Guarantees and Investments. None of the Borrowers will, nor will any Borrower permit any Subsidiary to, make or permit to remain outstanding any loan or advance to, or guarantee or endorse (except as a result of endorsing negotiable instruments for deposit or collection in the ordinary course of business) or otherwise assume or remain liable with respect to any obligation of, or make or own any investment in, or acquire (except in the ordinary course of business) the properties or assets of, any Person, except: (a) Extensions of credit by a Borrower or any Subsidiary in the ordinary course of business in accordance with customary trade practices (including the acceptance of promissory notes in respect of delinquent Accounts); (b) The presently outstanding Investments, loans and advances, if any, and the presently existing guarantees, if any, of any Borrower and its Subsidiaries all to the extent set forth on EXHIBIT 7-19 attached hereto; provided however, notwithstanding any provision contained in this Agreement to the contrary, it is hereby agreed that the Lead Borrower may, at any time, transfer, assign or otherwise contribute to its 401(k) profit sharing plan any or all of the Telica/Lucent Shares (as defined in EXHIBIT 7-19); (c) Direct obligations of the United States of America or any department or agency thereof maturing not more than one year from the date of acquisition thereof; (d) Certificates of deposit, repurchase agreements, time deposits (including sweep accounts), demand deposits, bankers' acceptances, money market deposits or other similar types of Investments maturing not more than one year from the date of acquisition thereof and evidencing direct obligations of any Lender or any lender within the United States of America having capital surplus and undivided profits in excess of $50,000,000; (e) Investments in commercial paper maturing within ninety (90) days from the date of acquisition thereof and having, at such date of acquisition, rated at least P-1 by Xxxxx'x or A-1 by S&P, or carrying an equivalent rating by a nationally recognized rating agency ; (f) Any mutual fund or other pooled investment vehicle which invests principally in obligations described in subparagraphs (c), (d) or (e) above and having, at the date of investment in such fund or vehicle, one of the two highest credit ratings from Xxxxx'x or S&P; (g) Equity investments by any Borrower's wholly-owned Subsidiaries in any other wholly-owned Subsidiary and of a Borrower in any of its wholly-owned Subsidiaries;
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Guarantees and Investments. None of the Borrowers will, nor will any Borrower permit any Subsidiary to, make or permit to remain outstanding any loan or advance to, or guarantee or endorse (except as a result of endorsing negotiable instruments for deposit or collection in the ordinary course of business) or otherwise assume or remain liable with respect to any obligation of, or make or own any investment in, or acquire (except in the ordinary course of business) the properties or assets of, any Person, except:
(a) Extensions of credit by a Borrower or any Subsidiary in the ordinary course of business in accordance with customary trade practices (including the acceptance of promissory notes in respect of delinquent Accounts);
(b) The presently outstanding Investments, loans and advances, if any, and the presently existing guarantees, if any, of any Borrower and its Subsidiaries Subsidiaries, all to the extent set forth on EXHIBIT 76-19 attached hereto; provided however, notwithstanding any provision contained in this Agreement to the contrary, it is hereby agreed that the Lead Borrower may, at any time, transfer, assign or otherwise contribute to its 401(k) profit sharing plan any or all of the Telica/Lucent Shares (as defined in EXHIBIT 7-19);
(c) Direct obligations of the United States of America or any department or agency thereof maturing not more than one year from the date of acquisition thereof;
(d) Certificates of deposit, repurchase agreements, time deposits (including sweep accounts), demand deposits, bankers' ’ acceptances, money market deposits or other similar types of Investments maturing not more than one year from the date of acquisition thereof and evidencing direct obligations of any Lender or any lender within the United States of America having capital surplus and undivided profits in excess of $50,000,000;
(e) Investments in commercial paper maturing within ninety (90) days from the date of acquisition thereof and having, at such date of acquisition, rated at least P-1 by Xxxxx'x Mxxxx’x or A-1 by S&P, or carrying an equivalent rating by a nationally recognized rating agency agency;
(f) Any mutual fund or other pooled investment vehicle which invests principally in obligations described in subparagraphs (c), (d) or (e) above and having, at the date of investment in such fund or vehicle, one of the two highest credit ratings from Xxxxx'x Mxxxx’x or S&P;
(g) Equity investments by any Borrower's ’s wholly-owned Subsidiaries in any other wholly-owned Subsidiary and of a Borrower in any of its wholly-owned Subsidiaries;
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Guarantees and Investments. None of the Borrowers will, nor will any Borrower permit any Subsidiary to, make or permit to remain outstanding any loan or advance to, or guarantee or endorse (except as a result of endorsing negotiable instruments for deposit or collection in the ordinary course of business) or otherwise assume or remain liable with respect to any obligation of, or make or own any investment in, or acquire (except in the ordinary course of business) the properties or assets of, any Person, except:
