Unrelated Business Sample Clauses

Unrelated Business. Neither the Borrower nor any Guarantor may engage, directly or indirectly, in any activities except as described in §7.10. Without limiting the generality of the foregoing, the following activities shall not be directly engaged in or undertaken in whole or in part by Borrower or any Guarantor: (a) acquiring, owning, operating or managing rental housing or apartments; (b) acquiring, constructing, owning, operating or managing office, hotel, retail, industrial, mixed-use or other income-producing facilities or acquiring or holding any debt secured by the same, or (c) acquiring unimproved Land for any of the purposes described in clauses (a) or (b) of this sentence except with respect to Hearthside Homes Oxnard LLC’s ongoing development of its project near Oxnard, California as disclosed in Borrower’s financial statements. Notwithstanding the foregoing prohibitions, Borrower and each Guarantor may acquire and hold for resale Land that is intended for commercial development, mitigation or other similar purposes; provided that (i) such Land is adjacent to or within Land otherwise acquired by Borrower in compliance with this Agreement, (ii) such Land is not a substantial portion of the Land then acquired, and (iii) Borrower does not develop such Land, other than as developed in connection with any Project.
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Unrelated Business it shall not engage directly or indirectly in any business activity, or purchase or otherwise acquire any properties or assets, in each case unrelated to or unnecessary for the conduct of its present business in the ordinary course;
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Unrelated Business. Borrower shall not engage, and shall not permit Guarantor to engage, directly or indirectly, in any activities in the State of California except as described in Section 7.14. Notwithstanding the foregoing, the following activities shall not be engaged in or undertaken directly, indirectly, in whole or in part by Borrower: (a) acquiring, owning, operating or managing rental housing or apartments, other than the sale and lease back of model homes; (b) acquiring, constructing, owning, operating or managing office, hotel, retail, industrial, mixed-use or other income-producing facilities or acquiring or holding any debt secured by the same other than (i) limited commercial development which is incidental to the construction and development of Homes, and (ii) any commercial development specified in the Development Plan provided to and approved by Lender in connection with the admission of the applicable Project to the Borrowing Base pursuant to Section 4.1(b) hereof, (c) acquiring unimproved Land for any of the purposes described in clause (b) of this sentence, or (d) engaging in Projects located outside of the State of California.
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Unrelated Business. Borrower shall not engage, directly or indirectly, in any activities in the Permitted States except as described in Section 7.14. Notwithstanding the foregoing, the following activities shall not be engaged in or undertaken directly, indirectly, in whole or in part by Borrower: (a) acquiring, owning, operating or managing rental housing or apartments, other than the sale and lease back of model homes; (b) acquiring, constructing, owning, operating or managing office, hotel, retail, industrial, mixed-use or other income-producing facilities or acquiring or holding any debt secured by the same other than limited commercial development which is incidental to the construction and development of Homes, (c) acquiring unimproved Land for any of the purposes described in clause (b) of this sentence, provided Borrower may acquire some retail Land if it is part of a larger acquisition that includes for sale housing so long as Borrower will ultimately sell such retail Land to another developer or user, or (d) engaging in Projects located outside of the Permitted States.
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Unrelated Business. Engage directly or indirectly in any business activity or purchase or otherwise acquire any property in each case unrelated to or unnecessary for the conduct of its present businesses.
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Unrelated Business. 75 Section 8.13 Transactions with Affiliates and Officers..............75 Section 9 FINANCIAL COVENANTS OF THE BORROWERS AND THE GUARANTORS............76
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Unrelated Business. None of the Borrowers, the Guarantors or the Unrestricted Subsidiaries shall engage, directly or indirectly, in any activities in the State of California except as described in Section 7.14. Notwithstanding the foregoing, the following activities shall not be engaged in or undertaken directly, indirectly, in whole or in part by any Borrower, any Guarantor or any Unrestricted Subsidiary: (i) acquiring, owning, operating or managing rental housing or apartments; (ii) acquiring, constructing, owning, operating or managing office, hotel, retail, industrial, mixed-use or other income-producing facilities or acquiring or holding any debt secured by the same, (iii) acquiring unimproved Land for any of the purposes described in clause (ii) of this sentence, or (iv) engaging in Projects located outside of the State of California.
Sample 1
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Related to Unrelated Business

  • Restricted Business For all purposes under this Agreement, “Restricted Business” shall mean the design, development, marketing or sales of software, or any other process, system, product, or service marketed, sold or under development by the Company at the time Executive’s Employment with the Company ends.

  • Permitted Business The Facility Lessee shall not engage in any business or activities other than the lease, operation, maintenance and marketing and sale of the output, fuel or other products from, or relating or incidental to, the Facility leased by the Facility Lessee. Notwithstanding any of the foregoing the Facility Lessee may not change the nature of its business.

