Investments or Loans. The Borrower shall not make, incur, assume or permit to exist any loans or advances, or any investments in or to any other Person, except (i) investments in short-term direct obligations of the United States Government, agency or instrumentality thereof; or any (ii) investments in negotiable certificates of deposit issued by the Administrative Agent or by any other bank reasonably satisfactory to the Administrative Agent, payable to the order of the Borrower or to bearer, (iii) investments in commercial paper rated at least A-1 by Standard & Poor’s Corporation or P-1 by Xxxxx’x Investors Service, Inc., or carrying an equivalent rating by a nationally recognized rating agency if both of the two named rating agencies cease publishing ratings of investments, (iv) investments in money market funds which invest substantially all their assets in securities of the types described in clauses (i) through (iii), above; provided that, in each case, such investment is reasonably acceptable to the Administrative Agent, (iv) other short-term investments as may be permitted by Administrative Agent, (vi) loans or advances made by any Borrower to Guarantor, any other Borrower or any Affiliated Revolving Borrower, (vii) loans and advances to employees permitted under Section 9.8; and (viii) investments by the Borrowers in their respective Subsidiaries existing on the date hereof and additional investments by the Borrower in their respective Subsidiaries so long as such Subsidiary is a Borrower under this Agreement.
Investments or Loans. (a) The Real Estate Company shall not make, incur, assume or permit to exist any loans or advances, or any investments in or to any other Person, except: (a) investments in short-term direct obligations of the United States Government; (b) investments in negotiable certificates of deposit issued by Popular Bank or by any other bank satisfactory to the Agent, payable to the order of the Borrower or to bearer; and (c) investments in commercial paper rated at least A-1 by Standard & Poor’s Corporation or P-1 by Mxxxx’x Investors Service, Inc., or carrying an equivalent rating by a nationally recognized rating agency if both of the two named rating agencies cease publishing ratings of investments.
Investments or Loans. 43 8.5 Guarantees............................................. 44 8.6
Investments or Loans. Borrower shall not make or permit to exist investments or loans in or to any other Person, except (i) investments in short-term direct obligations of the United States Government, (ii) investments in negotiable certificates of deposit or other investment accounts (i.e. money market accounts) issued by Lender, an affiliate of Lender or by any other bank or financial institution satisfactory to Lender, in its reasonable discretion, and payable to the order of Borrower or to bearer, (iii) investments in commercial paper rated Al or Pl, (iv) advances to employees of Borrower in the ordinary course of business to the extent that such advances do not materially adversely affect Borrower’s financial condition or operation of business, (v) advances against commissions to independent sales agents of Borrower in the ordinary course of business to the extent that such advances do not materially adversely affect Borrower’s financial condition or operation of business, (vi) intercompany transfers between Xxxxxx and its Subsidiaries and between Subsidiaries in the ordinary course of business to the extent that such intercompany transfers do not materially adversely affect Borrower’s financial condition, operation of business or the financial covenants contained in Section 8.13 herein, (vii) the Acquisition and future acquisitions to the extent permitted hereunder, (viii) Xxxxxx’x purchase of treasury stock, (ix) loans to current employees or officers of Borrower as permitted pursuant to Section 8.6.
Investments or Loans. Such Borrower shall not, and shall not permit any of its Subsidiaries to, make or permit to exist investments or loans in or to any other Person, except (i) investments in short-term direct obligations of the United States Government, (ii) investments in negotiable certificates of deposit maturing within thirty (30) days from the date of issuance, issued by any Lender or an affiliate of any Lender or by any other federally insured bank (provided that any such investments do not exceed the limit of any such federal insurance) satisfactory to Agent, in its reasonable discretion, and payable to the order of such Borrower or any of its Subsidiaries or to bearer and delivered to Agent, (iii) investments in commercial paper issued by companies organized under the laws of the United States or any state thereof, maturing in ninety (90) days or less from the date of issuance, which at the time of acquisition by such Borrower or any such Subsidiary is rated A-1/P-1 by Standard & Poor's Rating Services (a division of XxXxxx-Xxxx Companies, Inc.) or Xxxxx'x Investor Services, Inc., (iv) demand deposits in banks and similar financial institutions in reasonable amounts necessary to such Borrower's and its Subsidiaries' operations, (v) advances and reimbursements for travel and expenses to such Borrower's or its Subsidiaries' officers, directors or employees in the ordinary course of business and consistent with past practices, (vi) investments (including debt obligations) received in connection with the bankruptcy or reorganization of suppliers and customers and in settlement of delinquent obligations of, and other disputes with, customers and suppliers arising in the ordinary course of business, (vii) investments existing on the date hereof by such Borrower in its Subsidiaries and the Joint Ventures and described on Schedule 8.4, (viii) investments made after March 31, 1995 by such Borrower in, and loans made after March 31, 1995 by such Borrower to, Subsidiaries of such Borrower (other than Excluded Subsidiaries, it being understood that the exception in this clause (ix) permitting certain investments in, and loans to, Subsidiaries shall not permit any such investment in, or loan to, any Excluded Subsidiary) and the Joint Ventures provided that the aggregate amount of such investments and outstanding loans does not exceed $1,000,000 in the aggregate at any time with respect to all Borrowers, (x) an intercompany loan by Rail to Deco after the date of the Original Agree...
