Common use of Compliance with Federal Reserve Board Regulations Clause in Contracts

Compliance with Federal Reserve Board Regulations. Permit any part of the proceeds of the Loan to be used, directly or indirectly, for the purpose of purchasing or carrying any margin security within the meaning of Regulation U of the Board of Governors of the Federal Reserve System, or for the purpose of purchasing or carrying or trading in any securities under such circumstances as to involve the Borrower or the Guarantors in a violation of Regulation X of said Board or the Lenders in a violation of Regulation U of said Board. In particular, without limitation of the foregoing, neither the Borrower nor the Guarantors will use any part of the proceeds of the Loan to be made hereunder to acquire for itself or for any other person any publicly-held securities of any kind. The assets of the Borrower and the Guarantors do not and will not include any margin securities, and the Borrower and the Guarantors have no present intention of acquiring any margin securities. As used in this Section 3.3(s), the terms “margin security” and “purpose of purchasing or carrying” shall have the meanings assigned to them in the aforesaid Regulation U, and the term “publicly-held”, in respect of securities, shall have the meaning assigned to it in Section 220.7(a) of Regulation T of said Board. If requested by the Lenders, the Borrower will furnish to the Lenders a statement or statements in conformity with the requirements of Federal Reserve Form U-1 referred to in said Regulation U.

Appears in 1 contract

Samples: Loan Agreement (Horizon Offshore Inc)

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Compliance with Federal Reserve Board Regulations. Permit any No part of the proceeds of the Loan to will be used, directly or indirectly, for the purpose of purchasing or carrying any margin security within the meaning of Regulation U of the Board of Governors of the Federal Reserve System, or for the purpose of purchasing or carrying or trading in any securities under such circumstances as to involve the Borrower or the Guarantors in a violation of Regulation X of said Board or the Lenders Lender in a violation of Regulation U of said Board. In particular, without limitation of the foregoing, neither the Borrower nor the Guarantors will not use any part of the proceeds of the Loan to be made hereunder to acquire for itself or for any other person any publicly-held securities of any kind. The assets of the Borrower and the Guarantors do not and will not include any margin securities, and the Borrower and the Guarantors have has no present intention of acquiring any margin securities. As used in this Section 3.3(s3.3(j), the terms "margin security" and "purpose of purchasing or carrying" shall have the meanings assigned to them in the aforesaid Regulation U, and the term "publicly-held", in respect of securities, shall have the meaning assigned to it in Section 220.7(a) of Regulation T of said Board. If requested by the LendersLender, the Borrower will furnish to the Lenders Lender a statement or statements in conformity with the requirements of Federal Reserve Form U-1 referred to in said Regulation U.

Appears in 1 contract

Samples: Loan Agreement (Horizon Offshore Inc)

Compliance with Federal Reserve Board Regulations. Permit any No part of the proceeds of the Loan to any Advance, and no Letter of Credit, will be used, directly or indirectly, for the purpose of purchasing or carrying any margin security within the meaning of Regulation U of the Board of Governors of the Federal Reserve System, or for the purpose of purchasing or carrying or trading in any securities under such circumstances as to involve the Borrower or the Guarantors in a violation of Regulation X of said Board or the Lenders in a violation of Regulation U of said Board. In particular, without limitation of the foregoing, neither the Borrower nor the Guarantors any Guarantor will use any part of the proceeds of the Loan any Advance to be made hereunder to acquire for itself or for any other person any publicly-held securities of any kind. The assets of the Borrower and the Guarantors do not and will not include any margin securities, and the Borrower and the Guarantors have no present intention of acquiring any margin securities. As used in this Section 3.3(s)12.14, the terms "margin security" and "purpose of purchasing or carrying" shall have the meanings assigned to them in the aforesaid Regulation U, and the term "publicly-held", in respect of securities, shall have the meaning assigned to it in Section 220.7(a) of Regulation T of said Board. If requested by the Lendersany Lender, the Borrower will furnish to the Lenders such Lender a statement or statements in conformity with the requirements of Federal Reserve Form U-1 referred to in said Regulation U.

