Limitation on Credit Extensions. Except for Investments permitted under Section 7.02, extend credit, make advances or make loans other than normal and prudent extensions of credit to customers buying goods and services in the ordinary course of business or to another Loan Party in the ordinary course of business, which extensions shall not be for longer periods than those extended by similar businesses operated in a normal and prudent manner.
Appears in 5 contracts
Samples: Credit Agreement (Targa Resources Partners LP), Intercreditor Agreement (Targa Resources Partners LP), Credit Agreement (Targa Midstream Services Limited Partnership)
Limitation on Credit Extensions. Except for Investments permitted under Section 7.027.02 and Swap Contracts permitted under Section 7.02(f) hereof, extend credit, make advances or make loans other than normal and prudent extensions of credit to customers buying goods and services in the ordinary course of business or to another Loan Party in the ordinary course of business, which extensions shall not be for longer periods than those extended by similar businesses operated in a normal and prudent manner.
Appears in 3 contracts
Samples: Credit Agreement (SemGroup Energy Partners, L.P.), Credit Agreement (SemGroup Energy Partners, L.P.), Credit Agreement (SemGroup Energy Partners, L.P.)
Limitation on Credit Extensions. Except for Investments permitted under Section 7.027.02 and Hedging Contracts permitted hereunder, extend credit, make advances or make loans other than normal and prudent extensions of credit to customers buying goods and services in the ordinary course of business or to another Loan Party in the ordinary course of business, which extensions shall not be for longer periods than those extended by similar businesses operated in a normal and prudent manner.
Appears in 3 contracts
Samples: Bridge Loan Agreement (Copano Energy, L.L.C.), Credit Agreement (Copano Energy, L.L.C.), Credit Agreement (Copano Energy, L.L.C.)
Limitation on Credit Extensions. Except for Investments permitted under Section7.02 and Swap Contracts permitted under Section 7.027.02(f) hereof, extend credit, make advances or make loans other than normal and prudent extensions of credit to customers buying goods and services in the ordinary course of business or to another Loan Party in the ordinary course of business, which extensions shall not be for longer periods than those extended by similar businesses operated in a normal and prudent manner.
Appears in 1 contract
Limitation on Credit Extensions. Except for Investments and Swap Contracts permitted under Section 7.027.02 hereof, extend credit, make advances or make loans other than normal and prudent extensions of credit to customers buying goods and services in the ordinary course of business or to another Loan Party in the ordinary course of business, which extensions shall not be for longer periods than those extended by similar businesses operated in a normal and prudent manner.
Appears in 1 contract
Samples: Possession Credit Agreement
Limitation on Credit Extensions. Except for Investments permitted under by Section 7.027.7, no Restricted Person will extend credit, make advances or make loans other than (a) normal and prudent extensions of credit to customers buying goods and services in the ordinary course of business or to another Loan Party in the ordinary course of business, which extensions shall not be for longer periods nor on terms more favorable than those extended by similar businesses operated in a normal and prudent mannermanner and (b) loans to Restricted Persons that have complied with the terms of Section 6.17, so long as no Default or Event of Default exists at the time such loan is made.
Appears in 1 contract
