Common use of Debt; Contingent Obligations Clause in Contracts

Debt; Contingent Obligations. No Borrower will, directly or indirectly, create, incur, assume, guarantee or otherwise become or remain directly or indirectly liable with respect to, any Debt, except for Permitted Indebtedness. No Borrower will, directly or indirectly, create, assume, incur or suffer to exist any Contingent Obligations, except for Permitted Contingent Obligations. No Borrower will, directly or indirectly, make any loans or advance any Debt to any Person (except to the extent that Borrowers joint and several obligations hereunder would be deemed to be a loan or advance to the other Borrower).

Appears in 2 contracts

Samples: Credit and Security Agreement (AlerisLife Inc.), Credit and Security Agreement (Emeritus Corp\wa\)

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Debt; Contingent Obligations. No Borrower will, will directly or indirectly, create, incur, assume, guarantee or otherwise become or remain directly or indirectly liable with respect to, any Debt, except for Permitted Indebtedness. No Borrower will, directly or indirectly, create, assume, incur or suffer to exist any Contingent Obligations, except for Permitted Contingent Obligations. No Borrower will, directly or indirectly, make any loans or advance any Debt to any Person (except (i) to the extent that Borrowers Borrowers’ joint and several obligations hereunder would be deemed to be a loan or advance to another Borrower, (ii) for Permitted Indebtedness described in clause (h) of the definition thereof and (iii) other BorrowerPermitted Investments).

Appears in 1 contract

Samples: Credit and Security Agreement (Skilled Healthcare Group, Inc.)

Debt; Contingent Obligations. No Borrower will, directly or indirectly, create, incur, assume, guarantee or otherwise become or remain directly or indirectly liable with respect to, any Debt, except for Permitted Indebtedness. No Borrower will, directly or indirectly, create, assume, incur or suffer to exist any Contingent Obligations, except for Permitted Contingent Obligations. No Borrower will, directly or indirectly, make any loans or advance any Debt to any Person (except (i) to the extent that Borrowers joint and several obligations hereunder would be deemed to be a loan or advance to the another Borrower, (ii) for Permitted Indebtedness) and (iii) other Borrower)Permitted Investments.

Appears in 1 contract

Samples: Credit and Security Agreement (Skilled Healthcare Group, Inc.)

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Debt; Contingent Obligations. No Borrower will, directly or indirectly, create, incur, assume, guarantee or otherwise become or remain directly or indirectly liable with respect to, any Debt, except for Permitted Indebtedness. No Borrower will, directly or indirectly, create, assume, incur or suffer to exist any Contingent Obligations, except for Permitted Contingent Obligations. No Borrower will, directly or indirectly, make any loans or advance any Debt to any Person (except for Permitted Investments to the extent that Borrowers Borrowers’ joint and several obligations hereunder would be deemed to be a loan or advance to the other Borrower).

Appears in 1 contract

Samples: Credit and Security Agreement

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