Common use of Restriction on Use of Proceeds Clause in Contracts

Restriction on Use of Proceeds. The proceeds of the Borrowing are restricted and will not be applied to any claim until each of the items on Schedule 5.15 hereto have been completed as confirmed in writing by the Lender. The Borrower will not use the proceeds of the Borrowing, whether directly or indirectly, and whether immediately, incidentally or ultimately, to purchase or carry Margin Stock, or to extend credit to others for the purpose of purchasing or carrying Margin Stock or to refund indebtedness originally incurred for such purpose.