in the nature of credit to any person, other than trade credit extended in the ordinary course of business of such Credit Parties, (2) purchase or acquire any stock, obligations or securities of, or any other interest in, or make any capital contribution to, or other investment in, any person, (3) create, acquire or hold any Material Subsidiary, (4) be or become a party to any joint venture, member of a limited liability company or partner of a partnership, or (5) be or become obligated under any Guaranty Obligations (other than those created in favor of the Lenders pursuant to the Credit Documents), except that the following shall be permitted under this section 11.5:
(a) the Borrowers or any of their respective Material Subsidiaries may invest in cash and Cash Equivalents;
(b) any endorsement of a check or other medium of payment for deposit or collection, or any similar transaction in the normal course of business;
(c) the Borrowers and their respective Material Subsidiaries may acquire and hold receivables owing to them in the ordinary course of business and payable or dischargeable in accordance with customary trade terms (including receivables evidenced by a promissory note executed after the account debtor in question fails to make payments when due);
(d) loans and advances to employees for business-related travel expenses, moving expenses, costs of replacement homes, business machines or supplies, automobiles and other similar expenses, in each case incurred in the ordinary course of business and consistent with past practice;
(e) the existing loans, advances, investments and guarantees described in Annex V hereto;
(f) investments of the Borrowers and their respective Material Subsidiaries in Hedge Agreements that comply with section 10.10;
(g) existing investments in any Material Subsidiaries shall be permitted, and the creation and holding of any Wholly-Owned Material Subsidiary and any additional investments in any current or future Wholly-Owned Material Subsidiary, so long as the Borrowers comply with section 10.12(b) in connection with the creation of any such Subsidiary and with section 10.12(a) by causing the Subsidiaries referenced therein to execute and deliver a Guaranty, or pledge its capital stock to the extent permitted by section 10.12(b);
(h) intercompany loans and advances permitted by section 11.4(d);
(i) the A...
ADVANCES, INVESTMENTS, LOANS AND GUARANTY OBLIGATIONS. The Borrower will not, and will not permit any of its Subsidiaries to, (1) lend money or credit or make advances to any person, (2) purchase or acquire any stock, obligations or securities of, or any other interest in, or make any capital contribution to, or other investment in, any person, (3) create, acquire or hold any Subsidiary, (4) be or become a party to any joint venture, member of a limited liability company or partner of a partnership, or (5) be or become obligated under any Guaranty Obligations (other than those created in favor of the Lenders pursuant to the Credit Documents), EXCEPT:
(a) the Borrower or any of its Subsidiaries may invest in cash and Cash Equivalents;
(b) any endorsement of a check or other medium of payment for deposit or collection, or any similar transaction in the normal course of business;
ADVANCES, INVESTMENTS, LOANS AND GUARANTY OBLIGATIONS. The Company will not, and will not permit any of its Subsidiaries to, (1) lend money or credit or make advances to any person, (2) purchase or acquire any stock, obligations or securities of, or any other interest in, or make any capital contribution to, or other investment in, any person, (3) create, acquire or hold any Subsidiary, (4) be or become a party to any joint venture or partnership, or (5) be or become obligated under any Guaranty Obligations (other than those created in favor of the Lenders pursuant to the Credit Documents), except:
(a) the Company or any of its Subsidiaries may invest in cash and Cash Equivalents;
(b) any endorsement of a check or other medium of payment for deposit or collection, or any similar transaction in the normal course of business;
(c) the Company and its Subsidiaries may acquire and hold receivables owing to them in the ordinary course of business and payable or dischargeable in accordance with customary trade terms;
(d) investments acquired by the Company or any of its Subsidiaries (i) in exchange for any other investment held by the Company or any such Subsidiary in connection with or as a result of a bankruptcy, workout, reorganization or recapitalization of the issuer of such other investment, or (ii) as a result of a foreclosure by the Company or any of its Subsidiaries with respect to any secured investment or other transfer of title with respect to any secured investment in default;
(e) loans, advances and investments acquired by the Company or any of its Subsidiaries in connection with (and not arising in anticipation of) Permitted Acquisitions or other transactions permitted by section 9.2;
(f) loans and advances to employees for business- related travel expenses, moving expenses, costs of replacement homes and other similar expenses, in each case incurred in the ordinary course of business, shall be permitted;
(g) investments in the capital of any Wholly-Owned Subsidiary which is (i) a Wholly-Owned Subsidiary, and (ii) not a Foreign Subsidiary;
(h) to the extent not permitted by the foregoing clauses, existing investments in any Subsidiaries (and any increases thereof attributable to increases in retained earnings);
(i) to the extent not permitted by the foregoing clauses, the existing loans, advances, investments and guarantees described on Annex V hereto;
(j) any unsecured guaranty by the Company of any Indebtedness of a Subsidiary permitted by section 9.4, and any guaranty by any Subsidiary described in ...
ADVANCES, INVESTMENTS, LOANS AND GUARANTY OBLIGATIONS. The Borrower will not, and will not permit any of its Subsidiaries to, (1) lend money or credit or make advances to any person, (2) purchase or acquire any stock, obligations or securities of, or any other interest in, or make any capital contribution to, or other investment in, any person, (3) create, acquire or hold any Subsidiary, (4) be or become a party to any joint venture or partnership, or (5) be or
ADVANCES, INVESTMENTS, LOANS AND GUARANTY OBLIGATIONS. Clause (p) of section 9.5 of the Credit Agreement is amended to read in its entirety as follows:
ADVANCES, INVESTMENTS, LOANS AND GUARANTY OBLIGATIONS. Effective on the Amendment Effective Date, section 9.5(a) is hereby amended and restated in its entirety to read as follows: "
(a) the Company or any of its Subsidiaries may invest in cash and Cash Equivalents; PROVIDED, HOWEVER, that if as of the end of any fiscal month of the Company, the aggregate balance of cash and Cash Equivalents of the Company and its Subsidiaries exceeds $50,000,000, then the Company shall apply any such excess to the Revolving Loans;" and section 9.5(o) is hereby amended by deleting the reference to "$50,000,000" in the last line therein and replacing it with "$40,000,000".