(a) Extensions of credit by a Borrower or any Subsidiary in the ordinary course of business in accordance with customary trade practices (including the acceptance of promissory notes in respect of delinquent Accounts);
(b) The presently outstanding Investments, loans and advances, if any, and the presently existing guarantees, if any, of any Borrower and its Subsidiaries Subsidiaries, all to the extent set forth on EXHIBIT 75-19 attached hereto; provided however, notwithstanding any provision contained in this Agreement to the contrary, it is hereby agreed that the Lead Borrower may, at any time, transfer, assign or otherwise contribute to its 401(k) profit sharing plan any or all of the Telica/Lucent Shares (as defined in EXHIBIT 7-19);
(c) Direct obligations of the United States of America or any department or agency thereof maturing not more than one year from the date of acquisition thereof;
(d) Certificates of deposit, repurchase agreements, time deposits (including sweep accounts), demand deposits, bankers' acceptances, money market deposits or other similar types of Investments maturing not more than one year from the date of acquisition thereof and evidencing direct obligations of any Lender or any lender within the United States of America having capital surplus and undivided profits in excess of $50,000,000;
(e) Investments in commercial paper maturing within ninety (90) days from the date of acquisition thereof and having, at such date of acquisition, rated at least P-1 by Xxxxx'x Moody's or A-1 by S&P, or carrying an equivalent rating by a nationally recognized nationalxx xxxxgnized rating agency agency;
(f) Any mutual fund or other pooled investment vehicle which invests principally in obligations described in subparagraphs (c), (d) or (e) above and having, at the date of investment in such fund or vehicle, one of the two highest credit ratings from Xxxxx'x Moody's or S&PS & P;
(g) Equity investments by any Borrower's whollywholxx-owned xxxxd Subsidiaries in any other wholly-owned Subsidiary and of a Borrower in any of its wholly-owned Subsidiaries;
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Guarantees and Investments. None of the Borrowers will, nor will any Borrower permit any Subsidiary to, make or permit to remain outstanding any loan or advance to, or guarantee or endorse (except as a result of endorsing negotiable instruments for deposit or collection in the ordinary course of business) or otherwise assume or remain liable with respect to any obligation of, or make or own any investment in, or acquire (except in the ordinary course of business) the properties or assets of, any Person, except:
(a) Extensions of credit by a Borrower or any Subsidiary in the ordinary course of business in accordance with customary trade practices (including the acceptance of promissory notes in respect of delinquent Accounts);
(b) The presently outstanding Investmentsinvestments, loans and advances, if any, and the presently existing guarantees, if any, of any Borrower and its Subsidiaries all to the extent set forth on EXHIBIT 7-19 attached hereto; hereto and any renewal, extension or refunding thereof, provided howeverthat (i) the aggregate principal amount thereof is not at any time increased, notwithstanding any provision contained in this Agreement (ii) no material terms applicable thereto shall be more favorable to the contraryrenewal or extension borrower or recipient, it is hereby agreed as the case may be, than the terms that are applicable to the Lead Borrower mayborrower or recipient, at any timeas the case may be, transfer, assign or otherwise contribute to its 401(kon the date hereof and (iii) profit sharing plan any or all the interest rate (if any) applicable thereto shall be a market interest rate as of the Telica/Lucent Shares (as defined in EXHIBIT 7-19)time of such renewal or extension;
(c) Direct obligations of the United States of America or any department or agency thereof maturing not more than one year from the date of acquisition thereof;
(d) Certificates of deposit, repurchase agreements, time deposits (including sweep accounts), demand deposits, bankers' acceptances, money market deposits or other similar types of Investments investments maturing not more than one year from the date of acquisition thereof and evidencing direct obligations of any Lender or any lender within the United States of America having capital surplus and undivided profits in excess of $50,000,000;
(e) Investments in commercial paper maturing within ninety (90) days from the date of acquisition thereof and having, at such date of acquisition, rated at least P-1 by the highest credit rating obtainable from Xxxxx'x or A-1 by S&P, or carrying an equivalent rating by a nationally recognized rating agency ;
(f) Any mutual fund or other pooled investment vehicle which invests principally in obligations described in subparagraphs (c), (d) or (e) above and having, at the date of investment in such fund or vehicle, one of the two highest credit ratings from Xxxxx'x or S&P;
(g) Equity investments by any Borrower's wholly-owned Subsidiaries in any other wholly-owned Subsidiary and of a Borrower in any of its wholly-wholly- owned Subsidiaries;
(h) Revolving Credit Loans and Term Loan;
(i) Guarantees by a Borrower of Indebtedness and other obligations incurred by Subsidiaries to the extent permitted by Section 7-7;
(j) Capital Expenditures to the extent permitted by Section 7-31; and
(k) Guarantees by any Borrower of the Liabilities.
