Common use of No substantial liabilities Clause in Contracts

No substantial liabilities. Except in the ordinary course of business, neither Borrower shall without the prior written consent of the Agent, and shall procure that none of the Corporate Guarantors (other than Dryships) shall without the prior written consent of the Agent, incur any liability to any third party which is in the Agent’s opinion of a substantial nature.”; 4.13 clause 12.

Appears in 1 contract

Sources: Secured Loan Facility Agreement (DryShips Inc.)

No substantial liabilities. Except in the ordinary course of business, neither Borrower shall without the prior written consent of the Agent, and shall procure that none of the Corporate Guarantors (other than Dryships) shall without the prior written consent of the Agent, incur any liability to any third party which is in the Agent’s opinion of a substantial nature.”; 4.13 clause 12.

Appears in 1 contract

Sources: Secured Loan Agreement (DryShips Inc.)