Other Debts. Not to have outstanding or incur any direct or contingent liabilities or lease obligations (other than those to the Bank or to any affiliate of the Bank), or become liable for the liabilities of others, without the Bank's written consent. This does not prohibit: (a) Acquiring goods, supplies, or merchandise on normal trade credit. (b) Liabilities, lines of credit and leases in existence on the date of this Agreement disclosed in writing to the Bank. (c) If the Borrower is a natural person, additional debts of the Borrower as an individual for consumer purposes.
Appears in 5 contracts
Sources: Loan Agreement (Lifeloc Technologies, Inc), Loan Agreement (Lifeloc Technologies, Inc), Loan Agreement (Tel Instrument Electronics Corp)
Other Debts. Not to have outstanding or incur any direct or contingent liabilities or lease obligations (other than those to the Bank or to any affiliate of the Bank), or become liable for the liabilities of others, without the Bank's ’s written consent. This does not prohibit:
(a) Acquiring goods, supplies, or merchandise on normal trade credit.
(b) Liabilities, lines of credit and leases in existence on the date of this Agreement disclosed in writing to the Bank.
(c) If the Borrower is a natural person, additional debts of the Borrower as an individual for consumer purposes.
Appears in 1 contract