Lending and guarantees. (a) Borrower shall not be a creditor in respect of any loan or give any form of credit to any Person outside of its normal and customary business operations.
(b) Borrower shall not give or allow to be outstanding any guarantee or indemnity to or for the benefit of any Person in respect of any obligation of any other Person or enter into any document under which Borrower assumes any liability of any other Person other than (i) any guarantee or indemnity given under the Loan Documents, or any indemnity provision set forth in the Leases.
Lending and guarantees the Borrower shall not lend money to or invest money in any Person, whether by loan, acquisition of shares, acquisition of debt obligations or in any other manner whatsoever or guarantee, endorse or otherwise become surety for or upon the obligations of any other Person except by endorsement of negotiable instruments for deposit or collection in the ordinary course of its business;
Lending and guarantees. 15.8.1. No Obligor may make any loan or provide any form of credit to any person save:
(a) in the case of the Lessee or Owner where such credit is provided in the ordinary course of trading or as a result of payment or receipt of payment by the Lessee or Owner for some other Obligor or an affiliate thereof; or
(b) in the case of the Borrower where it makes a Permitted Loan.
15.8.2. No Obligor may make or give any guarantee or indemnity to or for the benefit of any person in respect of any obligation of any other person or enter into any document under which the Obligor in question assumes any liability of any other person except in the ordinary course of business.
15.8.3. This Clause does not apply to Permitted Indebtedness.
Lending and guarantees. (a) Except as provided in paragraph (b) below, no member of the Group may be the creditor in respect of any Borrowings or of any trade credit extended to any of its customers.
(b) Paragraph (a) does not apply to:
(i) trade credit extended by any member of the Group to its customers on normal commercial terms and in the ordinary course of its trading activities;
(ii) any loan by one member of the Group to another member of the Group; or
(iii) any other exceptions agreed by the Majority Banks.
Lending and guarantees. No member of the Group may, make any loans or any form of credit or give any guarantee or indemnity to or for the benefit of any person in respect of any obligation for Financial Indebtedness of any person other than:
(a) to another member of the Group;
(b) in respect of Financial Indebtedness of a member of the Group; or
(c) provided that no breach of Clause 18.3 (Consolidated Tangible Net Worth) is then outstanding or would result, loans from the Company to its Holding Company or any Affiliate of its Holding Company, which in each case is permitted under Clause 19.7(b) (Financial Indebtedness) and in respect of which all relevant legislation relating to financial assistance has been complied with.
Lending and guarantees. (a) The Obligors must not make any loan or provide any form of credit to any person.
(b) The Obligors must not give any guarantee or indemnity to or for the benefit of any person in respect of any obligation of any other person or enter into any document under which the Obligors assumes any liability of any other person.
(c) This clause does not apply to Permitted Indebtedness.
Lending and guarantees. The Borrower will not and will procure that no other member of the Borrower Group will make or grant any loan or advance to, or give any guarantee, indemnity, bond or letter of credit to or for the benefit of, or in respect of the liabilities or obligations of, any other person other than a member of the Borrower Group or voluntarily assume any liability (whether actual or contingent) of any other person other than a member of the Borrower Group. For the avoidance of doubt, intra group loans by and amongst members of the Borrower Group are permitted provided that such intra group loans are expressly subordinated to all amounts owing under the Finance Documents under the terms of a subordination deed in form and substance satisfactory to the Lenders pursuant to which, inter alia, upon the occurrence of a Default, the principal of, and interest accruing on such intra group loans shall not be paid, repaid, payable or repayable in whole or in part.
Lending and guarantees. (a) No Obligor shall make any loan or provide any form of credit to any person other than as permitted under Clause 20.6 (Financial Indebtedness).
(b) Except as permitted under paragraph (c) below, no Obligor shall give any guarantee or indemnity to or for the benefit of any person in respect of any obligation of any other person or enter into any document under which that Obligor assumes any liability of any other person.
(c) Paragraph (b) shall not apply to an indemnity given by the Company relating to the obligations of Shurgard Deutschland GmbH arising in connection with the termination of the Domination and Profit Loss Sharing Agreement provided that the aggregate amount of that indemnity does not exceed €50,000.
Lending and guarantees. (a) No Obligor may be the creditor in respect of any loan or any form of credit to any person other than:
(i) to another Obligor by way of Subordinated Debt; (ii) in respect of the Development Facility Loan Agreement, and only to the extent funded entirely from a Permitted Equity Injection or from funds standing to the credit of the General Account; or
Lending and guarantees. (a) Except as permitted under paragraph (b) below, the Borrower shall not, and shall ensure that each other member of the Group shall not, be the creditor in respect of any loan or any form of credit to any person.
(b) Paragraph (a) above does not apply to a Permitted Loan.
(c) The Borrower shall not, and shall ensure that each other member of the Group shall not, give or allow to be outstanding any guarantee or indemnity to or for the benefit of any person in respect of any obligation of any other person or enter into any document under which the any member of the Group assumes any liability of any other person other than any guarantee or indemnity given under the Finance Documents.
(d) Paragraph (c) above does not apply to a Permitted Guarantee.
