Common use of Borrowings and Guaranties Clause in Contracts

Borrowings and Guaranties. No Designated Company shall issue, incur, assume, create or have outstanding any indebtedness or obligations, any Indebtedness for Borrowed Money, or be or become liable as endorser, guarantor or surety for any debt, obligation or undertaking of any other Person, or otherwise agree to provide funds for payment of the obligations of another, or advance funds thereto or otherwise assure a creditor of another against loss, or apply for or become liable to the issuer of a letter of credit which supports an obligation of another, or subordinate any material claim or demand it may have to the material claim or demand of any other Person; provided, however, that the foregoing shall not restrict nor operate to prevent: (a) the Obligations; (b) purchase money indebtedness and Capitalized Lease Obligations for the purchase or financing of real estate, machinery and equipment of the Designated Companies in the ordinary course of business in an aggregate amount not to exceed $6,000,000 in the aggregate at any one time outstanding, plus any such amounts outstanding on the Closing Date and described on Schedule 8.7; (c) Indebtedness listed on Schedule 8.7; (d) obligations of the Borrower arising out of interest rate, foreign currency, and commodity hedging agreements entered into for its own account with one or more Lenders or their Affiliates in the ordinary course of business; (e) endorsement of items for deposit or collection of commercial paper received in the ordinary course of business; (f) unsecured Indebtedness for Borrowed Money (including without limitation loans and advances) owing to the Borrower by any other Designated Company or by the Borrower to any other Designated Company;

Borrowings and Guaranties. No Designated Company None of the Borrowers shall, nor shall they permit any of their respective Subsidiaries to, issue, incur, assume, create or have outstanding any indebtedness or obligations, any Indebtedness for Borrowed MoneyIndebtedness, or be or become liable as endorser, guarantor guarantor, surety or surety otherwise for any debt, obligation or undertaking of any other Person, or otherwise agree to provide funds for payment of the obligations of another, or advance supply funds thereto or invest therein or otherwise assure a creditor of another against loss, or apply for or become liable to the issuer of a letter of credit which supports an obligation of another, or subordinate any material claim or demand it may have to the material claim or demand of any other Person; provided, however, that the foregoing shall not restrict nor operate to prevent: : (a) the Obligations; ; (b) purchase money indebtedness and indebtedness, Capitalized Lease Obligations for the purchase or financing other indebtedness of real estate, machinery LoJack and equipment of the Designated Companies in the ordinary course of business its Subsidiaries in an aggregate amount not to exceed the Dollar Equivalent of $6,000,000 2,000,000 in the aggregate at any one time outstanding, plus any such amounts outstanding on the Closing Date and described on Schedule 8.7; ; (c) Indebtedness listed on Schedule 8.7; (d) obligations of the Borrower arising out of non-speculative interest rate, foreign currency, and commodity hedging agreements entered into for its own account with one or more Lenders or their Affiliates financial institutions in the ordinary course of business; ; (ed) endorsement of items for deposit or collection of commercial paper received in the ordinary course of business; ; (fe) unsecured Indebtedness for Borrowed Money (including without limitation loans and advances) intercompany advances from time to time owing to the Borrower by any other Designated Company Guarantor to LoJack or another Guarantor or Borrower, or owing by the Borrower LoJack or any Guarantor to any other Designated CompanyBorrower;

Borrowings and Guaranties. No Designated Company Borrower shall issue, incur, assume, create or have outstanding any indebtedness or obligations, any Indebtedness for Borrowed MoneyDebt, or be or become liable as endorser, guarantor guarantor, surety or surety otherwise for any debt, obligation or undertaking of any other Person, or otherwise agree to provide funds for payment of the obligations of another, or advance supply funds thereto or invest therein or otherwise assure a creditor of another against loss, or apply for or become liable to the issuer of a letter of credit which supports an obligation of another, or subordinate any material claim or demand it may have to the material claim or demand of any other Person; provided, however, that the foregoing shall not restrict nor operate to prevent: (a) the Obligations, Hedging Liability, and Funds Transfer and Deposit Account Liability of the Borrowers owing to the Agent and the Lenders (and their Affiliates); (b) purchase money indebtedness and Capitalized Lease Obligations for the purchase or financing of real estate, machinery and equipment of the Designated Companies in the ordinary course of business in an aggregate amount not to exceed $6,000,000 in the aggregate at any one time outstanding, plus any such amounts Debt listed on Schedule 8.7(b) outstanding on the Closing Date and described on Schedule 8.7date of this Agreement; (c) Indebtedness listed on Schedule 8.7; (d) obligations of the Borrower Borrowers arising out of interest rate, rate and foreign currency, and commodity currency hedging agreements entered into for its own account with one or more Lenders or their Affiliates financial institutions in the ordinary course of business; (ed) endorsement of items for deposit or collection of commercial paper received in the ordinary course of business; (e) indebtedness from time to time owing by any Subsidiary or Affiliate to any Borrower arising from intercompany advances permitted by Section 8.9(f)(i) hereof; (f) unsecured Indebtedness for Borrowed Money Debt of the Borrowers not otherwise permitted by this Section in an amount not to exceed $2,000,000 in the aggregate at any one time outstanding; (including without limitation loans g) A guarantee by a Borrower of liability incurred by another Borrower in the ordinary course of business and advances) owing to the Borrower by any other Designated Company or by the Borrower to any other Designated Company;otherwise permitted hereunder.

