Proceeds of the Loans. The Borrower will not permit the proceeds of the Loans to be used for any purpose other than those permitted by Section 7.
Proceeds of the Loans. Borrower shall use the proceeds of the Loans for general corporate purposes.
Proceeds of the Loans. The Borrower shall apply the --------------------- proceeds of the Loan solely for the purposes set forth in Section 2.2.
Proceeds of the Loans. On the Initial Borrowing Date, the Administrative Agent shall have received confirmation in writing, acceptable to the Administrative Agent, as to the manner in which the proceeds of the Loans will be held pending proration of the shares of Essex International common stock accepted in the Tender Offer.
Proceeds of the Loans. The Company shall use the proceeds of the Term Loans to finance, in part, the Refinancing. The Company shall use the proceeds of Revolving Credit Loans solely for (i) making payments to an Issuing Lender to reimburse the Issuing Lender for drawings made under the Letters of Credit, (ii) repaying Swing Line Loans and Revolving Credit Loans and (iii) financing other working capital or general corporate purposes of the Company or any of its Subsidiaries after the Spin-Off. Notwithstanding the foregoing, no Credit Party will request any Loans, and no Credit Party shall use, and shall procure that their Subsidiaries and their respective directors, officers, employees and, to the knowledge of any Credit Party, agents shall not use, the proceeds of any Loan (A) in furtherance of an offer, payment, promise to pay, or authorization of the payment or giving of money, or anything else of value, to any Person in violation of any Anti-Corruption Laws, (B) for the purpose of funding, financing or facilitating any activities, business or transaction of or with any Sanctioned Person, or in any Sanctioned Country, or (C) in any manner that would result in the violation of any Sanctions applicable to any party hereto.
Proceeds of the Loans. Not later than the Business Day immediately following the Closing Date, the Borrower will contribute to the capital of Key Energy Services, LLC the proceeds of the Loans not otherwise applied as permitted under Section 2.3(a) and (b), which proceeds Key Energy Services, LLC shall deposit and at all times maintain among account #5S501A74—426807 at Xxxxxxx Lynch, Pierce, Xxxxxx & Xxxxx Incorporated and account #426807 at Bank of America, N.A. (collectively, the “TL Proceeds and Priority Collateral Account”), pending application thereof in any manner permitted under this Agreement. The TL Proceeds and Priority Collateral Account and funds on deposit therein shall at all times be subject to a Deposit Account Control Agreement and a perfected, first-priority Lien in favor of Agent. Funds deposited in the TL Proceeds and Priority Collateral Account on the Closing Date, together with proceeds of any Incremental Term Loans, identifiable proceeds of Asset Dispositions of Term Priority Collateral, and identifiable proceeds of insurance resulting from casualty of the Term Priority Collateral and of awards arising from condemnation of the Term Priority Collateral to the extent deposited in the TL Proceeds and Priority Collateral Account, (i) may not be commingled with any other funds and (ii) shall at all times remain segregated funds, separate and apart from any other funds of the Borrower and its Subsidiaries.
Proceeds of the Loans. The proceeds of the Loans shall be used for Borrower's general corporate and working capital needs. No portion of the proceeds of any Loan may be used by the Borrower in any manner which would cause such Loan or the application of the proceeds thereof to violate any of Regulations T, U or X of the Board of Governors of the Federal Reserve System.
Proceeds of the Loans. The proceeds of the Term Loans shall be used by the Borrower only to finance the Acquisition, including payment of the Acquisition price and related fees and costs of the Acquisition. The proceeds of the Revolving Credit Loans may be utilized, in a single drawing made on the Closing Date of no more than $12 million, to fund the Acquisition price and related fees and costs; and otherwise the proceeds of Revolving Credit Loans shall be used first to pay Indebtedness as contemplated in SECTION 4.01(i), and thereafter to finance the ongoing working capital requirements and other general corporate purposes of the Borrower and its Subsidiaries; provided, however, that Borrower may not use the proceeds of any Loans to make advances to or investments in any - 50 - 51 of its Subsidiaries except as permitted pursuant to SECTION 6.06(E).
Proceeds of the Loans. The Loan Parties will not permit the proceeds of the Loans to be used for any purpose other than those permitted by Section 7.23. No Loan Party nor any Person acting on behalf of any Loan Party has taken or will take any action which causes any of the Loan Documents to violate Regulations T, U or X or any other regulation of the Board or to violate Section 7 of the Securities Exchange Act of 1934 or any rule or regulation thereunder, in each case as now in effect or as the same may hereinafter be in effect. If requested by the Agent or the Requisite Lenders, the Borrower will furnish to the Agent and each Lender FR Form U‑1 or such other form referred to in Regulation U, Regulation T or Regulation X of the Board, as the case may be. The Loan Parties shall not use, and shall ensure that their Subsidiaries and their respective directors, officers, employees and agents shall not use, the proceeds of any Loan:
(a) in furtherance of an offer, payment, promise to pay, or authorization of the payment or giving of money, or anything else of value, to any Person in violation of any Anti‑Corruption Laws,
(b) for the purpose of funding, financing or facilitating any activities, business or transaction of or with any Sanctioned Person, or in any Sanctioned Country to the extent such activities, businesses or transaction would be prohibited by Sanctions if conducted by a corporation incorporated in the United States or,
(c) in any manner that would result in the violation of any Sanctions applicable to any party hereto.
Proceeds of the Loans. The principal amount of each Loan shall be disbursed to the Borrower on the date of the initial borrowing thereof in immediately available funds in United States dollars to the bank account of the Borrower specified by the Borrower to the Bank at the time of the borrowing.
