Common use of Not a Purpose Credit Clause in Contracts

Not a Purpose Credit. The Borrower is not engaged in the business of extending credit for the purpose of purchasing or carrying "margin stock" (within the meaning of Regulation T or Regulation U), and no proceeds of any Advance, other than proceeds of Advances used to purchase shares of common stock of the Borrower to the extent permitted by clauses (iv) or (v) of Section 5.02(g) hereof, will be used to purchase or carry any margin stock or to extend ------- credit to others for the purpose of purchasing or carrying any margin stock; none of the Pledged Stock constitutes margin stock.

Appears in 2 contracts

Samples: Credit Agreement (Young Broadcasting Inc /De/), Credit Agreement (Young Broadcasting Inc /De/)

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Not a Purpose Credit. The Borrower is not engaged in the business of extending credit for the purpose of purchasing or carrying "margin stock" (within the meaning of Regulation T or Regulation U), and no proceeds of any Advance, other than proceeds of Advances used to purchase shares of common stock of the Borrower to the extent permitted by clauses (iv) or (v) of Section 5.02(g) hereof, will be used to purchase or carry any margin stock or to extend ------- credit to others for the purpose of purchasing or carrying any margin stock; none of the Pledged Stock constitutes margin stock.

Appears in 1 contract

Samples: Credit Agreement (Young Broadcasting Inc /De/)

Not a Purpose Credit. The Borrower is not engaged in the -------------------- business of extending credit for the purpose of purchasing or carrying "margin stock" (within the meaning of Regulation T G or Regulation U), and no proceeds of any Advance, other than proceeds of Advances used to purchase shares of common stock of the Borrower to the extent permitted by clauses (iv) or (v) of Section 5.02(g) hereof, will be used to purchase or carry any margin stock or to extend ------- credit to others for the purpose of purchasing or carrying any margin stock; none of the Pledged Stock constitutes margin stock.

Appears in 1 contract

Samples: Credit Agreement (Young Broadcasting Inc /De/)

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Not a Purpose Credit. The Borrower is not engaged in the business of extending credit for the purpose of purchasing or carrying "margin stockMARGIN STOCK" (within the meaning of Regulation T G or Regulation U), and no proceeds of any Advance, other than proceeds of Advances used to purchase shares of common stock of the Borrower to the extent permitted by clauses (iv) or (v) of Section 5.02(g5.02(G) hereof, will be used to purchase or carry any margin stock or to extend ------- credit to others for the purpose of purchasing or carrying any margin stock; none of the Pledged Stock constitutes margin stock.

Appears in 1 contract

Samples: Credit Agreement (Young Broadcasting Inc /De/)

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