Permitted Intercompany Loans definition

Permitted Intercompany Loans means (i) the Hybrid Loans, (ii) a downstream intercompany loan among the Borrower and the Japanese Guarantors which satisfies the Subordination Requirements, (iii) an upstream or sidestream intercompany loan among the Borrower and the Japanese Guarantors, (iv) an intercompany loan extended by a US Guarantor to the Borrower or a Japan Guarantor which satisfies the Subordination Requirement, (v) the Closing Date Intercompany Loans and (vi) an intercompany loan extended by a US Guarantor to another US Guarantor.

Permitted Intercompany Loans means (a) intercompany loans by a U.S. Obligor to another U.S. Obligor, (b) intercompany loans by a Canadian Obligor to another Canadian Obligor, (c) intercompany loans by a U.S. Obligor to a Canadian Obligor in an amount not to exceed $500,000 at any time and so long as immediately before and after giving effect to such loans by a U.S. Obligor to a Canadian Obligor, and no Default or Event of Default exists, and (d) intercompany loans by a Canadian Obligor to a U.S. Obligor.

Permitted Intercompany Loans loans made by an Obligor to a non-Obligor Subsidiary of Borrower so long as (i) no Default or Event of Default exists immediately before and after giving effect thereto and (ii) the aggregate outstanding amount thereof at no time exceeds $20,000,000. Permitted Lien: as defined in Section 10.2.2.

Examples of Permitted Intercompany Loans in a sentence

• Notwithstanding the foregoing, the Borrower shall not permit to exist any Lien on any of the shares of any Material Subsidiary owned by another Loan Party, other than a Lien in favour of a Loan Party or in favour of any other Subsidiary of the Borrower which has not incurred and will not incur Indebtedness for Borrowed Money other than Permitted Intercompany Loans.

• Make any loans or other advances of money to any Person, other than (a) for salary, travel advances, advances against commissions and other similar advances to employees and extensions of trade credit in the ordinary course of business, (b) deposits with financial institutions permitted under this Agreement, (c) prepaid expenses, and (d) Permitted Intercompany Loans.

• Make or permit to exist Investments other than Permitted Investments and Permitted Intercompany Loans.

• For the avoidance of doubt, the SAFStor Valuation will account for the outstanding amount of any Permitted Intercompany Loans, as applicable.

• No Borrower shall incur or allow to remain outstanding any Financial Indebtedness (except for the Loan and any Permitted Intercompany Loans) unless it is a Permitted Transaction.

More Definitions of Permitted Intercompany Loans

Permitted Intercompany Loans means loans in cash made:

Permitted Intercompany Loans means (i) intercompany loans outstanding as of the Closing Date, as disclosed in the Schedule as of the Closing Date, together with any interest thereon accrued in the ordinary course of business, (ii) additional intercompany loans not to exceed $750,000 in the aggregate per fiscal year, net of any intercompany loans repaid during such fiscal year, and (iii) other intercompany loans which are subject to a subordination agreement in favor of Bank on terms and conditions acceptable to Bank in its sole discretion.

Permitted Intercompany Loans means (i) intercompany loans granted to the Borrower by any of its Subsidiaries, (ii) loans granted to the Borrower by any holders of its Capital Stock or (iii) loans granted to the Borrower by the Guarantor, where, in each case, the proceeds of which are used to repay the Seller Financing; provided that, any such Permitted Intercompany Loans shall be subordinated to the Indebtedness hereunder on terms reasonably satisfactory to the Lender.

Permitted Intercompany Loans means advances and accounts between one or more of the Company and any of its Subsidiaries, which shall be on commercially reasonable terms.

Permitted Intercompany Loans means contributions of capital to or from, or intercompany loans or receivables among, any of the Loan Parties.

Permitted Intercompany Loans any loan or advance made by the Borrower to the Sponsor, or any Person who is incorporated or resides in the Country directly owning Share Capital of the Borrower that (i) is made with funds available for the making of Restricted Payments, (ii) does not impose any liability on the Borrower other than taxes due in connection with interest or other charges payable to the Borrower in connection therewith and for the payment of which the Borrower has established cash reserves acceptable to the Senior Lenders, and (iii) is made following the occurrence of the Change of Corporate Form;

Permitted Intercompany Loans means loans made by (a) a Loan Party to another Loan Party (other than the Parent), (b) a non-Loan Party to another non-Loan Party, (c) a non-Loan Party to a Loan Party, so long as the parties thereto are party to the Intercompany Subordination Agreement, and (d) a Loan Party to a non-Loan Party so long as (i) the aggregate amount of all such loans made by the Loan Parties does not exceed $100,000 at any time outstanding, (ii) no Default or Event of Default has occurred and is continuing either before or after giving effect to such loan, and (iii) the Borrowers have Liquidity of not less than $1,000,000 after giving effect to such loan.