Activities of the Borrower Clause Samples

The "Activities of the Borrower" clause defines the permitted and restricted actions that the borrower may undertake during the term of a loan agreement. It typically outlines the types of business operations, investments, or transactions the borrower is allowed to engage in, and may set limitations on activities such as incurring additional debt, selling assets, or entering into new business ventures. By clearly specifying these boundaries, the clause helps protect the lender’s interests by ensuring the borrower maintains financial stability and does not take on excessive risk that could jeopardize loan repayment.
Activities of the Borrower. (a) The Borrower shall not enter into any business either directly or through any Subsidiary except for businesses in which the Borrower is engaged on the date of this Agreement. (b) The Borrower shall not amend, modify or waive or terminate any provision of, or permit or agree to the amendment, modification, waiver or termination of any provision of, any of the Loan Documents, License Agreements or the Acquisition Agreement without the prior written consent of the Lender (it being understood that the Lender shall be entitled to withhold its consent if such amendment, modification or waiver is or would be adverse in any respect to the Lender, as determined by the Lender in its sole discretion).
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Activities of the Borrower. Without limiting the effect of any provision contained in this Article VIII and notwithstanding any implication to the contrary hereunder, the Borrower will not engage in any business activity other than (i) its ownership of all the shares of Capital Stock of Operations, Thrifty Holdco, RCFC, Dollar Thrifty Funding, Dollar, Dollar Thrifty Europe Limited and any other Person that may become a direct Subsidiary of the Borrower in accordance with the provisions hereof to the extent such Person does not conduct a business activity which is one of the principal business activities conducted by Operations, Thrifty or Dollar on the date hereof and (ii) its compliance with the obligations applicable to it under the Loan Documents, the MTN Program Documents, the Conduit Program Documents and the CP Program Documents. Without limiting the generality of the immediately preceding sentence, the Borrower will not (a) create, incur, assume or suffer to exist any Indebtedness (other than Indebtedness under this Agreement or any other Loan Document, any Demand Capitalization Note, any guaranty of Vehicle Debt, any intercompany Indebtedness pursuant to clause (l) of Section 8.2.2 or any Subordinated Debt pursuant to clause (r) of Section 8.2.2), (b) create, assume, or suffer to exist any Lien upon, or grant any options or other rights with respect to, any of its revenues, property or other assets, whether now owned or hereafter acquired (other than pursuant to the Loan Documents or any intercompany Indebtedness described in clause (f) of Section 8.2.3), (c) wind up, liquidate or dissolve itself (or suffer to exist any of the foregoing), or consolidate or amalgamate with or merge into or with any other Person, or convey, sell, transfer, lease or otherwise dispose of all or any part of its assets, in one transaction or a series of transactions, to any Person or Persons, (d) create, incur, assume or suffer to exist any Investment in any Person other than (i) as provided in clause (a), (b), (g), (h) or (j) of Section 8.2.5 or (e) permit to be taken any action that would result in a Change in Control. The Borrower agrees not to commence or cause the commencement of any of the actions described in clause (b), (c) or (d) of Section 9.1.9 of this Agreement with respect to any of its Subsidiaries.
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Activities of the Borrower. Prior to the Closing Date, the Borrower has not (a) engaged in any business or activity other than (i) holding shares in the Stock of DataPath, Inc. and membership interests in the Subsidiaries listed on Schedule 4.3(b) (Ownership of Subsidiaries), (ii) paying taxes, (iii) preparing reports to Governmental Authorities and to its shareholders and (iv) holding directors and shareholders meetings, preparing corporate records and other corporate activities required to maintain its separate corporate structure or (b) incurred or assumed or become liable in respect of any Indebtedness, liabilities or Liens.
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Activities of the Borrower. Without prejudice to any other provision hereof, the Borrower shall not engage in any business or activity or incur any liability (other than operating expenses up to a maximum of $10,000 per financial year of the Borrower) or own any revenues or assets whatsoever other than as stated in Clause 11.17 (Ownership of Assets by the Borrower) or enter into any agreement, instrument or arrangement whatsoever other than: (i) the execution, delivery and performance of its obligations under, and the exercise of the rights granted to it by, the Facility Documents to which it is a party and the transactions hereby and thereby contemplated; (ii) for the purposes of documenting the making of, or the making of, Intercompany Loans and Restricted Payments permitted hereunder; (iii) in order to manage its voting and economic rights or interests in Nova TV and matters incidental thereto; or (iv) any agreement, instrument or arrangement solely for the purpose of effecting the sale and transfer to any other person of its voting and economic interests in Nova TV provided that such voting and economic interests following such sale are no less than 79%.
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Related to Activities of the Borrower

