Common use of Nature of Advances Clause in Contracts

Nature of Advances. Each Lender represents and warrants to the Company, the Agent and the other Lenders that the Advances and the Notes to be delivered to it hereunder will evidence loans made in the ordinary course of its commercial banking business and will be acquired for itself for investment and not with a view to any distribution thereof, subject, nevertheless, to the disposition of its property being at all times within its control. The Agent may for all purposes treat the Lender to which any Note is issued as the holder of such Note unless the Agent shall have been notified in writing by such Lender of its sale or disposition of such Note and the name and address of the new holder.