Common use of Loans and Advances Clause in Contracts

Loans and Advances. The Borrower will not make (and will not permit any Subsidiary to make) any loans or advances to any Person, including, without limitation, the Borrower's directors, officers and employees, except advances to such directors, officers or employees with respect to expenses incurred by them in the ordinary course of their duties and advances against salary, all of which loans and advances will not exceed, in the aggregate, $250,000 outstanding at any one time.

Appears in 3 contracts

Samples: Term Loan Agreement (Organogenesis Inc), Term Loan Agreement (Biotransplant Inc), Loan Agreement (Geltex Pharmaceuticals Inc)

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Loans and Advances. The Borrower will not make (and will not permit any Subsidiary to make) any loans or advances to any Person, including, without limitation, the Borrower's directors, officers and employees, except advances to such directors, officers or employees with respect to expenses incurred by them in the ordinary course of their duties and advances against salary, all of which loans and advances will not exceed, in the aggregate, $250,000 100,000 outstanding at any one time.

Appears in 2 contracts

Samples: Revolving Loan Agreement (Augment Systems Inc), Revolving Loan Agreement (Voicetek Corp)

Loans and Advances. The Borrower will not make (and will not permit any Subsidiary to make) any loans or advances to any Person, including, without limitation, the Borrower's directors, officers and employees, except advances to such directors, officers or employees with respect to expenses incurred by them in the ordinary course of their duties and advances against salary, all of which loans and advances will not exceed, in the aggregate, $250,000 500,000 outstanding at any one time.

Appears in 2 contracts

Samples: Revolving Line of Credit Agreement (Zoom Telephonics Inc), Term Loan Agreement (Arqule Inc)

Loans and Advances. The Borrower will not make (and will not permit any Subsidiary to make) any loans or advances to any Person, including, without limitation, the Borrower's directors, officers and employees, except (i) travel advances and other expense advances made to such directors, officers or and employees with respect to expenses incurred by them in the ordinary course of their duties and advances against salary, all of which repaid in the ordinary course and (ii) other loans and advances will to officers and employees in an aggregate amount not exceed, in the aggregate, to exceed $250,000 25,000 outstanding at any one time.

Appears in 1 contract

Samples: Revolving Loan Agreement (Palomar Medical Technologies Inc)

Loans and Advances. The Borrower will not make (and will not permit any Subsidiary to make) any loans or advances to any Person, including, without limitation, the Borrower's directors, officers and employees, except advances to such directors, officers or employees with respect to expenses incurred by them in the ordinary course of their duties and advances against salary, all of which loans and advances will not exceed, in the aggregate, $250,000 200,000 outstanding at any one time.

Appears in 1 contract

Samples: Loan Agreement (Genome Therapeutics Corp)

Loans and Advances. The Borrower will not make any loans or advances ------------------ (and will not permit any Subsidiary of its Subsidiaries to make) make any loans or advances advances) to any Person, including, without limitation, the Borrower's directors, officers and employees, except advances to such directors, officers or employees with respect to expenses incurred by them in the ordinary course of their duties and advances against salary, all of which loans and advances will not exceed, in the aggregate, $250,000 outstanding at any one time.

Appears in 1 contract

Samples: Loan Agreement (Peritus Software Services Inc)

Loans and Advances. The Borrower will not make (and will not permit any Subsidiary to make) any loans or advances to any Person, including, without limitation, the Borrower's directors, officers and employees, except advances to such directors, officers or employees with respect to expenses incurred by them in the ordinary course of their duties and advances against salary, all of which loans and advances will not exceed, in the aggregate, $250,000 300,000 outstanding at any one time.

Appears in 1 contract

Samples: Term Loan Agreement (Diacrin Inc /De/)

Loans and Advances. The Borrower will not make (and will not permit any Subsidiary to make) any loans or advances to any Person, including, without limitation, the Borrower's directors, officers and employees, except advances to such directors, officers or employees with respect to expenses incurred by them in the ordinary course of their duties and advances against salary, all of which loans and advances will not exceed, in the aggregate, $250,000 outstanding at any one time.