Borrowings and Guaranties. No Designated Company Loan Party shall, nor shall it permit any of its Subsidiaries to, issue, incur, assume, create or have outstanding any indebtedness Indebtedness, or obligations, incur liabilities under any Indebtedness for Borrowed MoneyHedging Agreement, or be or become liable as endorser, guarantor guarantor, surety or surety otherwise for any debt, obligation Indebtedness or undertaking of any other Person, or otherwise agree to provide funds for payment of the obligations of another, or advance supply funds thereto or invest therein or otherwise assure a creditor of another against loss, or apply for or become liable to the issuer of a letter of credit which supports an obligation of another, or subordinate any material claim or demand it may have to the material claim or demand of any other Person; provided, however, that the foregoing shall not restrict nor operate to prevent: (a) the ObligationsSecured Obligations of the Loan Parties and their Subsidiaries owing to the Administrative Agent and the Lenders (and their Affiliates); (b) purchase money indebtedness and Capitalized Lease Obligations for the purchase or financing of real estate, machinery and equipment of the Designated Companies in the ordinary course of business Loan Parties and their Subsidiaries in an aggregate amount not to exceed $6,000,000 10,000,000 in the aggregate at any one time outstanding, plus any such amounts outstanding on the Closing Date and described on Schedule 8.7; (c) Indebtedness listed on Schedule 8.7; (d) obligations of the Borrower Loan Parties and their Subsidiaries arising out of interest rate, foreign currency, and commodity hedging agreements Hedging Agreements entered into for its own account with one or more Lenders or their Affiliates financial institutions in connection with bona fide hedging activities in the ordinary course of businessbusiness and not for speculative purposes; (ed) endorsement of items for deposit or collection of commercial paper received in the ordinary course of business;; and (fe) unsecured Indebtedness for Borrowed Money (including without limitation loans of the Loan Parties and advances) owing their Subsidiaries not otherwise permitted by this Section in an amount not to exceed $500,000 in the Borrower by aggregate at any other Designated Company or by the Borrower to any other Designated Company;one time outstanding.

Borrowings and Guaranties. No Designated The Company shall not, nor shall it permit any Subsidiary to, issue, incur, assume, create create, or have outstanding any indebtedness or obligations, any Indebtedness for Borrowed Money, or be or become liable as endorser, guarantor guarantor, surety, or surety otherwise for any debt, obligation obligation, or undertaking of any other Person, or otherwise agree to provide funds for payment of the obligations of another, or advance supply funds thereto or invest therein or otherwise assure a creditor of another against loss, or apply for or become liable to the issuer of a letter of credit which supports an obligation of another, or subordinate any material claim or demand it may have to the material claim or demand of any other Person; provided, however, that the foregoing shall not restrict nor operate to prevent: (a) the ObligationsObligations of the Company owing to the Purchaser under the Operative Documents and other indebtedness and obligations of the Company owing to the Purchaser; (b) purchase money indebtedness and Capitalized Lease Obligations for the purchase or financing of real estate, machinery and equipment reserved; (c) obligations of the Designated Companies Company and its Subsidiaries arising out of interest rate and foreign currency hedging agreements entered into with financial institutions in the ordinary course of business in an aggregate amount and not to exceed $6,000,000 in the aggregate at any one time outstanding, plus any such amounts outstanding on the Closing Date and described on Schedule 8.7; (c) Indebtedness listed on Schedule 8.7for speculation; (d) obligations of the Borrower arising out of interest rate, foreign currency, and commodity hedging agreements entered into for its own account with one or more Lenders or their Affiliates in the ordinary course of business; (e) endorsement of items for deposit or collection of commercial paper received in the ordinary course of business; (e) reserved; (f) indebtedness of the Company and Flexo to Mxxxxxx and Sxxxxx existing on the date hereof in an aggregate principal amount not to exceed $1,500,000 on the date hereof, as reduced by payments thereon, and provided that any indebtedness of the Company to Mxxxxxx and Sxxxxx shall be Subordinated Debt; (g) unsecured Indebtedness for Borrowed Money Intercompany Debt existing on the date hereof and identified on Schedule 8.7; (including without limitation loans h) unsecured Intercompany Debt incurred after the date hereof in an amount not to exceed $575,000 in the aggregate at any one time outstanding; (i) unsecured indebtedness of the Company and advancesits Subsidiaries not otherwise permitted by this Section in an amount not to exceed $115,000 in the aggregate at any one time outstanding; and (j) owing to indebtedness of the Borrower by any other Designated Company or by constituting the Borrower to any other Designated Company;Senior Debt.