Common use of Investments and Subsidiaries Clause in Contracts

Investments and Subsidiaries. (a) No Borrower will, or will permit any Subsidiary to, 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 U.S. corporations rated "A-1" or "A-2" by Standard & Poors Corporation or "P-1" or "P-2" by Moody's Investors Service or certificates of deposit xx xxnkers' acceptances having a maturity of one year or less issued by members of the Federal Reserve System having deposits in excess of $100,000,000 (which certificates of deposit or bankers' acceptances are fully insured by the Federal Deposit Insurance Corporation); (ii) travel advances or loans to Officers and employees not exceeding at any one time an aggregate of $100,000 for all Borrowers and Subsidiaries; (iii) Guide's investment in Outlet not exceeding its investment as of the date hereof and the net proceeds of any offering of Guide's equity securities for the purpose of financing such company; and (iv) advances in the form of progress payments, prepaid rent not exceeding two months or security deposits. (b) No Borrower will, or will permit any Subsidiary to, create or permit to exist any Subsidiary other than Outlet.

Investments and Subsidiaries. (a) No Borrower will, or The Borrowers will permit any Subsidiary to, 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 U.S. corporations rated "A-1A-I" or "A-2" by Standard & Poors Corporation or "P-1P-I" or "P-2" by Moody's Xxxxx'x Investors Service or certificates of deposit xx xxnkersor bankers' acceptances having a maturity of one year or less issued by members of the Federal Reserve System having deposits in excess of $100,000,000 (which certificates of deposit or bankers' acceptances are fully insured by the Federal Deposit Insurance Corporation); (ii) travel advances or loans to Officers the Borrowers' officers and employees not exceeding at any one time an aggregate of $100,000 for all Borrowers and Subsidiaries5,000; (iii) Guide's investment in Outlet not exceeding its investment as of the date hereof and the net proceeds of any offering of Guide's equity securities for the purpose of financing such company; and (iv) advances in the form of progress payments, prepaid rent not exceeding two three (3) months or security deposits; and (iv) so long as no Default or Event of Default has occurred and is continuing, advances to MicroTel in an amount necessary to cover any outstanding accounting, tax and administrative expenses incurred by MicroTel on the Borrowers' behalf. (b) No Borrower will, or The Borrowers will permit any Subsidiary to, not create or permit to exist any Subsidiary Subsidiary, other than Outletthe Subsidiaries in existence on the date hereof and listed in SCHEDULE 5.4.

Investments and Subsidiaries. (a) No The Borrower will, or will permit any Subsidiary to, 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 Cyclone Software Corporation, an Arizona corporation or any partnership or joint venture, except: (i1) 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 U.S. corporations rated "A-1" or "A-2" by Standard & Poors Corporation or "P-1" or "P-2" by Moody's Investors Service or certificates of deposit xx xxnkersdexxxxx xr bankers' acceptances having a maturity of one year or less issued by members of the Federal Reserve System having deposits in excess of $100,000,000 (which certificates of deposit or bankers' acceptances are fully insured by the Federal Deposit Insurance Corporation); (ii2) travel advances or loans to Officers officers and employees of the Borrower not exceeding at any one time an aggregate of Ten Thousand Dollars ($100,000 for all Borrowers and Subsidiaries; (iii) Guide's investment in Outlet not exceeding its investment as of the date hereof and the net proceeds of any offering of Guide's equity securities for the purpose of financing such company10,000.00); and (iv3) advances in the form of progress payments, prepaid rent not exceeding two months or security deposits. (b) No The Borrower will, or will permit any Subsidiary to, not create or permit to exist any Subsidiary Subsidiary, other than Outletany Subsidiary in existence on the date hereof and listed in Exhibit B hereto.

Investments and Subsidiaries. (a) No Borrower willThe Borrowers will not, or and will not permit any Subsidiary other Company to, 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 U.S. corporations rated "A-1" or "A-2" by Standard & Poors Corporation or "P-1" or "P-2" by Moody's Investors Moodx'x Xxxestors Service or certificates of deposit xx xxnkersor bankers' acceptances having a maturity of one year or less issued by members of the Federal Reserve System having deposits in excess of $100,000,000 (which certificates of deposit or bankers' acceptances are fully insured by the Federal Deposit Insurance Corporation); (ii) investments in Subsidiaries existing on the date hereof; (iii) travel advances or loans to Officers a Company's officers and employees not exceeding at any one time an aggregate of $100,000 for all Borrowers and Subsidiaries; (iii) Guide's investment in Outlet not exceeding its investment as of the date hereof and the net proceeds of any offering of Guide's equity securities for the purpose of financing such company50,000; and (iv) advances in the form of progress payments, prepaid rent not exceeding two three (3) months or security deposits. (b) No Borrower willThe Borrowers will not, or and will not permit any Subsidiary other Company to, create or permit to exist any Subsidiary Subsidiary, other than Outletthe Subsidiaries in existence on the date hereof and listed in Schedule 5.5.

