Common use of Prohibition on Financing Certain Facilities Clause in Contracts

Prohibition on Financing Certain Facilities. The Company will not use any portion of the proceeds of the Bonds to provide any portion of the Project Facilities to be used for a private or commercial golf course, country club, massage parlor, tennis club, skating facility (including roller skating, skateboard and ice skating), racquet sports facility (including any handball or racquetball court), hot tub facility, suntan facility or racetrack. The Company will not use any proceeds of the Bonds to provide any airplane, any sky box or other private luxury box, any health club facility, any facility primarily used for gambling, or any store the principal business of which is the sale of alcoholic beverages for consumption off premises.

Appears in 6 contracts

Samples: Loan Agreement (Delmarva Power & Light Co /De/), Exempt Facilities Loan Agreement (Allegheny Energy, Inc), Exempt Facilities Loan Agreement (PPL Electric Utilities Corp)

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Prohibition on Financing Certain Facilities. The Company ------------------------------------------- Borrower will not use any portion of the proceeds of the Bonds to provide any portion of the Project Facilities to be used for a private or commercial golf course, country club, massage parlor, tennis club, skating facility (including roller skating, skateboard and ice skating), racquet sports facility (including any handball or racquetball court), hot tub facility, suntan facility or racetrack. The Company Borrower will not use any proceeds of the Bonds to provide any airplane, any sky box or other private luxury box, any health club facility, any facility primarily used for gambling, or any store the principal business of which is the sale of alcoholic beverages for consumption off premises.

Appears in 1 contract

Samples: Loan Agreement (Innovative Solutions & Support Inc)

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