Common use of No Affiliate Debt Clause in Contracts

No Affiliate Debt. The Lessee has not created, incurred, guaranteed, endorsed, assumed or suffered to exist any liability (whether direct or contingent) for borrowed money from the Guarantor (or any of its Affiliates) or any Affiliate of the Lessee that is not fully subordinated to the Lease Obligations pursuant to the Affiliated Party Subordination Agreement.

Appears in 9 contracts

Sources: Facility Lease Agreement (Carematrix Corp), Facility Lease Agreement (Carematrix Corp), Facility Lease Agreement (Carematrix Corp)

No Affiliate Debt. The Lessee has not created, incurred, guaranteed, endorsed, assumed or suffered to exist any liability (whether direct or contingent) for borrowed money from the Guarantor (or any of its Affiliates) or any Affiliate of the Lessee that is not fully subordinated to the Lease Obligations pursuant to the Affiliated Party Subordination Agreement or the Subordination and Standstill Agreement.

Appears in 1 contract

Sources: Facility Lease Agreement (Balanced Care Corp)