Common use of No Additional Debt Clause in Contracts

No Additional Debt. Except for the Loan, no Borrower shall incur any indebtedness (whether personal or nonrecourse, secured or unsecured) other than customary trade payables paid within sixty (60) days after they are incurred and equipment lease financing in the ordinary course of business; provided, however, Borrowers shall be permitted to enter into recourse debt with the consent of Lender, which consent shall not be unreasonably withheld by Lender.

Appears in 2 contracts

Samples: Secured Loan Agreement, Secured Loan Agreement (CNL Healthcare Trust, Inc.)

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No Additional Debt. Except for the Loan, no Borrower shall incur any indebtedness (whether personal or nonrecourse, secured or unsecured) other than customary trade payables paid within sixty (60) days after they are incurred and equipment lease financing in the ordinary course of business; provided, however, Borrowers shall be permitted to enter into recourse debt with the consent of LenderAgent, which consent shall not be unreasonably withheld by LenderAgent.

Appears in 2 contracts

Samples: Secured Loan Agreement, Secured Loan Agreement (CNL Healthcare Properties, Inc.)

No Additional Debt. Except for the Loan, no Borrower shall incur any indebtedness (whether personal or nonrecourse, secured or unsecured) other than customary trade payables paid within sixty (60) days after they are incurred and equipment lease financing in the ordinary course of business; provided, however, that after the Performance Date, Borrowers shall be permitted to enter into recourse debt with the consent of Lender, which consent shall not be unreasonably withheld by Lender.

Appears in 1 contract

Samples: Secured Loan Agreement (CNL Healthcare Trust, Inc.)

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No Additional Debt. Except for the Loan, no Borrower shall incur any indebtedness (whether personal or nonrecourse, secured or unsecured) other than customary trade payables paid within sixty (60) days after they are incurred and equipment lease financing in the ordinary course of business; provided, however, that Borrowers shall be permitted to enter into recourse debt with the consent of Lender, which consent shall not be unreasonably withheld by Lender.

Appears in 1 contract

Samples: Secured Loan Agreement (CNL Healthcare Trust, Inc.)

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