Limitation on Advances and Investments. Neither the Borrower nor the Guarantors will, or will permit any of their respective Subsidiaries to, make or permit to exist, any loans, advances or capital contributions to, or make any investment in, or purchase or commit to purchase any stock or other securities or evidences of indebtedness of or interests in any other Person which is not, or which will not become in connection with such transaction, a Subsidiary (“Investments”), except:
(a) Liquid Investments;
(b) trade and customer accounts receivable which are for goods furnished or services rendered in the ordinary course of business and are payable in accordance with customary trade terms;
(c) Investments not otherwise permitted by this Section 7.07 in any Person or Persons in a maximum aggregate amount not to exceed $100,000,000 in any fiscal year;
(d) Investments not otherwise permitted by this Section 7.07 in any Person or Persons so long as (1) after giving effect to the Investments (and any related Borrowing or other incurrence of Debt), the Debt to Cash Flow Ratio is equal to or less than 3.50 to 1.00 on a pro forma basis as of the last fiscal quarter for which financial statements have been delivered to the Administrative Agent in accordance with the terms hereof, and (2) immediately before and after giving effect thereof, no Default or event which, with the giving of notice, the lapse of time or both, would constitute a Default shall have occurred and be continuing or would result therefrom;
(e) for the avoidance of doubt, acquisitions of restaurants from Chili’s franchisees; and
(f) Investments existing on the Effective Date and described on Schedule VI.
Limitation on Advances and Investments. Neither the Borrower nor the Guarantor will, or will permit any of their respective Subsidiaries to, make or permit to exist, any loans, advances or capital contributions to, or make any investment in, or purchase or commit to purchase any stock or other securities or evidences of indebtedness of or interests in any other Person which is not, or which will not become in connection with such transaction, a Subsidiary (“Investments”), except the following:
(a) Liquid Investments;
(b) trade and customer accounts receivable which are for goods furnished or services rendered in the ordinary course of business and are payable in accordance with customary trade terms;
(c) Investments in respect of joint ventures or similar arrangements relating to the ownership or operation of food service businesses in which the Borrower and its Subsidiaries in the aggregate are the beneficial owners of not less than 50% of the outstanding equity interests;
(d) Investments not otherwise permitted by this Section 7.07 in any Person, provided that the aggregate amount of such Investments made and outstanding at any time shall not exceed thirty percent (30%) of the Consolidated assets of the Borrower as set forth on the most recent financial statements of the Borrower and its Consolidated Subsidiaries delivered to the Banks pursuant to Sections 5.04 or 6.02;
(e) Investments existing on the Effective Date and described on Schedule VI; and
(f) Investments by Foreign Subsidiaries in other Subsidiaries or other Persons, provided that such Investments in other Persons are from the retained earnings of a Foreign Subsidiary or other Person, and any retention by a Subsidiary or other Person of net income.
Limitation on Advances and Investments. The Borrower shall not make or suffer to exist any advances or loans to, or any investments in (by transfers or property, contributions to capital, purchase of stock or securities or evidence of indebtedness, acquisition of assets or business or otherwise) any Person other than the securities of the United States of America and other investments as may be offered by the Lender.
Limitation on Advances and Investments. Make or suffer to exist any advances or loans to, or any investments in (by transfers of property, contributions to capital, purchase of stock or securities or evidence of indebtedness, acquisition of assets or business or otherwise) any person, firm or corporation, including officers or employees of Obligors, other than capital expenditures permitted by Section 6.20 and acquisitions of all the stock or all or substantially all of the assets of any entity (each an "Acquisition") funded by internally generated cash, stock of Holdings or purchase money indebtedness owed to the seller of the stock or assets of such entity being acquired for which the total purchase price in any one Acquisition does not exceed $500,000 and the total purchase price for all Acquisitions in any one fiscal year does not exceed $1,000,000 and after giving effect to which no Event of Default, or event which with the giving of notice or the passage of time would constitute an Event of Default, shall have occurred.
