Business Conducted. Each Borrower shall continue in the business presently operated by it using its commercially reasonable efforts to maintain its customers and goodwill. No Borrower shall engage, directly or indirectly, in any material respect in any line of business substantially different from the businesses conducted by such Borrower immediately prior to the Closing Date. Parent shall not engage, directly or indirectly, in any material respect in any line of business that is not either related, ancillary or complementary to the business of Parent as of the Closing Date, or to the businesses conducted by Borrowers.
Appears in 4 contracts
Samples: Loan and Security Agreement (JetPay Corp), Loan and Security Agreement (JetPay Corp), Loan and Security Agreement (JetPay Corp)
Business Conducted. Each Borrower shall continue in the business presently operated by it using its commercially reasonable best efforts to maintain its customers and goodwillcustomers. No Borrower shall engage, directly or indirectly, in any material respect in any line of business substantially different from the businesses conducted by such Borrower it immediately prior to the Closing Date. Parent shall not engage, directly or indirectly, in any material respect in any line of business that is not either related, ancillary or complementary to the business of Parent as of the Closing Date, or to the businesses conducted by Borrowers.
Appears in 4 contracts
Samples: Credit Agreement (Adcare Health Systems, Inc), Credit Agreement (Clarient, Inc), Credit Agreement (Clarient, Inc)
Business Conducted. Each Borrower shall continue in the business presently operated by it using its commercially reasonable best efforts to maintain its customers and goodwillcustomers. No Borrower shall engage, directly or indirectly, in any material respect in any line of business substantially different from the businesses conducted by such Borrower it immediately prior to the Closing Date. Parent shall not engage, directly or indirectly, in any material respect in any line of business that is not either related, ancillary or complementary to the business of Parent as of the Closing Date, or to the businesses conducted by Borrowers.
Appears in 3 contracts
Samples: Loan and Security Agreement (New York Health Care Inc), Loan and Security Agreement (Healthessentials Solutions Inc), Loan and Security Agreement (Orion Healthcorp Inc)
Business Conducted. Each Borrower shall continue in the business presently operated by it using its commercially reasonable best efforts to maintain its customers and goodwill. No Borrower shall engage, directly or indirectly, in any material respect in any line of business substantially different from the businesses conducted by such Borrower immediately prior to the Closing Date. Parent shall not engage, directly or indirectly, in any material respect in any line of business that is not either related, ancillary or complementary to the business of Parent as of the Closing Date, or to the businesses conducted by Borrowers.
Appears in 2 contracts
Samples: Loan and Security Agreement (Amerinac Holding Corp.), Loan and Security Agreement (Amerinac Holding Corp.)
Business Conducted. Each Borrower shall continue in the business presently operated by it using its commercially reasonable best efforts to maintain its customers and goodwill. No Based upon representations made by Borrower to Lender to induce Lender to establish the Revolving Credit for Borrower, no Borrower shall engage, directly or indirectly, in any material respect in any line of business substantially different from the businesses business conducted by such Borrower it immediately prior to the Closing Date. Parent shall not engage, directly or indirectly, engage in any material respect in any line business or lines of business that is which are not either related, ancillary or complementary to the business of Parent as of the Closing Date, or to the businesses conducted by Borrowersreasonably related thereto.
Appears in 2 contracts
Samples: Loan and Security Agreement (Response Usa Inc), Loan and Security Agreement (Response Usa Inc)
Business Conducted. Each Borrower shall continue in the business presently operated by it using its commercially reasonable best efforts to maintain its customers and goodwill. No Borrower shall engage, directly or indirectly, in any material respect in any line of business substantially different from the businesses conducted by such Borrower immediately prior to the Closing Date. Parent shall not engage, directly or indirectly, in any material respect in any line of business that is not either related, ancillary or complementary to the business of Parent as of the Closing Date, or to materially different from the businesses conducted by Borrowers.Borrower immediately prior to the Closing Date. 6.3
Appears in 2 contracts
Samples: Loan and Security Agreement (Newtek Business Services Corp.), Loan and Security Agreement (Newtek Business Services Corp.)
Business Conducted. Each (a) The Borrower shall continue in the business presently operated by it using its commercially reasonable efforts to maintain its customers and goodwill. No The Borrower shall not engage, directly or indirectly, in any material respect in any line of business substantially different from the businesses business conducted by such the Borrower immediately prior to the Closing Date. Parent shall not engage, directly or indirectly, in any material respect in any unless such line of business that is not either related, ancillary or complementary reasonably related to the such business of Parent as of so conducted prior to the Closing Date, or to the businesses conducted by Borrowers.
