Proceeds of Loan. The proceeds of the Loan have not been and shall not be used to satisfy, in whole or in part, any debt owed or owing by the Mortgagor to Seller, except in connection with a refinanced Loan.
Proceeds of Loan. Permit the proceeds of the Advances to be used for any purpose other than those permitted under this Agreement.
Proceeds of Loan. Permit the proceeds of the Loan to be used for any purpose other than those permitted under this Agreement.
Proceeds of Loan. No part of the proceeds of the Loan will be used, directly or indirectly, for any payments to any governmental official or employee, political party, official of a political party, candidate for political office, or anyone else acting in an official capacity, in order to obtain, retain or direct business or obtain any improper advantage, in violation of the United States Foreign Corrupt Practices Act of 1977, as may be amended from time to time.
Proceeds of Loan. The proceeds of the Loans will be used solely by Borrower for the purposes set forth in Section 2.5.
Proceeds of Loan. Proceeds of the Loan shall be used only for the purposes of (i) Borrower's equity contribution to Isramco Energy; (ii) working capital and general corporate purposes; and (iii) refinancing of existing debt.
Proceeds of Loan. Proceeds of the Loan shall be used only for the purposes repayment of the outstanding loan to The Bank of Nova Scotia.
Proceeds of Loan. The proceeds of the Loan have not been and shall not be used to satisfy, in whole or in part, any debt owed or owing by the Mortgagor to Seller or any Affiliate or correspondent thereof unless such debt was originated more than 12 months prior to the origination of such Loan.
Proceeds of Loan. It is agreed and acknowledged that proceeds of the Prior Loan Agreements were used only for the purposes of (i) Borrower’s equity contribution to Isramco Energy, LLC and Isramco Resources, LLC, wholly owned subsidiaries of Borrower; (ii) working capital and general corporate purposes; and (iii) refinancing of existing debt.
Proceeds of Loan. Administrative Agent is authorized to deposit the proceeds of the Loan requested hereby to: .
