Common use of Investments and Subsidiaries Clause in Contracts

Investments and Subsidiaries. (a) The Borrower will not purchase or hold beneficially any stock or other securities or evidences of indebtedness of, make or permit to exist any loans or advances to, or make any investment or acquire any interest whatsoever in, any other Person, including, specifically, but without limitation, any partnership or joint venture, except: (i) investments in direct obligations of the United States of America or any agency or instrumentality thereof whose obligations constitute full faith and credit obligations of the United States of America having a maturity of one year or less, commercial paper issued by United States of America corporations rated A-1 or A-2 by Standard & Poor's Corporation or P-1 or P-2 by Moody's Xxxxxtors Service or certificates of deposit or bankers' acceptances having a maturity of one year or less issued by members of the Federal Reserve System having deposits in excess of One Hundred Million Dollars ($100,000,000) (which certificates of deposit or bankers' acceptances are fully insured by the Federal Deposit Insurance Corporation); and (ii) travel advances or loans to the Borrower's officers and employees not exceeding at any one time an aggregate of Ten Thousand Dollars ($10,000). (b) The Borrower will not create or permit to exist any Subsidiary, other than as provided in Section 5.4.

Investments and Subsidiaries. (a) The Borrower will not purchase or hold beneficially any stock or other securities or evidences of indebtedness of, make or permit to exist any loans or advances to, or make any investment or acquire any interest whatsoever in, any other Person, including, specifically, including specifically but without limitation, limitation any partnership or joint venture, except: (i) investments in direct obligations of the United States of America or any agency or instrumentality thereof whose obligations constitute full faith and credit obligations of the United States of America having a maturity of one year or less, commercial paper issued by United States of America U.S. corporations rated A-1 "A-1" or A-2 "A-2" by Standard & Poor's Poors Corporation or P-1 "P-1" or P-2 "P-2" by Moody's Xxxxxtors Xxxxx'x Investors Service or certificates of deposit or bankers' acceptances having a maturity of one year or less issued by members of the Federal Reserve System having deposits in excess of One Hundred Million Dollars ($100,000,000) (which certificates of deposit or bankers' acceptances are fully insured by the Federal Deposit Insurance Corporation); and; (ii) travel advances or loans to the Borrower's officers and employees not exceeding at any one time an aggregate of Ten Thousand Dollars ($10,000); and (iii) advances in the form of progress payments, prepaid rent not exceeding three (3) months or security deposits. (b) The Borrower will not create or permit to exist any Subsidiary, other than as provided in Section 5.4.

Investments and Subsidiaries. (a) The Borrower will not purchase or hold beneficially any stock or other securities or evidences of indebtedness of, make or permit to exist any loans or advances to, or make any investment or acquire any interest whatsoever in, any other Person, including, specifically, including specifically but without limitation, limitation its Affiliates or any partnership or joint venture, except: (i) investments in direct obligations of the United States of America or any agency or instrumentality thereof whose obligations constitute full faith and credit obligations of the United States of America having a maturity of one (1) year or less, commercial paper issued by United States of America U.S. corporations rated A-1 "A-1" or A-2 "A-2" by Standard & Poor's Poors Corporation or P-1 "P-1" or P-2 "P-2" by Moody's Xxxxxtors Xxxxx'x Investors Service or certificates of deposit or bankers' acceptances having a maturity of one year or less issued by members of the Federal Reserve System having deposits in excess of One Hundred Million Dollars ($100,000,000) 100,000,000 (which certificates of deposit or bankers' acceptances are fully insured by the Federal Deposit Insurance Corporation); and (ii) travel advances or loans to the Borrower's officers and employees not exceeding at any one time an aggregate of Ten Five Thousand Dollars ($10,000)5,000.00) Dollars; and (iii) advances in the form of progress payments, prepaid rent not exceeding one (1) month or security deposits. (b) The Borrower will not create or permit to exist any Subsidiary, other than as provided any Subsidiary in Section 5.4existence on the date hereof and listed in Schedule 5.4 hereto.

Investments and Subsidiaries. (a) The Neither the Borrower nor the Parent will not purchase or hold beneficially any stock or other securities or evidences of indebtedness of, make or permit to exist any loans or advances to, or make any investment or acquire any interest whatsoever in, any other Person, including, specifically, including specifically but without limitation, limitation any partnership or joint venture, except: (i) investments by the Parent in any Subsidiary and investments in direct obligations of the United States of America or any agency or instrumentality thereof whose obligations constitute full faith and credit obligations of the United States of America having a maturity of one year or less, commercial paper issued by United States of America U.S. corporations rated A-1 "A-1" or A-2 "A-2" by Standard & Poor's Poors Corporation or P-1 "P-1" or P-2 "P-2" by Moody's Xxxxxtors Xxxxx'x Investors Service or certificates of deposit or bankers' acceptances having a maturity of one year or less issued by members of the Federal Reserve System having deposits in excess of One Hundred Million Dollars ($100,000,000) 100,000,000 (which certificates of deposit or bankers' acceptances are fully insured by the Federal Deposit Insurance Corporation); and; (ii) travel advances or loans to the Borrower's officers and employees of the Borrower or the Parent not exceeding at any one time an aggregate of Ten Thousand Dollars ($10,000); and (iii) advances in the form of progress payments, prepaid rent not exceeding three (3) months or security deposits. (b) The Neither the Borrower nor the Parent will not create or permit to exist any Subsidiary, other than as provided the Subsidiar(y)(ies) in Section existence on the date hereof and listed in Schedule 5.4.

