Employee Loans. Borrower shall not, and shall not permit any Subsidiary of Borrower to, make or accrue any loans or other advances of money to any employee of Borrower or any Subsidiary in excess at any one time of $50,000 in the aggregate for all such loans, provided that any such loans are made only in the ordinary course of Borrower's or such Subsidiary's business.
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Samples: Restructuring Agreement (Wes Acquisition Corp), Credit Agreement (Wahlco Environmental Systems Inc)
Employee Loans. Borrower shall not, not and shall not permit any Subsidiary of Borrower to, to make or accrue any loans or other advances of money to any employee of Borrower or any such Subsidiary in excess at any one time of $50,000 350,000 in the aggregate for all such loansloans and advances, provided that any such which loans are made only in or advances shall bear interest at a rate per annum so as to avoid the ordinary course application of Borrower's or such Subsidiary's businessSection 7872 of the IRC.
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Employee Loans. Borrower shall not, not and shall not permit any Subsidiary of Borrower to, to make or accrue any loans or other advances of money to any director, officer or employee of Borrower or any such Subsidiary in excess which at any one time of exceed an amount equal to (i) $50,000 100,000 with respect to any director, officer or employee, or (ii) $500,000 in the aggregate for with respect to all such loansdirectors, provided that any such loans are made only in the ordinary course officers and employees of Borrower's or such Subsidiary's businessBorrower and its Subsidiaries.
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Samples: Loan Agreement (Quixote Corp)
Employee Loans. Borrower shall not, and shall not permit any Subsidiary of Borrower its Subsidiaries to, make or accrue any loans or other advances of money to any employee of Borrower or such Subsidiary, except for loans by Borrower or any Active Subsidiary to employees not in excess at any one time outstanding of $50,000 300,000 in the aggregate for all such loans, provided PROVIDED that any such loans are made only in the ordinary course of Borrower's or such Active Subsidiary's businessbusiness consistent with past practices.
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