Loans, Advances and Investments. Except as permitted by Section 7.4(b), no Company will make any loan, advance, extension of credit, or capital contribution to, make any investment in, or purchase or commit to purchase any stock or other securities or evidences of Debt of, or interests in, any other Person, other than (a) Acquisitions, (b) expense accounts for and other loans and advances to directors, officers, and employees of such Company in the ordinary course of business not to exceed $1,000,000 in the aggregate outstanding at any time; (c) investments in (or secured by) obligations of the United States of America and agencies thereof and obligations guaranteed by the United States of America maturing within one year from the date of acquisition; (d) time deposits, banker's acceptances or certificates of deposit issued by any of the Lenders; (e) certificates of deposit, time deposits and banker's acceptances which are fully insured by the Federal Deposit Insurance Corporation or are issued by commercial banks organized under the Laws of the United States of America or any state thereof and having combined capital, surplus, and undivided profits of not less than $100,000,000 (as shown on such Person’s most recently published statement of condition), and which certificates of deposit have one of the two highest ratings from Xxxxx’x or S&P, unless Borrower has a written commitment to borrow funds from such commercial bank; (f) commercial paper rated A-2 or better by Xxxxx’x or P-2 or better by S&P; (g) investments having one of the two highest ratings from Xxxxx’x or S&P; (h) extensions of credit in connection with trade receivables and overpayments of trade payables, in each case resulting from transactions in the ordinary course of business; (i) loans from any Company to any other Company, investments by any Company in any other Company, capital contributions by any Company to any other Company, and Guaranties by any Company of the Debt of any other Company; (j) investments in the cash surrender value of life insurance policies issued by Persons with a financial rating from A.M. Best Company (as reported in Best’s Insurance Reports) of at least “A+”; provided, however, that if such Person’s financial rating is downgraded to less than “A+”, then within 90 days following such downgrading, either (i) such cash value life insurance policies will be transferred to another insurance company with a financial rating of at least “A+”, (ii) such cash value insurance policies will be collapsed and the cash value thereof will be collected by the investing Company, or (iii) such investment will become an investment subject to the limitations of subparagraph (n) of this Section 7.5; (k) the purchase of equity or debt securities of any Company, including the Borrower (but, in the case of equity securities of the Borrower, only to the extent permitted by Section 7.3), (l) investments in the capital stock or securities of or loans to or Guaranties of the Debt of any Person engaged in the same or a similar line of business as set forth on Schedule 4.17 hereto (or any reasonable extensions or expansions thereof) (i) in which a Company possesses (or will possess, after such investment) an equity ownership interest in such Person or (ii) secured by the borrower’s interest in such business; (m) in the ordinary course of business, investments in the capital stock of the Rural Telephone Bank, National Bank for Cooperatives, or the National Rural Utilities Cooperative Finance Corporation, or any other lender from whom the investing Company is intending to borrow money which requires such Company to make an equity investment in such lender in order to so borrow; (n)
Appears in 2 contracts
Samples: Credit Agreement (Centurytel Inc), Credit Agreement (Centurytel Inc)
Loans, Advances and Investments. Except as permitted by Section 7.4(b6.4(b), no Company will make any loan, advance, extension of credit, or capital contribution to, make any investment in, or purchase or commit to purchase any stock or other securities or evidences of Debt of, or interests in, any other Person, other than (a) the Verizon Acquisition, (b) Acquisitions, (bc) expense accounts for and other loans and advances to directors, officers, and employees of such Company in the ordinary course of business not to exceed $1,000,000 in the aggregate outstanding at any time; (cd) investments in (or secured by) obligations of the United States of America and agencies thereof and obligations guaranteed by the United States of America maturing within one year from the date of acquisition; (de) time deposits, banker's acceptances or certificates of deposit issued by any of the Lenders; (ef) certificates of deposit, time deposits and banker's acceptances deposit which are fully insured by the Federal Deposit Insurance Corporation or are issued by commercial banks organized under the Laws of the United States of America or any state thereof and having combined capital, surplus, and undivided profits of not less than $100,000,000 (as shown on such Person’s 's most recently published statement of condition), and which certificates of deposit have one of the two highest ratings from Xxxxx’x Moody's or S&P, unless Borrower has a written commitment to borrow funds from fxxxx xxom such commercial bank; (fg) commercial paper rated A-2 A-1 by Moody's or better by Xxxxx’x or P-2 or better P-1 by S&P; (gh) investments having one of the two highest ratings xxxxxxs from Xxxxx’x Moody's or S&P; (hi) extensions of credit in connection with trade receivables rexxxxxxxes and overpayments of trade payables, in each case resulting from transactions in the ordinary course of business; (ij) loans from any Company to any other Company, investments by any Company in any other Company, capital contributions by any Company to any other Company, and Guaranties by any Company of the Debt of any other Company; (jk) investments in the cash surrender value of life insurance policies issued by Persons with a financial rating from A.M. Best Company (as reported in Best’s 's Insurance Reports) of at least “"A+”"; provided, however, that if such Person’s 's financial rating is downgraded to less than “"A+”", then within 90 days following such downgrading, either (i) such cash value life insurance policies will be transferred to another insurance company