Common use of Common Enterprise Clause in Contracts

Common Enterprise. The successful operation and condition of each of the Loan Parties is dependent on the continued successful performance of the functions of the group of Loan Parties as a whole and the successful operation of each Loan Party is dependent on the successful performance and operation of each of the other Loan Parties. Each of the Loan Parties expects to derive benefit (and its board of directors or other governing body has determined that it may reasonably be expected to derive benefit), directly and indirectly, from successful operations of each of the other Loan Parties. Each Loan Party expects to derive benefit (and the boards of directors or other governing body of each such Loan Party have determined that it may reasonably be expected to derive benefit), directly and indirectly, from the credit extended by the Lenders to the Loan Parties hereunder, both in their separate capacities and as members of a group of companies. Each Loan Party has determined that execution, delivery, and performance of this Agreement and any other Loan Documents to be executed by such Loan Party is within its corporate purpose, will be of direct and indirect benefit to such Loan Party, and is in its best interest.

Appears in 6 contracts

Samples: Credit Agreement (Applica Inc), Credit Agreement (Salton Inc), Term Loan Agreement (Salton Inc)

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Common Enterprise. The successful operation and condition of each of the Loan Parties is dependent on upon the continued successful performance of the functions of the group of Loan Parties as a whole and the successful operation of each Loan Party is dependent on upon the successful performance and operation of each of the other Loan PartiesParty. Each of the Loan Parties expects to derive benefit (and its board of directors or other governing body has determined that it may reasonably be expected to derive benefit), ) directly and indirectly, indirectly from successful operations of the Lead Borrower and each of the other Loan Parties. Each Loan Party expects to derive benefit (and the boards its board of directors or other governing body of each such Loan Party have has determined that it may reasonably be expected to derive benefit), ) directly and indirectly, indirectly from the credit extended by the Lenders, the Issuing Banks and the Acceptance Lenders to the Loan Parties hereunder, both in their separate capacities and as members of a the group of companies. Each Loan Party has determined that the execution, delivery, delivery and performance of this Agreement and any other Loan Documents Document to be executed by such Loan Party is within its corporate purpose, will be of direct and indirect benefit to such Loan Party, and is in its best interestinterests.

Appears in 6 contracts

Samples: Credit Agreement (Caleres Inc), Fourth Amended and Restated Credit Agreement (Caleres Inc), Credit Agreement (Caleres Inc)

Common Enterprise. The successful operation and condition of each of the Loan Parties is dependent on the continued successful performance of the functions of the group of the Loan Parties as a whole and the successful operation of each Loan Party is dependent on the successful performance and operation of each of the other Loan Parties. Each of the Loan Parties Party expects to derive benefit (and its board of directors or other governing body has determined that it may reasonably be expected to derive benefit), directly and indirectly, from (i) successful operations of each of the other Loan Parties. Each Loan Party expects to derive benefit Parties and (and the boards of directors or other governing body of each such Loan Party have determined that it may reasonably be expected to derive benefit), directly and indirectly, from ii) the credit extended by the Lenders to the Loan Parties Borrowers hereunder, both in their separate capacities and as members of a the group of companies. Each Loan Party has determined that execution, delivery, and performance of this Agreement and any other Loan Documents to be executed by such Loan Party is within its corporate purpose, will be of direct and indirect benefit to such Loan Party, and is in its best interest.

Appears in 4 contracts

Samples: Credit Agreement (Furniture Brands International Inc), Credit Agreement (Furniture Brands International Inc), Credit Agreement (Furniture Brands International Inc)

Common Enterprise. The successful operation and condition of each of the Loan Parties is dependent on the continued successful performance of the functions of the group of the Loan Parties as a whole and the successful operation of each whole. Each Loan Party is dependent on the successful performance and operation of each of the other Loan Parties. Each of the Loan Parties expects to derive benefit (and its board of directors or other governing body has determined that it may reasonably be expected to derive benefit), directly and indirectly, from (a) successful operations of each of the other Loan Parties. Each Loan Party expects to derive benefit Parties as a whole and (and the boards of directors or other governing body of each such Loan Party have determined that it may reasonably be expected to derive benefit), directly and indirectly, from b) the credit extended by the Lenders to the Loan Parties Borrower hereunder, both in their separate capacities and as members of a the group of companies. Each Loan Party has determined that execution, delivery, and performance of this Agreement and any other Loan Documents to be executed by such Loan Party is within its corporate purpose, in furtherance of its direct and/or indirect business interests, will be of direct and and/or indirect benefit to such Loan Party, and is in its best interest.

Appears in 4 contracts

Samples: Credit Agreement (Cactus, Inc.), Credit Agreement (Cactus, Inc.), Credit Agreement (Cactus, Inc.)

