Use of Guidance Loan Proceeds Sample Clauses

Use of Guidance Loan Proceeds. The proceeds of any Guidance Loan shall be made available by the Borrower Agent to one or more of the Borrowers, as determined by the Borrower Agent, to be used by the Borrowers solely for the payment of Project Costs to the extent permitted under this Agreement, but in no event shall such proceeds be used for the payment of any of the following: (i) the payment of principal, interest, or charges on any loan, whether to the Banks or any other Person; (ii) payment of Working Capital Loans; or (iii) distributions or payments which are prohibited or restricted (including payments which require the Banks to authorize such payments and which have not been authorized) under the terms of this Agreement.
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Related to Use of Guidance Loan Proceeds

  • Use of Loan Proceeds The Borrower shall use the credit extended under this Agreement solely for the purposes set forth in, or otherwise permitted by, Section 6.4 hereof.

  • Federal Reserve Regulations; Use of Loan Proceeds Except for the Federal Reserve Form to be executed and delivered by the Borrower, no filing or other action is required under the provisions of Regulations T, U or X in connection with the execution and delivery by the Borrower of this Credit Agreement and neither the making of any Loan in accordance with this Credit Agreement nor the use of the proceeds thereof, will violate or be inconsistent with the provisions of Regulations T, U or X.

  • Disbursement of Loan Proceeds (a) The State shall disburse Federal Funds earmarked for the Loan to the Borrower in accordance with the terms hereof. Before each and every disbursement of the proceeds of the Loan by the State to the Borrower, the Borrower shall in accordance with the procedures set forth in the Regulations submit to the State a requisition executed by an Authorized Officer of the Borrower.

  • Loan Proceeds Borrower shall use the proceeds of the Loan received by it on the Closing Date only for the purposes set forth in Section 2.1.4.

  • Use of Insurance Proceeds All insurance or condemnation proceeds payable by reason of any physical loss of any of the improvements comprising the facilities or the furniture, fixtures and equipment used by the Practice Offices, shall be available for the reconstruction, repair or replacement, as the case may be, of any damage, destruction or loss. The Policy Board, in consultation with VERO II, shall review and approve such reconstruction, repair or replacement.

  • Use of Collateral Each of the parties granting a security interest hereunder may continue to use and deal with its interest in the Collateral in any lawful manner and may sell items of Collateral in the ordinary course of its business, subject only to the requirements of the Transfer Documents, the Servicing Agreement or any other Basic Document, as appropriate.

  • General Loan Terms Section 3.01.

  • Use of Loan 3.1 The borrower shall use the long-term loan for purchasing 26.75% of shares of ICP Company and any other application of this long-term loan shall obtain earlier written consent from Sina Company.

  • Application of Collateral Proceeds The proceeds and/or avails of the Collateral, or any part thereof, and the proceeds and the avails of any remedy hereunder (as well as any other amounts of any kind held by Secured Party at the time of, or received by Secured Party after, the occurrence of an Event of Default) shall be paid to and applied as follows:

  • Application of Collateral and Proceeds The proceeds of any sale of, or other realization upon, all or any part of the Collateral shall be applied in the following order of priorities:

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