Common use of Proceeds of Loan Clause in Contracts

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.

Appears in 5 contracts

Samples: Term Loan Facility (United Maritime Corp), Facility Agreement (United Maritime Corp), Facility Agreement (United Maritime Corp)

AutoNDA by SimpleDocs
Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!