Common use of Advances and Letters of Credit Clause in Contracts

Advances and Letters of Credit. The proceeds of the Advances and the Letters of Credit will be used by the Borrower (i) to refinance existing Indebtedness, (ii) pay fees and expenses incurred in connection with the transactions contemplated hereby, and (iii) for working capital and general corporate purposes of the Borrower and its Subsidiaries.

Appears in 4 contracts

Samples: 5 Year Credit Agreement (NOV Inc.), 5 Year Credit Agreement (National Oilwell Varco Inc), Credit Agreement (National Oilwell Varco Inc)

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Advances and Letters of Credit. The proceeds of the Advances and the Letters of Credit will be used by the Borrower (i) to refinance existing Indebtedness, (ii) pay fees and expenses incurred in connection with the transactions contemplated herebySpecified Transactions, and (iiiii) for working capital and general corporate purposes of the Borrower and its Subsidiaries.

Appears in 2 contracts

Samples: Credit Agreement (NOW Inc.), Credit Agreement (NOW Inc.)

Advances and Letters of Credit. The proceeds of the Advances and ------------------------------ the Letters of Credit will be used by the Borrower (i) to refinance existing Indebtedness, (ii) pay fees Indebtedness under the Existing Credit Agreement and expenses incurred in connection with the transactions contemplated hereby, and (iii) for working capital and general corporate purposes of the Borrower and its Subsidiaries.

Appears in 1 contract

Samples: Credit Agreement (Varco International Inc /De/)

Advances and Letters of Credit. The proceeds of the Advances and the Letters of Credit will be used by the Borrower (i) to refinance existing Indebtedness, (ii) pay fees Indebtedness under the Existing Credit Agreement and expenses incurred in connection with the transactions contemplated hereby, and (iii) for working capital and general corporate purposes of the Borrower and its Subsidiaries.

Appears in 1 contract

Samples: Credit Agreement (Varco International Inc /De/)

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Advances and Letters of Credit. The proceeds of the Advances and the Letters of Credit will be used by the Borrower (i) to refinance existing Indebtedness, (ii) pay fees and expenses incurred in connection with the transactions contemplated hereby, and (iii) for working capital and general corporate purposes of the Borrower and its Subsidiaries, and (iii) to support commercial paper issued by the Borrower.

Appears in 1 contract

Samples: Credit Agreement (National Oilwell Varco Inc)

Advances and Letters of Credit. The proceeds of the Advances and the Letters of Credit will be used by the Borrower (i) to fund the consideration for the Merger, (ii) refinance existing Indebtedness, (ii) pay fees and expenses incurred in connection with the transactions contemplated hereby, and (iii) for working capital and general corporate purposes of the Borrower and its Subsidiaries, and (iv) to support commercial paper issued by the Borrower.

Appears in 1 contract

Samples: Credit Agreement (National Oilwell Varco Inc)

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