Common use of Employee Loans and Affiliate Transactions Clause in Contracts

Employee Loans and Affiliate Transactions. (a) Except as otherwise expressly permitted in this Section 6 with respect to Affiliates, no Credit Party shall enter into or be a party to any transaction with any other Credit Party or any Affiliate thereof except 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. In addition, if any such transaction or series of related transactions involves payments in excess of $100,000 in the aggregate, the terms of these transactions must be disclosed in advance to Agent and Lenders. All such transactions existing as of the date hereof are described in Disclosure Schedule (6.4(a)). (b) No Credit Party shall enter into any lending or borrowing transaction with any employees of any Credit Party, except loans to its respective employees on an arm’s-length basis in the ordinary course of business consistent with past practices for travel and entertainment expenses, relocation costs and similar purposes and stock option financing up to a maximum of $50,000 to any employee and up to a maximum of $250,000 in the aggregate at any one time outstanding.

Employee Loans and Affiliate Transactions. (a) Except as otherwise expressly permitted in this Section 6 --------- with respect to Affiliates, no Credit Party shall enter into or be a party to any transaction with any other Credit Party or any Affiliate thereof except 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. In addition, if any such transaction or series of related transactions involves payments in excess of $100,000 25,000 in the aggregate, the terms of these transactions must be disclosed in advance to Agent and LendersLender. All such transactions existing as of the date hereof are described in Disclosure Schedule (6.4(a)).. ---------------------------- (b) No Except as otherwise expressly permitted in Section 6.2, no Credit Party shall enter into any lending or borrowing transaction with any employees of any Credit Party, except loans to its respective employees on an arm’s-arm's length basis in the ordinary course of business consistent with past practices for travel and entertainment expenses, relocation costs and similar purposes and stock option financing up to a maximum of $50,000 150,000 to any employee and up to a maximum of $250,000 150,000 in the aggregate at any one time outstanding.

Employee Loans and Affiliate Transactions. (a) Except as otherwise expressly permitted in this Section 6 with respect to Affiliates, no Credit Party shall enter into or be a party to any transaction with any other Credit Party or any Affiliate thereof except 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. In addition, if any such transaction or series of related transactions involves payments in excess of $100,000 1,000,000 in the aggregate, the terms of these transactions must be disclosed in advance to Agent Agents and Lenders. All such transactions existing as of the date hereof are described in on Disclosure Schedule (6.4(a)).. --------------------------- (b) No Credit Party shall enter into any lending or borrowing transaction with any employees of any Credit Party, except loans to its their respective employees on an arm’sarm's-length basis in the ordinary course of business consistent with past practices for travel and entertainment expenses, relocation costs and similar purposes and stock option financing up to a maximum of $50,000 250,000 to any employee and up to a maximum of $250,000 1,500,000 in the aggregate at any one time outstanding.

Employee Loans and Affiliate Transactions. (a) Except as otherwise expressly permitted in this Section 6 with respect to Affiliatesfor the Supply Agreement and the Administrative Services Agreement, no Credit Party shall enter into or be a party to any transaction with any other Credit Party or any Affiliate thereof except 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. In addition, if any such transaction or series of related transactions entered into after the Closing Date involves payments in excess of $100,000 10,000 in the aggregate, the terms of these transactions must be disclosed in advance to Agent and Lenders. All such transactions existing as of the date hereof are described in Disclosure Schedule (6.4(a)). (b) No Credit Party shall enter into any lending or borrowing transaction with any employees of any Credit Party, except loans to its respective employees on an arm’s-length basis in the ordinary course of business consistent with past practices for travel and entertainment expenses, relocation costs and similar purposes and stock option financing up to a maximum of $50,000 20,000 to any employee and up to a maximum of $250,000 50,000 in the aggregate at any one time outstanding.

Employee Loans and Affiliate Transactions. (a) Except as otherwise expressly permitted in this Section 6 with respect to Affiliates, no Credit Party Borrower shall not after the date hereof enter into or be a party to any transaction with any other Credit Party or any Affiliate thereof except in the ordinary course of and pursuant to the reasonable requirements of such Credit Party’s Borrower's business and upon fair and reasonable terms that are no less favorable to such Credit Party Borrower than would be obtained in a comparable arm’s 's length transaction with a Person not an Affiliate of such Credit PartyBorrower. In addition, if any such transaction or series of related transactions after the date hereof involves payments in excess of $100,000 50,000 in the aggregate, the terms of these transactions must be disclosed in advance to Agent and Lenders. All such transactions existing as of the date hereof are described in Disclosure Schedule (6.4(a)). (b) No Credit Party Borrower shall not enter into any lending or borrowing transaction with any employees of any Credit Party, except loans to its respective employees on an arm’sarm's-length basis in the ordinary course of business consistent with past practices for travel and entertainment expenses, relocation costs costs, employee issued equipment and similar purposes and stock option financing up to a maximum of $50,000 15,000 to any employee and up to a maximum of $250,000 50,000 in the aggregate at any one time outstanding.

Employee Loans and Affiliate Transactions. (a) Except as otherwise expressly permitted in this Section SECTION 6 with respect to Affiliates, no Credit Party shall enter into or be a party to any transaction with any other Credit Party or any Affiliate thereof except 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. In addition, if any such transaction or series of related transactions involves payments in excess of $100,000 in the aggregate, the terms of these transactions must be disclosed in advance to Agent and Lenders. All such transactions existing as of the date hereof are described in Disclosure Schedule DISCLOSURE SCHEDULE (6.4(a)). (b) No Credit Party shall enter into any lending or borrowing transaction with any employees of any Credit Party, except loans to its respective employees on an arm’s-arm's length basis in the ordinary course of business consistent with past practices for travel and entertainment expenses, relocation costs and similar purposes and stock option financing up to a maximum of $50,000 to any employee and up to a maximum of $250,000 100,000 in the aggregate at any one time outstanding.