Investments or Loans. The Company shall not make or permit to exist investments or loans in or to any other Person, except (i) investments in short-term direct obligations of the Canadian or United States governments, and (ii) investments in negotiable certificates of deposit maturing within one hundred eighty (180) days from the date of issuance, issued by a Canadian chartered bank listed on Schedule A to the Bank Act (Canada), bankers acceptances and high grade commercial paper, and (iii) investments in Subsidiaries of the Company which have guaranteed the Obligations.
Investments or Loans. Except as otherwise expressly permitted by this Section 7.4, neither the Company nor any of its Subsidiaries shall make or permit to exist any investment in, or make, accrue or permit to exist loans or advances of money to, any Person, through the direct or indirect lending of money, holding of securities or otherwise, except that (a) the Company and its Subsidiaries may make Loans that comply with the Credit and Collection Policy and Requirements of Law and up to $200,000 in the aggregate of other Loans that do not comply with the Credit and Collections Policy, (b) the Company may maintain its existing investments in its Subsidiaries as of the Closing Date, (c) the Company may hold Indebtedness consisting of intercompany loans and advances made by Company to its Subsidiary, provided that (A) each such Subsidiary shall have executed and delivered to the Company, on the Closing Date, a demand note (collectively, the “Intercompany Notes”) to evidence any such intercompany Indebtedness owing at any time by such Subsidiary to the Company which Intercompany Notes shall be in form and substance satisfactory to the Purchasers and shall be pledged and delivered to the Purchasers pursuant to the applicable Pledge Agreement or Security Agreement as additional collateral security for the Obligations; (B) the Company shall record all intercompany transactions on its books and records in a manner satisfactory to the Purchasers; (C) at the time any such intercompany loan or advance is made by the Company to any Subsidiary thereof and after giving effect thereto, the Company shall be Solvent; (E) no Default or Event of Default would occur and be continuing after giving effect to any such proposed intercompany loan; and (F) the aggregate amount of such intercompany Indebtedness shall not exceed $8,000,000 at any one time outstanding, (d) so long as no Default or Event of Default shall have occurred and be continuing, the Company may make investments up to $250,000 in the aggregate, subject to Control Letters in favor of the Purchasers or otherwise subject to a perfected security interest in favor of the Purchasers, in (i) marketable direct obligations issued or unconditionally guaranteed by the United States of America or any agency thereof maturing within one year from the date of acquisition thereof, (ii) commercial paper maturing no more than one year from the date of creation thereof and currently having the highest rating obtainable from either Standard & Poor’s Corp...
Investments or Loans. Make or permit to exist investments or loans in or to any other Person, except for (i) salaries and reasonable advances of money to its employees in payment of reasonable expenses incurred by such employees in the ordinary course of business or (ii) investments in certificates of deposits of a banking institution having a net worth in excess of $100,000,000 or in securities of the United States of America or commercial paper with a P1 rating (or equivalent rating from a nationally recognized rating agency) (all of the foregoing maturing within one year) ("Permitted Investments").
Investments or Loans. The Company shall not, and shall not permit any Subsidiary to, acquire any Property in exchange for cash or other Property, whether in the form of an acquisition of securities or other Indebtedness or obligations, or the purchase or acquisition by the Company or any of its Subsidiaries of any other Property, or a loan, advance, capital contribution or subscription, except acquisitions of the following:
Investments or Loans. Borrower shall not make, incur, assume or permit to exist any loans or advances, or any investments in or to any other Person, except (a) investments in short-term direct obligations of the United States Government, (b) investments in negotiable certificates of deposit issued by Administrative Agent, BoA or by any other bank satisfactory to Administrative Agent, payable to the order of Borrower or to bearer, (c) investments in commercial paper rated at least A-1 by S&P or P-1 by Xxxxx’x, or carrying an equivalent rating by a nationally recognized rating agency if both of the two named rating agencies cease publishing ratings of investments, (d) investments in cash or other Cash Equivalents, (e) extensions of trade debt in the ordinary course of business, (f) loans, advances or investments by a Borrower in or to another Borrower, (g) investments in Interest Rate Protection Agreements, (h) loans or advances to employees in the ordinary course of business not to exceed $250,000 in the aggregate at any one time outstanding, and (i) investments in securities of Account Debtors received pursuant to any plan of reorganization or similar arrangement upon the bankruptcy or insolvency of such Account Debtors.
