Limitations of Use of Loan Proceeds Sample Clauses

Limitations of Use of Loan Proceeds. The Credit Parties in the applicable Fund Group shall not use the proceeds of any Loan for the payment to any applicable Investor of any Distribution; provided that this clause shall not restrict or prohibit any Borrower from making any Distributions in accordance with Section 9.17, so long as such Distributions are not paid using the proceeds of any Loan.
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Limitations of Use of Loan Proceeds. No Credit Party shall use the proceeds of any Loan for the payment to any Investor of any Distribution.
Sample 1Sample 2See All (4)
Limitations of Use of Loan Proceeds. The Credit Parties shall not use the proceeds of any Loan or Letter of Credit for the payment to Investors of Distributions to the extent that the aggregate amount of such proceeds used for the payment of Distributions exceeds the aggregate amount of Capital Contributions received from the Investor as of such Distribution date.
Sample 1
Limitations of Use of Loan Proceeds. Such Borrower shall not use the proceeds of any Loan for the payment to any Investor of any Distribution.
Sample 1

Related to Limitations of Use of Loan Proceeds

  • Use of Loan Proceeds The Borrower shall use the credit extended under this Agreement solely for the purposes set forth in, or otherwise permitted by, Section 6.4 hereof.

  • Applications of Proceeds The proceeds of any such sale, lease or other disposition of the Collateral hereunder shall be applied first, to the expenses of retaking, holding, storing, processing and preparing for sale, selling, and the like (including, without limitation, any taxes, fees and other costs incurred in connection therewith) of the Collateral, to the reasonable attorneys' fees and expenses incurred by the Secured Party in enforcing its rights hereunder and in connection with collecting, storing and disposing of the Collateral, and then to satisfaction of the Obligations, and to the payment of any other amounts required by applicable law, after which the Secured Party shall pay to the Company any surplus proceeds. If, upon the sale, license or other disposition of the Collateral, the proceeds thereof are insufficient to pay all amounts to which the Secured Party is legally entitled, the Company will be liable for the deficiency, together with interest thereon, at the rate of 15% per annum (the "Default Rate"), and the reasonable fees of any attorneys employed by the Secured Party to collect such deficiency. To the extent permitted by applicable law, the Company waives all claims, damages and demands against the Secured Party arising out of the repossession, removal, retention or sale of the Collateral, unless due to the gross negligence or willful misconduct of the Secured Party.

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