Purpose and Regulation U. (a) Subject to the other provisions in the Credit Documents, including, without limitation, clause (b) below, the proceeds of all Borrowings under the PMC Revolving Facility will be used either (i) to finance PMC’s Mortgage Loan origination, (ii) to finance PMC’s Commercial Loan origination, or (iii) for general corporate purposes. Subject to the other provisions in the Credit Documents, including, without limitation, clause (b) below, the proceeds of all Borrowings under the First Western Revolving Facility will be used either (x) to finance First Western’s Commercial Loan origination under the 7(a) Loan Program of the U.S. Small Business Administration or (y) for general corporate purposes.
(b) The proceeds of the PMC Revolving Facility will be used by PMC solely for the purposes specified in Section 6.1(a). The proceeds of the First Western Revolving Facility will be used by First Western solely for the purposes specified in Section 6.1(a). None of such proceeds will be used for the purpose of purchasing or carrying any “margin stock” as defined in Regulation U, or for the purpose of reducing or retiring any indebtedness which was originally incurred to purchase or carry a margin stock or for any other purpose which might constitute this transaction a “purpose credit” within the meaning of such Regulation U. No Company is engaged in the business of extending credit for the purpose of purchasing or carrying margin stocks. No Company, nor any Person acting on behalf of any Company, has taken or will take any action that might cause the Notes or any of the other Credit Documents, including this Credit Agreement, to violate Regulation U or any other regulations of the Board of Governors of the Federal Reserve System or to violate Section 7 of the Securities Exchange Act of 1934, as amended, or any rule or regulation thereunder, in each case as now in effect or as the same may hereinafter be in effect.
(c) No portion of any advance or loan made hereunder shall be used directly or indirectly to purchase ineligible securities, as defined by applicable regulations of the Federal Reserve Board, underwritten by any affiliate of JPMorgan Chase & Co. or any affiliate of any other Lender during the underwriting period and for 30 days thereafter.
Purpose and Regulation U. (a) Subject to the other provisions in the Credit Documents, including, without limitation, clause (b) below, the proceeds of all Borrowings will be used to either (i) finance Borrower's Mortgage Loan origination or (ii) finance Borrower's purchase of Qualifying Real Estate. The initial advances under this agreement will also be used to retire certain bridge loan indebtedness owing under the Existing Agreement.
(b) The proceeds of the Revolving Facility will be used by Borrower solely for the purposes specified in Section 7.1(a). None of such proceeds will be used for the purpose of purchasing or carrying any "margin stock"as defined in Regulation U, or for the purpose of reducing or retiring any indebtedness which was originally incurred to purchase or carry a margin stock or for any other purpose which might constitute this transaction a "purpose credit" within the meaning of such Regulation U. No Company is engaged in the business of extending credit for the purpose of purchasing or carrying margin stocks. No Company, nor any Person acting on behalf of any Company, has taken or will take any action that might cause the Notes or any of the other Credit Documents, including this Credit Agreement, to violate Regulation U or any other regulations of the Board of Governors of the Federal Reserve System or to violate Section 7 of the Securities Exchange Act of 1934, as amended, or any rule or regulation thereunder, in each case as now in effect or as the same may hereinafter be in effect.
(c) No portion of any advance or loan made hereunder shall be used directly or indirectly to purchase ineligible securities, as defined by applicable regulations of the Federal Reserve Board, underwritten by any affiliate of Banc One Corporation or any affiliate of any other Lender during the underwriting period and for 30 days thereafter.
Purpose and Regulation U. (a) Borrower will use the Borrowing to repay the term facility under the Senior Revolving Credit Agreement, for general corporate purposes, for the Restricted Companies’ working capital, for acquisition and development of Mineral Interests and for other general corporate purposes.
(b) No Company is engaged principally, or as one of its important activities, in the business of extending credit for the purpose of purchasing or carrying any “margin stock” within the meaning of Regulation U of the Board of Governors of the Federal Reserve System, as amended. No part of the proceeds of the Borrowing will be used, directly or indirectly, for a purpose that violates any Law, including, without limitation, Regulation U.
Purpose and Regulation U. (a) Borrower will use the proceeds of the Revolving Facility (including the LC Subfacility and the Swing-Line Subfacility) for, (i) the working capital and general corporate purposes of itself and any Company that has executed a Guaranty, and (ii) acquisitions that are permitted under SECTION 9.
