Common use of Proceeds of Note Clause in Contracts

Proceeds of Note. The Borrower will not permit the proceeds of the Note to be used for any purpose other than those permitted by Section 7.

Appears in 3 contracts

Sources: Credit Agreement (Edge Petroleum Corp), Credit Agreement (Midcoast Energy Resources Inc), Credit Agreement (Midland Resources Inc /Tx/)

Proceeds of Note. The Borrower Borrowers will not permit the proceeds of the Note to be used for any purpose other than those permitted by Section 7.

Appears in 2 contracts

Sources: Credit Agreement (Transcoastal Marine Services Inc), Credit Agreement (Transcoastal Marine Services Inc)

Proceeds of Note. The Borrower will not permit the proceeds of the Note to be used for any purpose other than those permitted by Section 7.as provided in subsection 6(l) above;

Appears in 1 contract

Sources: Loan and Pledge Agreement (Valhi Inc /De/)

Proceeds of Note. The Borrower will not permit the proceeds of the Note to be used for any purpose other than those permitted by Section 73.13 hereof.

Appears in 1 contract

Sources: Loan Agreement (Newmark Homes Corp)

Proceeds of Note. The Borrower will not permit the proceeds of the Note to be used for any purpose purposes other than those permitted by Section 73.12 hereof.

Appears in 1 contract

Sources: Loan Agreement (Gainsco Inc)

Proceeds of Note. The Borrower will not permit the proceeds of the Note to be used for any purpose other than those permitted by Section 73.13.

Appears in 1 contract

Sources: Construction Loan Agreement (Newmark Homes Corp)