Loans to Subsidiaries. Notwithstanding anything in this Agreement to the contrary, the Company may, but will have no obligation to, make loans to any direct or indirect Subsidiary for development, improvement, leasing or marketing of the Property or otherwise in furtherance of the purposes of this Agreement to maximize the value of the Property.
Loans to Subsidiaries. After the date hereof, the Company shall not, directly or indirectly, lend to or invest in, any Subsidiary of the Company without causing such Subsidiary (i) to execute a guaranty in the amount of such funds received from the Company guaranteeing the principal and interest of the Notes with the Collateral Agent for the ratable benefit of the holders of the Company Notes and (ii) to grant to the Collateral Agent, for the ratable benefit of the holders of the Company Notes, a security interest in the amount of such funds received from the Company in all of such Subsidiary’s tangible and intangible assets.”
(k) Section 9(e) of each of the Securities Purchase Agreements is hereby amended and restated, in its entirety, as follows:
Loans to Subsidiaries. Neither the Company nor any Subsidiary shall make any loan to any Subsidiary or HemaSure A/S.
Loans to Subsidiaries. Section 8.02(j) is amended by inserting the words "or permit to remain outstanding" after the words "Neither Borrower nor any Subsidiary of Borrower will make", and Section 8.02(j)(i) is amended by replacing the words "any Subsidiary of Borrower" with the words "any other Borrower".
Loans to Subsidiaries. 49 Section 4.14. Corporate Existence........................................................50 Section 4.15. Offer to Repurchase Upon Change of Control.................................50 Section 4.16. Limitation on Sale and Leaseback Transactions..............................51 Section 4.17. Limitation on Issuances and Sales of Capital Stock of Wholly Owned Subsidiaries.............................................................51 Section 4.18. Limitation on Issuances of Guarantees of Indebtedness......................52
Loans to Subsidiaries. All loans to Subsidiaries made by the Company from time to time after the date hereof shall be evidenced by unsecured Subsidiary Intercompany Notes in favor of the Company that will be pledged to the Collateral Agent pursuant to the Pledge Agreement as Collateral to secure the Notes. All loans by the Company to any Subsidiary outstanding on the date hereof shall be evidenced by an unsecured Subsidiary Intercompany Note that will be pledged to the Collateral Agent pursuant to the Pledge Agreement as Collateral for the Notes; provided, however, that a Subsidiary Intercompany Note of a foreign Subsidiary shall not be pledged to the Collateral Agent in the event the result would be a materially adverse tax consequence to the Company. Each Subsidiary Intercompany Note will be payable upon demand and will bear interest at a market rate. A form of Subsidiary Intercompany Note is attached hereto as Exhibit G. Repayments of principal with respect to any Subsidiary Intercompany Note will be required to be pledged to the Collateral Agent pursuant to the Pledge Agreement as Collateral to secure the Notes until such amounts are repaid.
Loans to Subsidiaries. Not to make any loans or advances to any of the Borrower's subsidiaries.
Loans to Subsidiaries. Not to make any loans or advances to any of the Borrower's subsidiaries, except loans or advances in existence on the date of this Agreement disclosed in writing to the Bank.
Loans to Subsidiaries. Until the earlier to occur of a Default or the Revolving Termination Date, Borrower, with Agent's prior written approval, may provide each of the following Subsidiaries with a revolving line of credit (the "Subsidiary Debt"): (a) HMT Inc. in the amount of $15,000,000, (b) Browx-Xxxneapolis Tank & Fabricating Co. in the amount of $15,000,000, (c) Texoma Tank Company, Inc. in the amount of $7,000,000, (d) Gravxx Xxxk & Mfg. Co., Inc. in the amount of $10,000,000, and (e) Trusco Tank Inc. in the amount of $10,000,000. The Subsidiary Debt shall be evidenced by promissory notes in form approved by Lenders, and secured by
(a) a second priority perfected security interest (second only to Lenders) in all of such Subsidiary's general intangibles, equipment, inventory, accounts receivable, instruments, chattel paper and documents as provided in a security agreement, the form of which shall be approved by Lenders, (b) a second lien (second only to Lenders) in the real property and related improvements that are being pledged to Lenders by Browx-Xxxneapolis Tank & Fabricating Co., and (c) a second lien (second only to Lenders) in the real property and related improvements that are being pledged to Lender by Gravxx Xxxk & Mfg. Co., Inc. The Subsidiary Loan Documents shall be collaterally assigned and endorsed, where appropriate, to Lenders to further secure Borrower's Obligations.
Loans to Subsidiaries. After the date hereof, the Company shall not, directly or indirectly, lend to or invest in any Subsidiary of the Company without causing such Subsidiary (i) to execute a guaranty in the amount of such funds received from the Company guaranteeing the principal and interest of the Notes with the Collateral Agent for the ratable benefit of the holders of the Company Notes and (ii) to grant to the Collateral Agent, for the ratable benefit of the holders of the Company Notes, a security interest in the amount of such funds received from the Company in all of such Subsidiary’s tangible and intangible assets.
