Purpose of the Advances. The Borrowers undertake with each Creditor Party to use the Advances only for the purposes of (i) repayment of a bridge loan provided by ST Shipping, (ii) repayment of subordinated shareholder loans provided by ST Shipping and Pangaea and (iii) delivery financing of NORDIC OSHIMA.
Purpose of the Advances. All Advances made by the Revolving Facility Lenders to the Borrower under the Revolving Facility in accordance with the provisions hereof from and after the Closing Date, and all Advances made by the Unsecured Facility Lenders to the Borrower under the Unsecured Facility in accordance with the provisions hereof from and after the Third Amendment Closing Date, shall be used by the Borrower for general corporate purposes, including, without limitation, to issue Letters of Credit and to pay dividends to QMI from time to time, subject to and in accordance with the terms and conditions of this Agreement. All Advances made under the Finnvera Term Facility shall be for the purposes described in Section 2 of Schedule “P”.
Purpose of the Advances. All Advances made by the Lenders to the Borrower under the Revolving Facility in accordance with the provisions hereof from and after the Closing Date shall be used by the Borrower for general corporate purposes, including, without limitation, to issue Letters of Credit and to pay dividends to QMI from time to time, subject to and in accordance with the terms and conditions of this Agreement. All Advances made under the Finnvera Term Facility shall be for the purposes described in Section 2 of Schedule “P”.
Purpose of the Advances. The Borrowers undertake with each Creditor Party to use each Advance only for financing or refinancing the Ship to which such Advance relates.
Purpose of the Advances. The Borrower undertakes with each Creditor Party to use each Advance only for the purpose stated in the Recitals of this Agreement. 39
Purpose of the Advances. All Advances made by the Lenders to the Borrower under the Revolving Facility in accordance with the provisions hereof from and after the Eighth Amendment Closing Date shall be used by the Borrower for general corporate purposes, including, without limitation, to issue Letters of Credit solely in connection with the Spectrum Auction and Purchase and to pay dividends to QMI from time to time, subject to and in accordance with the terms and conditions of this Agreement.”.
Purpose of the Advances. All Advances made by the Lender to the Borrower in accordance with the provisions hereof (a) under Facility A, shall be used by the Borrower (directly or indirectly) exclusively to acquire the shares of ATC and for general corporate or business purposes, and (b) under Facility B, shall be used by the Borrower, directly or indirectly, exclusively to refinance existing Funded Debt of ATC and for general corporate or business purposes. No proceeds of any Advance will be used to acquire any equity security of a class which is registered pursuant to Section 12 of the Securities Exchange Act of 1934 or any "margin stock", as defined in Federal Reserve System Board of Governors Regulation U.
Purpose of the Advances. All Advances made by the Lenders to the Borrower in accordance with the provisions hereof from and after the Sixth Amendment Closing Date shall be used by the Borrower exclusively as follows:
Purpose of the Advances. All Advances made by the Lenders to the Borrowers in accordance with the provisions hereof shall be used by the Borrowers (directly or indirectly) for (a) the financing of the non-hostile acquisition of assets, and (b) general corporate or business purposes, including the issuance of letters of credit and the repayment and cancellation of all Existing Credit Facilities. No proceeds of any Advance will be used (A) to acquire any equity "security", as defined in Section 2(1) of the Securities Act of 1933, as amended, of a class which is registered pursuant to Section 12 of the Securities Exchange Act of 1934 or any "margin stock", as defined in Federal Reserve System Board of Governors Regulation U, or (B) to finance or protect against any hostile acquisition (meaning an acquisition by or of a member of the Restricted Group in respect of which the board of directors of the target company or management of the target Person (if the target is not a corporation) has not recommended acceptance of same).
Purpose of the Advances. All Advances made by the Lenders to the Borrower in accordance with the provisions hereof shall be used by the Borrower exclusively as follows:
