Loan and Advances. Without the prior written consent of the Lender, the Borrower shall not make any loan or advance to any affiliate, director, member, manager, officer or employee of the Borrower, or any other person, except for the creation of accounts receivable in the ordinary course of business on terms that are no less favorable than would apply in an arm’s-length transaction.
Appears in 2 contracts
Samples: Loan Agreement (Comstock Holding Companies, Inc.), Loan Agreement (Comstock Holding Companies, Inc.)
Loan and Advances. Without the prior written consent of the Lender, the Borrower shall not make any loan or advance to any affiliate, director, member, manager, officer or employee of the Borrower, or any other person, except for the creation of accounts receivable in the ordinary course of business on terms that are no less favorable than would apply in an arm’s-length transaction.
Appears in 2 contracts
Samples: Loan Agreement (FRP Holdings, Inc.), Loan Agreement (Comstock Homebuilding Companies, Inc.)
