Investments, Acquisitions, Loans and Advances. The Borrower shall not, nor shall it permit any Subsidiary to (i) directly or indirectly, make, retain or have outstanding any investments (whether through the purchase of stock or obligations or otherwise) in any Person, real property or improvements on real property, or any loans, advances, lines of credit, mortgage loans or other financings (including pursuant to sale/leaseback transactions) to any other Person, or (ii) acquire any real property, improvements on real property or all or any substantial part of the assets or business of any other Person or division thereof; provided, however, that the foregoing shall not apply to nor operate to prevent, with respect to the Borrower or any Subsidiary, any of the following:
(a) investments in direct obligations of the United States of America or of any agency or instrumentality thereof whose obligations constitute full faith and credit obligations of the United States of America, provided that any such obligations shall mature within one (1) year of the date of issuance thereof;
(b) investments in commercial paper with a Rating of at least P-1 by Mxxxx’x and at least A-1 by S&P maturing within one (1) year of the date of issuance thereof;
(c) investments in certificates of deposit issued by any Lender or by any United States commercial bank having capital and surplus of not less than $100,000,000 which have a maturity of one (1) year or less;
(d) investments in repurchase obligations with a term of not more than seven (7) days for underlying securities of the types described in subsection (a) above entered into with any bank meeting the qualifications specified in subsection (c) above, provided all such agreements require physical delivery of the securities securing such repurchase agreement, except those delivered through the Federal Reserve Book Entry System;
(e) investments in money market funds that invest solely, and which are restricted by their respective charters to invest solely, in investments of the type described in the immediately preceding subsections (a), (b), (c), and (d) above;
(f) the Borrower’s investments from time to time in Stock and Stock Equivalents (including, for the avoidance of doubt, marketable securities) issued by any real estate company or real estate investment trust (“REIT Shares”); provided that at least 90% of such REIT Shares shall issued by real estate companies listed on the New York Stock Exchange, Inc., the NYSE AMEX or the NASDAQ Stock Market;
(g) the Borrower’s inv...
Investments, Acquisitions, Loans and Advances. The Borrower shall not, nor shall it permit any Subsidiary to (i) directly or indirectly, make, retain or have outstanding any investments (whether through the purchase of stock or obligations or otherwise) in any Person, real property or improvements on real property, or any loans, advances, lines of credit, mortgage loans or other financings (including pursuant to sale/leaseback transactions) to any other Person, or (ii) acquire any real property, improvements on real property or all or any substantial part of the assets or business of any other Person or division thereof; provided, however, that the foregoing shall not apply to nor operate to prevent, with respect to the Borrower or any Subsidiary, any of the following:
(a) investment in Cash Equivalents;
(b) investments existing or contemplated on the date hereof and listed on Schedule 8.8 hereto;
(c) investments in derivatives and hxxxxx made in the ordinary course of the such Person’s business in connection with managing risk for which the Borrower, any Guarantor or any Subsidiary has actual exposure (and not for speculative purposes) including, without limitation, Hedging Agreements;
(d) investments in Permitted Acquisitions;
(e) investments by the Borrower in one or more Guarantors or by a Guarantor in the Borrower or one or more other Guarantors;
(f) investments in Mortgage Receivables not to exceed $5,000,000 in the aggregate;
(g) investments in marketable securities available for sale; or
(h) any other investments otherwise approved by the Required Lenders. In determining the amount of investments, acquisitions, loans, and advances permitted under this Section, investments and acquisitions shall always be taken at the book value (as defined in GAAP) thereof, and loans and advances shall be taken at the principal amount thereof then remaining unpaid.
