Restricted Investments. Make any Restricted Investment.
Restricted Investments. Other than in the ordinary course of business (i) make or permit to exist any loans or advances to, or any other investment in, any Person except for investments in Permitted Investments, or (ii) acquire any assets or property of any other Person.
Restricted Investments. Make any Investment, except:
(a) (i) equity Investments in Foreign Subsidiaries to the minimum extent required to comply with the local minimum capitalization requirements of foreign jurisdictions and (ii) conversions of Intercompany Debt between any Loan Party and Foreign Subsidiary into equity not to exceed, when taken together with all Investments outstanding pursuant to Section 7.04(b)(iii), an aggregate amount equal to the greater of (x) $50,000,000 and (y) 10% of Consolidated Total Assets;
(i) equity investments owned as of the Closing Date in any Subsidiary, (ii) Investments made after the Closing Date by a Loan Party in any other Loan Party, (iii) Investments made by any Loan Party in any Non-Guarantor Subsidiary not to exceed (at the time such Investment is made), when taken together with all conversions of Intercompany Debt made pursuant to Section 7.04(a)(ii), an aggregate amount equal to the greater of (x) $50,000,000 and (y) 10% of Consolidated Total Assets and (iv) Investments from a Non-Guarantor Subsidiary into another Non-Guarantor Subsidiary;
(c) Investments (i) in any Equity Interests or other securities received in satisfaction or partial satisfaction thereof from financially troubled account debtors (whether in connection with a foreclosure, bankruptcy, workout, judgment or otherwise) and (ii) deposits, prepayments and other credits to suppliers made in the Ordinary Course of Business;
(d) Consolidated Capital Expenditures;
(e) loans and advances to employees, officers and directors of the Borrower and its Subsidiaries made in the Ordinary Course of Business and to the extent permitted by the Xxxxxxxx-Xxxxx Act of 2002, in an aggregate principal amount at any time outstanding not to exceed $10,000,000 in the aggregate;
(f) Intercompany Debt permitted by Section 7.01;
(g) Investments described in Schedule 7.04 to the Disclosure Letter;
(h) the Borrower and its Subsidiaries may enter into and perform their respective obligations under (i) Hedging Agreements permitted hereunder and entered into in the Ordinary Course of Business and (ii) Permitted Call Spread Swap Agreements;
(i) Investments consisting of extensions of credit in the nature of accounts receivable, prepaid royalties or expenses or notes receivable arising from the sale or lease of goods or services in the Ordinary Course of Business, or lease, utility, workers compensation, performance or similar deposits arising in the Ordinary Course of Business, and Investments received ...
Restricted Investments. Borrower will not, and it will not cause or permit any of its Subsidiaries to, directly or indirectly, make any Restricted Investments.
Restricted Investments. Neither the Borrower nor any of its Subsidiaries shall make any Restricted Investment.
Restricted Investments. The Borrower will not, and will not permit or cause any of its Subsidiaries to, directly or indirectly, without the consent of the Required Lenders, purchase, own, invest in or otherwise acquire any Capital Stock, evidence of indebtedness or other obligation or security or any interest whatsoever in any other Person, or make or permit to exist any loans, advances or extensions of credit to, or any investment in cash or by delivery of property in, any other Person, or purchase or otherwise acquire (whether in one or a series of related transactions) any portion of the assets, business or properties of another Person (including pursuant to an Acquisition), or create or acquire any Subsidiary, or become a partner or joint venturer in any partnership or joint venture (collectively, “Investments”), or make a commitment or otherwise agree to do any of the foregoing, other than:
(i) Investments consisting of Cash Equivalents;
(ii) Investments consisting of the extension of trade credit, the creation of prepaid expenses, the purchase of inventory, supplies, equipment and other assets, and advances to employees, in each case by the Borrower and its Subsidiaries in the ordinary course of business;
(iii) Investments (including equity securities and debt obligations) of the Borrower and its Subsidiaries received in connection with the bankruptcy or reorganization of suppliers and customers and in good faith settlement of delinquent obligations of, and other disputes with, customers and suppliers arising in the ordinary course of business;
(iv) without duplication, Investments consisting of intercompany Indebtedness permitted under Section 8.2(vii);
(v) Investments of the Borrower under Hedge Agreements entered into in connection with this Agreement or in the ordinary course of business to manage existing or anticipated interest rate or foreign currency risks and not for speculative purposes;
(vi) Investments in Subsidiaries organized under the laws of one of the United States, provided the Borrower and its Subsidiaries, as applicable, comply with the applicable terms of Section 6.10;
(vii) Investments of the Borrower and its Subsidiaries in Foreign Subsidiaries organized under the laws of Canada made prior to the Closing Date
(viii) Investments in connection with the creation (but not acquisition) of new Foreign Subsidiaries organized under the laws of Canada or new Investments in such Subsidiaries existing as of the Closing Date, provided that in no event shall such ...
Restricted Investments. The Company will not, and will not permit any Restricted Subsidiary to, make any Restricted Investment.
