Common use of Loans, Advances and Guaranties Clause in Contracts

Loans, Advances and Guaranties. Borrower will not, except in the ordinary course of business as currently conducted, make any loans or advances, become a guarantor or surety, or pledge its credit or properties, except as allowed by Borrower's stock option plan or loans extended to current employees not to exceed Twenty Thousand Dollars ($20,000) per employee.

Appears in 1 contract

Samples: Loan Agreement (Sparta Inc /De)

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Loans, Advances and Guaranties. Borrower will not, except in the ordinary course of business as currently conducted, make any loans or advances, become a guarantor or surety, or pledge its credit or propertiesproperties in any manner or extend credit, except as allowed by Borrower's stock option plan Stock Option Plan or loans extended to current employees not to exceed Twenty Thousand Dollars ($20,000) per employee.

Appears in 1 contract

Samples: Loan Agreement (Sparta Inc /De)

Loans, Advances and Guaranties. Borrower will not, except in the ordinary course of business as currently conducted, make any loans or advances, become a guarantor or surety, or pledge its credit or propertiesproperties in any manner or extend credit, except as allowed by Borrower's stock option plan Stock Option Plan or loans extended to current employees not to exceed Twenty Ten Thousand Dollars ($20,00010,000) per employee.

Appears in 1 contract

Samples: Loan Agreement (Sparta Inc /De)

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Loans, Advances and Guaranties. Borrower will not, except in the ordinary course of business as currently conducted, make any loans or advances, become a guarantor or surety, or pledge its credit or propertiesproperties in any manner or extend credit; provided, except as allowed by Borrower's stock option plan however, loans or loans extended advances to current employees Affiliates or Subsidiaries may be made in amounts not to exceed Twenty Thousand Ten Million Dollars ($20,00010,000,000) per employeefor property, plant and equipment.

Appears in 1 contract

Samples: Loan Agreement (Remec Inc)

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