with a financial rating of at least “"A+”", (ii) such cash value insurance policies will be collapsed and the cash value thereof will be collected by the investing Company, or (iii) such investment will become an investment subject to the limitations of subparagraph (no) of this Section 7.56.5; (k) the purchase of equity or debt securities of any Company, including the Borrower (but, in the case of equity securities of the Borrower, only to the extent permitted by Section 7.3), (l) investments in the capital stock or securities of or loans to or Guaranties of the Debt of any Person engaged in business comparable to the same or a similar line general business of business as set forth on Schedule 4.17 hereto any Company (or any reasonable extensions or expansions thereof) (ix) in which a Company possesses (or will possess, after such investment) an equity ownership interest in such Person or (iiy) secured by the borrower’s 's interest in such business; (m) in the ordinary course of business, investments in the capital stock of the Rural Telephone Bank, National Bank for Cooperatives, or the National Rural Utilities Cooperative Finance Corporation, or any other lender from whom the investing Company is intending to borrow money which requires such Company to make an equity investment in such lender in order to so borrow; (n)
Appears in 1 contract
Samples: Credit Agreement (Centurytel Inc)
Loans, Advances and Investments. Except as permitted by Section 7.4(b)SECTION 9.9 or SECTION 9.11, no Company will may make any loan, advance, extension of credit, credit or capital contribution to, make any investment in, or purchase or commit to purchase any stock or other securities or evidences of Debt of, or interests in, any other Person, other than (a) Acquisitions, (b) expense accounts for and other loans and advances to its directors, officers, officers and employees of such Company in the ordinary course of business not to exceed $1,000,000 in the aggregate outstanding at any timebusiness; (cb) investments in (marketable obligations issued or secured by) obligations of the United States of America and agencies thereof and obligations unconditionally guaranteed by the United States U.S. Government or issued by any of America its agencies and backed by the full faith and credit of the U. S., in each case maturing within one year from the date of acquisitionacquisition (and investments in mutual funds investing primarily in those obligations); (dc) time deposits, banker's acceptances or short-term investment grade domestic and eurodollar certificates of deposit issued by any of the Lenders; (e) certificates of deposit, or time deposits and banker's acceptances which that are fully insured by the Federal Deposit Insurance Corporation or are issued by commercial banks organized under the Laws of the United States of America or any state thereof and having combined capital, surplus, and undivided profits of not less than $100,000,000 (as shown on such Person’s its most recently published statement of condition); (d) commercial paper and similar obligations rated "P-1" by Moodx'x Xxxestors Service, Inc., or "A-1" by Standard & Poor's Ratings Group (a division of McGraw Hill, Inc.); (e) inter-Company loans and which certificates of deposit have one of the two highest ratings from Xxxxx’x or S&P, unless Borrower has a written commitment to borrow funds from such commercial bankadvances; (f) commercial paper readily marketable tax-free municipal bonds of a domestic issuer rated A-2 "Aaa" by Moodx'x Xxxestors Service, Inc., or better "AAA" by Xxxxx’x or P-2 or better by S&PStandard & Poors Ratings Group (a division of McGraw Hill, Inc.), and maturing within one year from the date of issuance (and investments in mutual funds investing primarily in those bonds); (g) investments having one demand deposit accounts maintained in the ordinary course of the two highest ratings from Xxxxx’x or S&Pbusiness; (h) other investments existing on the initial Loan Date and described on SCHEDULE 9.8 (and, with respect to Amatek and its Subsidiaries, existing on the date of Acquisition); (i) extensions of credit in connection with trade receivables and overpayments of trade payables, in each case resulting from transactions in the ordinary course of business; (i) loans from any Company to any other Company, investments by any Company in any other Company, capital contributions by any Company to any other Company, and Guaranties by any Company of the Debt of any other Company; (j) as long as no Default or Potential Default exists, other loans, advances, and investments in the cash surrender value of life insurance policies issued by Persons with a financial rating from A.M. Best Company (as reported in Best’s Insurance Reports) of at least “A+”; provided, however, that if such Person’s financial rating is downgraded to less aggregating no more than “A+”, then within 90 days following such downgrading, either (i) such cash value life insurance policies will be transferred to another insurance company with a financial rating of at least “A+”, (ii) such cash value insurance policies will be collapsed and the cash value thereof will be collected by the investing Company, or (iii) such investment will become an investment subject to the limitations of subparagraph (n) of this Section 7.5; (k) the purchase of equity or debt securities of any Company, including the Borrower (but, in the case of equity securities 5% of the Borrower, only to the extent permitted by Section 7.3), (l) investments in the capital stock or securities of or loans to or Guaranties of the Debt of Companies' Net Worth at any Person engaged in the same or a similar line of business as set forth on Schedule 4.17 hereto (or any reasonable extensions or expansions thereof) (i) in which a Company possesses (or will possess, after such investment) an equity ownership interest in such Person or (ii) secured by the borrower’s interest in such business; (m) in the ordinary course of business, investments in the capital stock of the Rural Telephone Bank, National Bank for Cooperatives, or the National Rural Utilities Cooperative Finance Corporation, or any other lender from whom the investing Company is intending to borrow money which requires such Company to make an equity investment in such lender in order to so borrow; (n)time.
