Common use of Inter-Company Loans Clause in Contracts

Inter-Company Loans. With the purchase of the Leases, the Company has acquired the right to hold and apply in accordance with the provisions of certain of the Leases, security deposits in the amounts [indicated on Schedule II of Exhibit A to this Agreement]. The Company may from time to time, to the extent permitted by law, lend such security deposits and any amounts disbursed to the Company pursuant to Sections 3.03(b) or 6.06 of the Indenture to the Seller (each such advance, an "Inter-Company Loan"). Each Inter-Company Loan shall be on a demand basis, shall bear interest at an annual rate equal to the Prime Rate plus one percent, shall be in the form attached hereto as Exhibit B and shall otherwise be on such arm's-length terms and conditions as the Company and the Seller may agree.

Appears in 3 contracts

Samples: Sales and Servicing Agreement (Copelco Capital Funding Corp X), Sales and Servicing Agreement (Copelco Capital Funding Corp X), Sales and Servicing Agreement (Copelco Capital Funding Corp X)

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Inter-Company Loans. With the purchase contribution of the Leases, the Company Transferor has acquired the right to hold and apply in accordance with the provisions of certain of the Leases, security deposits in the amounts [indicated on Schedule II of Exhibit A to this Agreement]deposits. The Company Transferor may from time to time, to the extent permitted by law, lend such security deposits and any amounts lent to the Transferor which were disbursed to the Company Issuer pursuant to Sections 3.03(b), 3.04(c) or 6.06 of the Indenture to the Seller (each such advance, an "Inter-Company Loan"). Each Inter-Company Loan shall be on a demand basis, shall bear interest at an annual rate equal to the Prime Rate plus one percent, shall be in the form attached hereto as Exhibit B A hereto and shall otherwise be on such arm's-length terms and conditions as the Company Transferor and the Seller may agree.

Appears in 1 contract

Samples: Contribution and Sale Agreement (Charter Equipment Lease 1998-1 LLC)

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