Purpose of Borrowing. None of the proceeds of the loan by Lender will be used for the purpose of reducing or carrying any margin security or for the purpose of reducing or retiring any indebtedness which was originally incurred to purchase or carry a margin security or for any other purpose which might constitute this transaction a “purpose credit” within the meaning of Regulation U, as now in effect or as it may hereafter be amended, and all such proceeds shall be used for normal business purposes.
Appears in 4 contracts
Samples: Loan Agreement, Loan Agreement (Saddlebrook Resorts Inc), Term Loan Agreement (Jagged Peak, Inc.)
Purpose of Borrowing. None of the proceeds of the loan by Lender Loan will be used for the purpose of reducing or carrying any margin security or for the purpose of reducing or retiring any indebtedness which was originally incurred to purchase or carry a margin security or for any other purpose which might constitute this transaction a “"purpose credit” " within the meaning of Regulation U, as now in effect or as it may hereafter be amended, and all such proceeds shall be used for normal business purposes.
Appears in 1 contract
Samples: Loan Agreement (Tropical Sportswear International Corp)