Appears in 1 contract
Loans, Advances and Investments. Except as permitted by Section 7.4(b)5.13, no Company will make any loan, advance, extension of credit, or capital contribution to, make any investment in, or purchase or commit to purchase any stock or other securities or evidences of Debt of, or interests in, any other Person, other than (a) Acquisitions, (b) expense accounts for and other loans and advances to directors, officers, and employees of such Company in the ordinary course of business not to exceed $1,000,000 in the aggregate outstanding at any time; (c) investments in (or secured by) obligations of the United States of America and agencies thereof and obligations guaranteed by the United States of America maturing within one year from the date of acquisition; (d) time deposits, banker's acceptances or certificates of deposit issued by any of the Lenders; (e) certificates of deposit, time deposits and banker's acceptances deposit which are fully insured by the Federal Deposit Insurance Corporation or are issued by commercial banks organized under the Laws of the United States of America or any state thereof and having combined capital, surplus, and undivided profits of not less than $100,000,000 (as shown on such Person’s 's most recently published statement of condition), and which certificates of deposit have one of the two highest ratings from Xxxxx’x Moody's or S&P, unless Borrower has a written commitment to borrow funds borxxx xxxds from such commercial bank; (f) commercial paper rated A-2 A-1 by Moody's or better by Xxxxx’x or P-2 or better P-1 by S&P; (g) investments having one of the two highest ratings hixxxxx xatings from Xxxxx’x Moody's or S&P; (h) extensions of credit in connection with trade receivables traxx xxxxivables and overpayments of trade payables, in each case resulting from transactions in the ordinary course of business; (i) loans from any Company to any other Company, investments by any Company in any other Company, capital contributions by any Company to any other Company, and Guaranties by any Company of the Debt of any other Company; (j) investments in the cash surrender value of life insurance policies issued by Persons with a financial rating from A.M. Best Company (as reported in Best’s 's Insurance Reports) of at least “"A+”"; provided, however, that if such Person’s 's financial rating is downgraded to less than “"A+”", then within 90 days following such downgrading, either (i) such cash value life insurance policies will be transferred to another insurance company with a financial rating of at least “"A+”", (ii) such cash value insurance policies will be collapsed and the cash value thereof will be collected by the investing Company, or (iii) such investment will become an investment subject to the limitations of subparagraph (n) of this Section 7.55.14; (k) the purchase of equity or debt securities of any Company, including the Borrower (but, in the case of equity securities of the Borrower, only to the extent permitted by Section 7.3), (l) investments in the capital stock or securities of or loans to or Guaranties of the Debt of any Person engaged in business comparable to the same or a similar line general business of business as set forth on Schedule 4.17 hereto any Company (or any reasonable extensions or expansions thereof) (ix) in which a Company possesses (or will possess, after such investment) an equity ownership interest in such Person or (iiy) secured by the borrower’s 's interest in such business; (ml) in the ordinary course of business, investments in the capital stock of the Rural Telephone Bank, National Bank for Cooperatives, or the National Rural Utilities Cooperative Finance Corporation, or any other lender from whom the investing Company is intending to borrow money which requires such Company to make an equity investment in such lender in order to so borrow; (nm)
Appears in 1 contract
Samples: Credit Agreement (Centurytel Inc)
Loans, Advances and Investments. Except as permitted by Section 7.4(b6.4(b), no Company will make any loan, advance, extension of credit, or capital contribution to, make any investment in, or purchase or commit to purchase any stock or other securities or evidences of Debt of, or interests in, any other Person, other than (a) the Verizon Acquisition, (b) Acquisitions, (bc) expense accounts for and other loans and advances to directors, officers, and employees of such Company in the ordinary course of business not to exceed $1,000,000 in the aggregate outstanding at any time; (cd) investments in (or secured by) obligations of the United States of America and agencies thereof and obligations guaranteed by the United States of America maturing within one year from the date of acquisition; (de) time deposits, banker's acceptances or certificates of deposit issued by any of the Lenders; (ef) certificates of deposit, time deposits and banker's acceptances deposit which are fully insured by the Federal Deposit Insurance Corporation or are issued by commercial banks organized under the Laws of the United States of America or any state thereof and having combined capital, surplus, and undivided profits of not less than $100,000,000 (as shown on such Person’s 's most recently published statement of condition), and which certificates of deposit have one of the two highest ratings from Xxxxx’x Moody's or S&P, unless Borrower has a written commitment to borrow funds borrox xxxxx from such commercial bank; (fg) commercial paper rated A-2 A-1 by Moody's or better by Xxxxx’x or P-2 or better P-1 by S&P; (gh) investments having one of the two highest ratings highxxx xxxings from Xxxxx’x Moody's or S&P; (hi) extensions of credit in connection with trade receivables xxxxxxables and overpayments of trade payables, in each case resulting from transactions in the ordinary course of business; (ij) loans from any Company to any other Company, investments by any Company in any other Company, capital contributions by any Company to any other Company, and Guaranties by any Company of the Debt of any other Company; (jk) investments in the cash surrender value of life insurance policies issued by Persons with a financial rating from A.M. Best Company (as reported in Best’s 's Insurance Reports) of at least “"A+”"; provided, however, that if such Person’s 's financial rating is downgraded to less than “"A+”", then within 90 days following such downgrading, either (i) such cash value life insurance policies will be transferred to another insurance company with a financial rating of at least “"A+”", (ii) such cash value insurance policies will be collapsed and the cash value thereof will be collected by the investing Company, or (iii) such investment will become an investment subject to the limitations of subparagraph (no) of this Section 7.56.5; (k) the purchase of equity or debt securities of any Company, including the Borrower (but, in the case of equity securities of the Borrower, only to the extent permitted by Section 7.3), (l) investments in the capital stock or securities of or loans to or Guaranties of the Debt of any Person engaged in business comparable to the same or a similar line general business of business as set forth on Schedule 4.17 hereto any Company (or any reasonable extensions or expansions thereof) (ix) in which a Company possesses (or will possess, after such investment) an equity ownership interest in such Person or (iiy) secured by the borrower’s 's interest in such business; (m) in the ordinary course of business, investments in the capital stock of the Rural Telephone Bank, National Bank for Cooperatives, or the National Rural Utilities Cooperative Finance Corporation, or any other lender from whom the investing Company is intending to borrow money which requires such Company to make an equity investment in such lender in order to so borrow; (n)
Appears in 1 contract
Samples: Credit Agreement (Centurytel Inc)
Loans, Advances and Investments. Except as permitted by Section 7.4(b), no Company will make any loan, advance, extension of credit, or capital contribution to, make any investment in, or purchase or commit to purchase any stock or other securities or evidences of Debt of, or interests in, any other Person, other than (a) Acquisitions, (b) expense accounts for and other loans and advances to directors, officers, and employees of such Company in the ordinary course of business not to exceed $1,000,000 in the aggregate outstanding at any time; (c) investments in (or secured by) obligations of the United States of America and agencies thereof and obligations guaranteed by the United States of America maturing within one year from the date of acquisition; (d) time deposits, banker's acceptances or certificates of deposit issued by any of the Lenders; (e) certificates of deposit, time deposits and banker's acceptances which are fully insured by the Federal Deposit Insurance Corporation or are issued by commercial banks organized under the Laws of the United States of America or any state thereof and having combined capital, surplus, and undivided profits of not less than $100,000,000 (as shown on such Person’s 's most recently published statement of condition), and which certificates of deposit have one of the two highest ratings from Xxxxx’x Moody's or S&P, unless Borrower has a written commitment to borrow funds from fuxxx xxxm such commercial bank; (f) commercial paper rated A-2 or better by Xxxxx’x Moody's or P-2 or better by S&PS&P ; (g) investments having one of the two highest txx xxxxest ratings from Xxxxx’x Moody's or S&PS&P ; (h) extensions of credit in connection with trade receivables rexxxxxxxes and overpayments of trade payables, in each case resulting from transactions in the ordinary course of business; (i) loans from any Company to any other Company, investments by any Company in any other Company, capital contributions by any Company to any other Company, and Guaranties by any Company of the Debt of any other Company; (j) investments in the cash surrender value of life insurance policies issued by Persons with a financial rating from A.M. Best Company (as reported in Best’s 's Insurance Reports) of at least “"A+”"; provided, however, that if such Person’s 's financial rating is downgraded to less than “"A+”", then within 90 days following such downgrading, either (i) such cash value life insurance policies will be transferred