Investments and Subsidiaries. (a) The Borrower will not purchase or hold beneficially any stock or other securities or evidences of indebtedness of, make or permit to exist any loans or advances to, or make any investment or acquire any interest whatsoever in, any other Person, including, specifically, including specifically but without limitation, limitation any partnership or joint venture, except: (i) shares of stock issued to it by its Subsidiaries; (ii) investments in direct obligations of the United States of America or any agency or instrumentality thereof whose obligations constitute full faith and credit obligations of the United States of America having a maturity of one year or less, commercial paper issued by United States of America U.S. corporations rated A-1 or A-2 by Standard & Poor's Poors Corporation or P-1 or P-2 by Moody's Xxxxxtors Xxxxx s Investors Service or certificates of deposit or bankers' bankers acceptances having a maturity of one year or less issued by members of the Federal Reserve System having deposits in excess of One Hundred Million Dollars ($100,000,000) 100,000,000 (which certificates of deposit or bankers' bankers acceptances are fully insured by the Federal Deposit Insurance Corporation); and (iiiii) travel advances or loans other investments not to exceed $50,000 in the Borrower's officers and employees not exceeding aggregate outstanding at any one time an aggregate of Ten Thousand Dollars ($10,000).time; and (b) The Borrower will not create or permit to exist any Subsidiary, other than as provided the Subsidiaries in Section existence on the date hereof and listed in Schedule 5.4.

Investments and Subsidiaries. (a) The No Borrower will not purchase or hold beneficially any stock or other securities or evidences of indebtedness of, make or permit to exist any loans or advances to, or make any investment or acquire any interest whatsoever in, any other PersonPerson or Affiliate, including, specifically, but without limitation, including any partnership or joint venture, nor purchase or hold beneficially any stock or other securities or evidence of indebtedness of any other person or Affiliate, except: (ia) investments Investments in direct obligations of the United States of America or any agency or instrumentality thereof whose obligations constitute full faith and credit obligations of the United States of America having a maturity of one year or less, commercial paper issued by United States of America U.S. corporations rated A-1 “A-1” or A-2 “A-2” by Standard & Poor's Corporation ’s Ratings Services or P-1 “P-1” or P-2 “P-2” by Moody's Xxxxxtors Mxxxx’x Investors Service or certificates of deposit or bankers' ’ acceptances having a maturity of one year or less issued by members of the Federal Reserve System having deposits in excess of One Hundred Million Dollars ($100,000,000) (which certificates of deposit or bankers' ’ acceptances are fully insured by the Federal Deposit Insurance Corporation); and; (iib) travel Travel advances or loans to the such Borrower's officers ’s Officers and employees not exceeding at any one time an aggregate of Ten Thousand Dollars ($10,000); provided, however, that the Lender agrees that advances to Nxxx Xxxxxxxxx in an amount not to exceed $230,000 at any time outstanding may remain outstanding. (bc) The Borrower will Prepaid rent not create or permit to exist any Subsidiary, other than as provided exceeding one (1) month and security deposits; and (d) Current investments in Section 5.4the Subsidiaries in existence on the date hereof and listed in Schedule 5.5 hereto.

Investments and Subsidiaries. (a) The Borrower will not purchase or hold beneficially any stock or other securities or evidences of indebtedness of, make or permit to exist any loans or advances to, or make any investment or acquire any interest whatsoever in, any other Person, including, specifically, including specifically but without limitation, limitation any partnership or joint venture, except: (i) investments in direct obligations of the United States of America or any agency or instrumentality thereof whose obligations constitute full faith and credit obligations of the United States of America having a maturity of one year or less, commercial paper issued by United States of America U.S. corporations rated A-1 "A-1" or A-2 "A-2" by Standard & Poor's Poors Corporation or P-1 "P-1" or P-2 "P-2" by Moody's Xxxxxtors Xxxxx'x Investors Service or certificates of deposit or bankers' acceptances having a maturity of one year or less issued by members of the Federal Reserve System having deposits in excess of One Hundred Million Dollars ($100,000,000) (which certificates of deposit or bankers' acceptances are fully insured by the Federal Deposit Insurance Corporation); and; (ii) travel advances or loans to the Borrower's officers and employees not exceeding at any one time an aggregate of Ten One Hundred Thousand Dollars ($10,000100,000); and (iii) advances in the form of progress payments or prepaid rent not exceeding the lesser of three (3) months' security deposits or One Hundred Fifty Thousand Dollars ($150,000). (b) The Borrower will not create or permit to exist any Subsidiary, other than as provided in Section 5.4.