Purposes of the Loan. Borrower agrees that the Loan will be used solely to provide additional funds to cover cost overruns related to the Project.
Purposes of the Loan. Article 1 As determined by the Parties through consultation:
1. The Borrower can only use the loan under the Contract as working capital, for such specific purpose as purchasing HG11B RESS System.
2. The Borrower shall not use the loan fund for investment in fixed assets, equity, etc., nor for the fields and purposes in which production and operation are prohibited by the State.
3. The Borrower shall not change the purpose of the Loan specified in the Contract without the prior written consent of the Lender.
Purposes of the Loan. 2.1 Both parties agree that the Loan under this Agreement is available to the Borrower for the purpose of liquidity support.
Purposes of the Loan. The purpose of the Loan is to finance the development and construction of the Project and working capital requirements of the Borrower, including SWVP-018532 - 24 - 79351-0004/LEGAL23242297.11 preparation of feasibility studies, pilot plant construction and other financial assurance requirements.
Purposes of the Loan. The purpose of the Loan is to replace the existing debt and finance the operations of the Borrower.
Purposes of the Loan. The Loan of €1,900,000.00 breaks down into two tranches, these being: • an amount not exceeding €1,490,000 in a first tranche referred to hereinafter as the “Loan Tranche” the purpose of which is to enable payment of the whole purchase price of the real estate hereunder; Xx. Xxxx Xxxxxx COQUERQUE and Xx. Xxxx XXXXX acting in their designated capacity, loans at the date hereof to Borrower, as is shown in the accounts of the undersigned notary public, the sum of €1,490,000, this being the total amount for the aforementioned “Loan Tranche”. • and an amount not exceeding €410,000 in a second tranche referred to hereinafter as the “Credit Facility”, the purpose of which is to enable the financing of costs related to the present transaction and the work that Borrower is to carry out with respect to the real estate purchased hereunder in accordance with information and supporting documentation provided elsewhere to Bank;
Purposes of the Loan. Proceeds of the Loan shall be used by DEVELOPER for general corporate purposes, including to pay fees and make payments to the Company, to fund Store operating costs, to fund general corporate overhead, to provide general working capital for DEVELOPER, and to finance the purchase, design, construction and equipment of Stores, commissaries and production facilities in the Development Area pursuant to and in accordance with the Development Agreement.
Purposes of the Loan. 1. Party B hereby warrants and undertakes that if Party A provides a loan to Party B, Party B shall inject the entire loan to a start-up fund of Party C (the injection matter is hereinafter referred to as “Capital Increase”, and the additional start-up fund is referred to as “Additional Capital Injection”). After the capital increase, the start-up capital of Party C will increase by the amount of loan.
2. Party B and Party C hereby warrant and undertake that Party B shall pay the full amount of the Additional Capital Injection to Party C directly and/or through Party B’s subsidiaries within one month after receiving each loan from Party A. Party B and Party C shall complete all procedures of the Capital Increase (including but not limited to changing the company’s articles of association and the School’s articles of association, taking out a capital verification report, renewing the school licenses, the private non-enterprise registration certificate and the like) within 3 months after Party C receives the Additional Capital Injection. After the Capital Increase, Party B and/or Party B’s subsidiary shall not divest in any way within the duration of Party C.
3. Party B further agrees that to the extent permitted by the regulators of the PRC, Party A has the right to directly pay the loan, which is duly provided by Party A to Party B under the Agreement, to Party C as a Capital Increase made by Party B and/or Party B’s subsidiary to Party C, so as to reduce the payment steps and improve the efficiency of fund arrangements. Party B and/or Party B’s subsidiary and Party C shall complete all procedures of the Capital Increase (including but not limited to changing the company’s articles of association and the School’s articles of association, taking out a capital verification report, renewing the school licenses, the private non-enterprise registration certificate and the like) within 3 months after Party C receives the Additional Capital Injection.
Purposes of the Loan
