Common use of Arm’s Length Clause in Contracts

Arm’s Length. basis (a) Except as permitted by paragraph (b) below, no Obligor shall enter into any transaction with any person except on arm's length terms. (b) The following transactions shall not be a breach of this Clause 25.15: (i) intra-Group loans permitted under Clause 25.9 (Loans or credit); (ii) fees, costs and expenses payable under the Transaction Documents in the amounts set out in the Transaction Documents delivered to the Agent under Clause 4.1 (Initial conditions precedent) or agreed by the Agent; and (iii) any Permitted Transaction.

Arm’s Length. basis (a) 23.17.1 Except as permitted by paragraph clause 23.17.2, the Borrower shall not (band shall ensure no member of the Group shall) below, no Obligor shall enter into any transaction with any person except on arm's ’s length termsterms and for full market value. 23.17.2 Subject to clause 23.42 (b) The Ring fencing), the following transactions shall not be a breach of this Clause 25.15clause 23.17: (ia) intraIntra-Group loans permitted under Clause 25.9 (Loans or credit)Loans; (iib) fees, costs and expenses payable under the Transaction Documents in the amounts set out in the Transaction Documents delivered to the Agent under Clause clause 4.1 (Initial conditions precedent) or agreed by the Agent; and (iiic) any Permitted TransactionTransactions.

Arm’s Length. basis (a) Except as permitted by paragraph (b) belowclause 22.15(b), no Obligor shall enter into any transaction with any person except on arm's length terms. (b) The following transactions shall not be a breach of this Clause 25.15clause 22.15: (i) intra-Group loans permitted under Clause 25.9 clause 22.10 (Loans or credit); (ii) fees, costs and expenses payable under the Transaction Documents in the amounts set out in the Transaction Documents delivered to the Agent under Clause clause 4.1 (Initial conditions precedent) or agreed by the Agent; and (iii) any Permitted Transaction.

Arm’s Length. basis (a) Except as permitted by paragraph (b) belowClause 19.17(b), no Obligor shall enter into any transaction with any person except on arm's ’s length termsterms and for full market value. (b) The following transactions shall not be a breach of this Clause 25.1519.17: (i) intra-Group loans permitted under Clause 25.9 19.18 (Loans or credit); (ii) fees, costs and expenses payable under the Transaction Finance Documents in the amounts set out in the Transaction Finance Documents delivered to the Agent Purchasers’ Representative under Clause 4.1 (Initial conditions precedent) or agreed by the AgentPurchaser; and (iii) any Permitted TransactionTransaction or Permitted Distribution.

Arm’s Length. basis (a) Except as permitted by paragraph (b) below, no No Obligor shall (and the Parent shall ensure no member of the Group will) enter into any transaction with any person except on arm's ’s length termsterms and for full market value. (b) The following transactions shall Clause 24.19(a) (Loans or credit) does not be a breach of this Clause 25.15apply to: (i) intra-Group loans permitted under Clause 25.9 clause 24.19 (Loans or credit); (ii) fees, costs and expenses payable under the Transaction Documents in the amounts set out in the Transaction Documents delivered to the Agent under Clause clause 4.1 (Initial conditions precedent) or agreed by the Agent; andor (iii) any Permitted Transaction.

Arm’s Length. basis (a) Except as permitted by paragraph (b) below, no Obligor shall (and the Company shall ensure that no other member of the Group will) enter into any transaction with any person except on arm's length termsterms and for full market value. (b) The following transactions shall not be a breach of this Clause 25.15clause 23.15: (i) intra-Group loans permitted under Clause 25.9 clause 23.16 (Loans or credit); (ii) fees, costs and expenses payable under the Transaction Finance Documents in the amounts set out in the Transaction Finance Documents delivered to the Agent under Clause 4.1 (Initial conditions precedentAgent) or agreed by the Agent; and (iii) any Permitted Transaction.

Arm’s Length. basis (a) Except as permitted by paragraph (b) below, no No Obligor shall enter into any transaction with any person except on arm's length termsterms and on normal commercial terms at market value. (b) The following transactions Paragraph (a) above shall not be a breach of this Clause 25.15apply to: (i) any intra-Group loans permitted under Clause 25.9 (Loans made available by an Obligor to another Obligor or credit)another member of the Group; (ii) fees, costs and expenses payable under the Transaction Finance Documents in the amounts set out in the Transaction Finance Documents delivered to the Agent under Clause 4.1 (Initial conditions precedent) or agreed by the Agent); and (iii) any Permitted Transactionother transaction permitted under this Agreement.

Arm’s Length. basis (a) 23.13.1 Except as permitted by paragraph (b) Clause 23.13.2 below, no Obligor shall (and the Parent shall ensure no Material Company will) enter into any transaction with any person except on bona fide arm's ’s length terms. (b) 23.13.2 The following transactions shall not be a breach of this Clause 25.1523.13.1: (ia) intra-Group loans transactions permitted under Clause 25.9 23.25 (Loans or creditIntra-Group transactions);; and (iib) fees, costs and expenses payable under the Transaction Finance Documents in the amounts set out in the Transaction Finance Documents delivered to the Agent under Clause 4.1 (Initial conditions precedent) or agreed by the Agent; and (iii) any Permitted Transaction.