Activities and Proceeds. Neither Borrower nor any of its affiliates (if any) will engage in any activities or use directly or indirectly the proceeds from the Loan for any purpose for which a small business investment company is prohibited from providing funds by the SBIC Act, including 13 C.F.R. §107.720. Without obtaining the prior written approval of Agent, Borrower will not change within 1 year of the date hereof, Borrower’s current business activity to a business activity which a licensee under the SBIC Act is prohibited from providing funds by the SBIC Act.
Activities and Proceeds. Neither Borrower nor any of its affiliates (if any) will engage in any activities or use directly or indirectly the proceeds from the Loan for any purpose for which a small business investment company is prohibited from providing funds by the SBIC Act, including 13 C.F.R. §107.
Activities and Proceeds. (a) Neither the Borrower nor any of its affiliates (as defined in above) will engage in any activities or use directly or indirectly the proceeds from the Loan for any purpose for which a small business investment company is prohibited from providing funds by the SBIC Act, including 13 C.F.R. ss.107.
(b) Without obtaining the prior written approval of the Lender, the Borrower will not change within one (1) year of the Closing Date the Borrower's business activity from that described on Schedule 8.6 to a business activity which a small business investment company is prohibited from providing funds by the SBIC Act. The Borrower agrees that any such changes in its business activity without such prior written consent of the Lender will constitute a material breach of the obligations of the Borrower under this Agreement and the Loan Documents (an "Activity Event of Default").
Activities and Proceeds. (i) Neither the Company nor any of its Affiliates will engage in any activities or use directly or indirectly the proceeds from the Debenture for any purpose for which a SBIC prohibited from providing funds by the SBIC Act, including 13 C.F.R. ss.107.
(ii) Without obtaining the prior written approval of Purchaser, the Company will not change, within one (1) year of the Closing Date, the Company's business activity from that described on Schedule 5.1(f) to a business activity which a small business investment company is prohibited from providing funds by the SBIC Act. The Company agrees that any such changes in its business activity without such prior written consent of Purchaser will constitute a material breach of the obligations of the Company under the Transaction Documents (an "Activity Event of Default").
Activities and Proceeds. (i) Neither the Company nor any of its subsidiaries will engage in any activities or use directly or indirectly the proceeds from the Class C Shares for any purpose for which a small business investment company is prohibited from providing funds by the SBIC Act and the regulations promulgated thereunder, including Title 13, Code of Federal Regulations, Section 107.
Activities and Proceeds. (a) Neither Borrower nor any of its affiliates will engage in any activities or use directly or indirectly the proceeds from the Argosy Loan for any purpose for which a small business investment company is prohibited from providing funds by the SBIC Act, including 13 C.F.R. ss.107.
(b) Borrower will not, without obtaining the prior written approval of Odyssey, change within one (1) year of the closing under this Agreement, Borrower's business activity to a business activity to which an SBIC is prohibited from providing funds by the SBIC Act. Borrower agrees that any such changes in its business activity without such prior written consent of Odyssey will constitute a material breach of the obligations of Borrower under this Agreement and the financing documents for the Argosy Loan (an "Activity Event of Default"). If an Activity Event of Default occurs, Odyssey has the right to demand, in writing, immediate repayment of the securities evidencing the Argosy Loan, together with interest on the aggregate amount invested from the date of the closing to the date of repayment, and Borrower will immediately make such payment within three (3) days of receipt of a demand. The payment remedy is in addition to any and all other rights and remedies against Borrower to which Odyssey may be entitled.
Activities and Proceeds. (a) Neither the Company nor the Partnership (nor any subsidiaries thereof) will engage in any activities or use directly or indirectly the proceeds from the purchase of the Shares for any purpose for which a small business investment company is prohibited from providing funds by the SBIC Act.
(b) The Company will deliver within ninety (90) days of the date of this Agreement to Blue Rock a written report, certified as correct by the Company's chief financial officer, verifying the purposes and the amounts for which proceeds from the purchase of the Shares have been disbursed, and, if the proceeds have not been fully disbursed within that 90-day period, an additional report also so certified, delivered not later than the end of each succeeding 90-day period, verifying the purposes and the amounts for which such proceeds have been disbursed. The Company will supply to the Investors such additional information and documents as any Investor reasonably requests with respect to use of proceeds and will permit such Investor to have access to any and all Company or Partnership records and information and personnel as such Investor reasonably deems necessary to verify how proceeds have been or are being used and to assure that the proceeds have been used for the purposes specified. The Company agrees that any diversion by the Company of the proceeds of the purchase of the Shares for any purpose other than those permitted by the SBIC Act, without the prior written consent of the Investors, will constitute a breach of the covenants of the Company under this Agreement (a "Proceeds Event of Default").
(c) The Company will not, without obtaining the prior written approval of the Investors, within one year of the purchase of the Shares by the Investors change the Company's business activity from the current business activity conducted by the Company to a business activity to which a small business investment company is prohibited from providing funds by the SBIC Act. The Company agrees that any such change in its business activity without such prior written consent of the Investors will constitute a breach of the covenants of the Company under this Agreement (an "Activity Event of Default").
(d) If either a Proceeds Event of Default or an Activity Event of Default occurs, Blue Rock will have the right to demand immediate repayment of the purchase price theretofore paid by Blue Rock for the Shares theretofore purchased by Blue Rock, together with interest thereon at The Ch...
Activities and Proceeds. (a) The Company will not engage in any activities, or directly or indirectly use the proceeds from the investment hereunder by Cardinal, for any purpose for which a small business investment company is prohibited from providing funds by the SBIC Act.
(b) Unless the prior written approval of Cardinal is obtained, the Company will not change, within one year of the Closing Date, the Company’s business activity to a business activity to which a small business investment company is prohibited from providing funds by the SBIC Act. Any such changes to the Company’s business activity without such prior written consent of Cardinal will constitute a material breach of the obligations of the Company to Cardinal under this Agreement.
Activities and Proceeds. (i) Neither the Company nor any of its Subsidiaries will engage in any activities or use directly or indirectly the proceeds from the Note for any purpose for which a small business investment company is prohibited from providing funds by the SBIC Act and the regulations promulgated thereunder, including 13 C.F.R. 107.
(ii) The Company will not change the Company's business activity from that described on Schedule 0, to a business activity which a small business investment company is prohibited from providing funds by the SBIC Act and the regulations promulgated thereunder. The Company agrees that any such changes in its business activity without such prior written consent of RRGC will constitute an event of default under the Note and a breach of the covenants of the Company under this Agreement (an "Activity Event of Default"). If an Activity Event of Default occurs, RRGC has the right to demand immediate repayment by the Company of the Note with interest to the date of repayment and repurchase by the Company of Acquired Stock at its purchase price. Upon receipt of such demand, the Company will immediately make such payment within three (3) days of receipt of a demand. The payment remedy is in addition to any and all other rights and remedies against the Company and others to which RRGC may be entitled.
Activities and Proceeds. Neither the Company nor any of its Affiliates will engage in any activities or use directly or indirectly the proceeds from the Debenture for any purpose for which a SBIC prohibited from providing funds by the SBIC Act, including 13 C.F.R. ss.107.