Restricted Investments. The Company will not, and will not permit any of its Subsidiaries to, purchase, hold or acquire (including pursuant to any merger with any Person that was not a Wholly Owned Subsidiary prior to such merger), any common stock, evidence of Indebtedness or other securities (including any option, warrant, or other right to acquire any of the foregoing) of, make or permit to exist any loans or advances to, any obligations of, or make or permit to exist any investment or any other interest in, any other Person (all of the foregoing being collectively called “Investments”), or purchase or otherwise acquire (in one transaction or a series of transactions) any assets of any other Person that constitute a business unit, or create or form any Subsidiary, except:
(a) Permitted Investments;
(b) Permitted Acquisitions;
(c) Investments made by any Obligor in any other Obligor;
(d) loans in the ordinary course of business to officers, stockholders and directors provided that the aggregate amount of all such loans does not exceed $1,000,000 at any time;
(e) (i) loans to franchise operators and owners of franchises acquired or funded pursuant to the SunTrust Loan Facility Agreement and (ii) other adequately secured and properly monitored loans to franchise operators and owners of franchises in an aggregate principal amount outstanding, together with loans outstanding under clause (i) of this paragraph 6I(e), not to exceed $90,000,000 at any time, provided that if the commitments under the SunTrust Loan Facility Agreement are increased, such aggregate limitation shall be increased in a like amount, but shall not exceed, in any event, $130,000,000;
(f) loans by the Company to Foreign Subsidiaries, provided that the amount of such loans together with the aggregate principal amount of Guarantees permitted pursuant to paragraph 6E(h) hereof does not exceed $10,000,000 in the aggregate at any time;
(g) Investments (other than Permitted Investments) existing on the date hereof and set forth on Schedule 6I (including Investments in Subsidiaries); and
(h) Other Investments not to exceed $2,500,000 in the aggregate at any time.
Restricted Investments. (a) Subject to clause (b) below, the Company shall not, and shall not permit its Subsidiaries to, make or hold any Investments in, or otherwise own, the following items which would cause the aggregate value of such holdings of such Persons to exceed the following percentages of the Company’s Total Asset Value at any time:
(i) First Mortgage Receivables and Mezzanine Debt Investments (excluding First Mortgage Receivables and Mezzanine Debt Investments made to consolidated Subsidiaries), such that the aggregate book value of Indebtedness secured by such First Mortgage Receivables and Mezzanine Debt Investments exceeds ten percent (10%) of the Company’s Total Asset Value;
(ii) the aggregate amount of the Total Budgeted Costs for Development Properties, in which the Company either has a direct or indirect ownership interest shall not exceed twenty percent (20%) of the Company’s Total Asset Value. If a Development Property is owned by an Unconsolidated Affiliate of the Company or any Subsidiary, the product of (A) the Company’s or such Subsidiary’s Ownership Share in such Unconsolidated Affiliate, and (B) the amount of the Total Budgeted Costs for such Development Property shall be used in calculating such investment limitation; provided further that, in addition to the foregoing limitations, the Company shall not permit the sum of the following to exceed thirty-five percent (35%) of the Company’s Total Asset Value: (1) the aggregate value of the items subject to the limitations in the preceding clauses (i) and (ii); plus (2) the aggregate value of all Unimproved Land; plus (3) the aggregate value of Equity Interests in Unconsolidated Affiliates (which “value” of any such Equity Interests in an Unconsolidated Affiliate shall equal (A) with respect to any of such Unconsolidated Affiliate’s Construction-in-Process, the Company’s Ownership Share of such Construction-in-Process as of the date of determination, and (B) with respect to any of such Unconsolidated Affiliate’s Properties which have been completed, the Company’s Ownership Share of the Total Asset Value for each Property of such Unconsolidated Affiliate); plus (4) the aggregate book value of common stock, Preferred Stock, other capital stock, beneficial interest in trust, membership interest in limited liability companies and other Equity Interests in Persons (other than consolidated Subsidiaries and Unconsolidated Affiliates), calculated on the lower of cost or market.
(b) If at any time each Material Cr...
Restricted Investments. The Borrower will not, nor will it permit any consolidated Subsidiary to, make any Restricted Investment except Restricted Investments made by the Borrower or a consolidated Subsidiary so long as, after giving effect to any such Restricted Investment (i) the aggregate amount of all such Restricted Investments existing on the date of such proposed action shall not exceed (x) $750,000,000 plus (y) 75% (or in the case of a deficit, minus 100%) of the Consolidated Net Income for the period commencing on June 1, 2001 and ending on and including the date of any such proposed action (the "COMPUTATION PERIOD") plus (z) the aggregate amount of the net cash proceeds received by the Borrower during the Computation Period from the sale of its stock and Indebtedness of the Borrower convertible into stock of the Borrower (but only to the extent that any such Indebtedness has been converted into shares of such stock during such period), and (ii) there shall exist no Default or Event of Default.