Investments, Acquisitions, Loans and Advances. The Borrower will not, and will not cause or permit any of its Restricted Subsidiaries to, purchase, hold or acquire any Capital Stock, evidences of indebtedness or other securities of, make or permit to exist any loans or advances to, or make or permit to exist any investment or any other interest in, or make any acquisition of assets of any other Person as a going concern (each, an "Investment"), except:
(a) Investments existing on the date hereof in the Capital Stock set forth on Schedule 6.04 hereto;
(b) Permitted Investments;
(c) Investments consisting of loans or advances to (i) a Wholly Owned Subsidiary that is a Restricted Subsidiary, provided that such loans or advances are not subordinated to any other Indebtedness or other obligations of such Restricted Subsidiary and rank pari passu with all senior, unsecured Indebtedness of such Restricted Subsidiary, or (ii) employees of the Borrower or the Wholly Owned Subsidiaries that are Restricted Subsidiaries, provided that such loans or advances are made in the ordinary course of business and in accordance with company policy, and provided further that the proceeds of such loan or advance are used to finance employee related expenses (including relocation expenses and travel and entertainment expenses);
(d) additional equity Investments in any Wholly Owned Subsidiary of the Borrower that is also a Restricted Subsidiary, provided that, immediately after giving effect thereto, (i) the ratio of such Restricted Subsidiary's consolidated liabilities (less borrowings by such Restricted Subsidiary allowed and outstanding under this Agreement, deferred compensation, deferred income and allocation of income to minority interests in earnings of consolidated subsidiaries) to such Restricted Subsidiary's consolidated assets (determined in accordance with GAAP) shall be less than 1.00 to 4.00 and (ii) the ratio of Consolidated Liabilities (less borrowings allowed and outstanding under this Agreement, deferred compensation, deferred income and allocation of income to minority interests in earnings of consolidated subsidiaries) to Consolidated Assets shall be less than 1.00 to 4.00;
(e) Investments consisting of non-cash consideration received in connection with a sale or disposition of assets permitted under Section 6.05 hereof; and
(f) so long as there exists no Default or Event of Default at the time any such Investment is made, Investments (other than Investments described in clauses (a) through (e) above) to the...
Investments, Acquisitions, Loans and Advances. No Loan Party shall, nor shall it permit any Subsidiary to (i) directly or indirectly, make, retain or have outstanding any investments (whether through the purchase of Stock or obligations or otherwise) in any Person, real property or improvements on real property, or any loans, advances, lines of credit, mortgage loans, other financings (including pursuant to sale/leaseback transactions) to any other Person, or Guarantee or assumption of any such loans, advances, lines of credit, mortgage loans or other financings (including pursuant to sale/leaseback transactions) to any other Person, or (ii) acquire any real property, improvements on real property or all or any substantial part of the assets or business of any other Person or division thereof (collectively, “Investments”); provided, however, that the foregoing shall not apply to nor operate to prevent, with respect to any Loan Party or any Subsidiary, any of the following:
(a) Permitted Investments and Investments in cash and Cash Equivalents and 1031 Cash Proceeds;
(b) Parent’s Investments from time to time in the Borrower, the Borrower’s Investments from time to time in its Subsidiaries, and Investments made from time to time by a Subsidiary in one or more of its Subsidiaries (including, without limitation, any Investment in the form of the purchase or other acquisition of the ownership interests of any non-wholly owned Subsidiary resulting in such Subsidiary becoming a wholly-owned Subsidiary);
(c) intercompany loans and advances made from time to time among the Borrower and its Subsidiaries;
(d) Investments from time to time in individual Real Properties (including Eligible Properties), portfolios of Real Properties (including Eligible Properties) or in entities which own such individual Real Properties (including Eligible Properties), provided that such Investment does not cause a violation of the financial covenants set forth in Section 8.20 hereof or clauses (e), (f) or (g) below;
(e) Investments in Joint Ventures (including, without limitation, Investments consisting of loans, advances or other extensions of credit in the ordinary course of business to third party developers with respect to such Joint Venture);
(f) Investments in Development Assets;
(g) Investments in Land Assets;
(h) Investments in deposit account and securities accounts opened in the ordinary course of business and in compliance with the terms of this Agreement;
(i) Investments pursuant to Hedging Agreements that are not othe...
