Loan Usage Sample Clauses

Loan Usage. 4.1 The Total Principal of the Loan provided hereunder shall be used by Borrower for the operations of the Company, and Borrower shall in no event change the usage without the prior written consent by Lender. Borrower hereby covenants and agrees to contribute, within two (2) working days immediately following the funding of the Loan, the Total Principal of the Loan to the bank account of the Company.
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Loan Usage. 4.1 The full amount of the loan provided hereunder shall be used to increase the registered capital of the Company, and the Borrowers shall in no event change the usage without the prior written consent of the Lender. 4.2 The Borrowers shall cause the Company to complete the registration of the Company with the competent Administration Bureau of Industry and Commerce in respect of the increase in the registered capital of the Company within 30 business days upon receipt of the Loan hereunder, and such period may be prolonged upon the consent of the Lender.
Loan Usage. 2.1. The Borrowers may only apply the Loans hereunder towards further investment in the Domestic Company. The registered capital of the Domestic Company will be increased to Renminbi Sixty-Five Million (RMB65,000,000.00), Renminbi Fifty-Eight Million and Five Hundred Thousand (RMB58,500,000.00) and Renminbi Six Million and Five Hundred Thousand (RMB6,500,000.00) of which shall be contributed by Xxxx Xx and Xxxxx Xxx, respectively. Without prior written consent of the Lender, the Borrowers shall not apply any Loan for any other purpose.
Loan Usage. Article 1 The borrower and the lender agree: 1. The loan shall be only used for working capital/cash flow. 2. Without written consent from the lending bank, the borrower shall not use the loan for different usage. Chapter 3 Currency, Amount, Term, Transferring Method Article 2 The currency of the loan is Chinese Yuan. The amount of the loan is 2,400,000.00. Article 3 The term of the loan is 1 year, from July 12, 2010 to July 7, 2011. Article 4 When the Article 11 is fulfilled, the lending bank shall transfer the total amount of the loan to the borrower’s account by single transaction by August 11, 2010.
Loan Usage. Loan usage: The Loan usage is for the Borrower to buy the sold leased back asset from Tong Coal Zheneng Majialiang Coal Industry Company Limited. Without the Lender’s consent in writing, the Borrower shall not change the Loan usage, including but not limited to, for investments in stock and other securities, real estates, projects prohibited by any laws and rules, policy forbidden and disapproved projects and projects which are not supported by bank loans.
Loan Usage. The loan provided hereunder shall be used in the form of flowing cash; and the Parties agree that the Lender shall provide loan as working capital and to satisfy its working capital needs going forward, and the Borrower shall in no event change the usage without the written authorization by the Lender.
Loan Usage. 4.1 The full amount of the loan provided hereunder shall be used in the form of flowing cash for the purpose of its business operation, and shall the Borrower in no event change the usage without the prior written consent by Party B.
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Loan Usage. The Loan granted to Party B is for: 1. Payment of purchase price of goods; 2. - ; 3. - . Party A shall not be responsible as to the usage of the Loan by Party B. Party B shall not make payments from its bank account opened with Party A or through other bank accounts to invest in securities, make capital investments or invest in real estate, use the Loan to generate illegal income, use the Loan in the fields which is in breach of national laws and policies, use the Loan in the fields which banks are forbidden to participate or not supportive by banks, obtain funding by illegal means. Party B shall compensate Party A for its losses as a result of these acts.

Related to Loan Usage

  • Excess Usage If during a Billing Period, In Energy is greater than zero (0), then Excess Usage for that Billing Period will be calculated. If Excess Usage is greater than zero (0), then for the Facility and any secondary account at the conclusion of that Billing Period: (i) kilowatt-hour usage will equal the value of Excess Usage and (ii) Unused Credits are equal to zero (0). If Excess Usage is equal to zero (0), then for the Facility and secondary accounts at the conclusion of that Billing Period: (i) kilowatt-hour usage is equal to zero (0) and (ii) Unused Credits are reduced by the value of In Energy, determined for that Billing Period, and that reduced value, in accordance with paragraph (C) Unused Credits of this Article IV, will remain for possible future application.

  • FUNDING AVAILABILITY This Contract is contingent upon the continued availability of funding. If funds become unavailable through the lack of appropriations, legislative or executive budget cuts, amendment of the Appropriations Act, state agency consolidation or any other disruptions of current appropriations, DFPS will reduce or terminate this Contract.

  • Maximum Credit Patheon's liability for Active Materials calculated in accordance with this Section 2.2 for any Product in a Year will not exceed, in the aggregate, the Maximum Credit Value set forth in Schedule D to a Product Agreement.

  • Line of Credit Amount (a) During the availability period described below, the Bank will provide a line of credit to the Borrower. The amount of the line of credit (the “Facility No. 1 Commitment”) is Five Million and 00/100 Dollars ($5,000,000.00). (b) This is a revolving line of credit. During the availability period, the Borrower may repay principal amounts and reborrow them. (c) The Borrower agrees not to permit the principal balance outstanding to exceed the Facility No. 1

  • Leave Usage Full shift absences on vacation, sick leave, compensating time off, or holiday in lieu taken by employees on a scheduled twelve-hour workshift shall result in the deduction of twelve (12) hours from the employees’ accrued leave balances.

  • Undrawn Availability After giving effect to the initial Advances hereunder, Borrowers shall have Undrawn Availability of at least $10,000,000;

  • Non-Usage Fee The Borrower shall pay to the Bank a non-usage fee on the average daily unused portion of Facility A at a rate of 0.25% per annum, payable in arrears within fifteen (15) days of the end of each calendar quarter for which the fee is owing.

