Common use of Business of Holdings, the Borrower and the Subsidiaries Clause in Contracts

Business of Holdings, the Borrower and the Subsidiaries. Notwithstanding any other provisions hereof, engage at any time in any business or business activity other than: (a) in the case of the Borrower or any Subsidiary, any business or business activity conducted by any of them on the Closing Date and any business or business activities incidental or related thereto, or any business or activity that is reasonably similar or complementary thereto or a reasonable extension, development or expansion thereof or ancillary thereto; and (b) in the case of Holdings, (i) ownership of the Equity Interests in the Borrower, together with activities directly related thereto; (ii) performance of its obligations under and in connection with the Loan Documents, the 2010 Merger Agreement and the other agreements contemplated by the 2010 Merger Agreement; (iii) issuance of Equity Interests; (iv) as otherwise required by law; and (v) holding any cash received in accordance with the terms hereof and investing such proceeds in Permitted Investments. Holdings shall (x) own no assets other than the Equity Interests of the Borrower, its books and records, deposit accounts of Holdings, all cash deposits held therein, and cash paid to Holdings in accordance with the terms hereof, (y) incur no Indebtedness for borrowed money other than guarantees of Indebtedness of the Borrower and Subsidiaries permitted hereunder and (z) grant no Lien on any of its assets other than Liens created pursuant to the Loan Documents and ordinary course Liens incurred under customary deposit account agreements entered into by Holdings with respect to deposit accounts.

Appears in 2 contracts

Samples: Credit Agreement (EVERTEC, Inc.), Assignment and Assumption Agreement (EVERTEC, Inc.)

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Business of Holdings, the Borrower and the Subsidiaries. Notwithstanding any other provisions hereof, engage at any time in any business or business activity other than: (a) in the case of the Borrower or any Subsidiary, any business or business activity conducted by any of them on the Closing Date and any business or business activities incidental or related thereto, or any business or activity that is reasonably similar or complementary thereto or a reasonable extension, development or expansion thereof or ancillary thereto; and (b) in the case of Holdings, (i) ownership of the Equity Interests in the Borrower, together with activities directly related thereto; (ii) performance of its obligations under and in connection with the Loan Documents, the 2010 Merger Agreement and the other agreements contemplated by the 2010 Merger Agreement; (iii) issuance of Equity Interests; (iv) as otherwise required by law; and (v) holding any cash received in accordance with the terms hereof and investing such proceeds in Permitted Investments. Holdings shall (x) own no assets other than the Equity Interests of the Borrower, its books and records, deposit accounts of Holdings, all cash deposits held therein, and cash paid to Holdings in accordance with the terms hereof, (y) incur no Indebtedness for borrowed money other than guarantees of Indebtedness of the Borrower and Subsidiaries permitted hereunder and (z) grant no Lien on any of its assets other than Liens created pursuant to the Loan Documents and ordinary course Liens incurred under customary deposit account agreements entered into by Holdings with respect to deposit accounts.

Appears in 1 contract

Samples: Credit Agreement (TII Smart Solutions, Sociedad Anonima)

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Business of Holdings, the Borrower and the Subsidiaries. Notwithstanding any other provisions hereof, engage at any time in any business or business activity other than: (a) in the case of the Borrower or any Subsidiary, any business or business activity conducted by any of them on the Closing Date and any business or business activities incidental or related thereto, or any business or activity that is reasonably similar or complementary thereto or a reasonable extension, development or expansion thereof or ancillary thereto; and (b) in the case of Holdings, (i) ownership of the Equity Interests in the Borrower, together with activities directly related thereto; , (ii) performance of its obligations under and in connection with the Loan Documents, the 2010 Merger Agreement Documents and the other agreements contemplated by entered into in connection with the 2010 Merger Agreement; Acquisition, (iii) issuance of Equity Interests; , (iv) as otherwise required by law; law and (v) holding any cash received in accordance with the terms hereof and investing such proceeds in Permitted Investments. Holdings shall (x) own no assets other than the Equity Interests of the Borrower, its books and records, deposit accounts of Holdings, all cash deposits held therein, therein and cash paid to Holdings in accordance with the terms hereof, (y) incur no Indebtedness for borrowed money other than guarantees of Indebtedness of the Borrower and Subsidiaries permitted hereunder and (z) grant no Lien on any of its assets other than Liens created pursuant to the Loan Documents and ordinary course Liens incurred under customary deposit account agreements entered into by Holdings with respect to deposit accounts.

Appears in 1 contract

Samples: Credit Agreement (Great Wolf Resorts, Inc.)

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