Appears in 2 contracts
Samples: Loan and Security Agreement (RCM Technologies Inc), Loan and Security Agreement (RCM Technologies Inc)
Business Conducted. Each Borrower shall continue in the business presently operated by it using its commercially reasonable best efforts to maintain its customers and goodwillcustomers. No Borrower shall not engage, directly or indirectly, in any material respect in any line of business substantially different from the businesses conducted by such Borrower it immediately prior to the Closing Date. Parent shall not engage, directly or indirectly, in any material respect in any line Date without obtaining the prior written consent of business that is not either related, ancillary or complementary to the business of Parent as of the Closing Date, or to the businesses conducted by BorrowersLender.
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Business Conducted. Each Borrower shall continue in the business presently operated by it using its commercially reasonable best efforts to maintain its customers and goodwill. No Borrower shall engage, directly or indirectly, in any material respect in any line of business substantially different from the businesses conducted by such Borrower immediately prior to the Closing Date. Parent shall not engage, directly or indirectly, in any material respect in any line of business that is not either related, ancillary or complementary to the business of Parent as of the Closing Date, or to the businesses conducted by Borrowers.
Appears in 1 contract
Samples: Loan and Security Agreement (Opinion Research Corp)
Business Conducted. Each Borrower shall continue in the business ------------------ presently operated by it using its commercially reasonable best efforts to maintain its customers and goodwill. No Borrower shall engage, directly or indirectly, in any material respect in any line of business substantially different from the businesses conducted by such Borrower immediately prior to the Closing Date. Parent shall not engage, directly or indirectly, in any material respect in any line of business that is not either related, ancillary or complementary to the business of Parent as of the Closing Date, or to the businesses conducted by Borrowers.
Appears in 1 contract
Samples: Loan and Security Agreement (Opinion Research Corp)
Business Conducted. Each (a) Borrower shall continue in the business presently operated by it using its commercially reasonable efforts to maintain its customers and goodwill. No Borrower shall not engage, directly or indirectly, in any material respect in any line of business substantially different from the businesses business conducted by such the Borrower immediately prior to the Closing Date. Parent shall not engage, directly or indirectly, in any material respect in any unless such line of business that is not either related, ancillary or complementary reasonably related to the such business of Parent as of so conducted prior to the Closing Date, or to the businesses conducted by Borrowers.
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Business Conducted. Each Borrower shall continue in the business presently operated by it using its commercially reasonable best efforts to maintain its customers and goodwill. No Borrower shall engage, directly or indirectly, in any material respect in any line of business substantially different from the businesses conducted by such Borrower immediately prior to the Closing Date. Parent shall not engage, directly or indirectly, in any material respect in any line of business that is not either related, ancillary or complementary to the business of Parent as of the Closing Date, or to materially different from the businesses conducted by BorrowersBorrowers immediately prior to the Closing Date.
Appears in 1 contract
Samples: Loan and Security Agreement (Newtek Business Services Inc)
Business Conducted. Each Borrower shall continue in the business presently operated by it and any businesses reasonably incidental or complimentary thereto using its commercially reasonable efforts to maintain its customers and goodwill. No Borrower shall not engage, directly or indirectly, in any material respect in any line of business substantially different from the businesses conducted by such Borrower immediately prior to the Closing Date. Parent shall not engage, directly or indirectly, in any material respect in any line of business that is not either related, ancillary or complementary to the business of Parent as of the Closing Date, or to the businesses conducted by Borrowers.
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Business Conducted. Each Borrower shall continue in the business presently operated by it using its commercially reasonable best efforts to maintain its customers and goodwill. No Borrower shall engage, directly or indirectly, in any material respect in any line of business substantially different from the businesses conducted by such Borrower the Borrowers (or any of the Merged Entities) immediately prior to the Closing Date. Parent shall not engage, directly or indirectly, in any material respect in any line of business that is not either related, ancillary or complementary to the business of Parent as of the Closing Date, or to the businesses conducted by Borrowers.
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Business Conducted. Each Borrower shall continue in the business presently operated by it using its commercially reasonable best efforts to maintain its customers and goodwill. No Borrower shall engage, directly or indirectly, in any material respect in any line of business substantially different from the businesses conducted by such Borrower the Borrowers immediately prior to the Closing Date. Parent For the purposes of Section 5.3, the printing and binding of books shall not engage, directly or indirectly, in any material respect in any line of business that is not either related, ancillary or complementary be deemed substantially similar to the business of Parent as of Borrowers on the Closing Date, or to the businesses conducted by Borrowers.
Appears in 1 contract