English to Polish Bus/Financial Accounting financial statements

Permitted Loan means (a) any loan made by a member of the Group in the ordinary course of business (in the case of loans and advances of the type described in other clauses of this definition, subject to the limitations set forth in such other clauses); (b) any loan made by a member of the Group to another member of the Group; provided that the aggregate principal amount at any time of such loans made by Obligors to members of the Group that are not Obligors (determined without regard to any write-downs or write-offs of such loans) shall not exceed in respect of all such loans made after the Restructuring Effective Date, $300,000,000 (or its equivalent in another currency or currencies), in each case less the aggregate principal amount of Financial Indebtedness incurred pursuant to clause (l) of the definition of Permitted Financial Indebtedness; (c) loans or advances to officers, directors and employees of any member of the Group made in the ordinary course of business and consistent with past practices of Parent and the Group (including portage) in an aggregate principal amount not to exceed $7,500,000 outstanding at any time; (d) any loans and credits (other than those permitted pursuant to clauses (a) to (c) above or clause (e) below) made after the Restructuring Effective Date by a member of the Group; provided that the aggregate principal amount of all such loans and credits shall not exceed $20,000,000 (or the equivalent of such sum in another currency or currencies) at any time outstanding; (e) any loans made by a member of the Group to Seabed Geosolutions B.V. in an aggregate principal amount not to exceed $50,000,000 outstanding at any time; (f) any loan required to give effect to the Permitted Closing Steps; and (g) any loan required to give effect to cash-pooling arrangements implemented pursuant to the Permitted Business Restructuring.