Common use of Purpose of Loans Clause in Contracts

Purpose of Loans. The Borrower shall use the proceeds of each Loan for its general business purposes, including the purchase of investment securities, provided that in no event shall the proceeds of any Loan be used for purposes which would violate any provision of any applicable statute, rule, regulation, order or restriction applicable to the Borrower or Regulation U.

Appears in 4 contracts

Samples: Credit Agreement (THL Credit Senior Loan Fund), Credit Agreement (Aberdeen Asia-Pacific Income Fund Inc), Credit Agreement (Aberdeen Asia-Pacific Income Fund Inc)

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Purpose of Loans. The Such Borrower shall use the proceeds of each Loan made to it solely for its general business purposestemporary or emergency purposes (including, including without limitation, the purchase funding of investment securitiesredemptions and trade settlement), provided that in no event shall the proceeds of any such Loan be used for purposes which would violate any provision of any applicable statute, rule, regulation, order or restriction applicable to the such Borrower or Regulation U.

Appears in 3 contracts

Samples: Credit Agreement (Investment Managers Series Trust), Credit Agreement (Investment Managers Series Trust), Credit Agreement (Investment Managers Series Trust)

Purpose of Loans. The Borrower shall use the proceeds of each Loan for its general business purposes, including the purchase of investment securities, provided that in no event shall (a) the proceeds of any Loan be used for purposes which would violate any provision of any applicable statute, rule, regulation, order or restriction applicable to the Borrower or Regulation U.U or (b) the Borrower use the proceeds of any Loan for anything other than its general corporate or working capital purposes.

Appears in 3 contracts

Samples: Credit Agreement (Tortoise Energy Independence Fund, Inc.), Control Agreement (Tortoise Energy Independence Fund, Inc.), Control Agreement (Tortoise Power & Energy Infrastructure Fund Inc)

Purpose of Loans. The Such Borrower shall use the proceeds of each Loan for its general business purposes, including made to finance temporarily the purchase repurchase or redemption of investment securitiesshares of such Borrower, provided that in no event shall the proceeds of any such Loan be used for purposes which would violate any provision of any applicable statute, rule, regulation, order or restriction applicable to the such Borrower or Regulation U.

Appears in 2 contracts

Samples: Credit Agreement (Investment Managers Series Trust), Credit Agreement (Investment Managers Series Trust)

Purpose of Loans. The Borrower shall use the proceeds of each Loan for (a) temporary or emergency purposes and (b) its general business purposes, including the purchase of investment securitiessecurities and Preferred Stock, provided that in no event shall the proceeds of any Loan be used for (x) purposes which would violate any provision of any applicable statute, rule, regulation, order or restriction applicable to the Borrower or Regulation U.U or (y) anything other than its general corporate and working capital purposes.

Appears in 2 contracts

Samples: Security Agreement (ClearBridge Energy MLP Fund Inc.), Credit Agreement (ClearBridge Energy MLP Opportunity Fund Inc.)

Purpose of Loans. The Borrower shall use the proceeds of each Loan for its general business purposesto make additional investments, including the purchase of investment securities, to leverage its investment portfolio, including the purchase of investment securities, and for temporary liquidity needs and for general working capital needs, provided that in no event shall the proceeds of any Loan be used for (a) purposes which would violate any provision of any applicable statute, rule, regulation, order or restriction applicable to the Borrower or Regulation U.U or (b) anything other than the Borrower’s general business or working capital purposes.

Appears in 2 contracts

Samples: Credit Agreement (Blackstone / GSO Floating Rate Enhanced Income Fund), Credit Agreement (Blackstone / GSO Floating Rate Enhanced Income Fund)

Purpose of Loans. The Borrower shall use the proceeds of each Loan for its general business purposesto make additional investments, including the purchase of investment securities, to leverage its investment portfolio, including the purchase of investment securities, and for temporary liquidity needs and for general working capital needs, provided that in no event shall the proceeds of any Loan be used for purposes which would violate any provision of any applicable statute, rule, regulation, order or restriction applicable to the Borrower or Regulation U.

Appears in 2 contracts

Samples: Credit Agreement (Blackstone / GSO Long-Short Credit Income Fund), Credit Agreement (Blackstone / GSO Strategic Credit Fund)

Purpose of Loans. The Borrower shall use the proceeds of each Loan for its general business purposes, including the purchase of investment securitiessecurities and the making of dividends, distributions or similar payments permitted by Section 7.4, provided that in no event shall the proceeds of any Loan be used for purposes which would violate any provision of any applicable statute, rule, regulation, order or restriction applicable to the Borrower or Regulation U.