Common Enterprise. The successful operation and condition of each of the Loan Parties is dependent on the continued successful performance of the functions of the group of Loan Parties as a whole and the successful operation of each Loan Party is dependent on the successful performance and operation of each of the other Loan PartiesParty. Each of the Loan Parties expects to derive benefit (and its board of directors or other governing body has determined that it may reasonably be expected to derive benefit), directly and indirectly, from successful operations of each of the other Loan Parties. Each Loan Party expects to derive benefit (and the boards of directors or other governing body of each such Loan Party have determined that it may reasonably be expected to derive benefit), directly and indirectly, from the credit extended by the Lenders to the Loan Parties hereunder, both in their separate capacities and as members of a the group of companies. Each Loan Party has determined that execution, delivery, and performance of this Agreement and any other Loan Other Documents to be executed by such Loan Party is within its corporate purpose, will be of direct and indirect benefit to such Loan Party, and is in its best interest.

Appears in 2 contracts

Samples: Revolving Credit, Term Loan and Security Agreement (PHI Group, Inc./De), Revolving Credit, Term Loan and Security Agreement (PHI Group, Inc./De)

Common Enterprise. The successful operation and condition of each of the Loan Parties Party is dependent on the continued successful performance of the functions of the group of Loan Parties as a whole and the successful operation of each Loan Party is dependent on the successful performance and operation of each of the other Loan PartiesParty. Each of the Loan Parties Party expects to derive benefit (and its board of directors or other governing body has determined that it may reasonably be expected to derive benefit), directly and indirectly, from successful operations of the Parent and each of the other Loan Parties. Each Loan Party expects to derive benefit (and the boards of directors or other governing body of each such Loan Party have determined that it may reasonably be expected to derive benefit), directly and indirectly, from the credit extended by the Lenders Purchaser to the Loan Parties hereunder, both in their separate capacities and as members of a the group of companies. Each Loan Party has determined that execution, delivery, and performance of this Agreement and any other Loan Purchase Documents to be executed by such Loan Party is within its corporate purpose, will be of direct and indirect benefit to such Loan Party, and is in its best interest.

Appears in 1 contract

Samples: Note and Equity Purchase Agreement (Encore Medical Corp)

Common Enterprise. The successful operation and condition of each of the Loan Parties Party is dependent on the continued successful performance of the functions of the group of Loan Parties as a whole and the successful operation of each Loan Party is dependent on the successful performance and operation of each of the other Loan PartiesParty. Each of the Loan Parties Party expects to derive benefit (and its board of directors or other governing body has determined that it may reasonably be expected to derive benefit), directly and indirectly, from successful operations of Holdings and each of the other Loan Parties. Each Loan Party expects to derive benefit (and the boards of directors or other governing body of each such Loan Party have determined that it may reasonably be expected to derive benefit), directly and indirectly, from the credit extended by the Lenders to the Loan Parties hereunder, both in their separate capacities and as members of a the group of companies. Each Loan Party has determined that execution, delivery, and performance of this Agreement and any other Loan Other Documents to be executed by such Loan Party is within its corporate purpose, will be of direct and indirect benefit to such Loan Party, and is in its best interest.

Appears in 1 contract

Samples: Revolving Credit and Security Agreement (Daseke, Inc.)

Common Enterprise. The successful operation and condition of each of the Loan Parties is dependent on upon the continued successful performance of the functions of the group of Loan Parties as a whole and the successful operation of each Loan Party is dependent on upon the successful performance and operation of each of the other Loan PartiesParty. Each of the Loan Parties expects to derive benefit (and its board of directors or other governing body has determined that it may reasonably be expected to derive benefit), ) directly and indirectly, indirectly from successful operations of the Lead Borrower and each of the other Loan Parties. Each Loan Party expects to derive benefit (and the boards its board of directors or other governing body of each such Loan Party have has determined that it may reasonably be expected to derive benefit), ) directly and indirectly, indirectly from the credit extended by the Lenders, the Issuing Banks and the Acceptance Lenders to the Loan Parties hereunder, both in inn their separate capacities and as members of a the group of companies. Each Loan Party has determined that the execution, delivery, delivery and performance of this Agreement and any other Loan Documents Document to be executed by such Loan Party is within its corporate purpose, will be of direct and indirect benefit to such Loan Party, and is in its best interestinterests.

Appears in 1 contract

Samples: Credit Agreement (Brown Shoe Co Inc)

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Common Enterprise. The successful operation and condition of each of the Loan Credit Parties is dependent on the continued successful performance of the functions of the group of Loan Credit Parties as a whole and the successful operation of each Loan Credit Party is dependent on the successful performance and operation of each of the other Loan Credit Parties. Each of the Loan Credit Parties expects to derive benefit (and its board of directors or other governing body has determined that it may reasonably be expected to derive benefit), directly and indirectly, from successful operations of each of the other Loan Credit Parties. Each Loan Credit Party expects to derive benefit (and the boards of directors or other governing body of each such Loan Credit Party have determined that it may reasonably be expected to derive benefit), directly and indirectly, from the credit extended by the Lenders to the Loan Credit Parties hereunder, both in their separate capacities and as members of a group of companies. Each Loan Credit Party has determined that execution, delivery, and performance of this Agreement and any other Loan Documents to be executed by such Loan Credit Party is within its corporate purpose, will be of direct and indirect benefit to such Loan Credit Party, and is in its best interest.

