Permitted Affiliate Transactions

Permitted Affiliate Transactions. (i) employment agreements entered into by the Company or any Restricted Subsidiary in the ordinary course of business with the approval of a majority of the disinterested members of the Company's Board of Directors; (ii) transactions between or among the Company and its 90% Owned Subsidiaries; (iii) reasonable and customary fees and compensation paid to and indemnity provided on behalf of, officers, directors, employees or consultants of the Company or any Restricted Subsidiary as determined in... good faith by a majority of the disinterested directors of the Company's Board of Directors or, if none, unanimously by such Board of Directors; (iv) the "Park & Ride Lease" between Showplace Bowling Center Inc., as lessor, and Atlantic Express Coachways Inc., as lessee, and the lease between Dom-Rich Associates, Inc., as lessor, and Staten Island Bus, Inc., as lessee, in each case in effect as of the Closing Date; (v) annual premiums paid to Atlantic North Casualty Company, in the ordinary course of business, for insurance; provided, that such premiums do not exceed the annual aggregate deductibles on the Company's insurance policies then in effect; and (vi) the execution, delivery and performance of any documents, and the incurrence and payment of obligations in respect of borrowings, interest, expenses, fees, the grant of security interests in the assets of the Company and its Restricted Subsidiaries and guarantees, in connection with, and including, the amendment to the Revolving Credit Facility pursuant to which the maximum principal amount permitted to be borrowed thereunder is increased from $125.0 million to $143.0 million (including any increase in the principal amount of such Indebtedness resulting from any accrual, compounding or payment-in-kind of interest under such Indebtedness which is not paid currently in cash or which is added to the principal amount of such Indebtedness), notwithstanding that any Affiliate of the Company may be a party to the Revolving Credit Facility or to any transaction or payment pursuant to or in connection with the Revolving Credit Facility, including the amendment thereof as aforesaid. View More

Permitted Affiliate Transactions. Shall be as defined in subsection 11(i) hereof.

Permitted Affiliate Transactions. Means (i) transactions consummated in the ordinary course of business in a manner and to an extent consistent with past practice and necessary or desirable for the prudent operation of its business, for fair consideration and on terms no less favorable to Borrower or its subsidiaries than would be obtainable in a comparable arm's length transaction with a Person that is not an Affiliate thereof, (ii) transactions among Loan Parties, (iii) Permitted Restricted Payments and Permitted Investments,... (iv) sales of common equity interests of the Borrower and the granting of registration and other customary rights in connection therewith, (v) reasonable and customary director and officer compensation (including bonuses and stock option programs), benefits and indemnification arrangements, in each case approved by the Board of Directors (or a committee thereof) of such Loan Party or such subsidiary, and (vi) transactions between the Borrower or any of its subsidiaries and any Affiliate of Borrower or any of its subsidiaries in existence on the date hereof. View More