Permitted Intercompany Advances

Permitted Intercompany Advances. Loans, contributions, and Restricted Payments made by (a) a Loan Party to another Loan Party so long as the parties thereto are party to the Intercompany Subordination Agreement, (b) a Subsidiary of a Borrower that is not a Loan Party to another Subsidiary of a Borrower that is not a Loan Party, (c) a Subsidiary of a Borrower that is not a Loan Party to a Loan Party so long as the parties thereto are party to the Intercompany Subordination Agreement, and (d) a Loan Party to a Subsidiary of a... Borrower that is not a Loan Party so long as (i) the aggregate amount of all such loans, contributions, and Restricted Payments made in the aggregate during the term of the Agreement (by type, not by the borrower) does not exceed $10,000,000 outstanding at any one time, (ii) at the time of the making of such loan, no Event of Default has occurred and is continuing or would result therefrom, and (iii) Borrowers have Availability equal to or greater than 12% of the Maximum Revolver Amount immediately after giving effect to each such loan. View More