Common use of Purpose and Regulation U Clause in Contracts

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 under the PMC Revolving Facility Facilities will be used either (i) to finance PMC’s Mortgage Loan origination, (ii) to finance PMC’s Commercial Loan origination, (iii) to finance First Western’s Commercial Loan origination under the 7(a) Loan Program of the U.S. Small Business Administration, (iv) for quarterly or annual Distributions by PMC (subject to Section 8.9(c)) or (iiiv) 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 Term Loan will be used either (x) on the Fourth Amendment Effective Date to finance First Western’s Commercial Loan origination repay Principal Debt outstanding under the 7(a) Loan Program of the U.S. Small Business Administration or (y) for general corporate purposesPMC Revolving Facility. (b) The proceeds of the PMC Revolving Facility Facilities will be used by PMC the Borrowers solely for the purposes specified in Section 6.1(a). The proceeds of the First Western Revolving Facility Term Loan will be used by First Western the Borrowers 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 Agreementagreement, 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 CLAUSE (b) below, the proceeds of all Borrowings under the PMC Term Loan will be used to refinance the term loan portion of the Refinanced Debt and for general corporate purposes, and the proceeds of the Revolving Facility will be used either (i) to finance PMC’s Mortgage Loan originationrefinance the revolving loan portion of the Refinanced Debt, (ii) to finance PMC’s Commercial Loan origination, or (iii) for general corporate purposes. Subject to the other provisions , working capital uses in the Credit Documentsordinary course of business, includingPermitted Acquisitions, 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 purposesand permitted stock repurchases. (b) The proceeds of the PMC Revolving Facility and Term Loan will be used by PMC Borrower 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(aSECTION 7.1(a). None of such proceeds will be used for the purpose of purchasing or carrying any “"margin stock” as stock"as defined in Regulation UU or G of the Board of Governors of the Federal Reserve System (12 C.F.R. Part 221 and 207), 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. U or G. 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 other of the other Credit Documents, including this Credit Agreement, to violate Regulation Regulations U or G 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, 1934 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 . For the avoidance of any advance doubt, no proceeds of the Revolving Facility or loan made hereunder shall Term Loan may be used directly or indirectly to purchase ineligible any securities, as defined by applicable regulations including without limitation, any of the Federal Reserve Board, underwritten by any affiliate Permitted Investments described in CLAUSES (f) through (h) of JPMorgan Chase & Co. or any affiliate of any other Lender during the underwriting period and for 30 days thereafterSECTION 9.7.

Purpose and Regulation U. (a) Subject to the other provisions in the Credit Documents, including, without limitation, clause CLAUSE (b) below, the proceeds of all Borrowings under the PMC Revolving Facility will be Term Loan have been used either (i) to finance PMC’s Mortgage Loan origination, (ii) to finance PMC’s Commercial Loan origination, or (iii) refinance the term loan portion of the Refinanced Debt and for general corporate purposes. Subject to the other provisions in the Credit Documents, including, without limitation, clause (b) below, and the proceeds of all Borrowings under the First Western Revolving Facility have been used to refinance the revolving loan portion of the Refinanced Debt, and 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, working capital uses in the ordinary course of business, Permitted Acquisitions, and permitted stock repurchases. (b) The proceeds of the PMC Revolving Facility and Term Loan will be used by PMC Borrower 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(aSECTION 7.1(a). None of such proceeds will be used for the purpose of purchasing or carrying any “"margin stock” as stock"as defined in Regulation UU or G of the Board of Governors of the Federal Reserve System (12 C.F.R. Part 221 and 207), 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 35 42 meaning of such Regulation U. U or G. 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 other of the other Credit Documents, including this Credit Agreement, to violate Regulation Regulations U or G 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, 1934 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 . For the avoidance of any advance doubt, no proceeds of the Revolving Facility or loan made hereunder shall Term Loan may be used directly or indirectly to purchase ineligible any securities, as defined by applicable regulations including without limitation, any of the Federal Reserve Board, underwritten by any affiliate Permitted Investments described in CLAUSES (f) through (h) of JPMorgan Chase & Co. or any affiliate of any other Lender during the underwriting period and for 30 days thereafterSECTION 9.7.