Common use of Other Debts Clause in Contracts

Other Debts. Not to have outstanding or incur any direct or contingent debts (other than those to the Bank), become liable for the debts of others, or sell or discount (except for compromises extended in the ordinary course of business) any of its accounts receivable without the Bank's written consent. This does not prohibit: (a) Acquiring goods, supplies, or merchandise on normal trade credit. (b) Endorsing negotiable instruments received in the usual course of business. (c) Obtaining surety bonds in the usual course of business.

Appears in 1 contract

Sources: Business Loan Agreement (Ba Merchant Services Inc)

Other Debts. Not to have outstanding or incur any direct or contingent debts (other than those to the Bank), or become liable for the debts of others, or sell or discount (except for compromises extended in the ordinary course of business) any of its accounts receivable others without the Bank's written consent. This does not prohibit: (a) Acquiring goods, supplies, or merchandise on normal trade credit. (b) Endorsing negotiable instruments received in the usual course of business. (c) Obtaining surety bonds in the usual course of business. (d) Debts and lines of credit in existence on the date of this Agreement disclosed in writing to the Bank.

Appears in 1 contract

Sources: Business Loan Agreement (Channell Commercial Corp)

Other Debts. Not to have outstanding or incur any direct or contingent debts liabilities (other than those to the Bank), or become liable for the debts liabilities of others, or sell or discount (except for compromises extended in the ordinary course of business) any of its accounts receivable others without the Bank's written consent. This does not prohibit: (a) Acquiring goods, supplies, or merchandise on normal trade credit. (b) Endorsing negotiable instruments received in the usual course of business. (c) Obtaining surety bonds in the usual course of business. (d) Indebtedness assumed in connection with transactions permitted in Paragraph 6.17(g) below.

Appears in 1 contract

Sources: Business Loan Agreement (Variflex Inc)

Other Debts. Not to have outstanding or incur any direct or contingent debts liabilities (other than those to the Bank), or become liable for the debts liabilities of others, or sell or discount (except for compromises extended in the ordinary course of business) any of its accounts receivable without the Bank's written consent. This does not prohibit: (a) Acquiring goods, supplies, or merchandise on normal trade credit. (b) Endorsing negotiable instruments received in the usual course of business. (c) Obtaining surety bonds in the usual course of business. (d) Liabilities in existence on the date of this Agreement disclosed in writing to the Bank.

Appears in 1 contract

Sources: Business Loan Agreement (Calavo Growers Inc)

Other Debts. Not to have outstanding or incur any direct or contingent debts (other than those to the Bank), or become liable for the debts of others, or sell or discount (except for compromises extended in the ordinary course of business) any of its accounts receivable others without the Bank's written consent. This does not prohibit: (a) Acquiring goods, supplies, or merchandise on normal trade credit. (b) Endorsing negotiable instruments received in the usual course of business. (c) Obtaining surety bonds in the usual course of business. (d) Indebtedness assumed in connection with transactions permitted in Paragraph 6.16(e) below.

Appears in 1 contract

Sources: Business Loan Agreement (Variflex Inc)

Other Debts. Not to have outstanding or incur inccur any direct or contingent debts (other than those to the Bank), or become liable for the debts of others, or sell or discount (except for compromises extended in the ordinary course of business) any of its accounts receivable without the Bank's written consent. This does not prohibit: (a) Acquiring goods, supplies, or merchandise on normal trade credit. (b) Endorsing negotiable instruments received in the usual course of business. (cb) Obtaining surety bonds Debits and lines of credit in existence on the usual course date of businessthis Agreement disclosed to the Bank.

Appears in 1 contract

Sources: Individual Loan Agreement (Sugarman Burt)

Other Debts. Not to have outstanding or incur any direct or contingent debts (other [or lease obligations](other than those to the Bank), or become liable for the debts of others, or sell or discount (except for compromises extended in the ordinary course of business) any of its accounts receivable others without the Bank's written consent. This does not prohibit: (a) Acquiring goods, supplies, supplies or merchandise on normal trade credit. (b) Endorsing negotiable instruments received in the usual course of business. (c) Obtaining surety bonds in the usual course of business. (d) Debts in existence on the date of this Agreement disclosed in writing to Bank.

Appears in 1 contract

Sources: Business Loan Agreement (Mobility Electronics Inc)

Other Debts. Not to have outstanding or incur any direct or contingent debts (other than those to the BankBank and its affiliates), or become liable for the debts of others, or sell or discount (except for compromises extended in the ordinary course of business) any of its accounts receivable others without the Bank's written consent. This does not prohibit: (a) Acquiring goods, supplies, or merchandise on normal trade credit. (b) Endorsing negotiable instruments received in the usual course of business. (c) Obtaining surety bonds in the usual course of business. (d) Debts and lines of credit and capital leases in existence on the date of this Agreement disclosed in writing to the Bank.

Appears in 1 contract

Sources: Business Loan Agreement (Wholesome & Hearty Foods Inc)

Other Debts. Not to have outstanding or incur any direct or contingent debts or lease obligations (other than those to the Bank), or become liable for the debts of others, or sell or discount (except for compromises extended in the ordinary course of business) any of its accounts receivable others without the Bank's written consent. This does not prohibit: (a) Acquiring goods, supplies, or merchandise on normal trade credit. (b) Endorsing negotiable instruments received in the usual course of business. (c) Obtaining surety bonds in the usual course of business. (d) Additional lease obligations for the acquisition of fixed or capital assets, to the extent permitted elsewhere in this Agreement.

Appears in 1 contract

Sources: Business Loan Agreement (Il Fornaio America Corp)