Common use of Purpose of Advances Clause in Contracts

Purpose of Advances. Letters of Credit and Revolving Loan Advances shall be used solely (i) to assure that all state licensing requirements of FCMC are met, and (ii) to pay approved expenses to Holding. Draw Loan Advances shall be used solely to provide for working capital of FCMC.

Purpose of Advances. Letters of Credit and Revolving Loan Advances shall be used solely to (iA) to assure that all state licensing requirements of FCMC are met, met and (iiB) to pay approved expenses to Holding. Draw Loan Advances shall be used solely to provide for working capital Approved Expenses of FCMC.