Loans or credit. (a) Except as permitted under paragraph (b) below, no Obligor shall (and the Parent shall ensure that no member of the Group will) be a creditor in respect of any Financial Indebtedness.
(b) Paragraph (a) above does not apply to:
(i) a Permitted Loan; or
(ii) a Permitted Transaction.
Loans or credit. (a) No Obligor shall (and the Parent Guarantor shall ensure that no member of the Group will) be a creditor in respect of any Financial Indebtedness.
(b) Section 9.16(a) does not apply to a Permitted Loan.
Loans or credit. (a) Except as permitted under paragraph (b) below, Borrower shall not (and shall ensure that no other member of the Group will) be a creditor in respect of any Financial Indebtedness.
(b) Paragraph (a) above does not apply to:
(i) a loan made by a member of the Group while no Event of Default is continuing or would result from the making of such loan, which when aggregated with the principal amount of any other loans made under this paragraph does not in any Financial Year of Borrower, exceed $5,000,000 or its equivalent; or
(ii) a Permitted Loan or a Permitted Transaction.
Loans or credit. 22.16.1 Except as permitted under Clause 22.16.2 below, no Obligor shall (and the Borrower shall ensure that no member of the Group will) be a creditor in respect of any Financial Indebtedness.
Loans or credit. The Borrowers shall not be a creditor in respect of any Financial Indebtedness other than in the ordinary course of business.
Loans or credit. (a) Except as permitted under paragraph (b) below, no Obligor shall (and the Company shall ensure that no other member of the Group will) make any loans or grant any credit representing Financial Indebtedness.
(b) Paragraph (a) above does not apply to:
(i) any loan made or credit granted in the ordinary course of trading and on usual terms;
(ii) a loan by a member of the Group to another member of the Group to the extent that loan exists on the Closing Date;
(iii) a Joint Venture Investment by a member of the Group, to the extent permitted under Clause 25.8 (Joint Ventures);
(iv) a loan by a member of the Group to an employee or director of any member of the Group for any purpose (other than funding or refinancing any (direct or indirect) equity or other investment by such employee or director in the Company or any of its direct or indirect Holding Companies) if the outstanding amount of that loan when aggregated with the amount of all loans to employees and directors by members of the Group and the maximum actual and contingent liabilities under all guarantees or indemnities by members of the Group in respect of liabilities or obligations of employees or directors of members of the Group permitted under paragraph (b)(viii) of Clause 25.14 (No guarantees or indemnities) does not exceed €10,000,000 (or its equivalent in other currencies) plus the aggregate amount of such loans in existence as at the Closing Date outstanding at any time;
(v) a loan by an Obligor to an Obligor;
(vi) a loan by a member of the Group which is not an Obligor to a member of the Group;
(vii) a loan by an Obligor to a member of the Group which is not an Obligor provided that the amount of such loan when aggregated with:
(A) the amount of all other loans made pursuant to this paragraph (vii) and outstanding at such time;
(B) amounts payable by non-Obligors to Obligors as a result of the disposal of assets in accordance with paragraph (b)(ii)(B) of Clause 25.11 (Disposals) other than in the ordinary course of trading;
(C) all guarantees outstanding at such time pursuant to paragraph (b)(iv) of Clause 25.14 (No guarantees or indemnities); and
(D) the amount of all share issues by non-Obligors to Obligors referred to in paragraph (b) of Clause 25.15 (Share capital) which have been made since the date of this Agreement (net of all redemptions, repurchases, retirements, returns or repayments of share capital by non-Obligors in favour of Obligors which have been made since the date of this...
Loans or credit. (a) Except as permitted under paragraph (b) below, no Obligor shall (and the Company shall ensure that no other member of the Group will) be a creditor in respect of any Financial Indebtedness.
(b) Paragraph (a) above does not apply to any trade credit extended by any member of the Group to its customers on normal commercial terms and in the ordinary course of its trading activities.
Loans or credit. (a) No Borrower shall be a creditor in respect of any Financial Indebtedness.
(b) Paragraph (a) above does not apply to:
(i) normal trade credit extended to its customers on normal commercial terms and in the ordinary course of its trading activities;
(ii) any loan or other credit made to another member of the Group at a time when no Default is continuing or would occur from the making of such loan or other credit, and provided that the Parent Guarantor and the Borrowers will be in compliance with the financial covenants set out in Clause 21 (Financial covenants) following the making of such loan or other credit; or
(iii) any creditor relationship entered into with the consent of the Lenders.
Loans or credit. 22.16.1 Except as permitted under Clause 22.16.2, no Obligor shall be a creditor in respect of any Financial Indebtedness.
22.16.2 Clause 22.16.1 does not apply to a Permitted Loan.
Loans or credit. (a) Except as permitted under Section 4.07(b), the Parent shall not, and shall not permit any Restricted Subsidiary to, be a creditor in respect of any Financial Indebtedness.
(b) Section 4.07(a) shall not apply to a Permitted Loan.