Limitation on Advances and Investments. Make or suffer to exist any advances or loans in excess of $10,000 to, or any material investments in (by transfers of property, contributions to capital, purchase of stock or securities or evidence of indebtedness, acquisition of assets or business or otherwise but excluding accounts receivable arising in the ordinary course of Borrower's business) any person, firm or corporation, including officers or employees of the Borrower.
Limitation on Advances and Investments. Neither the Borrower nor the Guarantors will, or will permit any of their respective Subsidiaries to, make or permit to exist, any loans, advances or capital contributions to, or make any investment in, or purchase or commit to purchase any stock or other securities or evidences of indebtedness of or interests in any other Person which is not, or which will not become in connection with such transaction, a Subsidiary (“Investments”), except the following:
(a) Liquid Investments;
(b) trade and customer accounts receivable which are for goods furnished or services rendered in the ordinary course of business and are payable in accordance with customary trade terms;
Limitation on Advances and Investments. Neither the Borrower nor the Guarantors will, or will permit any of their respective Subsidiaries to, make or permit to exist, any loans, advances or capital contributions to, or make any investment in, or purchase or commit to purchase any stock or other securities or evidences of indebtedness of or interests in any other Person which is not, or which will not become in connection with such transaction, a Subsidiary (“Investments”), except the following: (a) Liquid Investments; (b) trade and customer accounts receivable which are for goods furnished or services rendered in the ordinary course of business and are payable in accordance with customary trade terms; (c) Investments in respect of joint ventures or similar arrangements relating to the ownership or operation of food service businesses in which the Borrower and its Subsidiaries in the aggregate are the beneficial owners of not less than 50% of the outstanding equity interests; (d) Investments not otherwise permitted by this Section 7.07 in any Person or Persons, in an additional amount not to exceed $100,000,000 in the aggregate per fiscal year; 66 122723226_17
Limitation on Advances and Investments. Borrower shall not make or -------------------------------------- permit to exist any advances or loans to, or any investments in, any Person (collectively, "Investments"), except for Investments listed on Schedule 4.14 hereto, other Investments in an aggregate amount not in excess of $1.0 million made in the ordinary course of the Borrower's business and other Investments made with the express written consent of the Lender; provided that in each such case Borrower's shall not have any liability or contingent liability with respect to liabilities of the Persons in which such Investments are made beyond the amount of the Borrower's Investments in such Persons. Borrower shall not assume or incur any contingent obligation or liability, as guarantor or otherwise, with respect to the obligations of any Person, whether by contributions to capital, purchase of stock, securities or other evidences of indebtedness or otherwise except for endorsements of instruments for deposit or collection in the ordinary course of business, reimbursement obligations in respect of letters of credit obtained in the ordinary course of business and other contingent obligations incurred in the ordinary course of business and not violating the first sentence of this Section 4.14.
Limitation on Advances and Investments. Except as otherwise consented to by the Bank (such consent not to be unreasonably withheld or delayed), the Borrower shall not make or suffer to exist any advances or loans to, or any investments in (by transfers or property, contributions to capital, purchase of stock or securities or evidence of indebtedness, acquisition of assets or business or otherwise) any Person other than Permitted Investments.
Limitation on Advances and Investments. The Borrower shall not make or suffer to exist any advances or loans to, or any investments in (by transfers or property, contributions to capital, purchase of stock or securities or evidence of indebtedness, acquisition of assets or business or otherwise) any Person other than the securities of the United States of America and certificates of deposits in a bank or trust Borrower or other deposit account acceptable to the Agent, and the Borrower shall not prepay any financing-related debt obligations. Notwithstanding the forgoing, Borrower may make advances to employees in the normal course of business based upon its employee expense reimbursement plan; provided, however, that all such advances shall be in compliance with the provisions of Section 402 of the Xxxxxxxx-Xxxxx Act of 2002.
