Amendment to Use of Proceeds Covenant. Section 5.08 of the Credit Agreement is hereby amended and restated as follows:
Amendment to Use of Proceeds Covenant. The first sentence of Section 11.7 of the Credit Agreement is amended to read in full as follows: "The proceeds of Borrowings will not be used for any purpose other than (a) working capital, (b) to finance the acquisition, exploration and development of Mineral Interests and related capital assets, (c) to finance the Mercury Asset Acquisition, (d) to refinance the obligations outstanding under the Existing Credit Agreement, (e) to refinance the obligations outstanding under the MMI/Compass Credit Agreement, and (f) to refinance the obligations outstanding under the MGV/CIBC Credit Agreement."
Amendment to Use of Proceeds Covenant. Section 7.16 of the Credit Agreement is hereby amended by deleting the text thereof in its entirety, and substituting therefor the following: The proceeds of the Loans shall be used by the Borrowers solely for (a) the repayment of the Retired Indebtedness, (b) the financing of the Borrowers' existing multifamily housing and commercial property management business, and (c) the financing of (i) the growth of the Borrowers' multifamily housing and commercial property management business, (ii) the Borrowers' acquisition of or investment in businesses that manage, service, finance and/or own multifamily housing or commercial properties, and (iii) the Borrowers' acquisition of or investment in businesses that provide services to the owners, managers and/or residents of multifamily housing or commercial properties (such businesses described in Section 7.16(c) are hereinafter referred to as "Complementary Businesses"), provided that neither the financing nor acquisition or investment contemplated by Section 7.16(a), (b) or (c) cause the Borrowers to be in default of any other covenants in this Agreement or create a violation of law or banking regulation, and (d) the Borrowers' acquisition or investment, where necessary or appropriate, of multifamily and commercial real estate assets or direct or indirect interests in entities owning such multifamily or commercial real estate assets for purposes of acquiring current property management rights, provided, that any such acquisitions of real estate assets or direct or indirect interests in entities owning such multifamily or commercial real estate assets shall be held for a short duration and with the intention of finding a subsequent purchaser of such real estate assets or direct or indirect interests in entities owning such multifamily or commercial real estate assets, subject to the Borrowers' retention of property management rights, and PROVIDED, FURTHER, that any use of proceeds for an acquisition or investment as described above shall be permitted pursuant to this Section 7.16 solely to the extent that such acquisition or investment is not otherwise prohibited by the terms of this Agreement. The Borrowers shall obtain Letters of Credit solely in furtherance of the above purposes. No portion of the Loans is to be used, and no portion of the Letter of Credit is to be obtained, for the purpose of purchasing or carrying any "margin security" or "margin stock" as such terms are used in Regulations U and X of the Board...
Amendment to Use of Proceeds Covenant. Section 9.1(d) of the Credit Agreement is hereby amended by deleting the period at the end there of and replacing it with the following: “and shall not use the proceeds of any Loan (i) to make a payment or give money, or anything else of value, to any Person in violation of any Anti-Corruption Laws or (ii) in any manner that would result in the violation of any applicable Sanctioned Person Legislation and Sanction Regulations.”
Amendment to Use of Proceeds Covenant is amended by inserting therein before the proviso thereto the phrase “including to fund the dividends payable to Xxxxx stockholders in connection with the Xxxxxx’x Merger”.
Amendment to Use of Proceeds Covenant. (J) is amended in its entirety to read as follows:
Amendment to Use of Proceeds Covenant. Section 10.7 of the Credit Agreement shall be amended to delete the figure "$10,000,000" in the thirteenth line thereof, and in lieu thereof substitute the figure "$15,000,000".
Amendment to Use of Proceeds Covenant. Section 7.2 (J) of the Credit Agreement is hereby deleted and replaced in its entirety with the following, effective as of the Second Amendment Effective Date:
Amendment to Use of Proceeds Covenant. Section 10.7 of the Credit Agreement shall be amended to read in full as follows:
Amendment to Use of Proceeds Covenant. (H) of the Existing Loan Agreement is hereby amended by deleting the section in its entirety and substituting therefore the following:
