Use of Advance. No part of the Advance will be used directly or indirectly for the purpose of purchasing or carrying, or for payment in full or in part of Debt that was incurred for the purposes of purchasing or carrying, any margin security as such term is defined in Section 207.2 of Regulation G of the Board of Governors of the Federal Reserve System (12 C.F.R., Chapter II, Part 207).
Use of Advance. You agree that the proceeds of the Advance will be used solely for, and the Invoice Payment Dashboard may permit spending for, only the purposes permitted in Section 7.7. You acknowledge and agree that we may, in our sole and absolute discretion, reject any Invoice Payment Dashboard transaction, including those which do not comply with the requirements of this Agreement, our internal policies, or applicable laws and regulations. You acknowledge and agree that the Clear Bank Account and the Invoice Payment Dashboard are subject to rules and restrictions imposed by us from time to time, including with respect to access and spending rights. For your convenience, and without prejudicing any of our rights to receive the Applicable Percentage of Future Receivables and the Specified Amount of Future Receivables, you may choose not to spend the entire amount of the Advance on a single day. You may from time to time direct us to pay in whole or in part the proceeds of the Advance to eligible third parties you designate on the Invoice Payment Dashboard (such direction, the “Directed Payment Instruction”). If the balance of your unused and available Advance is less than the amount of the Directed Payment Instruction, you may not use the Invoice Payment Dashboard to facilitate payment of the Directed Payment Instruction. You agree to assume sole and absolute responsibility for any Directed Payment Instruction and such instructions may be relied upon by us, whether or not an error could be detected by us. You do not have the right to cancel or amend any Directed Payment Instruction once given to us. You acknowledge and agree that we may, in our sole and absolute discretion, reject any Directed Payment Instruction, including those which do not comply with the requirements of this Agreement, our internal policies, or applicable laws and regulations. You are solely responsible for timely payments to your payees and we have no liability for any late or missed payments.
Use of Advance. Use the proceeds of the Advance hereunder, only for the purposes set out in Section 2.3.
Use of Advance. Borrower will use the proceeds of the Loan only for working capital, sales, marketing and other proper business purposes as it shall determine.
Use of Advance use the proceeds of any Advance for any purposes other than those expressly contemplated in this Agreement;
Use of Advance. The Advance shall be deposited in the Borrower Account. Borrower shall then use the funds thus deposited to pay closing costs associated with the closing of the Credit Facility and to contribute funds to Ark Real Estate to be used by Ark Real Estate to purchase the Real Property Assets pursuant to the Ark Real Estate Purchase Agreement, to Ark Shuckers to be used by Ark Shuckers to purchase the Restaurant Assets pursuant to the Ark Shuckers Purchase Agreement, and to Ark Island to be used by Ark Island to purchase the Property Management Assets pursuant to the Ark Island Purchase Agreement. Borrower shall ensure that the funds thus contributed are used by Ark Real Estate, Ark Shuckers and Ark Island for the purposes specified herein. Borrower may request that the portion of the Advance constituting contributions of funds to Ark Real Estate, Ark Shuckers and Ark Island be advanced directly to Ark Real Estate, Ark Shuckers and Ark Island to facilitate the closing on the purchase of the Real Estate Assets, the Restaurant Assets and the Property Management Assets. Borrower represents and warrants to Bank that notwithstanding any advance of any portion of the Advance by Bank directly to Ark Real Estate, Ark Shuckers and/or Ark Island, if Bank elects to do so, Borrower shall be deemed to have received that portion of the proceeds of the Advance made directly to Ark Real Estate, Ark Shuckers and/or Ark Island and that such portion of the proceeds of the Advance shall be evidenced by and shall constitute outstanding principal under the Note for all purposes of the Note and this Agreement.
Use of Advance. The Borrower shall use the proceeds of each Advance under this Agreement exclusively for the purpose specified in Section 2.3 (Purpose).
Use of Advance. No part of the Advance will be used directly or indirectly for the purpose of purchasing or carrying, or for payment in full or in part of Debt that was incurred for the purposes of purchasing or carrying, any margin security as such term is defined in Section
Use of Advance utilize the proceeds of the Advance under the BDC Facility only for the purposes described in Section 2.02 and not permit such proceeds to be used, directly or indirectly, by any other Person or for any other purpose; and
Use of Advance. Seller may use the Upfront Advance and the Resource Growth Advance in such manner as it sees fit and the Exploration Advance for the purposes detailed in Section 3.6 and it shall not be obliged to return any uncredited portion of the Advance to the Purchaser at the end of the Term. For greater certainty, no interest shall accrue or be payable in respect of the Advance.