  • Activities of the Manager The services of the Manager to the Fund hereunder are not to be deemed exclusive, and the Manager and any of its affiliates shall be free to render similar services to others. Subject to and in accordance with the Agreement and Declaration of Trust and By-Laws of the Trust and Section 10(a) of the 1940 Act, it is understood that trustees, officers, agents and shareholders of the Trust are or may be interested in the Manager or its affiliates as directors, officers, agents or stockholders; that directors, officers, agents or stockholders of the Manager or its affiliates are or may be interested in the Trust as trustees, officers, agents, shareholders or otherwise; that the Manager or its affiliates may be interested in the Fund as shareholders or otherwise; and that the effect of any such interests shall be governed by said Agreement and Declaration of Trust, By-Laws and the 1940 Act.

  • Activities of the Subadviser Except to the extent necessary to perform its obligations hereunder, nothing herein shall be deemed to limit or restrict the Subadviser's right, or the right of any of the Subadviser's directors, officers or employees to engage in any other business or to devote time and attention to the management or other aspects of any other business, whether of a similar or dissimilar nature, or to render services of any kind to any other corporation, trust, firm, individual or association.

  • Activities of JCM The services of JCM to the Trust hereunder are not to be deemed to be exclusive, and JCM and its affiliates are free to render services to other parties. It is understood that trustees, officers and shareholders of the Trust are or may become interested in JCM as directors, officers and shareholders of JCM, that directors, officers, employees and shareholders of JCM are or may become similarly interested in the Trust, and that JCM may become interested in the Trust as a shareholder or otherwise.

  • OTHER INVESTMENT ACTIVITIES OF THE SUB-ADVISER The Fund acknowledges that the Sub-Adviser or one or more of its affiliated persons may have investment responsibilities or render investment advice to or perform other investment advisory services for other individuals or entities and that the Sub-Adviser, its affiliated persons or any of its or their directors, officers, agents or employees may buy, sell or trade in any securities for its or their own respective accounts ("Affiliated Accounts"). Subject to the provisions of Section 7(b) hereof, the Fund agrees that the Sub-Adviser or its affiliated persons may give advice or exercise investment responsibility and take such other action with respect to other Affiliated Accounts which may differ from the advice given or the timing or nature of action taken with respect to the Series Account, provided that the Sub-Adviser acts in good faith, and provided further, that it is the Sub-Adviser's policy to allocate, within its reasonable discretion, investment opportunities to the Series Account over a period of time on a fair and equitable basis relative to the Affiliated Accounts, taking into account the investment objective and policies of the Series and any specific investment restrictions applicable thereto. The Fund acknowledges that one or more of the Affiliated Accounts may at any time hold, acquire, increase, decrease, dispose of or otherwise deal with positions in investments in which the Series Account may have an interest from time to time, whether in transactions which involve the Series Account or otherwise. The Sub-Adviser shall have no obligation to acquire for the Series Account a position in any investment which any Affiliated Account may acquire, and the Fund shall have no first refusal, co-investment or other rights in respect of any such investment, either for the Series Account or otherwise.

  • Activities of the Adviser The services of the Adviser to the Fund hereunder are not to be deemed exclusive, and the Adviser and any of its affiliates shall be free to render similar services to others. Subject to and in accordance with the Agreement and Declaration of Trust and By-Laws of the Trust and Section 10(a) of the 1940 Act, it is understood that trustees, officers, agents and shareholders of the Trust are or may be interested in the Adviser or its affiliates as directors, officers, agents or stockholders; that directors, officers, agents or stockholders of the Adviser or its affiliates are or may be interested in the Trust as trustees, officers, agents, shareholders or otherwise; that the Adviser or its affiliates may be interested in the Fund as shareholders or otherwise; and that the effect of any such interests shall be governed by said Agreement and Declaration of Trust, By-Laws and the 1940 Act.