Use of Advances and Letters of Credit. The proceeds of each Borrowing, and each Letter of Credit, shall be used by the Borrowers for their general corporate purposes (including commercial paper backup).
Appears in 2 contracts
Samples: Credit Agreement (Sensient Technologies Corp), Credit Agreement (Sensient Technologies Corp)
Use of Advances and Letters of Credit. The proceeds of each Borrowing, and each Letter of Credit, shall be used by the Borrowers for their general corporate purposes (including commercial paper backup)) or as otherwise permitted pursuant to Section 5.08.
Appears in 2 contracts
Samples: Credit Agreement (Sensient Technologies Corp), Credit Agreement (Sensient Technologies Corp)
Use of Advances and Letters of Credit. The proceeds of each Borrowing, and each Letter of Credit, shall be used by the Borrowers Borrower for their its general corporate purposes (including commercial paper backup). The proceeds of the first Borrowing shall be used, to the extent necessary, to pay or prepay all of the Borrower’s obligations under the credit agreements listed in Schedule 2.15.
Appears in 1 contract
