Common use of The Loan and Its Purpose Clause in Contracts

The Loan and Its Purpose. 2.1 AGREEMENT TO LEND Subject to the terms and conditions of this Agreement, and in reliance on each of the representations and warranties made or to be made in or in accordance with each of the Security Documents, each of the Banks agrees to advance to the Borrowers an aggregate amount not exceeding the Maximum Loan Amount to be used by the Borrowers for the purpose referred to in Recital (C).

Appears in 1 contract

Samples: Secured Loan Facility Agreement (Euroseas Ltd.)

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