Common use of Employee Loans and Affiliate Transactions Clause in Contracts

Employee Loans and Affiliate Transactions. (a) No Credit Party shall enter into or be a party to any transaction with any Affiliate thereof except (i) the incurrence of Permitted Intercompany Indebtedness, (ii) those transactions described in Disclosure Schedule 6.4 and (iii) in the ordinary course of and pursuant to the reasonable requirements of such Credit Party's business and upon fair and reasonable terms that are no less favorable to such Credit Party than would be obtained in a comparable arm's length transaction with a Person not an Affiliate of such Credit Party.

Appears in 7 contracts

Samples: Credit Agreement (Rand Logistics, Inc.), Credit Agreement (Rand Logistics, Inc.), Credit Agreement (Rand Logistics, Inc.)

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Employee Loans and Affiliate Transactions. (a) No Credit Party shall enter into or be a party to any transaction with any other Credit Party or any Affiliate thereof except (i) the incurrence of Permitted Intercompany Indebtedness, (ii) those transactions described in Disclosure Schedule 6.4 and (iii) in the ordinary course of and pursuant to the reasonable requirements of such Credit Party's business and upon fair and reasonable terms that are no less favorable to such Credit Party than would be obtained in a comparable arm's length transaction with a Person not an Affiliate of such Credit Party. All such transactions existing as of the date hereof are described in Disclosure Schedule (6.4(a)).

Appears in 3 contracts

Samples: Credit Agreement (Black Warrior Wireline Corp), Credit Agreement (Black Warrior Wireline Corp), Credit Agreement (Black Warrior Wireline Corp)

Employee Loans and Affiliate Transactions. (a) No Credit Party shall enter into or be a party to any transaction with any other Credit Party or any Affiliate thereof except (i) the incurrence of Permitted Intercompany Indebtedness, (ii) those transactions described in Disclosure Schedule 6.4 and (iii) in the ordinary course of and pursuant to the reasonable requirements of such Credit Party's ’s business and upon fair and reasonable terms that are no less favorable to such Credit Party than would be obtained in a comparable arm's ’s length transaction with a Person not an Affiliate of such Credit Party. All such transactions existing as of the date hereof are described in Disclosure Schedule 6.4(a).

Appears in 2 contracts

Samples: Credit Agreement (Omni Energy Services Corp), Credit Agreement (Omni Energy Services Corp)

Employee Loans and Affiliate Transactions. (a) No Credit Party shall enter into or be a party to any transaction with any Affiliate thereof except (i) the incurrence of Permitted Intercompany Indebtedness, (ii) those transactions described in Disclosure Schedule 6.4 and (iii) in the ordinary course of and pursuant to the reasonable requirements of such Credit Party's business and upon fair and reasonable terms that are no less favorable to such Credit Party than would be obtained in a comparable arm's length transaction with a Person not an Affiliate of such Credit Party. All such transactions existing as of the date hereof are described on DISCLOSURE SCHEDULE (6.4(A)).

Appears in 1 contract

Samples: Credit Agreement (Hi Rise Recycling Systems Inc)

Employee Loans and Affiliate Transactions. (a) No Credit Party shall enter into or be a party to any transaction with any other Credit Party or any Affiliate thereof except (i) the incurrence of Permitted Intercompany Indebtedness, (ii) those transactions described in Disclosure Schedule 6.4 and (iii) in the ordinary course of and pursuant to the reasonable requirements of such Credit Party's business and upon fair and reasonable terms that are no less favorable to such Credit Party than would be obtained in a comparable arm's length transaction with a Person not an Affiliate of such Credit Party. All such transactions existing as of the date hereof are described in Disclosure Schedule 6.4(a).

Appears in 1 contract

Samples: Credit Agreement (Uti Worldwide Inc)

Employee Loans and Affiliate Transactions. (a) 1. No Credit Party shall enter into or be a party to any transaction with any Affiliate thereof except (i) the incurrence of Permitted Intercompany Indebtedness, (ii) those transactions described in Disclosure Schedule 6.4 and (iii) in the ordinary course of and pursuant to the reasonable requirements of such Credit Party's business and upon fair and reasonable terms that are no less favorable to such Credit Party than would be obtained in a comparable arm's length transaction with a Person not an Affiliate of such Credit Party.

Appears in 1 contract

Samples: Credit Agreement (Rand Acquisition CORP)

Employee Loans and Affiliate Transactions. (a) No Credit Party shall enter into or be a party to any transaction with any other Credit Party or any Affiliate thereof (including, without limitation, Sovereign), except (i) the incurrence of Permitted Intercompany Indebtedness, (ii) those transactions described in Disclosure Schedule 6.4 and (iii) in the ordinary course of and pursuant to the reasonable requirements of such Credit Party's ’s business and upon fair and reasonable terms that are no less favorable to such Credit Party than would be obtained in a comparable arm's ’s length transaction with a Person not an Affiliate of such Credit Party. All such transactions with Affiliates (other than Credit Parties) existing as of the Closing Date are described in Disclosure Schedule 6.4(a).

Appears in 1 contract

Samples: Credit Agreement (Ddi Corp)

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Employee Loans and Affiliate Transactions. (a) No Credit Party shall enter into or be a party to any transaction with any Affiliate thereof which is not a Credit Party except (i) the incurrence of Permitted Intercompany Indebtedness, (ii) those transactions described in Disclosure Schedule 6.4 and (iii) in the ordinary course of and pursuant to the reasonable requirements of such Credit Party's business and upon fair and reasonable terms that are no less favorable to such Credit Party than would be obtained in a comparable arm's length transaction with a Person not an Affiliate of such Credit Party. All such transactions existing as of the date hereof are described in Disclosure Schedule (6.4(a)).

Appears in 1 contract

Samples: Credit Agreement (Guardian International Inc)

Employee Loans and Affiliate Transactions. (a) No Credit Party shall enter into or be a party to any transaction with any Affiliate thereof except (i) the incurrence of Permitted Intercompany Indebtedness, (ii) those transactions described in Disclosure Schedule 6.4 and (iii) in the ordinary course of and pursuant to the reasonable requirements of such Credit Party's ’s business and upon fair and reasonable terms that are no less favorable to such Credit Party than would be obtained in a comparable arm's ’s length transaction with a Person not an Affiliate of such Credit Party.

Appears in 1 contract

Samples: Credit Agreement (Rand Logistics, Inc.)

Employee Loans and Affiliate Transactions. (a) No Credit Party shall enter into or be a party to any transaction with any other Credit Party or any Affiliate thereof except (i) the incurrence of Permitted Intercompany Indebtedness, (ii) those transactions described in Disclosure Schedule 6.4 and (iii) in the ordinary course of and pursuant to the reasonable requirements of such Credit Party's ’s business and upon fair and reasonable terms that are no less favorable to such Credit Party than would be obtained in a comparable arm's ’s length transaction with a Person not an Affiliate of such Credit Party. All such transactions existing as of the date hereof are described in Disclosure Schedule (6.4(a)).

Appears in 1 contract

Samples: Credit Agreement (Black Warrior Wireline Corp)

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