Investments and Subsidiaries. (a) No The Borrower will, or will permit any Subsidiary to, 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 U.S. corporations rated "A-1" or "A-2" by Standard & Poors Corporation or "P-1" or "P-2" by Moody's Xxxxx'x Investors Service or certificates of deposit xx xxnkersor bankers' acceptances having a maturity of one year or less issued by members of the Federal Reserve System having deposits in excess of $100,000,000 (which certificates of deposit or bankers' acceptances are fully insured by the Federal Deposit Insurance Corporation); (ii) travel advances or loans to Officers the Borrower's officers and employees not exceeding at any one time an aggregate of Fifty Thousand Dollars ($100,000 for all Borrowers and Subsidiaries; (iii) Guide's investment in Outlet not exceeding its investment as of the date hereof and the net proceeds of any offering of Guide's equity securities for the purpose of financing such company50,000); and (iviii) advances in the form of progress paymentspayments (other than to vendors of Borrower in the normal course of business), prepaid rent not exceeding two three (3) months or security deposits. (b) No The Borrower will, or will permit any Subsidiary to, not create or permit to exist any Subsidiary Subsidiary, other than Outletthe Subsidiary in existence on the date hereof and listed in SCHEDULE 5.4.

Investments and Subsidiaries. (a) No From the date hereof, the Borrower will, or will permit any Subsidiary to, purchase or hold beneficially any stock or other securities or evidences of indebtedness of, not 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 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 U.S. corporations rated "A-1" or "A-2" by Standard & Poors Corporation Poor's Ratings Services or "P-1" or "P-2" by Moody's Xxxxx'x Investors Service or certificates of deposit xx xxnkersor bankers' acceptances having a maturity of one year or less issued by members of the Federal Reserve System having deposits in excess of $100,000,000 (which certificates of deposit or bankers' acceptances are fully insured by the Federal Deposit Insurance Corporation); (iib) travel Travel advances or loans to the Borrower's Officers and employees not exceeding at any one time an aggregate of $100,000 for all Borrowers and Subsidiaries15,000; (iiic) Guide's investment in Outlet Prepaid rent not exceeding its investment as of one month or security deposits; (d) Current investments in the Subsidiaries in existence on the date hereof and the net proceeds of any offering of Guide's equity securities for the purpose of financing such companylisted in Schedule 5.5 hereto; and (ive) advances Investment in APR, LLC, but only to the form extent (i) such investment is paid in stock of progress paymentsHoldings, prepaid rent (ii) no Change of Control occurs; and (iii) Lender obtains a first priority security interest in any such investment. Further, Borrower may not exceeding two months finance operating expenses of APR, LLC or security depositsany Affiliate, directly or indirectly, without Lender's prior written consent, which consent shall not be unreasonably withheld. (b) No Borrower will, or will permit any Subsidiary to, create or permit to exist any Subsidiary other than Outlet.

Investments and Subsidiaries. (a) No The Borrower will, or will permit any Subsidiary to, 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: (ia) 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 U.S. corporations rated "“A-1" ” or "“A-2" ” by Standard & Poors Poor’s Corporation or "“P-1" ” or "“P-2" ” by Moody's Mxxxx’x Investors Service or certificates of deposit xx xxnkers' or bankers’ acceptances having a maturity of one year or less issued by members of the Federal Reserve System having deposits in excess of $100,000,000 (which certificates of deposit or bankers' ’ acceptances are fully insured by the Federal Deposit Insurance Corporation); (iib) travel advances or loans to the Borrower’s Officers and employees not exceeding at any one time an aggregate of $100,000 50,000 for all Borrowers and Subsidiariesthe Borrower; (iii) Guide's investment in Outlet not exceeding its investment as of the date hereof and the net proceeds of any offering of Guide's equity securities for the purpose of financing such company; and (ivc) advances in the form of progress payments, prepaid rent not exceeding two 3 months or security deposits; (d) Investments evidenced by the Initial Pledged Shares; and (e) current investments in the Subsidiaries in existence on the date hereof and listed in Schedule 5.5 hereto. (bf) No Borrower will, The Acquisition. Nothing in this Section shall limit or will permit reduce the Lender’s right to approve in its sole and absolute the subordination of any Subsidiary to, create or permit to exist any Subsidiary other than OutletSubordinated Debt in the manner set forth in the definition of “Subordinated Debt” contained in this Agreement.