  • Permitted Businesses The business of the Company shall be:

  • Unrelated Business Taxable Income No Employee Plan (or trust or other funding vehicle pursuant thereto) is subject to any tax under Code Section 511.

  • Outside Businesses Subject to the provisions of Section 6.3, any Covered Person, the Sponsor, the Delaware Trustee and the Property Trustee may engage in or possess an interest in other business ventures of any nature or description, independently or with others, similar or dissimilar to the activities of the Trust, and the Trust and the Holders of Securities shall have no rights by virtue of this Trust Agreement in and to such independent ventures or the income or profits derived therefrom, and the pursuit of any such venture, even if competitive with the activities of the Trust, shall not be deemed wrongful or improper. No Covered Person, the Sponsor, the Delaware Trustee or the Property Trustee shall be obligated to present any particular investment or other opportunity to the Trust even if such opportunity is of a character that, if presented to the Trust, could be taken by the Trust, and any Covered Person, the Sponsor, the Delaware Trustee and the Property Trustee shall have the right to take for its own account (individually or as a partner or fiduciary) or to recommend to others any such particular investment or other opportunity. Any Covered Person, the Delaware Trustee and the Property Trustee may engage or be interested in any financial or other transaction with the Sponsor or any Affiliate of the Sponsor, or may act as depositary for, trustee or agent for, or act on any committee or body of holders of, securities or other obligations of the Sponsor or its Affiliates.

  • Competitive Business Activities The term "Competitive Business Activities" as used herein shall be deemed to mean the Business.

  • Separate Business CAC shall not: (i) fail to maintain separate books, financial statements, accounting records and other corporate documents from those of Funding; (ii) commingle any of its assets or the assets of any of its Affiliates with those of Funding (except to the extent that CAC acts as the Servicer of the Loans); (iii) pay from its own assets any obligation or indebtedness of any kind incurred by Funding (or the Trust); and (iv) directly, or through any of its Affiliates, borrow funds or accept credit or guaranties from Funding.

  • Business Landlord acknowledges that it is not the intent of this Section 30 to prohibit Tenant from using the Premises for the Permitted Use. Tenant may operate its business according to prudent industry practices so long as the use or presence of Hazardous Materials is strictly and properly monitored according to all then applicable Environmental Requirements. As a material inducement to Landlord to allow Tenant to use Hazardous Materials in connection with its business, Tenant agrees to deliver to Landlord prior to the Commencement Date a list identifying each type of Hazardous Materials to be brought upon, kept, used, stored, handled, treated, generated on, or released or disposed of from, the Premises and setting forth any and all governmental approvals or permits required in connection with the presence, use, storage, handling, treatment, generation, release or disposal of such Hazardous Materials on or from the Premises (“Hazardous Materials List”). Tenant shall deliver to Landlord an updated Hazardous Materials List at least once a year and shall also deliver an updated list before any new Hazardous Material is brought onto, kept, used, stored, handled, treated, generated on, or released or disposed of from, the Premises. Tenant shall deliver to Landlord true and correct copies of the following documents (the “Haz Mat Documents”) relating to the use, storage, handling, treatment, generation, release or disposal of Hazardous Materials prior to the Commencement Date, or if unavailable at that time, concurrent with the receipt from or submission to a Governmental Authority: permits; approvals; reports and correspondence; storage and management plans, notice of violations of any Legal Requirements; plans relating to the installation of any storage tanks to be installed in or under the Project (provided, said installation of tanks shall only be permitted after Landlord has given Tenant its written consent to do so, which consent may be withheld in Landlord’s sole and absolute discretion); all closure plans or any other documents required by any and all federal, state and local Governmental Authorities for any storage tanks installed in, on or under the Project for the closure of any such tanks; and a Surrender Plan (to the extent surrender in accordance with Section 28 cannot be accomplished in 3 months). Tenant is not required, however, to provide Landlord with any portion(s) of the Haz Mat Documents containing information of a proprietary nature which, in and of themselves, do not contain a reference to any Hazardous Materials or hazardous activities. It is not the intent of this Section to provide Landlord with information which could be detrimental to Tenant’s business should such information become possessed by Tenant’s competitors.

  • Business Activities The Company will not, and will not permit any of its Restricted Subsidiaries to, engage in any business other than Permitted Businesses, except to such extent as would not be material to the Company and its Restricted Subsidiaries taken as a whole.

  • Other Business Activities During the Term, Employee will not, without the prior written consent of the Company, directly or indirectly engage in any other business activities or pursuits whatsoever, except activities in connection with any charitable or civic activities, personal investments and serving as an executor, trustee or in other similar fiduciary capacity; provided, however, that such activities do not interfere with his performance of his responsibilities and obligations pursuant to this Agreement.

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