Application of Loan Proceeds. The Lender may apply the loan proceeds under the notes to the satisfaction of any condition, warranty or covenant of Industries and Machine under any of the Restructure Documents, and any proceeds so applied will be considered as a part of the loan proceeds advanced and will be secured by the Restructure Documents.
Appears in 2 contracts
Samples: Agreement (Excalibur Industries Inc), Agreement (Shumate Industries Inc)
Application of Loan Proceeds. The Lender Bank may apply the loan proceeds from the Loan under the notes Notes to the satisfaction of any condition, warranty or covenant of Industries and Machine the Borrowers under any of the Restructure Loan Documents, and any proceeds so applied will be considered as a part of the loan proceeds from the Loan advanced under the Notes and will be secured by the Restructure Loan Documents.
Appears in 2 contracts
Samples: Loan Agreement (Graymark Healthcare, Inc.), Loan Agreement (Graymark Healthcare, Inc.)
