Common use of Transactions With Affiliates or Subsidiaries Clause in Contracts

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

Appears in 1 contract

Samples: Loan and Security Agreement (RCM Technologies Inc)

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Transactions With Affiliates or Subsidiaries. (a) The a. Borrower shall not enter into any transaction with any Affiliate Subsidiary or Subsidiary other Affiliate, including, without limitation, the purchase, sale, or exchange of Property, or the loaning or giving of funds to any Affiliate or any Subsidiary, unless Subsidiary unless: (i) such Subsidiary or Affiliate is engaged in a business substantially related to the business conducted by the Borrower, is a Borrower or Guarantor hereunder and the transaction is in the ordinary course of and pursuant to the reasonable requirements of the Borrower's ’s business and upon terms substantially the same and no less favorable to the Borrower as it would obtain in a comparable arm's-arm’s length transactions with any Person not an Affiliate or a Subsidiary, and so long as such transaction is not prohibited hereunder; or (ii) such transaction is not otherwise prohibited hereunderintended for incidental administrative purposes. (b) The b. Other than as provided in Section 7.2(ii), Borrower shall not create or acquire any Subsidiary, except as a result of a Permitted Acquisition.

Appears in 1 contract

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

Transactions With Affiliates or Subsidiaries. (a) The No Borrower shall not enter into any transaction with any Subsidiary or other Affiliate or Subsidiary including, without limitation, the purchase, sale, or exchange of Property, or the loaning or giving of funds to any Affiliate or any Subsidiary, Subsidiary unless (i) such Subsidiary or Affiliate is engaged in a business substantially related to the business conducted by the BorrowerBorrowers, is a Borrower hereunder and the transaction is in the ordinary course of and pursuant to the reasonable requirements of the such Borrower's business and upon terms substantially the same and no less favorable to the such Borrower as it would obtain in a comparable arm's-length transactions trans actions with any Person not an Affiliate or a Subsidiary, and so long as such transaction is not prohibited hereunder; or (ii) such transaction is not otherwise prohibited hereunderintended for incidental administrative purposes. (b) The No Borrower shall not create or acquire any Subsidiary, except as a result of a Permitted Acquisition.

Appears in 1 contract

Samples: Credit Agreement (Phoenix Md Realty LLC)

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

Appears in 1 contract

Samples: Loan and Security Agreement (Western Acquisition Ventures Corp.)

Transactions With Affiliates or Subsidiaries. (a) The a. Borrower shall not enter into any transaction with any Affiliate Subsidiary or Subsidiary other Affiliate, including, without limitation, the purchase, sale, or exchange of Property, or the loaning or giving of funds to any Affiliate or any Subsidiary, unless Subsidiary unless: (i) such Subsidiary or Affiliate is engaged in a business substantially related to the business conducted by the Borrower, is a “Guarantor” hereunder and the transaction is in the ordinary course of and pursuant to the reasonable requirements of the Borrower's ’s business and upon terms substantially the same and no less favorable to the Borrower as it would obtain in a comparable arm's-arm’s length transactions with any Person not an Affiliate or a Subsidiary, and so long as such transaction is not prohibited hereunder; or (ii) such transaction is not otherwise prohibited hereunderintended for incidental administrative purposes. (b) The b. Except in compliance with the requirements in this Agreement, Borrower shall not create or acquire any Subsidiary, except as a result of a Permitted Acquisition.

Appears in 1 contract

Samples: Loan Agreement (Lightpath Technologies Inc)

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

Appears in 1 contract

Samples: Loan and Security Agreement (Amerinac Holding Corp.)

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

Appears in 1 contract

Samples: Loan and Security Agreement (Amerinac Holding Corp.)

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