Loans Prohibited Sample Clauses

The "Loans Prohibited" clause explicitly forbids one party from extending loans or advances to another party within the context of the agreement. In practice, this means that neither direct cash loans nor indirect forms of credit, such as advances or guarantees, are permitted between the parties covered by the contract. This clause is commonly used to prevent conflicts of interest, reduce financial risk, and ensure that the relationship remains strictly within the agreed commercial terms, thereby avoiding complications that could arise from informal or unauthorized lending.
Loans Prohibited. No loans shall be permitted to any Participant of any amounts reserved by the Company for his account under this Plan. No amount reserved by the Company for a Participant under this Plan shall be considered as part of the Participant's Savings Plan account balance for purposes of determining the maximum loan that can be borrowed from the Savings Plan. 18
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Loans Prohibited. 17 B.7 Vesting...........................................................17 B.8 Savings and Profit Sharing Plan Percentage of Pay Changes.........18 B.9 Distribution at Retirement or Termination.........................18 B.10 Distribution of Amounts Attributable to Excess Profit Sharing Contributions......................................18
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Loans Prohibited. 17 B.7 Vesting..................................................... 17 B.8 Savings and Profit Sharing Plan Percentage of Pay Changes... 18 B.9 Distribution at Retirement or Termination................... 18 B.10 Distribution of Amounts Attributable to Excess Profit Sharing Contributions................................ 18 PART C-Nonqualified ESOP.................................................. 21 C.1 Definitions................................................. 21 C.2 Participation............................................... 21 C.3 Treatment of Excess ESOP Contributions...................... 22 C.4 Earnings Credit............................................. 22 C.5 Vesting..................................................... 22 C.6 Distribution at Retirement or Termination................... 22 C.7
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Loans Prohibited. So long, as any amount remains outstanding under this Note, the Corporation shall not make, and shall not permit Deflecto to make, any loans, advances or other extensions of credit to the Corporation or any of its Affiliates, or except as expressly permitted by the terms of this Note, engage in any transaction that would give rise to any liability or other obligations owing to the Corporation or any of its Affiliates, other than liabilities or obligations created in the ordinary course of Deflecto's business.
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Loans Prohibited. The Owner may not borrow any money under the Contract or pledge the Annuity Account Value or any portion thereof as security for a loan.
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Related to Loans Prohibited

  • Gifts Prohibited The Consultant represents that it is familiar with Chapter 12.08 of the San ▇▇▇▇ Municipal Code, which generally prohibits a City officer or designated employee from accepting any gift. The Consultant shall not offer any City officer or designated employee any gift prohibited by Chapter 12.08. The Consultant’s violation of this Subsection 21.1 is a material breach.

  • USES PROHIBITED (a) Tenant shall not do nor permit anything to be done in or about the Premises nor bring or keep anything therein which will in any way increase the existing rate or affect any fire or other insurance upon the Building or any of its contents, or cause a cancellation of any insurance policy covering said Building or any part thereof or any of its contents, nor shall Tenant sell or permit to be kept, used or sold in or about said Premises any articles which may be prohibited by a standard form policy of fire insurance. (b) Tenant shall not do or permit anything to be done in or about the Premises which will in any way obstruct or interfere with the rights of other tenants or occupants of the Building, or injure or annoy them, or use or allow the Premises to be used for any unlawful or objectionable purpose, nor shall Tenant cause, maintain or permit any nuisance in or about the Premises. Tenant shall not commit or suffer to be committed any waste in or upon the Premises. Tenant shall not bring onto the Premises any apparatus, equipment or supplies that may overload the Premises or the Building or any utility or elevator systems or jeopardize the structural integrity of the Building or any part thereof. (c) Tenant shall not use the Premises or permit anything to be done in or about the Premises which will in any way conflict with, and at its sole cost and expense shall promptly comply with, any Legal Requirement now in force or which may hereafter be enacted or promulgated relating to the condition, use or occupancy of the Premises, excluding structural changes not relating to or affecting the condition, use or occupancy of the Premises or Tenant’s improvements or acts. The judgment of any court of competent jurisdiction or the admission of Tenant in any action against Tenant, whether Landlord be a party thereto or not, that Tenant has violated any Legal Requirement, shall be conclusive of the fact as between Landlord and Tenant.

  • ADVANCE PAYMENTS PROHIBITED No payments in advance of or in anticipation of goods or services to be provided under this contract shall be made by the AGENCY.

  • Excess Obligations Prohibited This Grant Agreement is subject to termination or cancellation, without penalty to System Agency, either in whole or in part, subject to the availability and actual receipt by System Agency of state or federal funds. System Agency is a state agency whose authority and appropriations are subject to actions of the Texas Legislature. If System Agency becomes subject to a legislative change, revocation of statutory authority, or lack of appropriated funds that would render either System Agency’s or Grantee’s delivery or performance under the Grant Agreement impossible or unnecessary, the Grant Agreement will be terminated or cancelled and be deemed null and void. In the event of a termination or cancellation under this Section, System Agency will not be liable to Grantee for any damages that are caused or associated with such termination or cancellation, and System Agency will not be required to give prior notice. Additionally, System Agency will not be liable to Grantee for any remaining unpaid funds under this Grant Agreement at time of termination.

  • Certain Actions Prohibited The Company will not, by amendment of its charter or through any reorganization, transfer of assets, consolidation, merger, dissolution, issue or sale of securities, or any other voluntary action, avoid or seek to avoid the observance or performance of any of the terms to be observed or performed by it hereunder, but will at all times in good faith assist in the carrying out of all the provisions of this Warrant and in the taking of all such action as may reasonably be requested by the holder of this Warrant in order to protect the exercise privilege of the holder of this Warrant against dilution or other impairment, consistent with the tenor and purpose of this Warrant. Without limiting the generality of the foregoing, the Company (i) will not increase the par value of any shares of Common Stock receivable upon the exercise of this Warrant above the Exercise Price then in effect, and (ii) will take all such actions as may be necessary or appropriate in order that the Company may validly and legally issue fully paid and nonassessable shares of Common Stock upon the exercise of this Warrant.