Purpose of Loan. The Executive shall use the proceeds of the Loan solely for the purpose of purchasing the Purchased Shares pursuant to Section 2 hereof.
Appears in 12 contracts
Samples: Stock Purchase and Loan Agreement (Miix Group Inc), Stock Purchase and Loan Agreement (Miix Group Inc), Stock Purchase and Loan Agreement (Miix Group Inc)
Purpose of Loan. The Executive shall use is using the proceeds of the Loan solely for the purpose of purchasing the Purchased Shares pursuant to Section 2 hereof.
Appears in 2 contracts
Samples: Stock Purchase, Loan and Security Agreement (Water Chef Inc), Stock Purchase, Loan and Security Agreement (Water Chef Inc)