Appears in 1 contract

Samples: Credit Agreement (Friede Goldman Halter Inc)

Compliance with Federal Reserve Board Regulations. Permit any No part of the proceeds of the Loan to any Advance, and no Letter of Credit, will be used, directly or indirectly, for the purpose of purchasing or carrying any margin security within the meaning of Regulation U of the Board of Governors of the Federal Reserve System, or for the purpose of purchasing or carrying or trading in any securities under such circumstances as to involve the Borrower Borrowers or the Guarantors Guarantor in a violation of Regulation X of said Board or the Lenders Lender in a violation of Regulation U of said Board. In particular, without limitation of the foregoing, neither the Borrower Borrowers nor the Guarantors Guarantor will use any part of the proceeds of the Loan any Advance to be made hereunder to acquire for itself or for any other person any publicly-held securities of any kind. The assets of the Borrower Borrowers and the Guarantors Guarantor do not and will not include any margin securities, and the Borrower Borrowers and the Guarantors Guarantor have no present intention of acquiring any margin securities. As used in this Section 3.3(s)13.20, the terms "margin security" and "purpose of purchasing or carrying" shall have the meanings assigned to them in the aforesaid Regulation U, and the term "publicly-held", in respect of securities, shall have the meaning assigned to it in Section 220.7(a) of Regulation T of said Board. If requested by the LendersLender, the Borrower Borrowers will furnish to the Lenders Lender a statement or statements in conformity with the requirements of Federal Reserve Form U-1 referred to in said Regulation U.

Appears in 1 contract

Samples: Credit Agreement (Horizon Offshore Inc)

Compliance with Federal Reserve Board Regulations. Permit any No part of the proceeds of the Loan to any Advance, will be used, directly or indirectly, for the purpose of purchasing or carrying any margin security within the meaning of Regulation U of the Board of Governors of the Federal Reserve System, or for the purpose of purchasing or carrying or trading in any securities under such circumstances as to involve the Borrower or the Guarantors in a violation of Regulation X of said Board or the Lenders Lender in a violation of Regulation U of said Board. In particular, without limitation of the foregoing, neither the Borrower nor the Guarantors will use any part of the proceeds of the Loan any Advance to be made hereunder to acquire for itself or for any other person any publicly-held securities of any kind. The assets of the Borrower and the Guarantors do not and will not include any margin securities, and the Borrower and the Guarantors have no present intention of acquiring any margin securities. As used in this Section 3.3(s)12.19, the terms "margin security" and "purpose of purchasing or carrying" shall have the meanings assigned to them in the aforesaid Regulation U, and the term "publicly-held", in respect of securities, shall have the meaning assigned to it in Section 220.7(a) of Regulation T of said Board. If requested by the LendersLender, the Borrower will furnish to the Lenders Lender a statement or statements in conformity with the requirements of Federal Reserve Form U-1 referred to in said Regulation U.

Appears in 1 contract

Samples: Credit Agreement (Horizon Offshore Inc)

Compliance with Federal Reserve Board Regulations. Permit any No part of the proceeds of the Loan to any Advance will be used, directly or indirectly, for the purpose of purchasing or carrying any margin security within the meaning of Regulation U of the Board of Governors of the Federal Reserve System, or for the purpose of purchasing or carrying or trading in any securities under such circumstances as to involve the Borrower Borrowers or the Guarantors Guarantor in a violation of Regulation X of said Board or the Lenders Lender in a violation of Regulation U of said Board. In particular, without limitation of the foregoing, neither the Borrower Borrowers nor the Guarantors Guarantor will use any part of the proceeds of the Loan any Advance to be made hereunder to acquire for itself or for any other person any publicly-publicly- held securities of any kind. The assets of the Borrower Borrowers and the Guarantors Guarantor do not and will not include any margin securities, and the Borrower Borrowers and the Guarantors Guarantor have no present intention of acquiring any margin securities. As used in this Section 3.3(s)13.19, the terms "margin security" and "purpose of purchasing or carrying" shall have the meanings assigned to them in the aforesaid Regulation U, and the term "publicly-held", in respect of securities, shall have the meaning assigned to it in Section 220.7(a) of Regulation T of said Board. If requested by the Lenders, the Borrower will furnish to the Lenders a statement or statements in conformity with the requirements of Federal Reserve Form U-1 referred to in said Regulation U.Section

Appears in 1 contract

Samples: Credit Agreement (Horizon Offshore Inc)

