Purpose of Advance. The Borrowers undertake with each Creditor Party to use each Advance only for the purpose stated in the preamble to this Agreement.
Purpose of Advance. The Borrowers undertake with each Creditor Party to use each Advance only to finance the relevant Contract Installment Advance or Delivery Installment Advance due under the relevant Contract. No Creditor Party shall have any responsibility for the application of any Advance by the Borrowers.
Purpose of Advance. The Borrowers undertake with each Creditor Party to use the Advance only for the purpose of (i) repayment of a bridge loan provided by ST Shipping to the Borrowers, and (ii) repayment of subordinated shareholder loans provided by ST Shipping and Bulk Partners to the Borrowers.
Purpose of Advance. Each Advance shall be used to finance the Contracts identified to the Lender in writing on the Contract Schedule, as such Contract Schedule may be amended from time to time.
Purpose of Advance. 1//: ------------------ ___________________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________
Purpose of Advance. The Borrower undertakes with each Creditor Party to use the Advance only to partially refinance the acquisition of the Ship.
Purpose of Advance. 1/: --------------------- --------------------------------------------------------------------------- --------------------------------------------------------------------------- --------------------------------------------------------------------------- provided that if a Swing Line Borrowing has been requested and the -------- requested Swing Line Borrowing is funded: (i) the Swing Line Borrowing will be used for the purpose described above, and (ii) the corresponding Advance by the Banks will be used to repay the Swing Line Borrowing in its entirety.
Purpose of Advance. Each Advance requested by the Borrower is for the sole purpose of covering short-term (i.e. less than 5 Business Days) timing difference on foreign currency trades attributable to the clearing process, and not for working capital or any other purpose.
Purpose of Advance. If the requested Advance is to be used:
