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 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) Subject to the other provisions in the Credit Documents, including, without limitation, 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 all Borrowings any future borrowings hereunder will be used to either (i) finance Borrower's Mortgage Loan origination or (ii) finance Borrower's purchase for general corporate purposes, working capital uses in the ordinary course of Qualifying Real Estate. The initial advances under this agreement will also be used to retire certain bridge loan indebtedness owing under the Existing Agreementbusiness and permitted stock repurchases. (b) The None of 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 stock" as defined in Regulation UU 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, 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 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. 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 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) to refinance any amounts outstanding under the Previous Agreement, (ii) to finance Borrower's Mortgage Loan origination, (iii) to finance Borrower's Commercial Loan origination or (iiiv) 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 Agreementfor general corporate purposes. (b) The proceeds of the Revolving Facility will be used by Borrower solely for the purposes specified in Section 7.1(a6.1(a). None of such proceeds will be used for the purpose of purchasing or carrying any "margin stock"as stock" as defined in Regulation 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) 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) to finance Borrower's Mortgage Commercial Loan origination until those Commercial Loans are sold in the secondary market, 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 Agreementfor general corporate purposes. (b) The proceeds of the Revolving Facility will be used by Borrower solely for the purposes specified in Section 7.1(a6.1(a). None of such proceeds will be used for the purpose of purchasing or carrying any "margin stock"as stock" as defined in Regulation 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.