to another insurance company with a financial rating of at least “"A+”", (ii) such cash value insurance policies will be collapsed and the cash value thereof will be collected by the investing Company, or (iii) such investment will become an investment subject to the limitations of subparagraph (n) of this Section 7.5; (k) the purchase of equity or debt securities of any Company, including the Borrower (but, in the case of equity securities of the Borrower, only to the extent permitted by Section 7.3), (l) investments in the capital stock or securities of or loans to or Guaranties of the Debt of any Person engaged in the same or a similar line of business as set forth on Schedule 4.17 hereto (or any reasonable extensions or expansions thereof) (i) in which a Company possesses (or will possess, after such investment) an equity ownership interest in such Person or (ii) secured by the borrower’s 's interest in such business; (m) in the ordinary course of business, investments in the capital stock of the Rural Telephone Bank, National Bank for Cooperatives, or the National Rural Utilities Cooperative Finance Corporation, or any other lender from whom the investing Company is intending to borrow money which requires such Company to make an equity investment in such lender in order to so borrow; (n)
Appears in 1 contract
Samples: Credit Agreement (Centurytel Inc)
Loans, Advances and Investments. Except as permitted by Section 7.4(b)5.13, no Company will make any loan, advance, extension of credit, or capital contribution to, make any investment in, or purchase or commit to purchase any stock or other securities or evidences of Debt of, or interests in, any other Person, other than (a) Acquisitions, (b) expense accounts for and other loans and advances to directors, officers, and employees of such Company in the ordinary course of business not to exceed $1,000,000 in the aggregate outstanding at any time; (c) investments in (or secured by) obligations of the United States of America and agencies thereof and obligations guaranteed by the United States of America maturing within one year from the date of acquisition; (d) time deposits, banker's acceptances or certificates of deposit issued by any of the Lenders; (e) certificates of deposit, time deposits and banker's acceptances deposit which are fully insured by the Federal Deposit Insurance Corporation or are issued by commercial banks organized under the Laws of the United States of America or any state thereof and having combined capital, surplus, and undivided profits of not less than $100,000,000 (as shown on such Person’s 's most recently published statement of condition), and which certificates of deposit have one of the two highest ratings from Xxxxx’x Moody's or S&P, unless Borrower has a written commitment to borrow funds from fuxxx xxxm such commercial bank; (f) commercial paper rated A-2 A-1 by Moody's or better P-1 by Xxxxx’x or P-2 or better by S&P; S&P (g) investments having one of the two highest ratings rxxxxxx from Xxxxx’x Moody's or S&P; S&P (h) extensions of credit in connection with trade receivables recexxxxxxx and overpayments of trade payables, in each case resulting from transactions in the ordinary course of business; (i) loans from any Company to any other Company, investments by any Company in any other Company, capital contributions by any Company to any other Company, and Guaranties by any Company of the Debt of any other Company; (j) investments in the cash surrender value of life insurance policies issued by Persons with a financial rating from A.M. Best Company (as reported in Best’s 's Insurance Reports) of at least “"A+”"; provided, however, that if such Person’s 's financial rating is downgraded to less than “"A+”", then within 90 days following such downgrading, either (i) such cash value life insurance policies will be transferred to another insurance company with a financial rating of at least “"A+”", (ii) such cash value insurance policies will be collapsed and the cash value thereof will be collected by the investing Company, or (iii) such investment will become an investment subject to the limitations of subparagraph (n) of this Section 7.55.14; (k) the purchase of equity or debt securities of any Company, including the Borrower (but, in the case of equity securities of the Borrower, only to the extent permitted by Section 7.3), (l) investments in the capital stock or securities of or loans to or Guaranties of the Debt of any Person engaged in business comparable to the same or a similar line general business of business as set forth on Schedule 4.17 hereto any Company (or any reasonable extensions or expansions thereof) (ix) in which a Company possesses (or will possess, after such investment) an equity ownership interest in such Person or (iiy) secured by the borrower’s 's interest in such business; (ml) in the ordinary course of business, investments in the capital stock of the Rural Telephone Bank, National Bank for Cooperatives, or the National Rural Utilities Cooperative Finance Corporation, or any other lender from whom the investing Company is intending to borrow money which requires such Company to make an equity investment in such lender in order to so borrow; (nm)
