Common use of No Extension of Credit for Securities Clause in Contracts

No Extension of Credit for Securities. Borrower is not now, nor at any time has it been engaged principally, or as one of its important activities, in the business of extending or arranging for the extension of credit, for the purpose of purchasing or carrying any “margin stock” or “margin securities” within the meaning of Regulations U, G, T or X of the Board of Governors of the Federal Reserve System; nor will the proceeds of the Line of Credit be used by Borrower directly or indirectly, for such purposes.

Appears in 2 contracts

Samples: Demand Line of Credit Agreement (Artesian Resources Corp), Demand Line of Credit Agreement (Artesian Resources Corp)

AutoNDA by SimpleDocs

No Extension of Credit for Securities. Borrower is not now, nor at any time has it been engaged principally, or as one of its important activities, in the business of extending or arranging for the extension of credit, for the purpose of purchasing or carrying any margin stock” stock or margin securities” within the meaning of Regulations U, G, T or X of the Board of Governors of the Federal Reserve System; nor will the proceeds of the Line of Credit Loan be used by Borrower directly or indirectly, for such purposes.

Appears in 2 contracts

Samples: Credit and Security Agreement (Money Centers of America, Inc.), Credit Agreement (Hunt Corp)

No Extension of Credit for Securities. Borrower is not now, nor at any time has it been engaged principally, or as one of its important activities, in the business of extending or arranging for the extension of credit, for the purpose of purchasing or carrying any "margin stock" or "margin securities" within the meaning of Regulations U, G, T or X of the Board of Governors of the Federal Reserve System; nor will the proceeds of the Line of Credit RLOC be used by Borrower directly or indirectly, for such purposes.

Appears in 1 contract

Samples: Credit and Security Agreement (Gse Systems Inc)

No Extension of Credit for Securities. Borrower is Borrowers and their Subsidiaries are not now, nor at any time has it have they been engaged principally, or as one of its their respective important activities, in the business of extending or arranging for the extension of credit, for the purpose of purchasing or carrying any margin stock” stock or margin securities” within the meaning of Regulations U, G, T or X of the Board of Governors of the Federal Reserve System; nor will the proceeds of the Line of Credit Loan be used by any Borrower directly or indirectly, for such purposes.

Appears in 1 contract

Samples: Credit Agreement (David Bridal Inc)

No Extension of Credit for Securities. No Borrower is not now, nor at any time has it been engaged principally, or as one of its respective important activities, in the business of extending or arranging for the extension of credit, credit for the purpose of purchasing or carrying any margin stock” stock or margin securities” securities within the meaning of Regulations U, G, T or X the regulations of the Board of Governors of the Federal Reserve System; , nor will the proceeds of the Line of Credit Loan be used by Borrower any Borrower, directly or indirectly, for such purposespurposes except those permitted hereunder.

Appears in 1 contract

Samples: Credit Agreement (Delias Inc)

No Extension of Credit for Securities. Borrower is not now, nor at any time has it been engaged principally, or as one of its important activities, in the business of extending or arranging for the extension of credit, for the purpose of purchasing or carrying any “margin stock” or “margin securities” within the meaning of Regulations U, G, T or X of the Board of Governors of the Federal Reserve System; nor will the proceeds of the Line of Credit Facility be used by Borrower directly or indirectly, for such purposes.

Appears in 1 contract

Samples: Credit Agreement (Chesapeake Utilities Corp)

AutoNDA by SimpleDocs

No Extension of Credit for Securities. No Borrower or Subsidiary is not now, nor at any time has it been been, engaged principally, or as one of its important activities, in the business of extending or arranging for the extension of credit, for the purpose of purchasing or carrying any margin stock” stock or margin securities” within the meaning of Regulations U, G, T or X of the Board of Governors of the Federal Reserve System; nor will the proceeds of the Line of Credit Loan be used by any Borrower directly or indirectly, for such purposes.

Appears in 1 contract

Samples: Credit Agreement (Sunsource Inc)

No Extension of Credit for Securities. Borrower is not now, nor at any time has it been been, engaged principally, or as one of its important activities, principally in the business of extending or arranging for the extension of credit, credit for the purpose of purchasing or carrying any margin stock” stock or margin securities” within the meaning of Regulations U, G, T or X of the Board of Governors of the Federal Reserve System; nor and will not use the proceeds of the Line of Credit be used by Borrower Loan directly or indirectly, indirectly for such purposes.

Appears in 1 contract

Samples: Loan and Security Agreement (Cca Industries Inc)

No Extension of Credit for Securities. No Borrower is not now, nor ------------------------------------- at any time has it been engaged principally, or as one of its important principal activities, in the business of extending or arranging for the extension of credit, credit for the purpose of purchasing or carrying any margin stock” stock or margin securities” securities within the meaning of Regulations U, G, T or X the regulations of the Board of Governors of the Federal Reserve System; , nor will the proceeds of the Line of Credit Loan be used by Borrower any Borrower, directly or indirectly, for such purposespurposes except those permitted hereunder.

Appears in 1 contract

Samples: Credit Agreement (Zany Brainy Inc)

Time is Money Join Law Insider Premium to draft better contracts faster.