Common use of Transactions with Affiliate Clause in Contracts

Transactions with Affiliate. Borrower shall not enter into, or be a party to, any transaction with any Affiliate, or stockholder of Borrower, except, consistent with Borrower's practice before entering into this Agreement, in the ordinary course of, and pursuant to the reasonable requirements of, Borrower's business and upon fair and reasonable terms which are fully disclosed to Lender and are no less favorable to Lender than would obtain in a comparable arm's length transaction with a Person not an Affiliate or stockholder of Borrower.

Appears in 3 contracts

Samples: Motor Vehicle Installment Contract Loan and Security Agreement (TFC Enterprises Inc), Motor Vehicle Installment Contract Loan and Security Agreement (Ugly Duckling Corp), Contract Loan and Security Agreement (Consumer Portfolio Services Inc)

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Transactions with Affiliate. Borrower shall not enter into, or be a party to, any transaction with any Affiliate, or stockholder of Borrower, except, consistent with Borrower's practice before entering into this Agreement, in the ordinary course of, and pursuant to the reasonable requirements of, Borrower's business and upon fair and reasonable terms which are fully disclosed to Lender and are no less favorable to Lender than would obtain in a comparable arm's length transaction with a Person not an Affiliate or stockholder of Borrower. Section 14.6.

Appears in 1 contract

Samples: Loan and Security Agreement (TFC Enterprises Inc)

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