Use of Credit Proceeds. Not, directly or indirectly use any part of the proceeds of the Credit (a) for any purpose other than capital expenditures and general working capital needs or (b) without limiting the generality of the foregoing, for the purpose of purchasing or carrying any Margin Stock, or of reducing, retiring or purchasing any indebtedness incurred for such purpose; or take any other action that would involve a violation of Section 7 of the Securities Exchange Act of 1934, as amended, or any regulation issued thereunder, including Regulation U or Regulation X of the Federal Reserve Board, in connection with the transactions contemplated hereby; provided, however, that nothing set forth in this Section 6.26 or elsewhere in this Agreement shall be construed as imposing any duty on the Lender to supervise the use or application of the Credit proceeds or any liability on the Lender to any person if the Credit proceeds are not used for the purposes set forth in this Agreement.
Use of Credit Proceeds. 3. Without prejudice to the Borrower’s obligations under Section 9.04 of the General Conditions to ensure that all goods, works, and services, financed out of the Credit proceeds are used exclusively for the Project, the North East Provincial Council shall ensure that, under no circumstances, any proceeds of the Credit shall be withdrawn, utilized, or made available for the payment of any taxes, levies, fees, or any other surcharges collected or levied by any group, cadre, entity or other non-governmental organization on goods, works, or services, and Sub-Grants, or on the importation, manufacture, procurement or supply thereof.
Use of Credit Proceeds. 3. Without prejudice to the Borrower’s obligations under Section 9.04 of the General Conditions to ensure that all goods, works, services, training, and Sub-grants financed out of the Credit proceeds are used exclusively for the Project, the North-East Provincial Council shall ensure that, under no circumstances, any proceeds of the Credit shall be withdrawn, utilized, or made available for the payment of any taxes, levies, fees, or any other surcharges collected or levied by any group, cadre, entity or other non-governmental organization on goods, works, services, training, or Sub-grants or on the importation, manufacture, procurement or supply thereof.
Use of Credit Proceeds. The proceeds of the Term Credit shall be used by the Borrower to finance the Acquisitions. The proceeds of the Revolving Credit shall be used by the Borrower to: (a) finance the Acquisitions, (b) refinance existing indebtedness to the Bank, (c) pay costs and expenses incurred in connection with the Acquisitions and the establishment of the Credit and (d) the balance, if any, solely for general working capital purposes, Permitted Acquisitions, repayment of indebtedness of entities acquired in Permitted Acquisitions, and Permitted Stock Payments.
Use of Credit Proceeds. The proceeds of the Revolving Credit shall be used by the Borrower solely for general working capital purposes, and to repay indebtedness owed to CRL by the Borrower in the principal amount of $423,077.36, as evidenced by that certain promissory note dated August 14, 1998 made by the Borrower in favor of CRL (the "CRL August Note"). The proceeds of the Equipment Line of Credit and the SBLC Line of Credit shall be used by the Borrower to purchase equipment and finance the development of the Borrower's law library databases.
Use of Credit Proceeds. The proceeds of the Credit shall be used by the Borrower to refinance existing Indebtedness of the Borrower and its Subsidiaries (other than its Foreign Subsidiaries) of approximately $9,500,000 and for general working capital purposes of the Borrower and its Subsidiaries (other than its Foreign Subsidiaries).
