Common use of Permitted Loans Clause in Contracts

Permitted Loans. amend Clause 16.14 (Loans and Guarantees): (a) to include a limb for counter guarantees in relation to any rental guarantees; (b) to include any credit given by a member of the Borrower Group to another member of the Borrower Group which arises by reason of a cash pooling, set off or other cash management arrangements of the Borrower Group or by reason of other credits relating to services performed or allocation of expenses; (c) to include a limb for loans to employees in the ordinary course of employment or to fund exercise of share options or purchase of capital stock of up to €10,000,000 in aggregate; (d) to include a loan made by a member of the Borrower Group pursuant to either an asset passthrough or a funding passthrough; (e) to include a limb to include loans made by a member of the Borrower Group to a member of the Wider Group where the proceeds of the loan are to be used to make payments or for guarantees in relation to any senior unsecured notes (as such term is defined in the recent Liberty precedent) or to make Permitted Payments, provided that no Event of Default has occurred and is continuing or to fund any Permitted Payments following the occurrence of an Event of Default which are not prohibited under the terms of the Intercreditor Agreement as amended from time to time; (f) to include loans granted by any member of the Borrower Group to a member of the Wider Group where the indebtedness outstanding relates to intra-group services in the ordinary course of business; (g) to provide for the granting of customary title guarantees given in connection with the assignment of leases which are permitted under Clause 16.10 (Disposals); (h) to include any loans arising from Subscribers (as defined in recent Liberty precedent) resulting from deferred purchase terms; (i) to include loans made which are Permitted Financial Indebtedness or are in connection with Permitted Acquisitions; (j) to replace the reference to €100,000,000 in paragraph (f) with €300,000,000 to increase the basket for lending transactions in connection with permitted acquisitions; (k) to permit customary liquidity loans in connection with a permitted asset securitisation program or receivables factoring transaction; and (l) to provide for the Borrower to be able to make loans and guarantees under a general basket of up to an aggregate of the greater of €100,000,000 and 2% of total assets.