Appears in 1 contract
Samples: Credit Agreement (Centurytel Inc)
Loans, Advances and Investments. Except as permitted by Section 7.4(b), no Company will Not make and not permit any subsidiary to make any loan, advance, extension of credit, credit or capital contribution to, make any investment in, or purchase or commit to purchase any stock or other securities or evidences of Debt of, or interests in, any other Person, other than than: (a) Acquisitions, (bi) expense accounts for and other loans and advances to its directors, officers, officers and employees of such Company in the ordinary course of business not up to exceed an aggregate amount of $1,000,000 in the aggregate 500,000 outstanding at any time; (cii) investments in (marketable obligations issued or secured by) obligations unconditionally guaranteed by the United States Government or issued by any of its agencies and backed by the full faith and credit of the United States of America and agencies thereof and obligations guaranteed by the United States of America America, in each case maturing within one year from the date of acquisitionacquisition (and investments in mutual funds investing primarily in those obligations); (diii) time deposits, banker's acceptances or short-term investment grade domestic and eurodollar certificates of deposit issued by any of the Lenders; (e) certificates of deposit, or time deposits and banker's acceptances which that are fully insured by the Federal Deposit Insurance Corporation or are issued by commercial banks organized under the Laws of the United States of America or any state thereof and of its states having combined capital, surplus, and undivided profits of not less than $100,000,000 (as shown on such Person’s its most recently published statement of condition), and which certificates of deposit have one of the two highest ratings from Xxxxx’x or S&P, unless Borrower has a written commitment to borrow funds from such commercial bank; (fiv) commercial paper and similar obligations rated A-2 "P-1" or better by Xxxxx’x Xxxxx'x Investors Services, Inc., or P-2 "A-1" or better by S&PStandard & Poors Ratings Group (a division of McGraw Hill, Inc.); (gv) investments having one of the two highest ratings from Xxxxx’x in, and advances to, wholly-owned subsidiaries, or S&Pby a wholly-owned subsidiary in or to its parent; (hvi) extensions readily marketable tax-free municipal bonds of credit a domestic issuer rated "aaa" or better by Xxxxx'x Investors Service, Inc., or "AAA" or better by Standard & Poors Ratings Group (a division of McGraw Hill, Inc.), and maturing within one year from the date of issuance (and investments in connection with trade receivables and overpayments mutual funds investing primarily in those bonds); (vii) promissory notes up to an aggregate amount of trade payables, in each case resulting from transactions $3,000,000 outstanding at any time accepted as consideration for the disposition of properties described on Schedule 7.02(h); (viii) demand deposit accounts maintained in the ordinary course of business; and (iix) loans from any Company to any other Company, investments by any Company in any other Company, capital contributions by any Company to any other Company, current trade and Guaranties by any Company of the Debt of any other Company; (j) investments in the cash surrender value of life insurance policies issued by Persons with a financial rating from A.M. Best Company (as reported in Best’s Insurance Reports) of at least “A+”; provided, however, customer accounts receivable that if such Person’s financial rating is downgraded to less than “A+”, then within 90 days following such downgrading, either (i) such cash value life insurance policies will be transferred to another insurance company with a financial rating of at least “A+”, (ii) such cash value insurance policies will be collapsed and the cash value thereof will be collected by the investing Company, are for goods furnished or (iii) such investment will become an investment subject to the limitations of subparagraph (n) of this Section 7.5; (k) the purchase of equity or debt securities of any Company, including the Borrower (but, in the case of equity securities of the Borrower, only to the extent permitted by Section 7.3), (l) investments in the capital stock or securities of or loans to or Guaranties of the Debt of any Person engaged in the same or a similar line of business as set forth on Schedule 4.17 hereto (or any reasonable extensions or expansions thereof) (i) in which a Company possesses (or will possess, after such investment) an equity ownership interest in such Person or (ii) secured by the borrower’s interest in such business; (m) services rendered in the ordinary course of business, investments business and that are payable in the capital stock of the Rural Telephone Bank, National Bank for Cooperatives, or the National Rural Utilities Cooperative Finance Corporation, or any other lender from whom the investing Company is intending to borrow money which requires such Company to make an equity investment in such lender in order to so borrow; (n)accordance with customary trade terms.
