Examples of Purpose Credit in a sentence
No Borrower will use any of the proceeds hereunder, directly or indirectly, to purchase or carry, or to reduce or retire any indebtedness that was originally incurred to purchase or carry, any Margin Stock or for any other purpose that might constitute the transactions contemplated hereby as a "Purpose Credit" within the meaning of the FRB's Margin Regulations.
The credit extended under this Agreement does not constitute "Purpose Credit" within the meaning of the FRB's Margin Regulations.
None of the proceeds of the credit secured hereby shall be used directly or indirectly for the purpose of purchasing or carrying any margin stock in violation of any of the provisions of Regulation U of the Board of Governors of the Federal Reserve System ("Regulation U"), or for the purpose of reducing or retiring any indebtedness which was originally incurred to purchase or carry margin stock or for any other purchase which might render the Loan a "Purpose Credit" within the meaning of Regulation U.
None of the proceeds from the Facility will be used for the purpose of purchasing or carrying directly or indirectly margin stock or for any other purpose that would constitute this transaction a "Purpose Credit" within the meaning of Regulations U and X of the Board of Governors of the Federal Reserves System, as any of them may be amended from time to time.
Notwithstanding anything to the contrary in this Agreement and to the extent applicable, no liabilities or obligations the Client has arising out of or constituting Purpose Credit shall be secured by, and the Custodian shall have no lien upon, any Margin Stock, and any such lien or security interest being hereby expressly disclaimed by the Custodian.
The Purpose Credit Stock Options shall not constitute collateral or other direct or indirect security for the repayment of this Note.
Purpose Credit Stock Options" xxxxx xxxx xxx Xtock Options described on Schedule I to the Promissory Note (Purpose Credit) of even date herewith with The Fries Family Partnership LLLP as Borrower and the Company as Holder and any Stock Options directly or indirectly securing any promissory note or guaranty heretofore or hereafter executed by Borrower or Michael T.
Purpose Credit Stock Options" xxxxx xxxx xxx Xtock Options described on Schedule I to this Note and any Stock Options directly or indirectly securing any promissory note or guaranty heretofore or hereafter executed by Borrower or Michael T.
Until this Note has been paid in full, the Borrower shall in no event (i) exercise any of the Purpose Credit Stock Options, unless all of the proceeds of such exercise are applied toward payment of due but unpaid interest or the outstanding principal balance of this Note or any other note evidencing purpose credit from Borrower or Michael T.
Fries payable to the Company, or (ii) take any steps tx xxxxxxxx xxx xf such Purpose Credit Stock Options.