ADVANCES, INVESTMENTS, LOANS AND GUARANTY OBLIGATIONS. The Borrower will not, and will not permit any of its Subsidiaries to, (1) lend money or credit or make advances to any person, (2) purchase or acquire any stock, obligations or securities of, or any other interest in, or make any capital contribution to, or other investment in, any person, (3) create, acquire or hold any Subsidiary, (4) be or become a party to any joint venture or partnership, or (5) be or become obligated under any Guaranty Obligations (other than those created in favor of the Lenders pursuant to the Credit Documents), except:
(a) the Borrower or any of its Subsidiaries may invest in cash and Cash Equivalents;
(b) any endorsement of a check or other medium of payment for deposit or collection, or any similar transaction in the normal course of business;
(c) the Borrower and its Subsidiaries may acquire and hold receivables owing to them in the ordinary course of business and payable or dischargeable in accordance with customary trade terms;
ADVANCES, INVESTMENTS, LOANS AND GUARANTY OBLIGATIONS. The Company will not, and will not permit any of its Subsidiaries to, (1) lend money or credit or make advances to any person, (2) purchase or acquire any stock, obligations or securities of, or any other interest in, or make any capital contribution to, or other investment in, any person, (3) create, acquire or hold any Subsidiary, (4) be or become a party to any joint venture or partnership, or (5) be or become obligated under any Guaranty Obligations (other than those which may be created in favor of the Lenders pursuant to the Credit Documents), except:
(a) the Company or any of its Subsidiaries may invest in cash and Cash Equivalents; provided that during any time that Revolving Loans or Swing Line Loans are outstanding to the Company, the aggregate amount of cash and Cash Equivalents held by the Company and its Domestic Subsidiaries shall not exceed $20,000,000 in the aggregate for any period of three consecutive Business Days, and provided further that during any time that Revolving Loans are outstanding to a Foreign Subsidiary Borrower, the aggregate amount of cash and Cash Equivalents held by the Foreign Subsidiaries domiciled in Europe shall not exceed $15,000,000 in the aggregate for any period of three consecutive Business Days;
(b) any endorsement of a check or other medium of payment for deposit or collection, or any similar transaction in the normal course of business;
(c) the Company and its Subsidiaries may acquire and hold receivables owing to them in the ordinary course of business and payable or dischargeable in accordance with customary trade terms;
(d) investments acquired by the Company or any of its Subsidiaries (i) in exchange for any other investment held by the Company or any such Subsidiary in connection with or as a result of a bankruptcy, workout, reorganization or recapitalization of the issuer of such other investment, or (ii) as a result of a foreclosure by the Company or any of its Subsidiaries with respect to any secured investment or other transfer of title with respect to any secured investment in default;
(e) loans and advances to employees for business-related travel expenses, moving expenses, costs of replacement homes, business machines or supplies, automobiles and other similar expenses, in each case incurred in the ordinary course of business, shall be permitted;
(f) to the extent not permitted by the foregoing clauses, the existing loans, advances, investments and guarantees described on Annex IV hereto;
(g) inve...
ADVANCES, INVESTMENTS, LOANS AND GUARANTY OBLIGATIONS. The Borrower will not, and will not permit any of its Subsidiaries to, (1) lend money or credit or make advances to any person, (2) purchase or acquire any stock, obligations or securities of, or any other interest in, or make any capital contribution to, or other investment in, any person, (3) create, acquire or hold any Subsidiary, (4) be or become a party to any joint venture or partnership, or (5) be or become obligated under any Guaranty Obligations (other than those created in favor of the Lenders pursuant to the Credit Documents), EXCEPT:
(a) the Borrower or any of its Subsidiaries may invest in cash and Cash Equivalents;
(b) any endorsement of a check or other medium of payment for deposit or collection, or any similar transaction in the normal course of business;
(c) the Borrower and its Subsidiaries may acquire and hold receivables owing to them in the ordinary course of business and payable or dischargeable in accordance with customary trade terms;
(d) investments acquired by the Borrower or any of its Subsidiaries (i) in exchange for any other investment held by the Borrower or any such Subsidiary in connection with or as a result of a bankruptcy, workout, reorganization or recapitalization of the issuer of such other investment, or (ii) as a result of a foreclosure by the Borrower or any of its Subsidiaries with respect to any secured investment or other transfer of title with respect to any secured investment in default;
ADVANCES, INVESTMENTS, LOANS AND GUARANTY OBLIGATIONS. The Borrower will not, and will not permit any of its Subsidiaries to, (a) lend money or credit or make advances to any person, (b) purchase or acquire any stock, obligations or securities of, or any other interest in, or make any capital contribution to, any person, (c) create, acquire or hold any Subsidiary, (d) be or become a party to any joint venture or partnership, or (e) be or become obligated under any Guaranty Obligations, EXCEPT:
(i) the Borrower or any of its Subsidiaries may invest in cash and Cash Equivalents;
(ii) the Borrower and its Subsidiaries may acquire and hold receivables owing to them in the ordinary course of business and payable or dischargeable in accordance with customary trade terms;
(iii) loans and advances to employees for business-related travel expenses, moving expenses, costs of replacement homes and other similar expenses, in each case incurred in the ordinary course of business, shall be permitted;
(iv) investments in the capital of Wholly-Owned Subsidiaries which are not Foreign Subsidiaries;