(b) No Company is engaged principally, or as one of its important activities, in the business of extending credit for the purpose of purchasing or carrying any "margin stock" within the meaning of Regulation U of the Board of Governors of the Federal Reserve System, as amended. No part of the proceeds of any LC draft or drawing or Borrowing will be used, directly or indirectly, for a purpose that violates any Law, including, without limitation, Regulation U. CREDIT AGREEMENT 29 36
Purpose and Regulation U. Borrowers will use LCs and BGs for general ------------------------ corporate purposes and the proceeds of their respective Borrowings solely for their respective working capital and general corporate purposes. No Company is engaged principally, or as one of its important activities, in the business of extending credit for the purpose of purchasing or carrying any "margin stock" within the meaning of Regulation U of the Board of Governors of the Federal Reserve System, as amended. No part of the proceeds of any LC draft or drawing or Borrowing will be used, directly or indirectly, for a purpose that violates any Governmental Requirement, including, without limitation, Regulation U.
Purpose and Regulation U. (a) Borrower will use LCs for general corporate purposes and the proceeds of the Revolving Facility (OTHER THAN the LC Subfacility) for (i) refinancing the Refinanced Debt, (ii) the Restricted Companies' working capital and general corporate purposes, (iii) Capital Expenditures, and (iv) investments, purchase prices, payment of Funded Debt, or any combination of them in connection with Permitted Acquisitions.
(b) No Company is engaged principally, or as one of its important activities, in the business of extending credit for the purpose of purchasing or carrying any "MARGIN STOCK" within the meaning of REGULATION U of the Board of Governors of the Federal Reserve System, as amended. No part of the proceeds of any LC draft or drawing or Borrowing will be used, directly or indirectly, for a purpose that violates any Law, including, without limitation, REGULATION U.
Purpose and Regulation U. (a) Borrower will use LCs for general corporate purposes and the proceeds of the Revolving Facility for the Restricted Companies’ working capital, for acquisition and development of Mineral Interests and for other general corporate purposes.
(b) No Company is engaged principally, or as one of its important activities, in the business of extending credit for the purpose of purchasing or carrying any “margin stock” within the meaning of Regulation U of the Board of Governors of the Federal Reserve System, as amended. No part of the proceeds of any LC draft or drawing or Borrowing will be used, directly or indirectly, for a purpose that violates any Law, including, without limitation, Regulation U.
Purpose and Regulation U. 14 Credit Agreement ----------------
Purpose and Regulation U. (a) Borrower will use LCs for general corporate purposes and the proceeds of the (i) Revolving Facility for the Restricted Companies’ working capital, for acquisition and development of Mineral Interests and for other general corporate purposes and (ii) Term Facility for the exploration, development and exploitation of oil and gas, principally for its drilling activities in Rxxx and Panola Counties, Texas and Caddo and DeSoto Parishes, Louisiana.
(b) No Company is engaged principally, or as one of its important activities, in the business of extending credit for the purpose of purchasing or carrying any “margin stock” within the meaning of Regulation U of the Board of Governors of the Federal Reserve System, as amended. No part of the proceeds of any LC draft or drawing or Borrowing will be used, directly or indirectly, for a purpose that violates any Law, including, without limitation, Regulation U.
Purpose and Regulation U. (a) Subject to the other provisions in the Credit Documents, including clause (b) below, initially, the Note delivered hereunder represents the renewal and replacement of the Revolving Notes and Term Notes under the Prior Credit Agreement, and the proceeds of any future borrowings hereunder will be used for general corporate purposes, working capital uses in the ordinary course of business and permitted stock repurchases.
(b) None of the proceeds of the Revolving Facility will be used for the purpose of purchasing or carrying any "margin stock"as defined in Regulation U of the Board of Governors of the Federal Reserve System (12 C.F.R. Part 221), or for the purpose of reducing or retiring any indebtedness which was originally incurred to purchase or carry a margin stock or for any other purpose which might constitute this transaction a "purpose credit" within the meaning of such Regulation U. No Company is engaged in the business of extending credit for the purpose of purchasing or carrying margin stocks. No Company, nor any Person acting on behalf of any Company, FIRST AMENDED AND RESTATED CREDIT AGREEMENT Page 41 AMERICAN NATIONAL BANK and HARRXX XXXK -- ULTRAK OPERATING, L.P. 54 has taken or will take any action that might cause the Notes or any other of the Credit Documents, including this Agreement, to violate Regulations U or any other regulations of the Board of Governors of the Federal Reserve System 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. For the avoidance of doubt, no proceeds of the Revolving Facility or Term Loan may be used to purchase any securities, including without limitation, any of the Permitted Investments described in clauses (f) through (h) of Section 9.7.
(c) No portion of any advance or loan made hereunder shall be used directly or indirectly to purchase ineligible securities, as defined by applicable regulations of the Federal Reserve Board, underwritten by any affiliate of Banc One Corporation during the underwriting period and for 30 days thereafter.
