Business Loan. Borrowers hereby represents that: (a) the proceeds of the Loan will be used for the purposes specified in 815 ILCS 205/4(1)(a) or (c) of the Illinois Compiled Statutes, as amended; (b) the Loan constitutes a “business loan” within the purview of those Sections; and (c) the proceeds of the Loan will not be used for the purchase of registered equity securities within the purview of Regulation “U” issued by the Board of Governors of the Federal Reserve System.
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Samples: Mortgage Note (Electric City Corp), Mortgage Note (Electric City Corp), Mortgage Note (Electric City Corp)
Business Loan. Borrowers Borrower hereby represents that: (a) the proceeds of the Loan will be used for the purposes specified in 815 ILCS 205/4(1)(a) or (c) of the Illinois Compiled Statutes, as amended; (b) the Loan constitutes a “business loan” within the purview of those Sections; and (c) the proceeds of the Loan will not be used for the purchase of registered equity securities within the purview of Regulation “U” issued by the Board of Governors of the Federal Reserve System.
Appears in 2 contracts
Samples: Mortgage Note (Lime Energy Co.), Mortgage Note (Lime Energy Co.)
Business Loan. Borrowers The Borrower hereby represents that: (a) the proceeds of the Loan will be used for the business purposes specified as set forth in Illinois Interest Act, 815 ILCS 205/4(1)(a) or (c) of the Illinois Compiled Statutes, as amended; 205 and (b) the Loan constitutes a “business loan” within the purview of those Sections; and (c) the proceeds of the Loan purchase of this Note will not be used for the purchase of registered equity securities within the purview of Regulation “"U” " issued by the Board of Governors of the Federal Reserve System.
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