Appears in 2 contracts

Samples: Credit Agreement (Voya SENIOR INCOME FUND), Credit Agreement (Voya SENIOR INCOME FUND)

Purpose of Loans. The Such Borrower shall use the proceeds of each Loan made for its general business the account of a Related Fund for temporary, emergency or extraordinary purposes, including to enable such Borrower to finance temporarily the purchase repurchase or redemption of investment securitiesshares of, or other interests in, such Related Fund at the request of the holders of such shares or other interests, as the case may be, provided that in no event shall the proceeds of any Loan be used for purposes which would violate any provision of any applicable statute, rule, regulation, order or restriction applicable to the Borrower such Related Fund or Regulation U.

Appears in 2 contracts

Samples: Credit Agreement (Highland Funds I), Credit Agreement (Highland Floating Rate Fund)

Purpose of Loans. The Such Borrower shall use the proceeds of each Loan made to it for its general business purposes, including the purchase temporary financing of investment securitiessecurities settlements, redemption of shares and dividend and capital gain distributions, provided that in no event shall the proceeds of any such Loan be used for (a) purposes which would violate any provision of any applicable statute, rule, regulation, order or restriction applicable to the such Borrower or Regulation U.U, or (b) purposes other than such Borrower’s general business and working capital purposes.

Appears in 2 contracts

Samples: Credit Agreement (Tweedy, Browne Fund Inc.), Credit Agreement (Tweedy, Browne Fund Inc.)

Purpose of Loans. The Borrower shall use the proceeds of each Loan for its general business purposesto prepay the Existing Notes and redeem the Preferred Shares, to make additional investments, including the purchase of investment securities, to leverage its investment portfolio, including the purchase of investment securities, and for temporary liquidity needs and for general working capital needs, provided that in no event shall the proceeds of any Loan be used for purposes which would violate any provision of any applicable statute, rule, regulation, order or restriction applicable to the Borrower or Regulation U.

Appears in 1 contract

Samples: Credit Agreement (Blackstone / GSO Senior Floating Rate Term Fund)

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Purpose of Loans. The Borrower shall use the proceeds of each Loan for its general business to finance temporarily the repurchase or redemption of shares of the Borrower and other purposes, including the purchase of investment securities, provided that in no event shall the proceeds of any Loan be used for (a) purposes which would violate any provision of any applicable statute, rule, regulation, order or restriction applicable to the Borrower or Regulation U.U, or (b) purposes other than the Borrower’s general business and working capital purposes.

Appears in 1 contract

Samples: Credit Agreement (Aristotle Funds Series Trust)

Purpose of Loans. The Borrower shall use the proceeds of each Loan for its general business purposes, including the purchase of investment securitiessecurities and the payment of dividends and distributions to shareholders of the Borrower, provided that in no event shall (a) the proceeds of any Loan be used for purposes which would violate any provision of any applicable statute, rule, regulation, order or restriction applicable to the Borrower or Regulation U.U, or (b) the proceeds of any FFR Loan be used to repay any other Loan.

Appears in 1 contract

Samples: Credit Agreement (Avenue Income Credit Strategies Fund)

Purpose of Loans. The Borrower shall use the proceeds of each Loan for its general business purposes, including the purchase of investment securitiessecurities and the making of Restricted Payments permitted by Section 7.4, provided that in no event shall the proceeds of any Loan be used for purposes which would violate any provision of any applicable statute, rule, regulation, order or restriction applicable to the Borrower or Regulation U.

Appears in 1 contract

Samples: Credit Agreement (Voya SENIOR INCOME FUND)

Purpose of Loans. The Borrower shall use the proceeds of each Loan the Loans for its general business purposes, including the purchase of investment securities, provided that in no event shall the proceeds of any Loan be used for purposes which would violate any provision of any applicable statute, rule, regulation, order or restriction applicable to the Borrower or Regulation U.

Appears in 1 contract

Samples: Credit Agreement (Abrdn Income Credit Strategies Fund)

Purpose of Loans. The Borrower shall use the proceeds of each Loan for its general business purposes, including the purchase of investment securities, provided that (a) in no event shall the proceeds of any Loan be used for purposes which would violate any provision of any applicable statute, rule, regulation, order or restriction applicable to the Borrower or Regulation U.U and (b) until all of the AMPS shall have been redeemed, the proceeds of any Loan shall only be used to pay the redemption price of the AMPS.

Appears in 1 contract

Samples: Credit Agreement (Aberdeen Asia-Pacific Income Fund Inc)

Purpose of Loans. The Borrower shall use the proceeds of each Loan for its general business purposes, including the purchase of investment securitiessecurities and the making of Restricted Payments permitted by Section 7.4, provided that (a) the initial Loan shall be used on the Effective Date to repay in full all Indebtedness and other amounts then due under the Existing Loan Documents and (b) in no event shall the proceeds of any Loan be used for purposes which would violate any provision of any applicable statute, rule, regulation, order or restriction applicable to the Borrower or Regulation U.

Appears in 1 contract

Samples: Security Agreement (Voya SENIOR INCOME FUND)

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