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Compliance with Federal Reserve Board Regulations. Permit any No part of the proceeds of the Loan to any Advance, and no Letter of Credit, will be used, directly or indirectly, for the purpose of purchasing or carrying any margin security within the meaning of Regulation U of the Board of Governors of the Federal Reserve System, or for the purpose of purchasing or carrying or trading in any securities under such circumstances as to involve the Borrower Borrowers or the Guarantors Guarantor in a violation of Regulation X of said Board or the Lenders in a violation of Regulation U of said Board. In particular, without limitation of the foregoing, neither the Borrower Borrowers nor the Guarantors Guarantor will use any part of the proceeds of the Loan any Advance to be made hereunder to acquire for itself or for any other person any publicly-held securities of any kind. The assets of the Borrower Borrowers and the Guarantors Guarantor do not and will not include any margin securities, and the Borrower Borrowers and the Guarantors Guarantor have no present intention of acquiring any margin securities. As used in this Section 3.3(s)12.17, the terms "margin security" and "purpose of purchasing or carrying" shall have the meanings assigned to them in the aforesaid Regulation U, and the term "publicly-held", in respect of securities, shall have the meaning assigned to it in Section 220.7(a) of Regulation T of said Board. If requested by the Lendersany Lender, the Borrower Borrowers will furnish to the Lenders such Lender a statement or statements in conformity with the requirements of Federal Reserve Form U-1 referred to in said Regulation U.

Appears in 1 contract

Samples: Credit Agreement (Horizon Offshore Inc)

Compliance with Federal Reserve Board Regulations. Permit any No part of the proceeds of the Loan to any Advance will be used, directly or indirectly, for the purpose of purchasing or carrying any margin security within the meaning of Regulation U of the Board of Governors of the Federal Reserve System, or for the purpose of purchasing or carrying or trading in any securities under such circumstances as to involve the Borrower Borrowers or the Guarantors in a violation of Regulation X of said Board or the Lenders Banks in a violation of Regulation U of said Board. In particular, without limitation of the foregoing, neither the Borrower nor the Guarantors and neither Guarantor will use any part of the proceeds of the Loan any Advance to be made hereunder to acquire for itself or for any other person any publicly-held securities of any kind. The assets of the Borrower Borrowers and the Guarantors do not and will not include any margin securities, and the Borrower Borrowers and the Guarantors have no present intention of acquiring any margin securities. As used in this Section 3.3(s)12.15, the terms "margin security" and "purpose of purchasing or carrying" shall have the meanings assigned to them in the aforesaid Regulation U, and the term "publicly-held", in respect of securities, shall have the meaning assigned to it in Section 220.7(a) of Regulation T of said Board. If requested by the LendersAgents, the Borrower Borrowers will furnish to the Lenders Agents a statement or statements in conformity with the requirements of Federal Reserve Form U-1 referred to in said Regulation U.

Appears in 1 contract

Samples: Credit Facility Agreement (Ensco International Inc)

Compliance with Federal Reserve Board Regulations. Permit any No part of the proceeds of the Loan to will be used, directly or indirectly, for the purpose of purchasing or carrying any margin security within the meaning of Regulation U of the Board of Governors of the Federal Reserve System, or for the purpose of purchasing or carrying or trading in any securities under such circumstances as to involve the Borrower Borrowers or the Guarantors Guarantor in a violation of Regulation X of said Board or the Lenders in a violation of Regulation U of said Board. In particular, without limitation of the foregoing, neither the Borrower Borrowers nor the Guarantors Guarantor will use any part of the proceeds of the Loan to be made hereunder to acquire for itself or for any other person any publicly-held securities of any kind. The assets of the Borrower Borrowers and the Guarantors Guarantor do not and will not include any margin securities, and the Borrower Borrowers and the Guarantors Guarantor have no present intention of acquiring any margin securities. As used in this Section 3.3(s3.3(u), the terms "margin security" and "purpose of purchasing or carrying" shall have the meanings assigned to them in the aforesaid Regulation U, and the term "publicly-held", in respect of securities, shall have the meaning assigned to it in Section 220.7(a) of Regulation T of said Board. If requested by the Lenders, the Borrower Borrowers will furnish to the Lenders a statement or statements in conformity with the requirements of Federal Reserve Form U-1 referred to in said Regulation U.

Appears in 1 contract

Samples: Loan Agreement (Horizon Offshore Inc)

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