Payments to and Transactions with Affiliates. (a) Make any loan, advance, extension of credit or payment to any Affiliate, officer, employee, member, manager, shareholder or director of any Borrower or any Affiliate or (b) enter into any other transaction, including, without limitation, the purchase, sale, lease or exchange of property, or the rendering or any service, to or with any Affiliate or any officer, or employee of any Borrower or any Affiliate except for other transactions with or services rendered to any Affiliate of a Borrower in the ordinary course of business and pursuant to the reasonable requirements of the business of such Affiliate and upon terms found by the board of directors of a Borrower to be fair and reasonable and no less favorable to a Borrower than would be able to obtain in a comparable arms’ length transaction with a Person not affiliated with or employed by a Borrower; provided, however, that Borrowers may in any event pay reasonable compensation to any such employee or officer in the ordinary course of Borrowers’ business consistent and commensurate with industry custom and practice for the services provided by such Person.
Payments to and Transactions with Affiliates. (a) Make any loan, advance, extension of credit or payment to any Affiliate, officer, employee, member or manager of Borrower or any Affiliate or (b) enter into any other transaction, including, without limitation, the purchase, sale, lease or exchange of property, or the rendering or any service, to or with any Affiliate or any member, officer, or employee of Borrower or any Affiliate except for other transactions with or services rendered to any Affiliate of the Borrower in the ordinary course of business and pursuant to the reasonable requirements of the business of such Affiliate and upon terms found by the managers of the Borrower to be fair and reasonable and no Less favorable to the Borrower than would obtain in a comparable arms' length transaction with a person or entity not affiliated with or employed by the Borrower; provided, however, that Borrower may in any event pay reasonable compensation and reimbursement of expenses to any such employee or officer in the ordinary course of Borrower's business consistent and commensurate with industry custom and practice for the services provided by such person.
Payments to and Transactions with Affiliates. Section 7.1 of the Loan Agreement is amended and restated as follows:
Payments to and Transactions with Affiliates. (a) Make any loan, advance, extension of credit or payment to any Affiliate, officer, employee, member, manager, shareholder or director of any Borrower or any Affiliate outside the ordinary course of business, except as described in Schedule 4.12 attached hereto and made part hereof and the payment of insurance premiums for a split dollar insurance policy for Xxxxx Xxxxxxx, or (b) enter into any other transaction, including, without limitation, the purchase, sale, lease or exchange of property, or the rendering or any service, to or with any Affiliate or any shareholder, officer, or employee of any Borrower or any Affiliate, and except for other transactions with or services rendered to any Affiliate of a Borrower in the ordinary course of business and pursuant to the reasonable requirements of the business of such Affiliate and upon terms found by the board of directors of a Borrower to be fair and reasonable and no less favorable to a Borrower than such Borrower would obtain in a comparable arms’ length transaction with a Person not affiliated with or employed by a Borrower; provided, however, that Borrowers may in any event pay reasonable compensation to any such employee or officer in the ordinary course of Borrowers’ business consistent and commensurate with industry custom and practice for the services provided by such Person.
Payments to and Transactions with Affiliates. (a) Make any loan, advance, extension of credit or payment to any Affiliate except for loans, advances, extensions of credit made by Borrowers in the ordinary course of business to Persons described in clause (iv) of the definition of Affiliate or (b) enter into any other transaction, including, without limitation, the purchase, sale, lease or exchange of property, or the rendering or any service, to or with any Affiliate or any equity holder, officer, or employee of any Borrower except for (v) transactions between Borrowers in the ordinary course of business and pursuant to the reasonable requirements of the business of such Borrowers and upon terms found by the board of directors of such Borrowers to be fair and reasonable and no less favorable to such Borrowers than such Borrowers would obtain in a comparable arms' length transaction, (w) payments by CAR Borrowers to Atlanticus for documented allocated overhead costs in the ordinary course of business and in accordance with historic practice in amount not to exceed Twenty Five Thousand Dollars ($25,000) per calendar month, (x) payments by Fortiva Borrowers to Atlanticus for documented allocated overhead costs in the ordinary course of business and in accordance with historic practice in amount not to exceed Twenty Five Thousand Dollars ($25,000 per calendar month, (y) Permitted Tax Distributions permitted pursuant to Section 7.2 of this Agreement and (z) other transactions with or services rendered to any Affiliate of a Borrower in the ordinary course of business and pursuant to the reasonable requirements of the business of such Affiliate and upon terms found by the board of directors of a Borrower to be fair and reasonable and no less favorable to a Borrower than such Borrower would obtain in a comparable arms' length transaction with a Person not affiliated with or employed by a Borrower; provided, however, that Borrowers may in any event pay reasonable compensation to any such employee or officer in the ordinary course of Borrowers' business consistent and commensurate with industry custom and practice for the services provided by such Person.
Payments to and Transactions with Affiliates. With respect to the Credit Parties (a) make any loan, advance, extension of credit or payment to any Affiliate, officer, employee, member, manager, equity holder or director of any Borrower, any such Guarantor or any of their respective Affiliates or (b) enter into any other transaction, including, without limitation, the purchase, sale, lease or exchange of property, or the rendering or any service, to or with any Affiliate or any equity holder, officer, or employee of any Borrower, any such Guarantor or any of their respective Affiliates except for transactions with or services rendered to any Affiliate of a Borrower or any such Guarantor in the ordinary course of business and pursuant to the reasonable requirements of the business of such Affiliate and upon terms no less favorable to a Borrower or any such Guarantor than such Borrower or such Guarantor would obtain in a comparable arms’ length transaction with a Person not affiliated with a Borrower or any such Guarantor; provided, however, that Borrowers and such Guarantors may in any event, (a) pay a servicing fee to Servicer pursuant to the terms of this Agreement and the Servicing Agreement and (b) enter into the transactions permitted under Sections 7.2, 7.6 and 7.7.
