Affiliate Indebtedness. So long as a Default has occurred and is continuing, no Borrower, Guarantor or Pledged Entity will make any payments to any Affiliate that is not a Borrower or Guarantor on account of any Indebtedness owed by such Person to such Affiliate, other than: (a) reimbursements for the payment of Taxes; (b) payments in order to cover operating expenses incurred in the ordinary course of business, provided that such expenses are upon terms and conditions no more favorable to such Affiliate than would be available in an arms-length transaction between independent parties; and (c) payments to The Related Companies Group on account of obligations incurred in the ordinary course of business, provided that such expenses are upon terms and conditions no more favorable to such Affiliate than would be available in an arms-length transaction between independent parties.
Affiliate Indebtedness. The Company shall not incur any indebtedness to any of its Subsidiaries or Affiliates unless such indebtedness shall be subordinated in right of payment to the Company’s obligations with respect to this Note.
Affiliate Indebtedness. The Borrower shall have no Indebtedness between it and any Affiliates or make any loans (whether secured or unsecured) to, or advance any monies on behalf of, any Afflliates.
Affiliate Indebtedness. Borrower agrees that all Affiliate Indebtedness at any time owing by Borrower shall be unsecured and shall be absolutely subordinated to the Obligations except payments of Affiliate indebtedness may be made so long as no Event of Default exists and is continuing. Except as set forth above, Borrower will not, directly or indirectly: (a) permit any payment to be made in respect of any indebtedness, liabilities or obligations, direct or contingent, to any Affiliate which are subordinated by the terms thereof or by separate instrument to the payment of the Obligations, except in accordance with the terms of such subordination; (b) permit the amendment, rescission or other modification of any such subordination provisions of any of Borrower's subordinated obligations in such a manner as to affect adversely Lender's Lien in and to the Collateral or Lender's senior priority position and entitlement as to payment and rights with respect to the Obligations; or (c) permit the prepayment or redemption, of all or any part of Borrower's obligations to any Affiliate, or of any subordinated obligations of Borrower, except in accordance with the terms of such subordination provisions.
Affiliate Indebtedness. Any indebtedness (other than Moodx- Xxy Equipment Debt) of a Partnership or Moodx-Xxx to Seller or any Affiliate of Seller will, at Closing, be transferred to Purchaser or, at the option of Purchaser, be forgiven by Seller (with such transfer or forgiveness to include a transfer or release, as applicable, of all Encumbrances securing same). "Moodx-Xxx Equipment Debt" means indebtedness of Moodx-Xxx owed to Seller which results from Moodx-Xxx's purchase or commitment to purchase the equipment set forth on Exhibit 8.4.2. Purchaser will pay the Moodx-Xxx Equipment Debt at Closing.
Affiliate Indebtedness. Seller shall have caused any indebtedness owed by a Partnership or Moodx-Xxx to Seller or any Affiliate of Seller (other than Moodx-Xxx Equipment Debt) to be transferred to Purchaser or, at the option of Purchaser, forgiven by Seller (with such transfer or forgiveness to include a transfer or release, as applicable, of all Encumbrances securing same).
Affiliate Indebtedness. Assignment of notes and liens representing any indebtedness (or security therefor) owed by a Partnership or Moodx-Xxx to Seller or any Affiliate of Seller other than Moodx-Xxx Equipment Debt (or, if applicable, documentation reflecting forgiveness of such indebtedness and release of all Encumbrances securing same).
Affiliate Indebtedness. Any indebtedness of the Partnership to Seller or any Affiliate of Seller will, at Closing, be transferred to Purchaser (with such transfer to include a transfer of all Encumbrances securing same). Purchaser consents to the receipt and retention, before or after Closing, by Home Interiors and Gifts, Inc. of any proceeds of any tax refund or adjustment attributable to the 1994 tax year of DBL Limited and acknowledges that such will not violate the requirements of Sections 7.1.10 or 9.1.8.
Affiliate Indebtedness. Seller shall have caused any indebtedness owed by DBL Partnership to Seller or any Affiliate of Seller to be transferred to Purchaser (with such transfer to include a transfer of all Encumbrances securing same).
Affiliate Indebtedness. Assignment of notes and liens representing any indebtedness (or security therefor) owed by DBL Limited to Seller or any Affiliate of Seller.
