Intercompany Loans. Notwithstanding any provision to the contrary set forth in the Transaction Documents (including, without limitation, clause (s) of the definition of “Eligible Loan” in Annex X), the Guarantor (i) shall not permit any Seller to sell, transfer, assign or otherwise convey any Intercompany Loan to Bunge Funding under the Sale Agreement that has a maturity in excess of six (6) years and (ii) shall either cause a Seller, Bunge Funding or the Trustee to demand repayment of all outstanding principal and accrued interest under each Intercompany Loan or cause a Seller to refinance such amounts by making a new Intercompany Loan to the applicable Obligor within six (6) years from the date of such Intercompany Loan.
Intercompany Loans. (a) Holdings shall cause Collateral Rig Operator and its other Subsidiaries to document all transfers of funds received from the Drilling Contract, or proceeds thereof, that are transferred between the Collateral Rig Operator and any of its Affiliates (other than payments on the Bareboat Charter and ordinary course intercompany xxxxxxxx) as intercompany loans.
(b) The Collateral Rig Owner shall document all transfers of funds received by it under the Bareboat Charter to any of its Affiliates (other than ordinary course intercompany xxxxxxxx and payments of amounts due to the Collateral Rig Operator under the Bareboat Charter) as intercompany loans.
(c) All intercompany loans owed to the Collateral Rig Owner in accordance with clause (b) above, shall (i) be documented in the form of intercompany loan agreements or intercompany notes and (ii) shall be pledged in favor of the Collateral Agent pursuant to an Account and Receivables Pledge Agreement in accordance with clause (8) of the definition of “Collateral and Guaranty Requirements”. All intercompany loans entered into in accordance with clause (a) or (b) above shall be senior debt obligations of the obligors under such intercompany loans and rank equal with the other senior unsecured debt of such obligors.
Intercompany Loans. Upon request by Agent from time to time, promptly provide Agent with written statements, with reasonable detail, of the current balances of the Intercompany Loans. At all times, cause the Intercompany Loans to be evidenced by revolving promissory notes, in form and substance reasonably satisfactory to Agent, which notes are assigned to Agent as security for the Obligations.
Intercompany Loans. The Intercompany Loans and the Intercompany Loan Documents have been duly authorized and approved by all necessary corporate and shareholder action on the part of the parties thereto, and constitute the legal, valid and binding obligations of the parties thereto, enforceable against each of them in accordance with their respective terms, except as may be limited by applicable bankruptcy, insolvency, reorganization, moratorium, or similar laws affecting creditors' rights generally, and by general principles of equity.
Intercompany Loans. (a) Each Borrower may make loans to the other Borrower (and such Borrower may incur the Indebtedness related thereto and repay such Indebtedness) subject to the following terms and conditions:
(i) such loans shall be unsecured and be payable on demand;
(ii) at the time any such intercompany loan is made by any Borrower to any other Borrower and after giving effect to such loan, both the Borrower making the loan and the Borrower receiving the loan shall be Solvent;
(iii) the obligor of such loan shall use the proceeds thereof solely for its own working capital requirements arising in the ordinary course of business;
(iv) each Borrower shall have executed and delivered to each other Borrower, on the Closing Date, a demand promissory note (an "Intercompany Note") to evidence any such intercompany Indebtedness owing at any time by such Borrower to such other Borrowers which Intercompany Notes shall be in form and substance satisfactory to the Agent and pledged to the Agent for the benefit of the Lenders;
(v) each Borrower shall record all intercompany transactions on its books and records in a manner satisfactory to the Agent;
(vi) the obligations of each Borrower under any such Intercompany Notes shall be subordinated to the Obligations of such Borrower hereunder in a manner satisfactory to the Agent; (vii) no Default or Event of Default would occur and be continuing after giving effect to the incurrence of any such proposed intercompany loan; and
Intercompany Loans. Neither the Borrower nor any of its Subsidiaries shall make any loans to any other Subsidiary of the Borrower except to the extent any such loans shall be evidenced by promissory notes which provide that (i) if any acceleration of the Obligations under this Agreement shall occur, the obligations under such promissory note shall immediately become due and payable without any election or action on the part of such Person, and (ii) such promissory notes shall be pledged to the Administrative Agent pursuant to the terms of the Collateral Documents.
Intercompany Loans. Intercompany loans made from time to time under an Intercompany Investment and Pooling Agreement dated as of March 1, 2010 among Integra LifeSciences Shared Services (Ireland) Limited and the Pooling Participants.
Intercompany Loans. Any liabilities or obligations owing to any Affiliate ------------------ of Seller that are not effectively eliminated by means of intercompany adjustments effected in connection with the preparation of the Final Closing Date Balance Sheet and the audit performed in connection therewith; and
Intercompany Loans. On or before Monday, November 7, 2005, Borrower shall deliver to GECC true and complete (including exhibits, schedules, and other attachments) copies of all documentation, including, but not limited to, all promissory notes, loan agreements, other type agreements, ledger entries, and other documents, evidencing each and every intercompany loan or other transaction, financial or otherwise, between Borrower and Xxxxxxxx.
Intercompany Loans. Loans and advances made to the Rig Owners by members of the Group on the conditions that the Loans are subordinated and unsecured in form and substance satisfactory to the Agent;
