Permitted Loans means:
Permitted Loans means: (a) the extension of trade credit by a Borrower to its Customer(s), in the Ordinary Course of Business in connection with a sale of Inventory or rendition of services, in each case on open account terms; (b) loans to employees in the Ordinary Course of Business not to exceed $1,500,000 in the aggregate at any time outstanding; (c) intercompany loans from a Foreign Subsidiary of a Loan Party to another Foreign Subsidiary of a Loan Party, and (d) intercompany loans (i) existing on the Closing Date, (ii) between Loan Parties and other Loan Parties, (iii) from a non-Loan Party (who nonetheless is an Affiliate of any Borrower) to a Loan Party and (iv) from a Loan Party to a non-Loan Party that is a Subsidiary of a Borrower after the Closing Date in the Ordinary Course of Business and in an amount (such amount so calculated net of the amount of all intercompany loans owed to Loan Parties from non-Loan Parties) not to exceed $40,000,000 at any time outstanding; provided that (i) the Agent shall have the right to request that each such intercompany loan is evidenced by a promissory note (including, if applicable, any master intercompany note executed by Loan Parties and/or applicable Subsidiaries) on terms and conditions (including terms subordinating payment of the indebtedness evidenced by such note to the prior payment in full of all Obligations) acceptable to Agent in its sole discretion that has been delivered to Agent either endorsed in blank or together with an undated instrument of transfer executed in blank by the applicable Borrower(s) that are the payee(s) on such note and (ii) no such promissory note shall be required to be delivered prior to the date that is sixty (60) days after the Closing Date (or such later date of delivery as may be agreed to by the Agent in its reasonable discretion).
Permitted Loans has the meaning set forth in Section 5.4.
Examples of Permitted Loans in a sentence
Other than the Permitted Loans, all payments due under this Note (a) shall rank pari passu with all Other Notes and (b) shall be senior to all other Indebtedness of the Company and its Subsidiaries.
More Definitions of Permitted Loans
Permitted Loans means: (a) the extension of trade credit by a Borrower to its Customer(s), in the Ordinary Course of Business in connection with a sale of Inventory or rendition of services, in each case on open account terms; (b) loans to employees in the Ordinary Course of Business not to exceed as to all such loans the aggregate amount of $500,000 at any time outstanding; (c) intercompany loans between and among Borrowers, so long as, at the request of Agent, each such intercompany loan is evidenced by a promissory note (including, if applicable, any master intercompany note executed by Borrowers) on terms and conditions (including terms subordinating payment of the indebtedness evidenced by such note to the prior payment in full of all Obligations) acceptable to Agent in its sole discretion that has been delivered to Agent either endorsed in blank or together with an undated instrument of transfer executed in blank by the applicable Borrower(s) that are the payee(s) on such note; (d) loans to any Foreign Subsidiary (other than Non-NAM Subsidiaries) of any Borrower or any other Loan Party in an aggregate amount not to exceed $4,000,000 outstanding at any time; and (e) loans to all Non-NAM Subsidiaries in an aggregate principal amount during the Term no greater than $2,000,000, unless otherwise approved by the Agent in accordance with this Agreement.
Permitted Loans has the meaning set forth in the Schedule.
Permitted Loans means any State revolving loans between the Kansas Department of Health and Environment and the City for public drinking water improvements, pollution control improvements, or stormwater improvements
Permitted Loans means advances and accounts between one or more of the Company and any of its Subsidiaries, which shall be on commercially reasonable terms, provided that any such advance or account is secured by means of a security agreement in form and substance satisfactory to the Collateral Agent, is assigned to the Collateral Agent and forms part of the Collateral.
Permitted Loans means: (a) the extension of trade credit by a Loan Party to its Customer(s), in the Ordinary Course of Business in connection with a sale of Inventory or rendition of services, in each case on open account terms; (b) loans to employees in the Ordinary Course of Business not to exceed as to all such loans the aggregate amount of $100,000 at any time outstanding; and (c) intercompany loans between and among Loan Parties, so long as, at the request of any Agent, each such intercompany loan is evidenced by a promissory note (including, if applicable, any master intercompany note executed by Loan Parties) on terms and conditions (including terms subordinating payment of the indebtedness evidenced by such note to the prior payment in full of all Obligations) acceptable to Agents in their sole discretion that has been delivered to Administrative Agent either endorsed in blank or together with an undated instrument of transfer executed in blank by the applicable Loan Party(ies) that are the payee(s) on such note.
Permitted Loans means any Loan or Loans entered into after 7 June 2013 and which is/are:
Permitted Loans means: (a) the extension of trade credit by a Loan Party (other than an Inactive Subsidiary) to its Customers in the Ordinary Course of Business in connection with a sale of Inventory or rendition of services, in each case on open account terms; (b) loans to employees of a Loan Party (other than an Inactive Subsidiary) in the Ordinary Course of Business not to exceed as to all such loans the aggregate amount of $50,000 at any time outstanding; and (c) intercompany loans between and among the Loan Parties (other than Inactive Subsidiaries), so long as, at the request of Agent, each such intercompany loan is evidenced by a promissory note (including, if applicable, any master intercompany note executed by the Loan Parties) on terms and conditions (including terms subordinating payment of the Indebtedness evidenced by such note to the prior Payment in Full of all of the Obligations) reasonably acceptable to Agent in its sole discretion that has been delivered to Agent either endorsed in blank or together with an undated instrument of transfer executed in blank by the applicable Loan Parties that are the payees on such note.