Contingent Obligations and Risks Clause Samples

Contingent Obligations and Risks. Except as otherwise expressly permitted by this Agreement, Borrower shall not enter into any Contingent Obligations or assume, guarantee, endorse, contingently agree to purchase or otherwise become liable for or upon or incur any obligation of any Person (other than indemnities to officers and directors of such Person to the extent permitted by Applicable Law); provided, however, that nothing contained in this Section 7.8 shall prohibit Borrower from indorsing checks in the ordinary course of its business.

Contingent Obligations and Risks. Except as otherwise expressly permitted by this Agreement, Issuer shall not enter into any Contingent Obligations or assume, guarantee, endorse, contingently agree to purchase or otherwise become liable for or upon or incur any obligation of any Person (other than indemnities to officers and directors of such Person to the extent permitted by Applicable Law); provided, however, that nothing contained in this Section 7.8 shall prohibit Issuer from indorsing checks in the ordinary course of its business.

Contingent Obligations and Risks. Borrower shall not enter into any Contingent Obligations or assume, guarantee, endorse, contingently agree to purchase or otherwise become liable for or upon or incur any obligation of any Person other than endorsing checks in the ordinary course of its Business and Permitted Indebtedness.

Contingent Obligations and Risks. Except as otherwise expressly permitted by the Transaction Documents, neither the Issuer nor the Transferor shall enter into any Contingent Obligations or assume, guarantee, endorse, contingently agree to purchase or otherwise become liable for or upon or incur any obligation of any Person (other than indemnities to officers and directors of such Person to the extent permitted by Requirements of Law); provided, however, that nothing contained in this Section 4.2(cc) shall prohibit the Issuer or the Transferor from indorsing checks in the ordinary course of its business.

Contingent Obligations and Risks. Other than Permitted Indebtedness, no Loan Party shall create or become or be liable with respect to any material Contingent Obligation outside the ordinary course of business.

Contingent Obligations and Risks. No Credit Party shall, and no Credit Party shall permit or cause any of its Subsidiaries to, enter into or incur any Contingent Obligations or assume, guarantee, endorse, contingently agree to purchase or otherwise become liable for or upon or incur any obligation of any Person; provided, however, that nothing contained in this Section 7.9 shall prohibit Borrower or any of its Subsidiaries from (i) entering into any guarantees otherwise permitted under Section 7.2, (ii) endorsing checks in the ordinary course of its business, or (iii) engaging in interest rate swaps or hedging transactions to the extent permitted under Section 7.2. Borrower shall not assume or become subject to any risks or liabilities other than those relating to its Business.

Contingent Obligations and Risks. No Credit Party shall directly or indirectly create or become or be liable with respect to any Contingent Obligation except (a) those resulting from endorsement of negotiable instruments for collection in the ordinary course of business or guaranties by any Credit Party of the obligation of another Credit Party, which obligation is permitted hereunder; (b) those arising under indemnity agreements to title insurers to cause such title insurers to issue to Agent mortgagee title insurance policies; (c) those arising with respect to this Agreement, the Loan Documents or customary indemnification obligations incurred in connection with Permitted Asset Sales or Permitted Acquisitions; (d) those incurred in the ordinary course of business with respect to surety and appeal bonds, performance and return-of-money bonds and other similar obligations not exceeding at any time outstanding $5,000,000 in aggregate liability; and (e) those incurred with respect to Indebtedness permitted by Section 7.2 or other obligations not otherwise prohibited by this Agreement (including guarantees by any Credit Party of the Indebtedness of another Credit Party permitted by Section 7.2) provided that any such Contingent Obligation is subordinated to the Obligations to the same extent, if any, as the Indebtedness to which it relates is subordinated to the Obligations. No Credit Party shall assume or become subject to any risks or liabilities other than those relating to its business or pursuant to the Loan Documents.

Contingent Obligations and Risks. No Borrower shall enter into any Contingent Obligations or assume, guarantee, endorse, contingently agree to purchase or otherwise become liable for or upon or incur any obligation of any Person (other than any other Borrower); provided, however, that nothing contained in this Section 7.9 shall prohibit any Borrower from endorsing checks in the ordinary course of its business. No Borrower shall assume or become subject to any risks or liabilities other than those relating to its respective Business.

Contingent Obligations and Risks. Except as otherwise expressly permitted by this Agreement, Borrower shall not, and shall not cause or permit NCI to, enter into any Contingent Obligations or assume, guarantee, endorse, contingently agree to purchase or otherwise become liable for or upon or incur any obligation of any Person (other than indemnities to officers and directors of such Person to the extent permitted by applicable law); provided, however, that nothing contained herein shall (a) prohibit Borrower or NCI from endorsing checks in the ordinary course of its business or (b) prohibit NCI from entering into any Blocked Account Agreement or any transactions contemplated thereby, including agreeing to apply distributions received by it from the Company to the payment of the Obligations.