Appears in 1 contract

Samples: Revolving Loan Agreement (Exchange Applications Inc)

Loans and Advances. The Borrower will not make (and will not permit ------------------ any Subsidiary to make) any loans or advances to any Person, including, without limitation, the Borrower's directors, officers and employees, except advances to such directors, officers or employees with respect to expenses incurred by them in the ordinary course of their duties and advances against salarysalesmen's commissions and employees' salaries, all of which loans and advances will not exceed, in the aggregate, $250,000 outstanding at any one time.

Appears in 1 contract

Samples: Term Loan Agreement (Sycamore Networks Inc)

Loans and Advances. The Borrower will not make (and will not permit ------------------ any Subsidiary to make) any loans or advances to any Person, including, without limitation, the Borrower's directors, officers and employees, except advances to such directors, officers or employees with respect to expenses incurred by them in the ordinary course of their duties and advances against salary, all of which loans and advances will not exceed, in the aggregate, $250,000 100,000 outstanding at any one time.

Appears in 1 contract

Samples: Revolving Loan Agreement (Candela Corp /De/)

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Loans and Advances. The Borrower will not make any loans or advances (and will not permit any Subsidiary of its Subsidiaries to make) make any loans or advances advances) to any Person, including, without limitation, the Borrower's directors, officers and employees, except advances to such directors, officers or employees with respect to expenses incurred by them in the ordinary course of their duties and advances against salary, all of which loans and advances will not exceed, in the aggregate, $250,000 outstanding at any one time.

Appears in 1 contract

Samples: Loan Agreement (Micrion Corp /Ma/)

Loans and Advances. The Borrower will not make (and will not permit any Subsidiary to make) any loans or advances to any Person, including, without limitation, the Borrower's directors, officers and employees, except advances to such directors, officers or employees with respect to expenses incurred by them in the ordinary course Course of their duties and advances against salary, all of which loans and advances will not exceed, in the aggregate, $250,000 100,000 outstanding at any one time.

Appears in 1 contract

Samples: Term Loan Agreement (Concord Communications Inc)

Loans and Advances. The Borrower will not make (and will not permit any Subsidiary to make) any loans or advances to any Person, including, without limitation, the Borrower's ’s directors, officers and employees, except advances to such directors, officers or employees with respect to expenses incurred by them in the ordinary course of their duties and advances against salaryduties, all of which loans and advances will not exceed, in the aggregate, $250,000 50,000 outstanding at any one time.

Appears in 1 contract

Samples: Loan Agreement (MDRNA, Inc.)

Loans and Advances. The Borrower will not make (and will not permit any Subsidiary to make) any loans or advances to any Person, including, without limitation, the Borrower's directors, officers and employees, except advances to such directors, officers or employees with respect to expenses incurred by them in the ordinary course of their duties and advances against salary, all of which loans and advances will not exceed, in the aggregate, $250,000 25,000 outstanding at any one time.

Appears in 1 contract

Samples: Term Loan Agreement (Quantum Bridge Communications Inc)

Loans and Advances. The Borrower will not make (and will not permit any Subsidiary to make) any loans or advances to any Person, including, without limitation, the Borrower's directors, officers and employees, except advances to such directors, officers or employees with respect to expenses incurred by them in the ordinary course of their duties and advances against salaryother loans to any such directors, officers or employees, all of which loans and advances will not exceed, in the aggregate, $250,000 1,000,000 outstanding at any one time.

Appears in 1 contract

Samples: Term Loan Agreement (Transkaryotic Therapies Inc)

Loans and Advances. The Borrower will not make any loans or advances (and will not permit any Subsidiary of its Subsidiaries to make) make any loans or advances advances) to any Person, including, without limitation, the Borrower's directors, officers and employees, except advances to such directors, officers or employees with respect to expenses incurred by them in the ordinary course of their duties and advances against salary, all of which loans and advances will not exceed, in the aggregate, $250,000 300,000 outstanding at any one time.

Appears in 1 contract

Samples: Loan Agreement (Abiomed Inc)

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