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Samples: Loan and Security Agreement (Dynamics Research Corp)
Guarantees and Investments. None of the Borrowers will, nor will any Borrower permit any Subsidiary to, make or permit to remain outstanding any loan or advance to, or guarantee or endorse (except as a result of endorsing negotiable instruments for deposit or collection in the ordinary course of business) or otherwise assume or remain liable with respect to any obligation of, or make or own any investment in, or acquire (except in the ordinary course of business) the properties or assets of, any Person, except:
(a) Extensions of credit by a Borrower or any Subsidiary in the ordinary course of business in accordance with customary trade practices (including the acceptance of promissory notes in respect of delinquent Accounts);
(b) The presently outstanding Investmentsinvestments, loans and advances, if any, and the presently existing guarantees, if any, of any Borrower and its Subsidiaries all to the extent set forth on EXHIBIT 7-19 attached hereto; hereto and any renewal, extension -66- or refunding thereof, provided howeverthat (i) the aggregate principal amount thereof is not at any time increased, notwithstanding any provision contained in this Agreement (ii) no material terms applicable thereto shall be more favorable to the contraryrenewal or extension borrower or recipient, it is hereby agreed as the case may be, than the terms that are applicable to the Lead Borrower mayborrower or recipient, at any timeas the case may be, transfer, assign or otherwise contribute to its 401(kon the date hereof and (iii) profit sharing plan any or all the interest rate (if any) applicable thereto shall be a market interest rate as of the Telica/Lucent Shares (as defined in EXHIBIT 7-19)time of such renewal or extension;
(c) Direct obligations of the United States of America or any department or agency thereof maturing not more than one year from the date of acquisition thereof;
(d) Certificates of deposit, repurchase agreements, time deposits (including sweep accounts), demand deposits, bankers' acceptances, money market deposits or other similar types of Investments investments maturing not more than one year from the date of acquisition thereof and evidencing direct obligations of any Lender or any lender within the United States of America having capital surplus and undivided profits in excess of $50,000,000;
(e) Investments in commercial paper maturing within ninety (90) days from the date of acquisition thereof and having, at such date of acquisition, rated at least P-1 by Xxxxx'x or A-1 by S&P, or carrying an equivalent rating by a nationally recognized rating agency agency;
(f) Any mutual fund or other pooled investment vehicle which invests principally in obligations described in subparagraphs (c), (d) or (e) above and having, at the date of investment in such fund or vehicle, one of the two highest credit ratings from Xxxxx'x or S&P;
(g) Equity investments by any Borrower's wholly-owned Subsidiaries in any other wholly-owned Subsidiary and of a Borrower in any of its wholly-owned Subsidiaries;
(h) Revolving Credit Loans and Term Loan;
(i) Guarantees by a Borrower of Indebtedness and other obligations incurred by Subsidiaries to the extent permitted by Section 7-7;
(j) Capital Expenditures to the extent permitted by Section 7-31;
(k) Guarantees by any Borrower of the Liabilities;
(l) Any new Capital Leases permitted under Section 7-20;
(m) Mergers or consolidations permitted under Section 7-21:
(n) Any Investment relating to any deferred portion of the purchase price in connection with a permitted sale;
(o) Permitted Acquisitions; and
(p) Any other Investments or Guarantees in an amount not to exceed $2,000,000 in the aggregate outstanding at any time.
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