Appears in 1 contract

Samples: Term Loan Agreement (Applica Inc)

Common Enterprise. The successful operation and condition of each of the Loan Parties Consolidated Members is dependent on the continued successful performance of the functions of the group of Loan Parties Consolidated Members as a whole and the successful operation of each Loan Party Consolidated Member is dependent on the successful performance and operation of each of the other Loan PartiesConsolidated Member. Each of the Loan Parties expects to derive benefit (and its board of directors or other governing body has determined that it may reasonably be expected to derive benefit), directly and indirectly, from successful operations of the Parent and each of the other Loan PartiesConsolidated Members. Each Loan Party expects to derive benefit (and the boards of directors or other governing body of each such Loan Party have determined that it may reasonably be expected to derive benefit), directly and indirectly, from the credit extended by the Lenders to the Loan Parties Borrowers hereunder, both in their separate capacities and as members of a the group of companies. Each Loan Party has determined that execution, delivery, and performance of this Agreement and any other Loan Documents to be executed by such Loan Party is within its corporate purpose, will be of direct and indirect benefit to such Loan Party, and is in its best interest.

Appears in 1 contract

Samples: Credit Agreement (Egl Inc)

Common Enterprise. The successful operation and condition of ----------------- each of the Loan Parties Party is dependent on the continued successful performance of the functions of the group of Loan Parties as a whole and the successful operation of each Loan Party is dependent on the successful performance and operation of each of the other Loan PartiesParty. Each of the Loan Parties Party expects to derive benefit (and its board of directors or other governing body has determined that it may reasonably be expected to derive benefit), directly and indirectly, from successful operations of the Parent and each of the other Loan Parties. Each Loan Party expects to derive benefit (and the boards of directors or other governing body of each such Loan Party have determined that it may reasonably be expected to derive benefit), directly and indirectly, from the credit extended by the Lenders Purchaser to the Loan Parties hereunder, both in their separate capacities and as members of a the group of companies. Each Loan Party has determined that execution, delivery, and performance of this Agreement and any other Loan Purchase Documents to be executed by such Loan Party is within its corporate purpose, will be of direct and indirect benefit to such Loan Party, and is in its best interest.

Appears in 1 contract

Samples: Note and Equity Purchase Agreement (Encore Medical Corp)

Common Enterprise. The successful operation and condition of each of the Loan Parties is dependent on the continued successful performance of the functions of the group of Loan Parties as a whole and the successful operation of each Loan Party is dependent on the successful performance and operation of each of the other Loan PartiesParty. Each of the Loan Parties expects to derive benefit (and its board of directors or other governing body has determined that it may reasonably be expected to derive benefit), directly and indirectly, from successful operations of the Parent and each of the other Loan Parties. Each Loan Party expects to derive benefit (and the boards of directors or other governing body of each such Loan Party have determined that it may reasonably be expected to derive benefit), directly and indirectly, from the credit extended by the Lenders to the Loan Parties hereunder, both in their separate capacities and as members of a the group of companies. Each Loan Party has determined that execution, delivery, and performance of this Agreement and any other Loan Documents to be executed by such Loan Party is within its corporate purpose, will be of direct and indirect benefit to such Loan Party, and is in its best interest.

Appears in 1 contract

Samples: Credit Agreement (Brown Shoe Co Inc/)

Common Enterprise. The successful operation and condition of each of the Loan Parties is dependent on upon the continued successful performance of the functions of the group of Loan Parties as a whole and the successful operation of each Loan Party is dependent on upon the successful performance and operation of each of the other Loan PartiesParty. Each of the Loan Parties expects to derive benefit (and its board of directors or other governing body has determined that it may reasonably be expected to derive benefit), ) directly and indirectly, indirectly from successful operations of the Lead Borrower and each of the other Loan Parties. Each Loan Party expects to derive benefit (and the boards its board of directors or other governing body of each such Loan Party have has determined that it may reasonably be expected to derive benefit), ) directly and indirectly, indirectly from the credit extended by the Lenders, the Issuing Banks and the Acceptance Lenders to the Loan Parties hereunder, both in their separate capacities and as members of a the group of companies. Each Loan Party has determined that the execution, delivery, delivery and performance of this Agreement and any other Loan Documents Document to be executed by such Loan Party is within its corporate purpose, will be of direct and indirect benefit to such Loan Party, and is in its best interest.interests. ​

Appears in 1 contract

Samples: Credit Agreement (Caleres Inc)

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