Common use of Transactions With Affiliates or Subsidiaries Clause in Contracts

Transactions With Affiliates or Subsidiaries. (a) Borrower shall not enter into any transaction with any Subsidiary or other Affiliate including, without limitation, the purchase, sale, lease or exchange of Property, or the loaning or giving of funds to any Affiliate or any Subsidiary, other than pursuant to the Financial Loan Documents, unless (i) such subsidiary or Affiliate is engaged in a business substantially related to the business conducted by Borrower and the transaction is in the ordinary course of and pursuant to the reasonable requirements of Borrower's business and upon terms substantially the same and no less favorable to Borrower as it would obtain in a comparable arm's-length transactions with any Person not an Affiliate or a Subsidiary, and (ii) so long as such transaction is not prohibited hereunder.

Appears in 1 contract

Samples: Master Loan and Security Agreement (T&w Financial Corp)

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Transactions With Affiliates or Subsidiaries. (a) No Borrower shall not enter into any transaction with any Subsidiary or other Affiliate (other than another Borrower) including, without limitation, the purchase, sale, lease or exchange of Property, or the loaning loaning, capitalization or giving of funds to any such Affiliate or any Subsidiary, other than pursuant to the Financial Loan Documents, unless (i) such subsidiary Subsidiary or Affiliate is engaged in a business substantially related to the business conducted by Borrower and such Borrower, (ii) the transaction is in the ordinary course of and pursuant to the reasonable requirements of such Borrower's ’s business and upon terms substantially the same and no less favorable to such Borrower as it would obtain in a comparable arm'sarm’s-length transactions with any Person not an Affiliate or a Subsidiary, subsidiary and (iiiii) so long as such transaction is not prohibited hereunder.

Appears in 1 contract

Samples: Loan and Security Agreement (New York Health Care Inc)

Transactions With Affiliates or Subsidiaries. (a) a. Borrower shall not enter into any transaction with any Subsidiary or other Affiliate Affiliate, including, without limitation, the purchase, sale, lease or exchange of Property, or the loaning or giving of funds to any Affiliate or any Subsidiary, other than pursuant to the Financial Loan Documents, unless Subsidiary unless: (i) such subsidiary Subsidiary or Affiliate is engaged in a business substantially related to the business conducted by Borrower, is a Borrower or Guarantor hereunder and the transaction is in the ordinary course of and pursuant to the reasonable requirements of Borrower's ’s business and upon terms substantially the same and no less favorable to Borrower as it would obtain in a comparable arm's-arm’s length transactions with any Person not an Affiliate or a Subsidiary, and (ii) so long as such transaction is not prohibited hereunder; or (ii) such transaction is intended for incidental administrative purposes.

Appears in 1 contract

Samples: Loan and Security Agreement ('Mktg, Inc.')

Transactions With Affiliates or Subsidiaries. (a) No Borrower shall not enter into any transaction with Surety, any Subsidiary or other Affiliate including, without limitation, the purchase, sale, lease or exchange of Property, or the loaning or giving of funds to any Affiliate or any Subsidiary, other than pursuant to the Financial Loan Documents, unless (i) Surety, such subsidiary Subsidiary or Affiliate Affiliate, as the case may be, is engaged in a business substantially related to the business conducted by Borrower Borrowers and the transaction is in the ordinary course of and pursuant to the reasonable requirements of Borrower's Borrowers' business and upon terms substantially the same and no less favorable to such Borrower as it would obtain in a comparable arm's-length transactions with any Person not an Affiliate or a Subsidiary, and (ii) so long as such transaction is not prohibited hereunder.

Appears in 1 contract

Samples: Loan and Security Agreement (Staff Builders Inc /De/)

Transactions With Affiliates or Subsidiaries. (a) No Borrower shall not enter into any transaction with any Subsidiary subsidiary or other Affiliate (other than another Borrower) including, without limitation, the purchase, sale, lease or exchange of Property, or the loaning loaning, capitalization or giving of funds to any such Affiliate or any Subsidiary, other than pursuant to the Financial Loan Documentssubsidiary, unless (i) such subsidiary or Affiliate is engaged in a business substantially related to the business conducted by such Borrower and (ii) the transaction is in the ordinary course of and pursuant to the reasonable requirements of such Borrower's business and upon terms substantially the same and no less favorable to such Borrower as it would obtain in a comparable arm's-length transactions with any Person not an Affiliate or a Subsidiary, subsidiary and (iiiii) so long as such transaction is not prohibited hereunder.

Appears in 1 contract

Samples: Loan and Security Agreement (Orion Healthcorp Inc)

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Transactions With Affiliates or Subsidiaries. (a) a. Borrower shall not enter into any transaction with any Subsidiary or other Affiliate Affiliate, including, without limitation, the purchase, sale, lease or exchange of Property, or the loaning or giving of funds to any Affiliate or any Subsidiary, other than pursuant to the Financial Loan Documents, unless Subsidiary unless: (i) such subsidiary Subsidiary or Affiliate is engaged in a business substantially related to the business conducted by Borrower and the transaction is in the ordinary course of and pursuant to the reasonable requirements of Borrower's business and (A) consistent with past practice between Borrower and such Subsidiary or Affiliate, or (B) upon terms substantially the same and no less favorable to Borrower as it would obtain in a comparable arm's-arm's length transactions with any Person not an Affiliate or a Subsidiary, and (ii) so long as such transaction is not prohibited hereunder; or (ii) such transaction is intended for administrative purposes.

Appears in 1 contract

Samples: Loan and Security Agreement (American Technical Ceramics Corp)

Transactions With Affiliates or Subsidiaries. (a) Borrower Borrowers shall not enter into any transaction with any Subsidiary or other Affiliate including, without limitation, the purchase, sale, lease or exchange of Property, or the loaning or giving of funds to any Affiliate or any Subsidiary, other than pursuant to the Financial Loan Documents, unless (i) except for those transactions described in Exhibit 7.4 hereto, such subsidiary Subsidiary or Affiliate is engaged in a business substantially related to the business conducted by Borrower Borrowers and the transaction is in the ordinary course of and pursuant to the reasonable requirements of Borrower's Borrowers' business and upon terms substantially the same and no less favorable to Borrower Borrowers as it would obtain in a comparable arm's-length transactions with any Person not an Affiliate or a Subsidiary, and (ii) so long as such transaction is not prohibited hereunder.

Appears in 1 contract

Samples: Loan and Security Agreement (Bankvest Capital Corp)

Transactions With Affiliates or Subsidiaries. (a) No Borrower shall not enter into any transaction with any Subsidiary subsidiary or other Affiliate (other than another Borrower) including, without limitation, the purchase, sale, lease or exchange of Property, or the loaning loaning, capitalization or giving of funds to any such Affiliate or any Subsidiary, other than pursuant to the Financial Loan Documentssubsidiary, unless (i) such subsidiary or Affiliate is engaged in a business substantially related to the business conducted by such Borrower and (ii) the transaction is in the ordinary course of and pursuant to the reasonable requirements of such Borrower's ’s business and upon terms substantially the same and no less favorable to such Borrower as it would obtain in a comparable arm'sarm’s-length transactions with any Person not an Affiliate or a Subsidiary, subsidiary and (iiiii) so long as such transaction is not prohibited hereunder.

Appears in 1 contract

Samples: Loan and Security Agreement (Healthessentials Solutions Inc)

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