Appears in 1 contract
Loans, Advances and Investments. Except as permitted by Section 7.4(b), no No Company will or Guarantor shall make any loan, advance, extension of credit, or capital contribution to, make any investment in, or purchase or commit to purchase any stock or other securities or evidences of Debt of, or interests in, any other Person, other than OTHER THAN (a) Acquisitionsreadily marketable, (b) expense accounts for direct, full faith and other loans and advances to directors, officers, and employees of such Company in the ordinary course of business not to exceed $1,000,000 in the aggregate outstanding at any time; (c) investments in (or secured by) credit obligations of the United States of America and agencies thereof and America, or obligations guaranteed by the full faith and credit of the United States of America America, maturing within not more than one year from the date of acquisition; (db) short term certificates of deposit and time deposits, banker's acceptances or certificates which mature within one year from the date of deposit issued by any of the Lenders; (e) certificates of deposit, time deposits issuance and banker's acceptances which are fully insured by the Federal Deposit Insurance Corporation or are issued by commercial banks organized under the Laws of the United States of America or any state thereof and having combined capital, surplus, and undivided profits of not less than $100,000,000 (as shown on such Person’s most recently published statement of condition), and which certificates of deposit have one of the two highest ratings from Xxxxx’x or S&P, unless Borrower has a written commitment to borrow funds from such commercial bankCorporation; (fc) commercial paper maturing in 365 days or less from the date of issuance and rated A-2 either "P-1" by Xxxxx'x Investors Service, Inc. ("MOODY'S"), or "A-1" by Standard and Poor's Rating Group (a division of XxXxxx-Xxxx, Inc., "S&P"); (d) debt instruments of a domestic issuer which mature in one year or less and which are rated "A" or better by Xxxxx’x Moody's or P-2 or better by S&PS&P on the date of acquisition of such investment; (ge) investments having one of the two highest ratings from Xxxxx’x or S&P; (h) extensions of credit in connection with trade receivables and overpayments of trade payables, in each case resulting from transactions demand deposit accounts which are maintained in the ordinary course of business; (if) loans, advances, extensions of credit, capital contributions, and other investments between Companies; (g) loans from any Company or advances to any other CompanyCellular Partnership Obligors, investments SO LONG AS such Debt incurrence by any Company in any other Company, capital contributions by any Company the Cellular Partnership Obligor is permitted pursuant to any other Company, SECTION 9.12(a)(vi) and Guaranties by any Company each of the conditions for such Debt of any other Companyincurrence as set forth in SECTION 9.12(a)(vi) have been satisfied; (jh) investments in the cash surrender value of life insurance policies issued by Persons with a financial rating from A.M. Best Company (as reported in Best’s Insurance Reports) of at least “A+”Permitted Acquisitions; provided, however, that if such Person’s financial rating is downgraded to less than “A+”, then within 90 days following such downgrading, either (i) such cash value life insurance policies will be transferred to another insurance company with a financial rating of at least “A+”, (ii) such cash value insurance policies will be collapsed and the cash value thereof will be collected by the investing Company, trade accounts receivable which are for goods furnished or (iii) such investment will become an investment subject to the limitations of subparagraph (n) of this Section 7.5; (k) the purchase of equity or debt securities of any Company, including the Borrower (but, in the case of equity securities of the Borrower, only to the extent permitted by Section 7.3), (l) investments in the capital stock or securities of or loans to or Guaranties of the Debt of any Person engaged in the same or a similar line of business as set forth on Schedule 4.17 hereto (or any reasonable extensions or expansions thereof) (i) in which a Company possesses (or will possess, after such investment) an equity ownership interest in such Person or (ii) secured by the borrower’s interest in such business; (m) services rendered in the ordinary course of business, business and are payable in accordance with customary trade terms; (i) other investments or commitments to make investments in cellular, local exchange, and PCS Systems ("SPECIAL INVESTMENTS"), SO LONG AS each such Special Investment does not exceed the capital stock following limitations, determined as of the Rural Telephone Bankdate such Special Investment is to be made (each, National Bank an "INVESTMENT DATE") and after giving effect to such Special Investment, and SO LONG AS on or prior to the Investment Date for Cooperativeseach such Special Investment, or Borrower provides to Administrative Agent a certificate and related PRO FORMA calculations demonstrating and confirming compliance with the National Rural Utilities Cooperative Finance Corporation, or any other lender from whom the investing Company is intending to borrow money which requires such Company to make an equity investment in such lender in order to so borrow; (n)following limitations:
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Samples: 364 Day Revolving Credit and Term Loan Agreement (Dobson Communications Corp)
Loans, Advances and Investments. Except as permitted by Section 7.4(b)5.14, no Company will make any loan, advance, extension of credit, or capital contribution to, make any investment in, or purchase or commit to purchase any stock or other securities or evidences of Debt of, or interests in, any other Person, other than (a) Acquisitionsthe Acquisition, (b) expense accounts for and other loans and advances to directors, officers, and employees of such Company in the ordinary course of business not to exceed $1,000,000 in the aggregate outstanding at any time; (c) investments in (or secured by) obligations of the United States of America and agencies thereof and obligations guaranteed by the United States of America maturing within one year from the date of acquisition; (d) time deposits, banker's acceptances or certificates of deposit issued by any of the Lenders; (e) certificates of deposit, time deposits and banker's acceptances deposit which are fully insured by the Federal Deposit Insurance Corporation or are issued by commercial banks organized under the Laws of the United States of America or any state thereof