  • Word Usage Words used in the masculine shall apply to the feminine where applicable, and wherever the context of this Agreement dictates, the plural shall be read as the singular and the singular as the plural.

  • Credit Limit The following criteria constitute Duke Energy Ohio’s creditworthiness requirements for the SSO Suppliers to cover the Total Exposure Amount: (a) For SSO Suppliers to be granted a Credit Limit without delivering a Total Exposure Amount Guaranty or other Performance Assurances acceptable to Duke Energy Ohio, in the case of an SSO Supplier organized under the laws of the United States, the SSO Supplier must (1) be rated by S&P, Moody’s or Fitch, and (2) have a minimum senior unsecured debt rating (or, if unavailable, corporate or issuer rating) equal to the Minimum Rating. If the SSO Supplier is rated by only two rating agencies and the ratings are split, the lower rating will be used. If the SSO Supplier is rated by three rating agencies and the ratings are split, the lower of the two highest ratings will be used; provided that, in the event that the two highest ratings are common, such common rating will be used. If the SSO Supplier and an Affiliate(s) are both winning bidders in the Solicitation for the provision of SSO Supply, then the SSO Supplier or its Guarantor, as applicable, and the Affiliate(s) will proportionally share the maximum level of the Credit Limit using the highest rating as determined for the SSO Supplier or its Guarantor, as applicable, and the Affiliate(s). The maximum level of the Credit Limit to cover the Total Exposure Amount will be determined based on the following table: Credit Rating of the SSO Supplier or its Guarantor Maximum Credit Limit (calculated as the lesser of the percentage of TNW and the applicable Credit Limit Cap below) S&P Xxxxx’x Fitch Percentage of TNW Credit Limit Cap A- and above A3 and above A- and above 16% $60,000,000 BBB+ Baa1 BBB+ 10% $50,000,000 BBB Baa2 BBB 10% $40,000,000 BBB- Baa3 BBB- 8% $30,000,000 BB+ Ba1 BB+ 2% $5,000,000 BB Ba2 BB 1% $2,500,000 BB- and below Ba3 and below BB- and below 0% $0 The SSO Supplier will be required to post cash or a Letter of Credit for the Margin due Duke Energy Ohio as set forth in Section 5.7 of this Agreement. (b) For SSO Suppliers delivering a Total Exposure Amount Guaranty, in the case of a Guarantor organized under the laws of the United States, the maximum level of the Credit Limit to cover the Total Exposure Amount that could be granted based on the Total Exposure Amount Guaranty will be determined in accordance with subsection (a) above, with reference to the credit rating of the Guarantor, except that the Credit Limit granted to the SSO Supplier will not exceed the amount of the Total Exposure Amount Guaranty. (c) For an SSO Supplier or Guarantor, if applicable, that has not been organized under the laws of the United States, the following standards will apply: i. the SSO Supplier must supply such evidence of creditworthiness as to provide Duke Energy Ohio with comparable assurances of creditworthiness as applicable above for SSO Suppliers that have been organized under the laws of the United States; or ii. if the SSO Supplier is providing a Total Exposure Amount Guaranty, the Guarantor of an SSO Supplier must supply such evidence of creditworthiness as to provide Duke Energy Ohio with comparable assurances of creditworthiness as applicable above for Guarantors of SSO Suppliers that have been organized under the laws of the United States. Duke Energy Ohio may reject such Guarantors that do not meet the creditworthiness requirements. (d) All SSO Suppliers or Guarantors of SSO Suppliers, if applicable, that have not been organized under the laws of the United States must, in addition to all documentation required elsewhere in this Section 5.6, supply the following to Duke Energy Ohio: i. For an SSO Supplier: (1) a legal opinion of counsel qualified to practice in the foreign jurisdiction in which the SSO Supplier is organized that (A) the SSO Supplier is duly incorporated and existing in such foreign jurisdiction; (B) this Agreement is the binding and enforceable obligation of the SSO Supplier in such foreign jurisdiction and does not violate any local law or the SSO Supplier’s organizational or governing documents; and (C) all authorizations, approvals, consents, licenses, exemptions or other requirements of governmental, judicial or public bodies in such foreign jurisdiction have been obtained, and all execution formalities have been duly completed, necessary for the enforcement and validity of this Agreement and the performance by the SSO Supplier of its obligations hereunder; and (2) the sworn certificate of the corporate secretary (or similar officer) of such SSO Supplier that the Person executing this Agreement on behalf of the SSO Supplier has the authority to execute this Agreement and that the governing board of such SSO Supplier has approved the execution of this Agreement. Duke Energy Ohio will have full discretion, without liability or recourse to the SSO Supplier, to evaluate the sufficiency of the documents submitted by the SSO Supplier; or ii. For the Guarantor of an SSO Supplier: (1) a legal opinion of counsel qualified to practice in the foreign jurisdiction in which the Guarantor is organized that (A) the Guarantor is duly incorporated and existing in such foreign jurisdiction; (B) the Total Exposure Amount Guaranty is the binding and enforceable obligation of the Guarantor in such foreign jurisdiction and does not violate any local law or the Guarantor’s organizational or governing documents; and

  • Loan Amount 5. ACCOUNT NAME(S) ............................................................................................................................................................................. BANK NAME / BRANCH ..................................................................................................................................................................

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