Common use of LOANS, ADVANCES, INVESTMENTS Clause in Contracts

LOANS, ADVANCES, INVESTMENTS. Etc. Make or commit or agree to make any loan, advance, guarantee of obligations, other extension of credit or capital contributions to, or hold or invest in or commit or agree to hold or invest in, or purchase or otherwise acquire or commit or agree to purchase or otherwise acquire any shares of the Capital Stock, bonds, notes, debentures or other securities of, or make or commit or agree to make any other Investment in, any other Person, or purchase or own any futures contract or otherwise become liable for the purchase or sale of currency or other commodities at a future date in the nature of a futures contract, or permit any of its Subsidiaries to do any of the foregoing, except for: (i) Investments existing on the date hereof, as set forth on Schedule 6.02(e). but not any increase in the amount thereof as set forth in such Schedule or any other modification of the terms thereof, (ii) loans, advances or other Investments by (A) a Loan Party or a Foreign Subsidiary to or in a Loan Party, in each case, made in the ordinary course of business, provided that such loan, advance or other Investment shall be subject to an Intercompany Subordination Agreement and (B) a Loan Party to or in a Foreign Subsidiary made in the ordinary course of business and not exceeding in the aggregate for all Loan Parties and Foreign Subsidiaries at any one time outstanding $500,000, (iii) loans and advances by a Loan Party or any of its Subsidiaries to its officers, directors, employees, agents, customers or suppliers for moving, entertainment, travel and other expenses in the ordinary course of business and not exceeding in the aggregate for all Loan Parties and their Subsidiaries at any one time outstanding $250,000, (iv) Permitted Investments, (v) Investments consisting of Capital Stock, obligations, securities or other property received by any Loan Party in settlement of accounts receivable or other Indebtedness (created in the ordinary course of business) from bankrupt obligors, (vi) Investments consisting of Permitted Indebtedness, (vii) Permitted Acquisitions and (viii) other Investments by a Loan Party or any of its Subsidiaries in an aggregate amount for all Loan Parties and their Subsidiaries not to exceed $1,000,000 at any time; provided that, notwithstanding the foregoing, until the Xanodyne Acquisition Trigger Date, no Loan Party or Subsidiary of a Loan Party shall be permitted to make any Investment in Xanodyne Acquisition, LLC.

LOANS, ADVANCES, INVESTMENTS. Etc. Make or commit or agree to make any loan, advance, guarantee of obligations, or obligations or other extension of credit or capital contributions contribution to, or hold or invest in or commit or agree to hold or invest in, or purchase or otherwise acquire or commit or agree to purchase or otherwise acquire any shares of the Capital Stock, bonds, notes, debentures or other securities of, or make or commit or agree to make any other Investment investment in, any other Person, or purchase or own any futures contract or otherwise become liable for the purchase or sale of currency or other commodities at a future date in the nature of a futures contract, or permit any of its Subsidiaries to do any of the foregoing, except for: (i) Investments investments existing on the date hereofClosing Date, as set forth on Schedule 6.02(e). 6.2(e) hereto, but not any increase in the amount thereof as set forth in such Schedule or any other modification of the terms thereof, (ii) loanstransfers, investments or loans permitted by Section 6.2(c)(ii) or in connection with the Corporate Restructuring or the Mortgage Receivables Sale Transaction, (iii) other loans and advances or other Investments by (A) a any Loan Party or a Foreign Subsidiary to or in a another Loan Party, in each caseor guarantees by any Loan Party for the benefit of another Loan Party, made in the ordinary course of business, provided that such loan, advance or (iv) other Investment shall be subject to an Intercompany Subordination Agreement loans and (B) a advances by any Loan Party to any Subsidiary thereof that constitute Permitted Indebtedness, (v) purchase money loans made by any Loan Party to the purchasers of Time Share Inventory in the ordinary course of business, (v) Permitted Investments, (vi) acquisitions of the Warrants or shares of New Sunterra Common Stock, in a Foreign Subsidiary each case in accordance with the provisions of the Warrant Agreement ("Warrant Acquisitions"), (vii) other loans and advances by any Loan Party to any homeowners' association made in the ordinary course of business and not exceeding in business; provided, the aggregate for principal amount of all Loan Parties and Foreign Subsidiaries at any one time outstanding $500,000, (iii) such loans and advances by a Loan Party or outstanding shall not exceed (x) $2,000,000 for any such loans and advances made as of its Subsidiaries to its officersthe Closing Date, directorsand (y) $2,000,000 for any such loans and advances made after the Closing Date, employees, agents, customers or suppliers for moving, entertainment, travel and other expenses in the ordinary course of business and not exceeding in the aggregate for all Loan Parties and their Subsidiaries at any one time outstanding $250,000, (iv) Permitted Investments, (v) Investments consisting of Capital Stock, obligations, securities or other property received by any Loan Party in settlement of accounts receivable or other Indebtedness (created in the ordinary course of business) from bankrupt obligors, (vi) Investments consisting of Permitted Indebtedness, (vii) Permitted Acquisitions and (viii) other Investments by a Loan Party or any loans required to be made to the Litigation Trust in accordance with the requirements of its Subsidiaries in an aggregate amount for all Loan Parties and their Subsidiaries not to exceed $1,000,000 at any time; provided that, notwithstanding the foregoing, until the Xanodyne Acquisition Trigger Date, no Loan Party or Subsidiary Plan of a Loan Party shall be permitted to make any Investment in Xanodyne Acquisition, LLCReorganization.

