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. The Borrower undertakes to use the Advance only for the purpose stated in the preamble to this Agreement.
Purpose of Advance. 1//: ------------------ ___________________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________
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. 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. If the requested Advance is to be used:
(a) to consummate a Subsequent Acquisition or to pay all or any portion of the Xxxx Atlantic Seller Indebtedness, Agent shall have received evidence that the Motorola Indebtedness has been paid in full and the Motorola Liens have been released;
(b) to consummate a Subsequent Acquisition, to pay all or any portion of the Letters of Credit Indebtedness or to pay all or any portion of the Deferred Payment Indebtedness, Agent shall have received evidence that (i) the Motorola Indebtedness has been paid in full and the Motorola Liens have been released, (ii) the Xxxx Atlantic Seller Note Payment has been paid in full and (iii) either (A) the Xxxx Atlantic Seller Indebtedness has been paid in full and the Xxxx Atlantic Seller Indebtedness Liens have been released or (B) after giving effect to such requested Advance, Agent shall be satisfied that the Principal Balance would not exceed any applicable limits on "Senior Indebtedness" under the Xxxx Atlantic Seller Subordination Agreement.
Purpose of Advance. The Borrower undertakes with each Creditor Party to use the Advance only to partially refinance the acquisition of the Ship.