Payments to and Transactions with Affiliates. (a) Make any loan, advance, extension of credit or payment to any Affiliate, officer, employee, member, manager, shareholder or director of any Borrower or any Affiliate or (b) enter into any other transaction, including, without limitation, the purchase, sale, lease or exchange of property, or the rendering or any service, to or with any Affiliate or any shareholder, officer, or employee of any Borrower or any Affiliate except for other transactions with or services rendered to any Affiliate of a Borrower in the ordinary course of business and pursuant to the reasonable requirements of the business of such Affiliate and upon terms found by the board of directors of a Borrower to be fair and reasonable and no less favorable to a Borrower than would obtain in a comparable arms’ length transaction with a Person not affiliated with or employed by a Borrower; provided, however, that Borrowers may in any event pay reasonable compensation to any such employee or officer in the ordinary course of Borrowers’ business consistent and commensurate with industry custom and practice for the services provided by such Person. For the avoidance of doubt, this Section 7.1 does not restrict in any way payment to, or transactions with, DSC or between Borrowers.
Payments to and Transactions with Affiliates. (a) Make any loan, advance, extension of credit or payment to any Affiliate, officer, employee, member, manager, partner or director of Borrower or any Affiliate, which in the aggregate exceed $10,000 or (b) enter into any other transaction, including, without limitation, the purchase, sale, lease or exchange of property, or the rendering or any service, to or with any Affiliate or any partner, officer, or employee of Borrower or any Affiliate, except for other transactions with or services rendered to any Affiliate of Borrower in the ordinary course of business and pursuant to the reasonable requirements of the business of such Affiliate and upon terms found by the board of directors of Borrower to be fair and reasonable and no less favorable to Borrower than would obtain in a comparable arms’ length transaction with a person or entity not affiliated with or employed by Borrower (including, without limitation, the transactions contemplated by Borrower’s agreement with SSB pursuant to which SSB provides funding for Borrower’s acquisition of Receivables other than the Collateral); provided, however, that Borrower may in any event pay reasonable compensation to any such employee or officer in the ordinary course of Borrower’s business consistent and commensurate with Borrower’s past practices, and provided further that Borrower may obtain and repay short term loans from SSB, SWS Group or Southwest Securities Incorporated for so long as no Event of Default exists hereunder or is caused by any such loans or repayments.
Payments to and Transactions with Affiliates. Unless otherwise agreed to by Xxxxxx, in its sole discretion, in writing: (a) Make any loan, advance, extension of credit or payment to any Affiliate, officer, employee, member, manager, equity interest holder or director of any Borrower or any Affiliate or (b) enter into any other transaction, including, without limitation, the purchase, sale, lease or exchange of property, or the rendering or any service, to or with any Affiliate or any equity interest holder, officer, or employee of the Borrower or any Affiliate except for other transactions with or services rendered to any Affiliate of the Borrower in the ordinary course of business and pursuant to the reasonable requirements of the business of such Affiliate and upon terms found by the board of directors and/or managers of the Borrower to be fair and reasonable and no less favorable to a Borrower than such Borrower would obtain in a comparable arms’ length transaction with a Person not affiliated with or employed by the Borrower; provided, however, that Borrowers may in any event pay reasonable compensation to any such employee or officer in the ordinary course of Borrowers’ business consistent and commensurate with industry custom and practice for the services provided by such Person. Notwithstanding anything contained herein to the contrary, in no event shall Borrower be restricted from making investments in and loans to any Affiliate so long as Borrower would remain in compliance with the financial covenants contained in Section 8.14 after giving effect thereto.
Payments to and Transactions with Affiliates. Make any loan, advance, extension of credit or payment to any Affiliate, officer, employee, member, manager, shareholder or director of any Borrower or any Affiliate or enter into any other transaction, including, without limitation, the purchase, sale, lease or exchange of property, or the rendering of any service, to or with any Affiliate or any shareholder, officer, or employee of any Borrower or any Affiliate except for transactions with or services rendered to any Affiliate of a Borrower in the ordinary course of business upon terms not materially less favorable to a Borrower than such Borrower would obtain in a comparable arms’ length transaction with a Person not affiliated with or employed by a Borrower; provided, however, that Borrowers may in any event (i) pay reasonable compensation (including salary and bonuses) to any employee or officer in the ordinary course of Borrowers’ business; (ii) pay reasonable directors fees to directors and reimburse directors for out of pocket expenses (including mileage) associated with attending meetings; (iii) pay reasonable compensation to the Xxxxxx Group for its services in an aggregate amount not to exceed $1,000,000 in any calendar year; (iv) make loans and advances to and make investments in other Borrowers; (v) take the appropriate actions to distribute funds pursuant to the Reorganization Plan not prohibited by this Agreement; (vi) make loans to employees in the ordinary course consistent with past practice; and (vii) take any other actions otherwise permitted by this Agreement.