LOANS, ADVANCES, INVESTMENTS. Etc. Make or commit or agree to make any loan, advance, guarantee of obligations, other extension of credit or capital contributions to, or hold or invest in or commit or agree to hold or invest in, or purchase or otherwise acquire or commit or agree to purchase or otherwise acquire any shares of the Capital Stock, bonds, notes, debentures or other securities of, or make or commit or agree to make any other Investment investment in, any other Person, or purchase or own any futures contract or otherwise become liable for the purchase or sale of currency or other commodities at a future date in the nature of a futures contract, or permit any of its Subsidiaries to do any of the foregoing, except for: (i) Investments existing on the date hereof, as set forth on Schedule 6.02(e). 7.02(e) hereto, but not any increase in the amount thereof as set forth in such Schedule or any other modification of the terms thereof, (ii) loans, advances or other Investments by (A) a Loan Party or a Foreign Subsidiary to or in a Loan Party, in each case, made in the ordinary course of business, provided that such loan, advance or other Investment shall be subject to an Intercompany Subordination Agreement and (B) a Loan Party to or in a Foreign Subsidiary made in the ordinary course of business and not exceeding in the aggregate for all Loan Parties and Foreign Subsidiaries at any one time outstanding $500,0001,000,000 (excluding advances of payroll in the ordinary course of business), (iii) loans and advances by a Loan Party or any of its Subsidiaries to its officers, directors, employees, agents, customers or suppliers for moving, entertainment, travel and other expenses in the ordinary course of business and not exceeding in the aggregate for all Loan Parties and their Subsidiaries at any one time outstanding $250,000750,000, (iv) Permitted Investments, (v) Investments consisting of Capital Stock, obligations, securities or other property received by any Loan Party in settlement of accounts receivable or other Indebtedness (created in the ordinary course of business) from bankrupt obligors, (vi) Investments consisting of Permitted Indebtednessequity securities listed on the New York Stock Exchange, the American Stock Exchange or the National Association of Securities Dealers Automated Quotations system, provided that the purchase price paid for all such equity securities held at any time shall not exceed $250,000, (vii) Investments consisting of Indebtedness permitted by Section 7.02(b), (viii) Permitted Acquisitions and (viiiix) other Investments by a Loan Party or any of its Subsidiaries in an aggregate amount for all Loan Parties and their Subsidiaries not to exceed $1,000,000 1,500,000 at any time; provided that, notwithstanding the foregoing, until the Xanodyne Acquisition Trigger Date, no Loan Party or Subsidiary of a Loan Party shall be permitted to make any Investment in Xanodyne Acquisition, LLC.

