Common use of Sanctions; Use of Proceeds Clause in Contracts

Sanctions; Use of Proceeds. No Loan Party shall, nor shall it permit any of its Subsidiaries to, fail to comply with the Laws, regulations and executive orders referred to in Section 3.12. No Loan Party will, directly or indirectly, use the proceeds of the Advances or Letters of Credit, or lend, contribute or otherwise make available such proceeds to any Subsidiary, joint venture partner or other Person, (i) to fund any activities or business of or with any Person, or in any country or territory, that, at the time of such funding, is the subject of Sanctions, or (ii) in any other manner that would result in a violation of Sanctions by any Person (including any Person participating in the Advances or Letters of Credit, whether as Xxxxxx, underwriter, advisor, investor, or otherwise).

Appears in 3 contracts

Samples: Credit Agreement (Universal Technical Institute Inc), Credit Agreement (Universal Technical Institute Inc), Credit Agreement (Universal Technical Institute Inc)

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Sanctions; Use of Proceeds. No Loan Party shall, nor shall it permit any of its Subsidiaries to, fail to comply with the Laws, regulations and executive orders referred to in Section 3.12. No Loan Party will, directly or indirectly, use the proceeds of the Advances or Letters of CreditAdvances, or lend, contribute or otherwise make available such proceeds to any Subsidiarysubsidiary, joint venture partner or other Person, (i) to fund any activities or business of or with any Person, or in any country or territory, that, at the time of such funding, is the subject of Sanctions, or (ii) in any other manner that would result in a violation of Sanctions by any Person (including any Person participating in the Advances or Letters of Credit, whether as Xxxxxx, underwriter, advisor, investor, or otherwiseAdvances).

Appears in 2 contracts

Samples: Credit Agreement (American Shared Hospital Services), Credit Agreement (American Shared Hospital Services)

Sanctions; Use of Proceeds. No Loan Party shall, nor shall it permit any of its Subsidiaries to, fail to comply with the Laws, regulations and executive orders referred to in Section 3.12. No Loan Party will, directly or indirectly, use the proceeds of the Advances or Letters of Credit, or lend, contribute or otherwise make available such proceeds to any Subsidiarysubsidiary, joint venture partner or other Person, (i) to fund any activities or business of or with any Person, or in any country or territory, that, at the time of such funding, is the subject of Sanctions, or (ii) in any other manner that would result in a violation of Sanctions by any Person (including any Person participating in the Advances or Letters of Credit, whether as Xxxxxx, underwriter, advisor, investor, or otherwise).

Appears in 1 contract

Samples: Credit Agreement (Thorne Healthtech, Inc.)

Sanctions; Use of Proceeds. No Loan Party shall, nor shall it permit any of its Subsidiaries to, fail to comply with the Laws, regulations and executive orders referred to in Section Sections 3.12. No Loan Party will, directly or indirectly, use the proceeds of the Advances Loans or Letters of Credit, or lend, contribute or otherwise make available such proceeds to any Subsidiarysubsidiary, joint venture partner or other Person, (i) to fund any activities or business of or with any Person, or in any country or territory, that, at the time of such funding, is the subject of Sanctions, or (ii) in any other manner that would result in a violation of Sanctions by any Person (including any Person participating in the Advances Loans or Letters of Credit, whether as XxxxxxAgent, L/C Issuer, Lender, underwriter, advisor, investor, or otherwise).

Appears in 1 contract

Samples: Credit Agreement (Dixie Group Inc)

Sanctions; Use of Proceeds. No Loan Party shall, nor shall it permit any of its Subsidiaries to, fail to comply with the Laws, regulations and executive orders Laws referred to in Section Sections 3.12. No Loan Party will, directly or indirectly, use the proceeds of the Advances or Letters of Credit, or lend, contribute or otherwise make available such proceeds to any Subsidiarysubsidiary, joint venture partner or other Person, (i) to fund any activities or business of or with any Sanctioned Person or involving any Sanctioned Country, in each case such that it would result in a violation of Sanctions by any Person, or in any country or territory, that, at the time of such funding, is the subject of Sanctions, or (ii) in any other manner that would result in a violation of Sanctions by any Person (including any Person participating in the Advances or Letters of Credit, whether as Agent, L/C Issuer, Xxxxxx, underwriter, advisor, investor, or otherwise).

Appears in 1 contract

Samples: Revolving Credit Agreement (Mammoth Energy Services, Inc.)

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Sanctions; Use of Proceeds. No Loan Party shall, nor shall it permit any of its Subsidiaries to, fail to comply with the Laws, regulations and executive orders referred to in Section 3.12. No Loan Party will, directly or indirectly, use the proceeds of the Advances Loans or Letters letters of Creditcredit, or lend, contribute or otherwise make available such proceeds to any Subsidiarysubsidiary, joint venture partner or other Person, (i) to fund any activities or business of or with any Person, or in any country or territory, that, at the time of such funding, is the subject of Sanctions, or (ii) in any other manner that would result in a violation of Sanctions by any Person (including any Person participating in the Advances or Letters of CreditLoans, whether as XxxxxxAgent, Lender, underwriter, advisor, investor, or otherwise).

Appears in 1 contract

Samples: Credit Agreement (Universal Logistics Holdings, Inc.)

Sanctions; Use of Proceeds. No Loan Party shallBorrower shall not, nor shall it permit any of its Subsidiaries to, fail to comply with the Laws, regulations and executive orders referred to in Section 3.12. No Loan Party will, directly or indirectly, use the proceeds of the Advances or Letters of Credit, or lend, contribute or otherwise make available such proceeds to any Subsidiarysubsidiary, joint venture partner or other Person, (i) to fund any activities or business of or with any Person, or in any country or territory, that, at the time of such funding, is the subject of Sanctions, or (ii) in any other manner that would result in a violation of Sanctions by any Person (including any Person participating in the Advances or Letters of Credit, whether as Xxxxxx, underwriter, advisor, investor, or otherwise).

Appears in 1 contract

Samples: Credit Agreement (Lincoln Educational Services Corp)

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