Purpose of Credit Facility. Ensure each Advance of a Loan shall be used solely for the purposes set out in Section 2.5 and otherwise as set forth in the applicable Borrowing Notice.
Purpose of Credit Facility. The Borrower will use Loan proceeds only to refinance the Existing Credit Agreement and for the working capital needs and general corporate purposes (including Acquisitions and capital expenditures) of the Companies. The proceeds loaned hereunder will not be used directly or indirectly for the purpose of purchasing or carrying, or for the purpose of extending credit to others for the purpose of purchasing or carrying, any Margin Stock, or to repay any Debt which was created for such purposes.
Purpose of Credit Facility. Borrower has used proceeds of the Term Loans hereunder to pay Indebtedness, acquire, subject to Section 8.5, primarily office and industrial Properties, raw land, properties under construction, partnership interests, interests in other Persons, investments in mortgages and loans, and other acquisitions or investments permitted hereunder, and for construction costs and working capital purposes of the Companies. Borrower is not engaged principally, or as one of its important activities, in the business of extending credit for the purpose of purchasing or carrying any “margin stock” within the meaning of Regulation U of the Board of Governors of the Federal Reserve System, as amended. No part of the proceeds of any Borrowing shall be used, directly or indirectly, for a purpose that violates any Governmental Requirement, including the provisions of Regulation U.
Purpose of Credit Facility. It is acknowledged that the Credit Facility provides an alternative to the Security Cover referred to in paragraph 15.1.2 and the Pool Funds Administrator will use the Credit Facility to cover banking error and payment error and to minimise reductions of payments to Pool Creditors unless it considers in good faith that an amount in default is not likely to be remedied by the non-paying Pool Debtor no later than the next Business Day.
Purpose of Credit Facility. (a) Borrower will use all proceeds of Borrowings for one or more of the following (or will loan such proceeds to, or make capital contributions to, Intermediate Partnership to so use such proceeds)
(i) to repay the Debt existing under the Existing Credit Agreements; (ii) to finance capital expenditures; (iii) for investments permitted hereunder; (iv) for working capital; and (v) for general business purposes. No proceeds of any Borrowing will be used to make any distribution with respect to the Limited Partnership Units or General Partners' interests in Borrower, or to make any distribution with respect to partnership interests in Intermediate Partnership.
(b) Borrower is not engaged principally, or as one of its important activities, in the business of extending credit for the purpose of purchasing or carrying any "margin stock" within the meaning of Regulation U. No part of the proceeds of any Borrowing will be used, directly or indirectly, for a purpose which violates any Law, including, without limitation, the provisions of Regulations T, U, or X (as enacted by the Board of Governors of the Federal Reserve System, as amended).
Purpose of Credit Facility. 54 8.2 Existence, Good Standing, Authority, and Authorizations.................................... 54 8.3
Purpose of Credit Facility. All Drawdowns shall be used for lawful general corporate purposes of the Borrower.
Purpose of Credit Facility. Borrower will use all proceeds of Borrowings for general corporate purposes of the Restricted Companies, including, without limitation, liquidity support for commercial paper. No Restricted Company is engaged principally, or as one of its important activities, in the business of extending credit for the purpose of purchasing or carrying any "margin stock" within the meaning of Regulation U. No part of the proceeds of any Borrowing will be used, directly or indirectly, for a purpose which violates any Law, including, without limitation, the provisions of Regulations T, U, or X (as enacted by the Board of Governors of the Federal Reserve System, as amended). "Margin Stock" (as defined in Regulation U) constitutes less than 25% of those assets of the Restricted Companies which are subject to any limitation on sale, pledge, or other similar restrictions hereunder.
Purpose of Credit Facility. Borrower will use (or will loan or contribute such proceeds to its Subsidiaries to so use) all proceeds of Credit Extensions for one or more of the following: (a) to refinance existing Debt of Borrower under the Existing Credit Facility; and (b) for lawful, corporate purposes including, without limitation, liquidity support for commercial paper issued by Borrower. No Restricted Company is engaged principally, or as one of its important activities, in the business of extending credit for the purpose of purchasing or carrying any "margin stock" within the meaning of Regulation U. No part of the proceeds of any Credit Extension will be used, directly or indirectly, for a purpose which violates any Legal Requirement, including the provisions of Regulation T, U, or X (as enacted by the Board of Governors of the Federal Reserve System, as amended). "Margin Stock" (as defined in Regulation U) constitutes less than twenty-five percent (25%) of those assets of the Companies that are subject to any limitation on sale, pledge, or similar restrictions hereunder.
Purpose of Credit Facility. Loans under the Credit Facility will only be used to assist in completing the Acquisition and to pay fees and transaction expenses relating to the Acquisition and following the completion of the Acquisition, for operating expenditures relating to the Secured Property. The Borrowers may not use the proceeds of any Loans under the Credit Facility to make a hostile take-over bid for any other Person.
