Use of Credit Extensions. Except as set forth in Section 7.11 of the Schedule, use the Credit Extensions for any purpose other than the payment of operating expenses, trade debt and other debt all of which are incurred in the ordinary course of Borrowers' business and in payment of reasonable attorneys' fees and costs incurred by the Company in connection with the Merger.
Use of Credit Extensions. Request Letters of Credit only to support obligations of Max Bermuda or any of its Insurance Subsidiaries under Reinsurance Agreements and Primary Policies and regulatory purposes and use Loan proceeds only for general corporate purposes of the Borrowers.
Use of Credit Extensions. The Borrower will use the proceeds of the Loans made hereunder to finance the Merger Transactions, the redemption of the Existing 2018 Senior Notes, the transactions contemplated by or related to the foregoing and fees and expenses in connection therewith. The Borrower will not request any Borrowing and the Borrower shall not use, and shall procure that each other Group Member and its or their respective directors, officers, employees and agents shall not use, the proceeds of any Borrowing (i) in furtherance of an offer, payment, promise to pay, or authorization of the payment or giving of money, or anything else of value, to any Person in violation of any Anti-Corruption Laws, (ii) for the purpose of funding, financing or facilitating any activities, business or transaction of or with any Sanctioned Person, or in any Sanctioned Country or (iii) in any manner that would result in the violation of any Sanctions applicable to any party hereto.
Use of Credit Extensions. Use the proceeds of all Credit Extensions for general corporate purposes not in contravention of any Law or of any Loan Document and not use the proceeds of any Credit Extension, whether directly or indirectly, and whether immediately, incidentally or ultimately, to purchase or carry margin stock (within the meaning of Regulation U of the FRB) or to extend credit to others for the purpose of purchasing or carrying margin stock or to refund indebtedness originally incurred for such purpose.
Use of Credit Extensions. The Borrower will use the proceeds of the Loans made hereunder and the Letters of Credit issued hereunder for general corporate purposes of the Parent and its Subsidiaries. Notwithstanding the foregoing, the Borrower shall not use the proceeds of the Loans made hereunder for the purpose of financing any portion of the Merger Transactions or the transactions related thereto unless the proceeds of the Permanent Financing and (if applicable) the Bridge Facility which are available for such purpose have first been applied thereto. The Borrower will not request any Borrowing or Letter of Credit, and the Borrower shall not use, and shall procure that each other Group Member and its or their respective directors, officers, employees and agents shall not use, the proceeds of any Borrowing or Letter of Credit (i) in furtherance of an offer, payment, promise to pay, or authorization of the payment or giving of money, or anything else of value, to any Person in violation of any Anti-Corruption Laws, (ii) for the purpose of funding, financing or facilitating any activities, business or transaction of or with any Sanctioned Person, or in any Sanctioned Country or (iii) in any manner that would result in the violation of any Sanctions applicable to any party hereto.
Use of Credit Extensions. Request Letters of Credit only to support the Borrower’s obligations under Reinsurance Agreements and Primary Policies and for regulatory purposes.
Use of Credit Extensions. The Borrower will use the proceeds of the Loans made hereunder and the Letters of Credit issued hereunder for general corporate purposes of the Borrower and its Subsidiaries, including (in the case of any Loans) the repayment of maturing commercial paper issued by the Borrower. The Borrower will not request any Borrowing or Letter of Credit, and the Borrower shall not use, and shall procure that its Subsidiaries and its or their respective directors, officers, employees and agents shall not use, the proceeds of any Borrowing or Letter of Credit (i) in furtherance of an offer, payment, promise to pay, or authorization of the payment or giving of money, or anything else of value, to any Person in violation of any Anti-Corruption Laws, (ii) for the purpose of funding, financing or facilitating any activities, business or transaction of or with any Sanctioned Person, or in any Sanctioned Country or (iii) in any manner that would result in the violation of any Sanctions applicable to any party hereto.
Use of Credit Extensions. The Borrower will use the proceeds of the Loans made hereunder and the Letters of Credit issued hereunder for general corporate purposes of the Borrower and its Subsidiaries. The Borrower will not request any Borrowing or Letter of Credit, and the Borrower shall not use, and shall procure that each other Group Member and its or their respective directors, officers, employees and agents shall not use, the proceeds of any Borrowing or Letter of Credit (i) in furtherance of an offer, payment, promise to pay, or authorization of the payment or giving of money, or anything else of value, to any Person in violation of any Anti-Corruption Laws, (ii) for the purpose of funding, financing or facilitating any activities, business or transaction of or with any Sanctioned Person, or in any Sanctioned Country or (iii) in any manner that would result in the violation of any Sanctions applicable to any party hereto.
Use of Credit Extensions. Use the proceeds of all Credit Extensions for general corporate purposes not in contravention of any Law or of any Loan Document and not use the proceeds of any Credit Extension, whether directly or indirectly, and whether immediately, incidentally or ultimately, to purchase or carry margin stock (within the meaning of Regulation U of the FRB) or to extend credit to others for the purpose of purchasing or carrying margin stock or to refund indebtedness originally incurred for such purpose. Further Assurances. Promptly upon the request of the Administrative Agent, the Parent (and Harbor Point Re with respect to each Investment Entity for which it has requested a Secured Letter of Credit) shall cause each Pledgor to execute, acknowledge, deliver and record and do any and all such further acts and deeds as the Administrative Agent may reasonably request from time to time in order to ensure that the Secured L/C Obligations of such Pledgor (plus, subject to compliance with Section 6.11(c), the Secured L/C Obligations of any Collateral Beneficiary for which such Pledgor is a Collateral Provider) are secured by a first priority (subject only to Liens described in Sections 7.08(b) and (o)) perfected interest in the assets of such Pledgor stated to be pledged pursuant to its Security Agreement and to perfect and maintain the validity, effectiveness and priority of its Security Agreement and the Liens intended to be created thereby. Notwithstanding any provision of a Control Agreement to the contrary, without the prior written consent of the Administrative Agent, no Pledgor shall give directions or entitlement orders, as applicable, to the Financial Institution party to any applicable Control Agreement to make a delivery to such Pledgor or any other Person of assets or properties (other than dividends and interest on the Eligible Collateral) from such Pledgor’s Collateral Account except in connection with the sale, investment or reinvestment of Eligible Collateral the proceeds of which will be deposited into such Pledgor’s Collateral Account. The Administrative Agent, on behalf of the Lenders, agrees that provided (i) no Event of Default exists and is continuing and (ii) after giving effect to the proposed delivery, the Borrowing Base of such Pledgor is equal to or in excess of the Secured L/C Obligations of such Pledgor (plus, subject to compliance with Section 6.11(c), the Secured L/C Obligations of any Collateral Beneficiary for which such Pledgor is a Collateral...
Use of Credit Extensions. Financial Strength Rating.