Loans out. (a) Except as provided below, the Borrower shall not (and shall ensure that no other Group Member will) be the creditor in respect of any Financial Indebtedness. (b) Paragraph (a) does not apply to: (i) trade credit extended by Group member on normal commercial terms and in the ordinary course of its trading activities; or (ii) any deposit placed with a bank or financial institution in accordance with the provisions of the Finance Documents.
Appears in 3 contracts
Samples: Facility Agreement (China Security & Surveillance Technology, Inc.), Facility Agreement (Harbin Electric, Inc), Facility Agreement (China Security & Surveillance Technology, Inc.)
Loans out. (a) Except as provided permitted under paragraph (b) below, the Borrower shall not (and shall ensure that no other Group Member will) be the creditor in respect of any Financial Indebtedness.
(b) Paragraph (a) does not apply to:
(i) trade credit extended by Group member on normal commercial terms and in the ordinary course of its trading activities; or
(ii) any deposit placed with a bank or financial institution in accordance with the provisions of the Finance Documents.
Appears in 3 contracts
Samples: Facility Agreement (Zhongpin Inc.), Facility Agreement (Fushi Copperweld, Inc.), Facility Agreement (China TransInfo Technology Corp.)
Loans out. (a) Except as provided in paragraph (b) below, no member of the Borrower shall not (and shall ensure that no other Group Member will) may be the creditor in respect of any Financial Indebtedness.
(b) Paragraph (a) above does not apply to:
(i) trade credit extended by Group member on normal commercial terms and in the ordinary course of its trading activitiesa Permitted Loan;
(ii) a Permitted Guarantee; or
(iiiii) any deposit placed with a bank or financial institution in accordance with the provisions of the Finance DocumentsPermitted Transaction.
Appears in 2 contracts
Samples: Loan Note Facility (Babylon Holdings LTD), Loan Agreement (Babylon Holdings LTD)
Loans out. (a) Except as provided below, the Borrower shall not (and shall ensure that no other Group Member (other than the Operating Companies) will) be the creditor in respect of any Financial Indebtedness.
(b) Paragraph (a) does not apply to:
(i) trade credit extended by Group member Member on normal commercial terms and in the ordinary course of its trading activities; or;
(ii) any deposit placed with a bank or financial institution in accordance with the provisions of the Finance Documentsinstitution; or
(iii) Financial Indebtedness permitted under Clause 19.16(b) (Financial Indebtedness) owing by one Group Member to another Group Member.
Appears in 1 contract
Samples: Facility Agreement (Guoren Industrial Developments LTD)
Loans out. (a) Except as provided permitted under paragraph (b) below, the Borrower each Obligor shall not (and shall ensure that no other Group Member will) be the creditor in respect of any Financial Indebtedness.
(b) Paragraph (a) does not apply to:
(i) trade credit extended by a Group member Member on normal commercial terms and in the ordinary course of its trading activities; or;
(ii) any deposit placed with a bank or financial institution in accordance with the provisions of the Finance Documents;
(iii) the Liaoning King Loan;
(iv) the LSSTD Loans; or
(v) the LSBP Loan.
Appears in 1 contract
Samples: Facilities Agreement (3SBio Inc.)
