Common use of Transactions with Affiliates and Insiders Clause in Contracts

Transactions with Affiliates and Insiders. No Credit Party shall, nor shall it permit any of its Subsidiaries to, directly or indirectly, enter into or permit to exist any transaction (including the purchase, sale, lease or exchange of any property or the rendering of any service) with any officer, director or Affiliate of the Borrower or any its Subsidiaries on terms that are less favorable to the Borrower or such Subsidiary, as the case may be, than those that might be obtained at the time from a Person who is not an officer, director or Affiliate of the Borrower or any of its Subsidiaries; provided, the foregoing restriction shall not apply to (a) any transaction between or among the Credit Parties; (b) normal and reasonable compensation and reimbursement of expenses of directors in the ordinary course of business; (c) compensation and reimbursement of out-of-pocket expenses, employment and severance arrangements for officers and other employees entered into in the ordinary course of business; (d) equity issuances by the Parent not constituting a Change of Control; (e) payments by the Parent permitted by Section 8.4; and (e) the payment of customary indemnities to directors, officers and employees in the ordinary course of business.

Transactions with Affiliates and Insiders. No Credit Party shall, nor shall it permit any of its Subsidiaries to, directly or indirectly, enter into or permit to exist any transaction (including the purchase, sale, lease or exchange of any property or the rendering of any service) with any officer, director or Affiliate of the Borrower or any its Subsidiaries on terms that are less favorable to the Borrower or such Subsidiary, as the case may be, than those that might be obtained at the time from a Person who is not an officer, director or Affiliate of the Borrower or any of its Subsidiaries; provided, the foregoing restriction shall not apply to to: (a) any transaction between or among the Credit Parties; ; (b) normal compensation (including bonuses and reasonable compensation equity or other consideration) and employee benefit arrangements paid to, indemnities provided for the benefit of, and employment and severance arrangements entered into with, and reimbursement of expenses of officers and directors in and approved by the ordinary course Board of business; Directors of the Borrower; (c) compensation and reimbursement of out-of-pocket expenses, employment and severance arrangements for officers and other employees entered into in any Restricted Payment to the ordinary course of business; (d) equity issuances by the Parent not constituting a Change of Control; (e) payments by the Parent extent permitted by Section 8.4; and (d) any issuances of securities or other payments, awards or grants in cash, securities or otherwise pursuant to, or the funding of, employment agreements, employee stock options and (e) the payment of customary indemnities to directors, officers and employees in the ordinary course of businessemployee stock ownership plans.

Transactions with Affiliates and Insiders. No Credit Party Obligor shall, nor shall it permit any of its Subsidiaries to, directly or indirectly, enter into or permit to exist any transaction (including the purchase, sale, lease or exchange of any property or the rendering of any service) with any officer, director or Affiliate of the Borrower Issuer or any its Subsidiaries on terms that are less favorable to the Borrower Issuer or such Subsidiary, as the case may be, than those that might be obtained at the time from a Person who is not an officer, director or Affiliate of the Borrower Issuer or any of its Subsidiaries; provided, the foregoing restriction shall not apply to (a) any transaction between or among the Credit PartiesObligors; (b) normal and reasonable compensation and reimbursement of expenses of directors in the ordinary course of business; (c) compensation and reimbursement of out-of-pocket expenses, employment and severance arrangements for officers and other employees entered into in the ordinary course of business; (d) equity issuances by the Parent Guarantor not constituting a Change of Control; (e) payments by the Parent Guarantor permitted by Section 8.410.4; and (e) the payment of customary indemnities to directors, officers and employees in the ordinary course of business.

Transactions with Affiliates and Insiders. No Credit Party Obligor shall, nor shall it permit any of its Subsidiaries to, directly or indirectly, enter into or permit to exist any transaction (including the purchase, sale, lease or exchange of any property or the rendering of any service) with any officer, director or Affiliate of the Borrower Issuer or any its Subsidiaries on terms that are less favorable to the Borrower Issuer or such Subsidiary, as the case may be, than those that might be obtained at the time from a Person who is not an officer, director or Affiliate of the Borrower Issuer or any of its Subsidiaries; provided, the foregoing restriction shall not apply to (a) any transaction between or among the Credit PartiesObligors; (b) normal and reasonable compensation and reimbursement of expenses of directors in the ordinary course of business; (c) compensation and reimbursement of out-of-pocket expenses, employment and severance arrangements for officers and other employees entered into in the ordinary course of business; (d) equity issuances by the Parent Guarantor not constituting a Change of Control; (e) payments by the Parent Guarantor permitted by Section 8.410.4; and (ef) the payment of customary indemnities to directors, officers and employees in the ordinary course of business.