Common use of Purpose of the Loans Clause in Contracts

Purpose of the Loans. The Loans shall be used to support electrical generation and transmission operations of the Borrower and for purposes of funding working capital, capital expenditures, refinancing of obligations, including those arising under the Existing Credit Agreement, and other corporate purposes of the Borrower and its Subsidiaries, and shall not be used for non electrical operations of the Borrower and its Subsidiaries.

Appears in 4 contracts

Samples: Credit Agreement (Otter Tail Corp), Credit Agreement (Otter Tail Corp), Credit Agreement (Otter Tail Corp)

AutoNDA by SimpleDocs

Purpose of the Loans. The Loans shall be used to support electrical generation and transmission operations of the Borrower and for purposes of funding working capital, capital expenditures, refinancing of obligations, including those arising under the Existing Credit Agreement, and other corporate purposes of the Borrower and its SubsidiariesBorrower, and provided, that Loans shall not be used for non only to support non-electrical operations of the Borrower and its Subsidiaries.

Appears in 2 contracts

Samples: Credit Agreement (Otter Tail Corp), Credit Agreement (Otter Tail Corp)

Purpose of the Loans. The Loans shall be used to support electrical generation and transmission operations of the Borrower and for purposes of funding working capital, capital expenditures, refinancing of obligations, including those arising under the Existing Credit Agreement, and other corporate purposes of the Borrower and its Subsidiaries, and provided, that Loans shall not be used for non only to support non-electrical operations of the Borrower and its Subsidiaries.

Appears in 1 contract

Samples: Credit Agreement (Otter Tail Corp)

Purpose of the Loans. The Loans shall be used to support electrical generation and transmission operations of the Borrower and for purposes of funding working capital, capital expenditures, refinancing of obligations, including those arising under the Existing Credit Agreement, and other corporate purposes of the Borrower and its SubsidiariesBorrower, and shall not be used for non non-electrical operations of the Borrower and its Subsidiaries.

Appears in 1 contract

Samples: Credit Agreement (Otter Tail Corp)

AutoNDA by SimpleDocs

Purpose of the Loans. The Loans shall be used to support electrical generation and transmission operations of the Borrower and for purposes of funding working capital, capital expenditures, refinancing of obligations, including those arising under the Existing Credit Agreement, and other corporate purposes of the Borrower and its SubsidiariesBorrower, and shall not be used for non non-electrical operations of the Borrower and its Subsidiaries.

Appears in 1 contract

Samples: Credit Agreement (Otter Tail Corp)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!