Purposes of Loans. 10 2.14 Certain limitations on Revolving Credit Loan Advances...........10 SECTION III SECURITY FOR THE LOANS..........................................11
Purposes of Loans. The Borrower shall use the proceeds of all Loan solely to acquire Partnership Interests, provided, that, the Borrower may not apply any proceeds from any Revolving Credit Loan to the purchase of any Partnership Interests unless the Borrower shall first have advised the Lender of the specific Partnership Interests that the Borrower intends to acquire with the proceeds of that Revolving Credit Loan, and the Lender shall, in its discretion, have approved the purchase price of those Partnership Interests.
Purposes of Loans. The proceeds of the Loans shall be used by the Borrower to refinance the indebtedness outstanding on the date hereof under the Existing Credit Agreement and to pay costs and expenses in connection with such refinancing.
Purposes of Loans. Notwithstanding the provisions of Section 7.10 of the Incorporated Covenants, the proceeds of the Loans shall be used solely for the purposes provided in Section 6.2 hereof.
Purposes of Loans. The proceeds of the Loans may be used by the Borrower to make Preapproved Acquisitions and Permitted Purchases, and not more than $10,000,000 of the Loans at any time outstanding may be used for working capital (excluding Acquisition Capital Expenditures) and other general corporate purposes, including the payment of fees and expenses incurred in connection with the execution and delivery of this Agreement.
Purposes of Loans. The proceeds of the Loans may be used by the Borrower to make Permitted Purchases and general corporate purposes (including any Investment permitted under the terms hereof), including the payment of fees and expenses incurred in connection with the execution and delivery of this Agreement. 51
Purposes of Loans. The Term Loan shall be utilized solely for (i) the purchase by Eateries of up to 1,056,200 of its issued and outstanding shares at a price not to exceed $5.125 per share, such shares to be held as treasury stock by Eateries and not to at any time constitute "margin stock" or otherwise cause Borrowers or Lender to be in violation of Section 3.m. of this Agreement, (ii) refinance existing indebtedness of Borrowers with NationsBank, N.A., and (iii) such other purposes as may be approved by Lender. The Line shall be used (i) to refinance the existing revolving facility of Borrowers with NationsBank, N.A. and (ii) for general corporate purposes of Borrowers, but shall not be used for the purchase by Eateries of any of its shares. In addition, Borrowers will:
i. Furnish to Lender audited, consolidated, annual financial statements of Borrowers for each fiscal year of Borrowers, within 120 days after the close of each such fiscal year.
ii. Furnish to Lender unaudited, consolidated quarterly financial statements (including a balance sheet and profit and loss statement) of Borrowers for each fiscal quarter of each fiscal year of Borrowers, within 60 days after the close of each such period.
iii. Furnish to Lender a quarterly compliance certificate for (and executed by an authorized representative of) Borrowers concurrently with and dated as of the date of delivery of each of the financial statements as required in paragraphs i and ii above, containing (a) a certification that the financial statements of even date are true and correct and that Borrowers are not in default under the terms of this Agreement, and (b) computations and conclusions, in such detail as Lender may request, with respect to compliance with this Agreement, and the other Loan Documents, including computations of all quantitative covenants.
iv. Furnish to Lender promptly such additional information, reports and statements respecting the business operations and financial condition of Borrowers, from time to time, as Lender may reasonably request including but not limited to: (a) all quarterly and other periodic reports to the Securities and Exchange Commission (Forms 10-Q, 10-K, etc.) which, reports among other information provided, shall detail all new store openings and other material business matters of Borrowers; and (b) written notification, in form acceptable to Lender, of any potential merger, acquisition, reorganization or sale of a material part of the assets of Borrowers to any other part...
Purposes of Loans. 3.1 The loan hereunder shall only be used for the purpose of the loan as stated in the Application for Withdrawal of Working Capital Loan (hereinafter referred to as “Application for Withdrawal”, Appendix 1) approved by Party B. Without the written consent of Party B, Party A shall not change the purpose of the loan. Party A shall sign the Commitment Letter for the Use of Funds (Annex 2) to ensure that the borrowed funds are used for the business purposes agreed by both parties. The funds shall be used in accordance with national laws and regulations, departmental rules, regulatory documents and other relevant policies and regulations, shall not be misappropriated in the real estate field, shall not be used for investment in stocks, securities, futures, wealth management products and other financial products, and shall not be used for dividends of Party A’s shareholders. Financial assets, fixed assets, equity and other investments shall not be used in fields and applications where production and business operations are prohibited by the State. If Party A is a local financial organization and laws, regulations, and regulatory regulations provide otherwise, such provisions shall prevail.
Purposes of Loans. 4.01 Use of Proceeds --------------- The Borrower will not use the proceeds of any Loans for any purposes other than:
(a) the redemption of Convertible Subordinated Debentures issued by the Borrower; or
(b) to refund any Debt incurred by Borrower, including but not limited to a Loan, for such redemption.
Purposes of Loans. 14 4.4. Financial Condition.........................................14 4.5.
