INTER-COMPANY NOTES RECEIVABLE Sample Clauses
The INTER-COMPANY NOTES RECEIVABLE clause defines the terms and conditions under which one company within a corporate group extends credit to another affiliated company, typically in the form of a promissory note. This clause outlines the obligations of the borrowing company to repay the note, including interest rates, repayment schedules, and any collateral requirements. Its core practical function is to formalize intra-group lending arrangements, ensuring clear documentation and enforceability of debts between related entities, which helps manage financial relationships and compliance with accounting or tax regulations.
INTER-COMPANY NOTES RECEIVABLE. The loan obligations of any Borrower Entity to any Credit Party which are in excess of $10,000,000 shall be evidenced by Inter-Company Notes pledged to the Agent to secure the Obligations.
INTER-COMPANY NOTES RECEIVABLE. The obligations of any Borrower Entity that owes other Borrower Entities, in the aggregate, the amount of Five Million and No/100 Dollars ($5,000,000.00) or more, shall be evidenced by Inter-Company Notes pledged to Agent to secure the Obligations.