LOANS, ADVANCES, INVESTMENTS. Etc. Make or commit or agree to make any loan, advance, guarantee of obligations, other extension of credit or capital contributions to, or hold or invest in or commit or agree to hold or invest in, or purchase or otherwise acquire or commit or agree to purchase or otherwise acquire any shares of the Capital Stock, bonds, notes, debentures or other securities of, or make or commit or agree to make any other Investment investment in, any other Person, or purchase or own any futures contract or otherwise become liable for the purchase or sale of currency or other commodities at a future date in the nature of a futures contract, or permit any of its Subsidiaries to do any of the foregoing, except for: (i) Investments in connection with one or more Projects or new projects in accordance with the terms hereof, any loan, advance, guarantee of obligations or other extension of credit (A) outstanding as of the Effective Date as listed on Schedule 6.02(e), (B) to be made following the Effective Date as contemplated by and in accordance with the Business Plan (but not including any Contingent Obligation of any Loan Party related to the Projects or other projects developed in accordance herewith except the Pawnee Guaranty) (which together with Capital Expenditures pursuant to clause (g) below shall not exceed $5,000,000 in respect of new projects developed in accordance with the terms hereof), or (C) otherwise made with the written consent of the Required Lenders (not to be unreasonably withheld if no Event of Default shall have occurred and be continuing), (ii) the Pawnee Guaranty, (iii) investments existing on the date hereof, as set forth on Schedule 6.02(e). ) hereto, but not any increase in the amount thereof as set forth in such Schedule or any other modification of the terms thereof, (iiiv) loans, temporary loans and advances or other Investments by the Parent to a Subsidiary (Ain accordance with the Business Plan) a Loan Party that owns the Projects or a Foreign new project to be developed in accordance herewith, (v) Permitted Investments (vi) Investments in Subsidiaries (other than Inactive Subsidiaries, provided each such Subsidiary to or in is a Loan Party, ) and Investments in each case, made Inactive Subsidiaries in the ordinary course of business, provided that such loan, advance or other Investment shall be subject to an Intercompany Subordination Agreement and (B) a Loan Party to or in a Foreign Subsidiary made in the ordinary course of business and not exceeding in the aggregate amount for all Loan Parties and Foreign such Inactive Subsidiaries not to exceed $100,000 at any one time outstanding $500,000time, and (iiivii) loans and advances by a Loan Party or any of its Subsidiaries to its officers, directors, employees, agents, customers or suppliers employees for moving, entertainment, travel and other similar expenses in the ordinary course of business and not exceeding in the aggregate for all Loan Parties and their Subsidiaries at any one time outstanding $250,000, (iv) Permitted Investments, (v) Investments consisting of Capital Stock, obligations, securities or other property received by any Loan Party in settlement of accounts receivable or other Indebtedness (created in the ordinary course of business) from bankrupt obligors, (vi) Investments consisting of Permitted Indebtedness, (vii) Permitted Acquisitions and (viii) other Investments by a Loan Party or any of its Subsidiaries in an aggregate amount for all Loan Parties and their Subsidiaries not to exceed $1,000,000 250,000 in the aggregate at any time; provided that, notwithstanding the foregoing, until the Xanodyne Acquisition Trigger Date, no Loan Party or Subsidiary of a Loan Party shall be permitted to make any Investment in Xanodyne Acquisition, LLCtime outstanding.

LOANS, ADVANCES, INVESTMENTS. Etc. Make or commit or agree to make any loan, advance, guarantee of obligations, other extension of credit or capital contributions to, or hold or invest in or commit or agree to hold or invest in, or purchase or otherwise acquire or commit or agree to purchase or otherwise acquire any shares of the Capital Stock, bonds, notes, debentures or other securities of, or make or commit or agree to make any other Investment investment in, any other Person, or purchase or own any futures contract or otherwise become liable for the purchase or sale of currency or other commodities at a future date in the nature of a futures contract, or permit any of its Subsidiaries to do any of the foregoing, except for: (i) Investments existing on the date hereof, as set forth on Schedule 6.02(e). 8.02(e) hereto, but not any increase in the amount thereof as set forth in such Schedule or any other modification of the terms thereof, (ii) loans, advances or other Investments by (A) a Loan Party or a Foreign Subsidiary to or in a Loan Party, in each case, made in the ordinary course of business, provided that such loan, advance or other Investment shall be subject to an Intercompany Subordination Agreement and (B) a Loan Party to or in a Foreign the German Subsidiary made in the ordinary course of business and not exceeding in the aggregate for all Loan Parties and Foreign Subsidiaries to the German Subsidiary at any one time outstanding $500,000500,000 (excluding advances of payroll in the ordinary course of business, which advances are permitted hereunder), (iii) loans and advances by a Loan Party or any of its Subsidiaries to its officers, directors, employees, agents, customers customers, suppliers or suppliers manufacturers for moving, entertainment, travel and other expenses in the ordinary course of business and not exceeding in the aggregate for all Loan Parties and their Subsidiaries at any one time outstanding (A) prior to the consummation of the Pharma Sale, $250,000750,000 and (B) thereafter, $350,000, (iv) Permitted Investments, (v) Investments consisting of Capital Stock, obligations, securities or other property received by any Loan Party in settlement of accounts receivable or other Indebtedness (created in the ordinary course of business) from bankrupt obligors, (vi) Investments consisting of Permitted IndebtednessIndebtedness permitted by Section 8.02(b), and (vii) Permitted Acquisitions and (viii) other Investments by a Loan Party or not permitted under any of its Subsidiaries in an aggregate amount for all Loan Parties and their Subsidiaries not to exceed $1,000,000 at any time; provided that, notwithstanding the foregoing, until the Xanodyne Acquisition Trigger Date, no Loan Party or Subsidiary clauses (i) through (vi) of a Loan Party shall be permitted to make any Investment in Xanodyne Acquisition, LLC.this