and having combined capital, surplus, and undivided profits of not less than $100,000,000 (as shown on such Person’s 's most recently published statement of condition), and which certificates of deposit have one of the two highest ratings from Xxxxx’x Moody's or S&P, unless Borrower has a written commitment to borrow funds from fuxxx xxxm such commercial bank; (f) commercial paper rated A-2 A-1 by Moody's or better by Xxxxx’x or P-2 or better P-1 by S&P; (g) investments having one of the two highest ratings highesx xxxxngs from Xxxxx’x Moody's or S&P; (h) extensions of credit in connection with trade receivables txxxx xxceivables and overpayments of trade payables, in each case resulting from transactions in the ordinary course of business; (i) loans from any Company to any other Company, investments by any Company in any other Company, capital contributions by any Company to any other Company, and Guaranties by any Company of the Debt of any other Company; (j) investments in the cash surrender value of life insurance policies issued by Persons with a financial rating from A.M. A. M. Best Company (as reported in Best’s 's Insurance Reports) of at least “"A+”"; provided, however, that if such Person’s 's financial rating is downgraded to less than “"A+”", then within 90 days following such downgrading, either (i) such cash value life insurance policies will be transferred to another insurance company with a financial rating of at least “"A+”", (ii) such cash value insurance policies will be collapsed and the cash value thereof will be collected by the investing Company, or (iii) such investment will become an investment subject to the limitations of subparagraph (n) of this Section 7.55.15; (k) the purchase of equity or debt securities of any Company, including the Borrower (but, in the case of equity securities of the Borrower, only to the extent permitted by Section 7.3), (l) investments in the capital stock or securities of or loans to or Guaranties of the Debt of any Person engaged in business comparable to the same or a similar line general business of business as set forth on Schedule 4.17 hereto any Company (or any reasonable extensions or expansions thereof) (ix) in which a Company possesses (or will possess, after such investment) an equity ownership interest in such Person or (iiy) secured by the borrower’s 's interest in such business; (ml) in the ordinary course of business, investments in the capital stock of the Rural Telephone Bank, National Bank for Cooperatives, or the National Rural Utilities Cooperative Finance Corporation, or any other lender from whom the investing Company is intending to borrow money which requires such Company to make an equity investment in such lender in order to so borrow; (nm)
Appears in 1 contract
Loans, Advances and Investments. Except as permitted by Section 7.4(b)5.14, no Company will make any loan, advance, extension of credit, or capital contribution to, make any investment in, or purchase or commit to purchase any stock or other securities or evidences of Debt of, or interests in, any other Person, other than (a) the Acquisitions, (b) expense accounts for and other loans and advances to directors, officers, and employees of such Company in the ordinary course of business not to exceed $1,000,000 in the aggregate outstanding at any time; (c) investments in (or secured by) obligations of the United States of America and agencies thereof and obligations guaranteed by the United States of America maturing within one year from the date of acquisition; (d) time deposits, banker's acceptances or certificates of deposit issued by any of the Lenders; (e) certificates of deposit, time deposits and banker's acceptances deposit which are fully insured by the Federal Deposit Insurance Corporation or are issued by commercial banks organized under the Laws of the United States of America or any state thereof and having combined capital, surplus, and undivided profits of not less than $100,000,000 (as shown on such Person’s 's most recently published statement of condition), and which certificates of deposit have one of the two highest ratings from Xxxxx’x Moody's or S&P, unless Borrower has a written hax x xxxtten commitment to borrow funds from such commercial bank; (f) commercial paper rated A-2 A-1 by Moody's or better by Xxxxx’x or P-2 or better P-1 by S&P; (g) investments invesxxxxxx having one of the two highest ratings from Xxxxx’x Moody's or S&P; (h) extensions of credit xx xxedit in connection with trade receivables and overpayments of trade payables, in each case resulting from transactions in the ordinary course of business; (i) loans from any Company to any other Company, investments by any Company in any other Company, capital contributions by any Company to any other Company, and Guaranties by any Company of the Debt of any other Company; (j) investments in the cash surrender value of life insurance policies issued by Persons with a financial rating from A.M. A. M. Best Company (as reported in Best’s 's Insurance Reports) of at least “A+”"A+ "; provided, however, that if such Person’s 's financial rating is downgraded to less than “"A+”", then within 90 days following such downgrading, either (i) such cash value life insurance policies will be transferred to another insurance company with a financial rating of at least “"A+”", (ii) such cash value insurance policies will be collapsed and the cash value thereof will be collected by the investing Company, or (iii) such investment will become an investment subject to the limitations of subparagraph (n) of this Section 7.55.15; (k) the purchase of equity or debt securities of any Company, including the Borrower (but, in the case of equity securities of the Borrower, only to the extent permitted by Section 7.3), (l) investments in the capital stock or securities of or loans to or Guaranties of the Debt of any Person engaged in business comparable to the same or a similar line general business of business as set forth on Schedule 4.17 hereto any Company (or any reasonable extensions or expansions thereof) (ix) in which a Company possesses (or will possess, after such investment) an equity ownership interest in such Person or (iiy) secured by the borrower’s 's interest in such business; (ml) in the ordinary course of business, investments in the capital stock of the Rural Telephone Bank, National Bank for Cooperatives, or the National Rural Utilities Cooperative Finance Corporation, or any other lender from whom the investing Company is intending to borrow money which requires such Company to make an equity investment in such lender in order to so borrow; (nm)
Appears in 1 contract
Samples: Agreement (Centurytel Inc)