Indebtedness of Others Clause Samples
The "Indebtedness of Others" clause defines how a party's obligations or liabilities related to the debts of third parties are treated under the agreement. Typically, this clause outlines whether a party is permitted to guarantee, assume, or otherwise become responsible for the debts or financial obligations of other individuals or entities, and may set limits or require prior consent for such actions. By clearly specifying these terms, the clause helps prevent unexpected financial exposure and ensures that the parties are aware of and can manage the risks associated with taking on the indebtedness of others.
Indebtedness of Others. Guarantee or become directly or contingently liable for the Indebtedness of any Person, except by endorsement of instruments for deposit and except for the existing guarantees made by Borrower prior to the date hereof, if any, which are set forth in the Schedule;
Indebtedness of Others. Become directly or contingently liable for the Indebtedness of any Person, except by endorsement of instruments for deposit;
Indebtedness of Others. 16 6.2.6 Repurchase...................................................................16 6.2.7 Name.........................................................................16 6.2.8 Prepayment...................................................................16 6.2.9 Capital Expenditure..........................................................16 6.2.10 Compensation................................................................16 6.2.11 Indebtedness................................................................16 6.2.12 Affiliate Transactions......................................................16 6.2.13
Indebtedness of Others. 19 6.2.6 Repurchase.................................... 19 6.2.7 Name.......................................... 19 6.2.8 Prepayment.................................... 19 6.2.9 Capital Expenditure........................... 19 6.2.10 Compensation................................. 19 6.2.11 Indebtedness................................. 19 6.2.12 Affiliate Transactions....................... 19 6.2.13
Indebtedness of Others. Become directly or contingently liable for the Indebtedness of any Person, except by endorsement of instruments for deposit, except for (i) Indebtedness of the other Borrower(s) in an aggregate amount outstanding at any time of not greater than Two Hundred Thousand Dollars ($200,000), and (ii) Indebtedness of US 1 in an aggregate principal amount outstanding at any time of not greater than One Hundred Thousand Dollars ($100,000);"
4. The section in the Schedule to the Loan Agreement entitled "Loans (Section 1.2)" is hereby amended to read in its entirety as follows:
Indebtedness of Others. Guarantee or become directly or contingently liable for the Indebtedness of any Person, except by (i) endorsement of instruments for deposit, (ii) for the existing guarantees made by Borrower prior to the date hereof, if any, which are set forth in the Schedule: (iii) contingent obligation with respect to letters of credit, banker's acceptances, surety bonds and the like in the ordinary course of business, (iv) contingent obligations of Borrower with respect to any obligations of a subsidiary, (vi) continent obligations in connection with permitted investments under Section 6.2.2. and (vii) contingent obligations consisting of guaranties and other credit support in respect of transactions entered into in the ordinary course of business and any other contingent obligations, not to exceed $20,000.000 in the aggregate at any time.
Indebtedness of Others. 19 6.2.6 Repurchase. 19 6.2.7 Name. 19 6.2.8 Prepayment. 19 6.2.9 Capital Expenditure. 19 6.2.10 Compensation. 19 6.2.11 Indebtedness. 19 6.2.12 Affiliate Transactions. 19 6.2.13 Nature of Business. 19 6.2.14 FINOVA's Name. 19 6.2.15 Margin Security. 19 6.2.16 Real Property. 19 6.2.17 Year 2000 20
Indebtedness of Others. GUARANTEE OR BECOME DIRECTLY OR ---------------------- CONTINGENTLY LIABLE FOR THE INDEBTEDNESS OF ANY PERSON, EXCEPT BY ENDORSEMENT OF INSTRUMENTS FOR DEPOSIT AND EXCEPT FOR THE EXISTING GUARANTEES MADE BY BORROWER PRIOR TO THE DATE HEREOF, IF ANY, WHICH ARE SET FORTH IN THE SCHEDULE;
Indebtedness of Others. Neither such Loan Party nor any of its Subsidiaries will purchase, repurchase or otherwise acquire any Indebtedness of other Persons other than in connection with the AJG IEGP Loan Transaction.
Indebtedness of Others. Other than pursuant to trading related contracts entered into in the ordinary course of business which are not Material Contracts, no MGT/IST Group Company is responsible for the indebtedness of any other person which is not a MGT/IST Group Company (any such person a “Third Party”) or is a party to any option or pre-emption right or any guarantee, suretyship or other obligation to pay, purchase or provide funds (by whatever means, including the advance of money, the purchase of or subscription for shares or other securities or the purchase of assets or services) for the payment of any indebtedness of any Third Party or as an indemnity against any default in payment of such indebtedness by such Third Party. All such agreements and arrangements between MGT/IST Group Companies have been Disclosed.