Common use of Distributions in the Ordinary Course Clause in Contracts

Distributions in the Ordinary Course. In the ordinary course of business each Borrower causes all of the Subsidiaries to make transfers of net cash and cash equivalents upstream to the Borrowers (other than amounts held by Subsidiaries as tenant deposits and for reserves, capital expenditures, leasing commissions, tenant improvements and other working capital purposes), and each Borrower shall continue to follow such ordinary course of business. The Borrowers shall not make net transfers of cash and cash equivalents downstream to the Subsidiaries except in the ordinary course of business consistent with past practice.

Appears in 1 contract

Samples: Credit Agreement (FelCor Lodging Trust Inc)

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Distributions in the Ordinary Course. In the ordinary course of business each Borrower causes all of the Subsidiaries to make transfers of net cash and cash equivalents upstream to the Borrowers (other than amounts held by Subsidiaries as tenant deposits and for reserves, capital expenditures, leasing commissions, tenant improvements and other working capital purposes), and each Borrower shall continue to follow such ordinary course of business. The Borrowers shall not make net transfers of cash and cash equivalents downstream to the Subsidiaries except in the ordinary course of business consistent with past practice.. A/72096682.7

Appears in 1 contract

Samples: Credit Agreement (FelCor Lodging Trust Inc)

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