Purpose of Term Loan. The proceeds of the Term Loan shall be used to refinance the existing indebtedness of the Company, and the Company shall use the Term Loan for no other purpose.
Purpose of Term Loan. The proceeds of the Term Loan shall be used to finance the Intermountain Acquisition and pay related transactional costs.
Purpose of Term Loan. The proceeds of the Term Loan shall be used solely to purchase the assets of the U.S. Lock division of WOC Inc., from WOC Inc. and to pay liabilities assumed in connection with the Acquisition.
Purpose of Term Loan. The proceeds of the Term Loan shall be used by the Borrower only: (i) to refinance all amounts owed to Bank of America (as successor in interest to NationsBank, N.A. (South)) under the Bank of America Credit Documents and (ii) for general corporate purposes.
Purpose of Term Loan. The Term Loan will be used (a) to refinance Indebtedness, (b) to provide general working capital, or (c) for other general corporate purposes.
Purpose of Term Loan. Subject to the provisions of the Loan Documents, the proceeds of the Term Loan shall be used by Borrower solely to replenish working capital Borrower has used to repay in its entirety, retire and cancel the subordinated debenture in the principal amount of $10,000,000 issued by Borrower to, and currently held by, JPMorgan Chase Bank, N.A. (the “Chase Subordinated Debt”).
Purpose of Term Loan. Borrower will use (or will loan such proceeds to its Companies to so use) all proceeds of the Term Loan to consummate the Towers Acquisition. No Company or Guarantor 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 the Term Loan 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 Term Loan. The proceeds of the Term Loan shall be used to finance the Cascade Acquisition and pay related transactional costs.
Purpose of Term Loan. The proceeds of the Existing Term Loan were used by the Borrowers for the purposes specified under Section 4.19 of the Existing Loan Agreement. The proceeds of the Additional Term Loan shall be used by the Borrowers for working capital purposes in the ordinary course of business.
Purpose of Term Loan. The proceeds of the Term Loan shall be used by the Borrower exclusively to make a Surplus Note available to the Insurance Subsidiaries and, to the extent regulatory approval is not obtained to make available such Surplus Note, for general corporate purposes.
