Borrower Activities Sample Clauses
The 'Borrower Activities' clause defines the permitted and prohibited actions of the borrower during the term of a loan or credit agreement. It typically outlines what types of business operations, investments, or transactions the borrower may engage in, and may restrict activities such as taking on additional debt, selling key assets, or entering into certain contracts without lender approval. By clearly specifying these boundaries, the clause helps protect the lender’s interests by ensuring the borrower does not undertake activities that could jeopardize their ability to repay the loan or diminish the value of collateral.
Borrower Activities. Each of the Parent Borrower, the Co-Borrower and their respective Subsidiaries conducts and has conducted all Cannabis Activities in compliance with all Cannabis Laws that are applicable to it, its property or its business. Neither the Parent Borrower nor any of its Subsidiaries nor any director, officer, employee or any agent or other person acting on behalf of the Parent Borrower or any Subsidiary has, in the course of its actions for, or on behalf of the Parent Borrower or any Subsidiary, possessed, cultivated, produced, processed, imported, distributed, purchased or sold, or has any current intention to possess, cultivate, produce, process, import, distribute, purchase or sell, any Cannabis or has otherwise engaged in any direct or indirect dealings or transactions, in each case, involving Cannabis in or to the United States of America, its territories and possessions, any state of the United States of America and the District of Columbia or any other federal, provincial, state, municipal, local or foreign jurisdiction where such activity is unlawful. None of the Parent Borrower or any of its Subsidiaries holds an Investment, other than a Permitted Contingent Investment, in any Person who conducts any Cannabis Activities other than in a jurisdiction where such Cannabis Activities would not violate or result in a breach of any applicable Cannabis Law. The Parent Borrower and its Subsidiaries have instituted and maintained policies and procedures reasonably designed to ensure that the Parent Borrower and its Subsidiaries do not (and do not hold any Investment, other than Permitted Contingent Investments, in any Person that does) carry on any activities in, or distribute any products to, any jurisdiction where such activities or products are not fully in compliance with all applicable federal, state, provincial or municipal laws.
Borrower Activities. 71 ARTICLE IX EVENTS OF DEFAULT
Borrower Activities. The Borrower has no assets or liabilities, and at no time prior to the date hereof has had, any assets or liabilities other than its rights in the Collateral, its rights and obligations under the Loan Documents, the Trust Agreement, the Administration Agreement, the Letter Agreement, the Trustee Fee Letter and the Parent Facility and ordinary expenses relating to the administration of its rights and obligations under the Loan Documents, the Trust Agreement, the Administration Agreement, the Letter Agreement, the Trustee Fee Letter and the Parent Facility; the Borrower does not engage in, and no time prior to the date hereof has engaged in, any activity or business other than those activities and the businesses directly related to the performance of its obligations and the exercise of its rights under the Loan Documents and the Parent Facility.
Borrower Activities. The Borrower will not engage in any business or operations except for the ownership of Services and Lason International without the prior written consent of the Required Lenders. 71
Borrower Activities. Each Borrower and their respective Subsidiaries conduct and have conducted all Cannabis Activities in compliance, in all material respects, with all Cannabis Laws that are applicable to it, its property or its business. Neither the Borrower Representative nor any of its Subsidiaries nor any director, officer, employee or any agent or other person acting on behalf of the Borrower Representative or any Subsidiary has, in the course of its actions for, or on behalf of the Borrower Representative or any Subsidiary, possessed, cultivated, produced, processed, imported, distributed, purchased or sold any Cannabis or has otherwise engaged in any direct or indirect dealings or transactions, in each case, involving Cannabis in or to the United States of America, its territories and possessions, any state of the United States of America and the District of Columbia or any other federal, provincial, state, municipal, local or foreign jurisdiction where such activity is unlawful. None of the Borrower Representative or any of its Subsidiaries holds an Investment, other than a Permitted Contingent Investment, in any Person who conducts any Cannabis Activities other than in a jurisdiction where such Cannabis Activities would not violate or result in a breach of any applicable Cannabis Law. The Borrower Representative and its Subsidiaries have instituted and maintained policies and procedures reasonably designed to ensure that the Borrower Representative and its Subsidiaries do not (and do not hold any Investment, other than Permitted Contingent Investments, in any Person that does) carry on any activities in, or distribute any products to, any jurisdiction where such activities or products are not fully in compliance with all applicable federal, state, provincial or municipal laws.
Borrower Activities. Engage in any business or activity other than the owning of Capital Stock of Management and Capital and any actions reasonably incidental thereto.