Prohibited Use of Proceeds. Each Borrower shall not request any Loan, and each Borrower shall not, directly or indirectly, use, and shall procure that its Subsidiaries and its or their respective directors, officers, employees and agents shall not use, the proceeds of any Loan, or lend, contribute or otherwise make available such proceeds to any Person (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 by any Person, including Sanctions applicable to any party hereto.
Prohibited Use of Proceeds. The Borrowers shall not, and shall not suffer or permit any Subsidiary to, use any portion of the Loan proceeds, directly or indirectly, (i) to purchase or carry Margin Stock, (ii) to repay or otherwise refinance indebtedness of the Borrower or others incurred to purchase or carry Margin Stock, (iii) to extend credit for the purpose of purchasing or carrying any Margin Stock, or (iv) to acquire any security in any transaction that is subject to Section 13 or 14 of the Exchange Act, (v) to enter into or consummate any Acquisition except in accordance with this Agreement; or (vi) for the direct or indirect benefit, financial or otherwise, of an Excluded Subsidiary or for an Acquisition of an Excluded Subsidiary.
Prohibited Use of Proceeds. Unless and to the extent provided in the DIP Order or Section 2.8, the Borrowers will not, and will not permit any Borrower (a) to, use any cash or Cash Equivalents (including any proceeds of the Loans) to fund any objection, proceeding or other litigation (i) against the Administrative Agent or the Lenders, (ii) challenging the validity, perfection, priority, extent or enforceability of the Liens or security interests granted to the Administrative Agent or the Lenders or (iii) challenging, disputing or objecting to the claims of the Administrative Agent or the Lenders or (b) to use the proceeds of any Loan to (i) repay or prepay any of the Debt under the Prepetition ABL Credit Documents or the ABL DIP Credit Documents (including any interest, fees, costs and expenses, tax or indemnification obligations), (ii) any Taxes incurred upon or as a result of the Disposition of the ABL DIP Credit Priority Collateral or (iii) affirmatively commencing or supporting, or paying any professional fees incurred in connection with, any adversary proceeding, motion or other action that seeks to challenge, contest or otherwise seek to impair or object to the validity, extent, enforceability or priority of the Liens, claims or rights in favor of the Agent or the Lender (or any of their affiliates).
Prohibited Use of Proceeds. The Company shall not, nor permit any of its Subsidiaries to, use any proceeds from the sale of the Note hereunder, directly or indirectly, for the purposes of purchasing or carrying any "margin securities" within the meaning of Regulations T, U, or X promulgated by the Board of Governors of the Federal Reserve Board or for the purpose of arranging for the extension of credit secured, directly or indirectly, in whole or in part by collateral that includes any "margin securities."
Prohibited Use of Proceeds. Such Fund shall not request any Loan, and such Fund shall not use, and shall procure that its directors, trustees, 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, or (C) in any manner that such Borrower or its Funds knows would result in the violation of any Sanctions applicable to any party hereto.
Prohibited Use of Proceeds. Unless and to the extent provided in the Interim Order or Final Order, as applicable, no DIP Loan Party shall (a) use any cash or cash equivalents (including any proceeds of the DIP Loans) to fund any objection, proceeding, or other litigation (i) against the Agent or any of the DIP Lenders (in their capacities as such or as Prepetition noteholders or equity investors in any DIP Loan Party) or any of their respective Affiliates, (ii) challenging the validity, perfection, priority, extent, or enforceability of the DIP Liens or any other Lien or security interest granted to the Agent or the DIP Lenders or any of their respective Affiliates, or (iii) challenging, disputing or objecting to the claims of the Agent or the DIP Lenders or any other DIP Obligation, as to the validity, extent, enforceability or priority of any such claim, (b) use the proceeds of any DIP Loan to commence or support, or pay any professional fees incurred in connection with, any adversary proceeding, motion, or other action that seeks to challenge, contest, or otherwise seek to impair or object to the validity, extent, enforceability or priority of the DIP Liens, claims with respect to the DIP Obligations, or rights in favor of the Agent or the DIP Lenders (in their capacities as such or as Prepetition noteholders or equity investors in any DIP Loan Party) or any of their respective Affiliates, or (c) to pay any Prepetition obligation unless consented to by the Required DIP Lenders or pursuant to an order entered by the Bankruptcy Court after notice and a hearing.
Prohibited Use of Proceeds. The proceeds of the Agency Loan shall not be used for Project reserve accounts, monitoring, or servicing and origination fees, or for expenditures incurred more than one year after the issuance of the Release of Construction Covenants. 203. Residual Receipts Payments. Developer shall annually, on or before March 31, commencing in the year after the year in which the final certificate of occupancy for the Project is issued, submit to Agency the Annual Financial Statement for the prior year (including a Residual Receipts report which shall be a part of the Annual Financial Statement) which shall provide the basis for Developer’s payment of Residual Receipts, if any, to Agency for that year. Residual Receipts shall be calculated based upon such Residual Receipts report, subject to Section 203.1. Residual Receipts payments shall be paid to Agency annually not later than March 31, until the Maturity Date under the Agency Loan Note, at which time no further Residual Receipts payments will be due but the entire principal amount of the Agency Loan shall be paid in full by Developer to Agency.
Prohibited Use of Proceeds. The proceeds of the Authority Loan shall not be used for Project reserve accounts, monitoring, or servicing and origination fees, or for expenditures incurred more than one year after the issuance of the Release of Construction Covenants.
Prohibited Use of Proceeds. The Company will not, directly or indirectly, use the proceeds of the Offering, or lend, contribute or otherwise make available such proceeds to any subsidiary, joint venture partner or other person: (i) to fund or facilitate any unauthorized activities or business of or with any person that, at the time of such funding or facilitation, is the subject of Sanctions, or in any Sanctioned Territory; or (ii) in any other manner that will result in a violation of Sanctions by any person (including any person participating in the Offering, whether as underwriter, advisor, investor or otherwise).
Prohibited Use of Proceeds. Each Borrower shall not request any Loan, and each Borrower shall not, directly or indirectly, use, and shall procure that its Subsidiaries and its or their respective directors, officers, employees and agents shall not use, the proceeds of any Loan, or lend, contribute or otherwise make available such proceeds to any Person (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 by any Person, including Sanctions applicable to any party hereto.
(l) Section 7(c) of the New Credit Agreement is hereby amended by deleting such section in its entirety and inserting in lieu thereof the following:
