Common use of Intercompany Loans/Payments Clause in Contracts

Intercompany Loans/Payments. The Borrower agrees with the Lenders that (i) any payments made by a Guarantor in reduction of its obligation under the Guarantee executed by it, shall reduce dollar for dollar its total obligation to the Borrower for repayment of any Intercompany Loans owed to the Borrower, (ii) it will require that any payments made by a Guarantor that is an indirect Wholly-Owned Subsidiary of the Borrower, in reduction of its obligation under the Guarantee executed by it, shall reduce dollar for dollar its total obligation for repayment of any Intercompany Loans owed to another Guarantor and (iii) except as set forth in Schedule 5.10, neither it nor any Wholly-Owned Subsidiary will demand, enforce or accept any payments on account of any Intercompany Loans owed to the Borrower by any Guarantor at a time when such Guarantor is insolvent or if such payments could reasonably be expected to render such Guarantor insolvent, to leave it with unreasonably small capital for the business in which it is engaged and in which it intends to engage, or to leave it unable to pay its other Indebtedness as the same matures.

Intercompany Loans/Payments. The Borrower Holdings agrees with the Lenders that (i) except as provided in clause (ii), any payments made by a Guarantor in reduction of its obligation under the Guarantee executed by it, shall reduce dollar for dollar its total obligation to the Borrower Borrowers for repayment of any Intercompany Loans owed to the BorrowerBorrowers, (ii) it will require that any payments made by a Guarantor that is an indirect Wholly-Owned Subsidiary of the any Borrower, in reduction of its obligation under the Guarantee executed by it, shall reduce dollar for dollar its total obligation for repayment of any Intercompany Loans owed to another Guarantor and (iii) except as set forth in Schedule 5.10, neither it nor any Wholly-Owned Subsidiary will demand, enforce or accept any payments on account of any Intercompany Loans owed to the either Borrower by any Guarantor other than Northern States Tire, Inc. and Big O Development, Inc. at a time when such Guarantor is insolvent or if such payments could reasonably be expected to render such Guarantor insolvent, to leave it with unreasonably small capital for the business in which it is engaged and in which it intends to engage, or to leave it unable to pay its other Indebtedness as the same matures.

Intercompany Loans/Payments. The Borrower Company agrees with the Lenders each holder of Notes that (i) any payments made by a Subsidiary Guarantor in reduction of its obligation under the Subsidiary Guarantee executed by it, shall reduce dollar for dollar its total obligation to the Borrower Company for repayment of any Intercompany Loans owed to the BorrowerCompany, (ii) it will require that any payments made by a Subsidiary Guarantor that is an indirect a Wholly-Owned Subsidiary of the BorrowerCompany, in reduction of its obligation under the Subsidiary Guarantee executed by it, shall reduce dollar for dollar its total obligation for repayment of any Intercompany Loans owed to another Guarantor other Subsidiary Guarantors and (iii) except as set forth in Schedule 5.105.12, neither it nor any Wholly-Owned Subsidiary of the Company will demand, enforce or accept any payments on account of any Intercompany Loans owed to the Borrower by any Subsidiary Guarantor at a time when such Subsidiary Guarantor is insolvent or if such payments could reasonably be expected to render such Subsidiary Guarantor insolvent, to leave it with unreasonably small capital for the business in which it is engaged and in which it intends to engage, or to leave it unable to pay its other Indebtedness as the same matures.

Intercompany Loans/Payments. The Borrower Holdings agrees with the Lenders that (i) any payments made by a Guarantor in reduction of its obligation under the Guarantee executed by it, shall reduce dollar for dollar its total obligation to the Borrower Borrowers for repayment of any Intercompany Loans owed to the BorrowerBorrowers, (ii) it will require that any payments made by a Guarantor that is an indirect Wholly-Owned Subsidiary of the any Borrower, in reduction of its obligation under the Guarantee executed by it, shall reduce dollar for dollar its total obligation for repayment of any Intercompany Loans owed to another Guarantor and (iii) except as set forth in Schedule 5.105.10 to the March 2003 Credit Agreement, neither it nor any Wholly-Owned Subsidiary will demand, enforce or accept any payments on account of any Intercompany Loans owed to the either Borrower by any Guarantor at a time when such Guarantor is insolvent or if such payments could reasonably be expected to render such Guarantor insolvent, to leave it with unreasonably small capital for the business in which it is engaged and in which it intends to engage, or to leave it unable to pay its other Indebtedness as the same matures.

Intercompany Loans/Payments. The Borrower agrees with the Lenders that (i) any payments made by a Guarantor in reduction of its obligation under the Guarantee executed by it, shall reduce dollar for dollar its total obligation to the Borrower for repayment of any Intercompany Loans owed to the Borrower, (ii) it will require that any payments made by a Guarantor that is an indirect Wholly-Owned Subsidiary of the Borrower, in reduction of its obligation under the Guarantee executed by it, shall reduce dollar for dollar its total obligation for repayment of any Intercompany Loans owed to another Guarantor other Guarantors and (iii) except as set forth in Schedule 5.10, neither it nor any Wholly-Owned Subsidiary will demand, enforce or accept any payments on account of any Intercompany Loans owed to the Borrower by any Guarantor at a time when such Guarantor is insolvent or if such payments could reasonably be expected to render such Guarantor insolvent, to leave it with unreasonably small capital for the business in which it is engaged and in which it intends to engage, or to leave it unable to pay its other Indebtedness as the same matures.