Common use of Initial Borrowing of Term Loans Clause in Contracts

Initial Borrowing of Term Loans. The proceeds of the initial Borrowing of Term Loans shall be used solely (i) to refinance a portion of the Purchase Price (as defined in the Executive Air Stock Purchase Agreement), including transaction and bridge financing costs; (ii) to pay fees payable on the date of the initial Term Loan Borrowing to the Lead Arrangers and the Administrative Agent; (iii) to make payment of the Debt Service Reserve Required Balance into the Debt Service Reserve Account as required hereunder; (iv) to pay or reimburse the Borrower for costs and expenses payable by the Borrower pursuant hereto in connection with the closing of the Loans; and (v) to pay other reasonable costs and expenses incurred by the Borrower in connection with the closing of the Loans.

Initial Borrowing of Term Loans. The proceeds of the initial Borrowing of Term Loans shall be used solely (i) to refinance a portion of certain Indebtedness incurred by NACH and MANA in connection with the Purchase Price (as defined in the Executive Air Stock Purchase Agreement), including transaction and bridge financing costsAcquisitions; (ii) to finance a one-time equity distribution to the Investor; (iii) to pay fees payable on the date of the initial Borrowing of Term Loan Borrowing Loans to the Lead Arrangers and the Administrative Agent; (iiiiv) to make payment of the Debt Service Reserve Required Balance into the Debt Service Reserve Account as required hereunder; (ivv) to pay or reimburse the Borrower for costs and expenses payable by the Borrower pursuant hereto in connection with the closing of the Loans; and (vvi) to pay other reasonable costs and expenses incurred by retain as cash on the books of the Borrower to pay for ongoing expenditures incurred in connection with the closing ordinary course of the Loansbusiness.