Investments, Acquisitions, Loans and Advances. The Borrower shall not, nor shall it permit any Borrower Subsidiary to, directly or indirectly, make, retain or have outstanding any investments (whether through purchase of stock or obligations or otherwise) in, or loans or advances to (other than for travel advances and other similar cash advances made to employees in the ordinary course of business), any other Person, or acquire all or any substantial part of the assets or business of any other Person or division thereof; provided, however, that the foregoing shall not apply to nor operate to prevent:
Investments, Acquisitions, Loans and Advances. The Borrower es will not, and will not cause or permit any of its Subsidiaries to, purchase, hold or acquire any Capital Stock, evidences of indebtedness (other than restructured receivables) or other securities of, make or permit to exist any loans or advances to, or make or permit to exist any investment or any other interest in, or make any acquisition of assets of any other Person as a going concern, or create any Subsidiary (each, an "Investment"), except:
Investments, Acquisitions, Loans and Advances. Neither Borrower shall, nor shall they permit any Borrower Subsidiary to, make or retain any investment (whether through the purchase of stock, obligations or otherwise) in or make any loan or advance to, any other Person or acquire substantially as an entirety the Property or business of any other Person, other than as permitted by such Borrower’s articles of organization or limited liability company operating agreement (or equivalent organizational document); provided, that
(a) no Borrower shall make an investment in any Borrower Subsidiary if the aggregate amount of all investments made by the Borrower in all of such Borrower’s Borrower Subsidiaries exceeds the lesser of (i) $100,000,000 and (ii) 33% of such Loan Party’s Tangible Net Worth at the time of such investment unless such Borrower (A) obtains the Required Lenders’ prior written consent to such investment or (B) simultaneously with such investment one or more Borrower Subsidiaries of such Borrower delivers a Guarantee; and
(b) a Borrower may make loans and advances to the Parent or any Parent Subsidiary so long as (i) such loan or advance is not deemed subordinated debt for regulatory capital purposes, and (ii) the aggregate amount of all such loans and advances made by such Borrower does not exceed 50% of such Borrower’s Total Regulatory Capital at any one time.
Investments, Acquisitions, Loans and Advances. Other than (a) investments of the type described in Section 6.6 of the Credit Agreement, (b) intercompany loans and advances to the Borrower made with income and profits generated in the ordinary course of business and not with the proceeds of any liquidating dividend or distribution, (c) investments by the Guarantor in any of its Subsidiaries, and (d) investments by any Subsidiary in any of such Subsidiary's Subsidiaries and the FMCL Subordinated Note, the Guarantor shall not, nor shall it permit any of its Subsidiaries to, directly or indirectly, make, retain or have outstanding any investments (whether through purchase of stock or obligations or otherwise) in, or loans or advances to, any other Person, or acquire all or any substantial part of the assets or business of any other Person or division thereof.
Investments, Acquisitions, Loans and Advances. The Borrower shall not directly or indirectly, make, retain or have outstanding any investments (whether through purchase of stock or obligations or otherwise) in, or loans or advances to, any other Person, or acquire all or any substantial part of the assets or business of any other Person or division thereof; provided, however, that the foregoing shall not apply to nor operate to prevent:
(a) investments in direct obligations of the United States of America or of any agency or instrumentality thereof whose obligations constitute full faith and credit obligations of the United States of America, provided that any such obligations shall mature within one year of the date of issuance thereof;
(b) investments in commercial paper rated at least P-1 by Mxxxx'x and at least A-1 by S&P maturing within one year of the date of issuance thereof;
(c) investments in certificates of deposit issued by any Lender or by any United States commercial bank having capital and surplus of not less than $100,000,000 which have a maturity of one year or less;
(d) investments in repurchase obligations with a term of not more than 7 days for underlying securities of the types described in subsection (a) above entered into with any bank meeting the qualifications specified in subsection (c) above, provided all such agreements require physical delivery of the securities securing such repurchase agreement, except those delivered through the Federal Reserve Book Entry System;
(e) investments in money market funds that invest solely, and which are restricted by their respective charters to invest solely, in investments of the type described in the immediately preceding subsections (a), (b), (c), and (d) above; and
(f) the purchase of the Target Shares and the Merger.
Investments, Acquisitions, Loans and Advances. The Borrower will not, and will not cause or permit any of its Subsidiaries to, purchase, hold or acquire any Capital Stock, evidences of indebtedness (other than restructured receivables) or other securities of, make or permit to exist any loans or advances to, or make or permit to exist any investment or any other interest in, or make any acquisition of assets of any other Person as a going concern, or create any Subsidiary (each, an "INVESTMENT"), except:
(a) Investments existing on the date hereof in the Capital Stock set forth on SCHEDULE 6.04 hereto;
