Common use of Covered Transactions Clause in Contracts

Covered Transactions. The Borrower shall not use the proceeds of any Loan in a manner that would cause such credit extension to become a “covered transaction” as defined in Section 23A of the Federal Reserve Act (12 U.S.C. § 371c) and the Federal Reserve Board’s Regulation W (12 C.F.R. Part 223), including any transaction where the proceeds of any Loan are used for the benefit of, or transferred to, an affiliate of a Lender.

Covered Transactions. The Borrower shall not use the proceeds of any Loan Advance in a manner that would cause such credit extension to become a “covered transaction” as defined in Section 23A of the Federal Reserve Act (12 U.S.C. § 371c) and the Federal Reserve Board’s Regulation W (12 C.F.R. Part 223), including any transaction where the proceeds of any Loan Advance are used for the benefit of, or transferred to, an affiliate Affiliate of a Lender.

Covered Transactions. The Borrower shall not use the proceeds of any Loan Advance in a manner that would cause such credit extension to become a “covered transaction” as defined in Section 23A of the Federal Reserve Act (12 U.S.C. § 371c) and the Federal Reserve Board’s Regulation W (12 C.F.R. Part 223), including any transaction where the proceeds of any Loan Advance are used for the benefit of, or transferred to, an affiliate Affiliate of a Lender.. USActive 52762757.1552762757.22 157

Covered Transactions. The Borrower shall not use the proceeds of any Loan in a manner that would cause such credit extension to become a “covered transaction” as defined in Section 23A of the Federal Reserve Act (12 U.S.C. § 371c) and the Federal Reserve FRS Board’s Regulation W (12 C.F.R. Part 223), including any transaction where the proceeds of any Loan are used for the benefit of, or transferred to, an affiliate of a Lender.