Common use of Use of Loans and Letters of Credit Clause in Contracts

Use of Loans and Letters of Credit. The proceeds of the Loans and the Letters of Credit shall be used for working capital, for lease acquisitions, for exploration and production operations, for development (including the drilling and completion of producing xxxxx), for the payment of fees and expenses incurred in connection with this Agreement and for any other general business purposes. The Credit Parties are not engaged principally, or as one of its or their important activities, in the business of extending credit for the purpose, whether immediate, incidental or ultimate, of buying or carrying margin stock (within the meaning of Regulation T, U or X of the Board). No part of the proceeds of any Loan or Letter of Credit will be used for any purpose which violates the provisions of Regulations T, U or X of the Board.

Appears in 5 contracts

Samples: Credit Agreement (PDC Energy, Inc.), Credit Agreement (PDC Energy, Inc.), Credit Agreement (Bonanza Creek Energy, Inc.)

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Use of Loans and Letters of Credit. The proceeds of the Loans and the Letters of Credit shall be used for to provide working capital, for lease acquisitions, capital for exploration and production operations, to provide funding for development (general corporate purposes, including the drilling and completion issuance of producing xxxxx), for the payment letters of fees and expenses incurred in connection with this Agreement and for any other general business purposescredit. The Credit Parties Borrower and its Subsidiaries are not engaged principally, or as one of its or their important activities, in the business of extending credit for the purpose, whether immediate, incidental or ultimate, of buying or carrying margin stock (within the meaning of Regulation T, U or X of the Board). No part of the proceeds of any Loan or Letter of Credit will be used for any purpose which violates the provisions of Regulations T, U or X of the Board.

Appears in 5 contracts

Samples: Senior Revolving Credit Agreement (Petrohawk Energy Corp), Senior Revolving Credit Agreement (Petrohawk Energy Corp), Senior Revolving Credit Agreement (Petrohawk Energy Corp)

Use of Loans and Letters of Credit. The proceeds of the Loans and the Letters of Credit shall be used for to provide working capital, for lease acquisitions, capital for exploration and production operations, for development (including to refinance Debt under the drilling and completion of producing xxxxx)Existing Credit Agreement, for the payment of fees and expenses incurred in connection with this Agreement and for any other general business corporate purposes. The Credit Parties Parent Guarantor and the Borrower are not engaged principally, or as one of its or their important activities, in the business of extending credit for the purpose, whether immediate, incidental or ultimate, of buying or carrying margin stock (within the meaning of Regulation T, U or X of the Board). No part of the proceeds of any Loan or Letter of Credit will be used for any purpose which violates the provisions of Regulations T, U or X of the Board.

Appears in 4 contracts

Samples: Credit Agreement (Goodrich Petroleum Corp), Credit Agreement (Goodrich Petroleum Corp), Credit Agreement (Goodrich Petroleum Corp)

Use of Loans and Letters of Credit. The proceeds of the Loans and the Letters of Credit shall be used for to (i) repay the Existing Vitesse Oil Indebtedness and (ii) provide working capital, for lease acquisitions, capital for exploration and production operations, for development (including the drilling acquisitions of Oil and completion of producing xxxxx), for the payment of fees and expenses incurred in connection with this Agreement Gas Properties permitted hereunder and for any other general business corporate purposes. The Credit Parties Borrower and its Subsidiaries are not engaged principally, or as one of its or their important activities, in the business of extending credit for the purpose, whether immediate, incidental or ultimate, of buying or carrying margin stock (within the meaning of Regulation T, U or X of the Board). No part of the proceeds of any Loan or Letter of Credit will be used for any purpose which violates the provisions of Regulations T, U or X of the Board.

Appears in 3 contracts

Samples: Credit Agreement (Vitesse Energy, Inc.), Credit Agreement (Vitesse Energy, Inc.), Credit Agreement (Vitesse Energy, Inc.)

Use of Loans and Letters of Credit. The proceeds of the Loans and the Letters of Credit shall be used for to provide working capital, for lease acquisitions, capital for exploration and production operations, for development (including the drilling acquisitions of Oil and completion of producing xxxxx)Gas Properties permitted hereunder, for the payment of fees and expenses incurred in connection with this Agreement and for any other general business corporate purposes. The Credit Parties Borrower and its Subsidiaries are not engaged principally, or as one of its or their important activities, in the business of extending credit for the purpose, whether immediate, incidental or ultimate, of buying or carrying margin stock (within the meaning of Regulation T, U or X of the Board). No part of the proceeds of any Loan or Letter of Credit will be used for any purpose which violates the provisions of Regulations T, U or X of the Board.

Appears in 3 contracts

Samples: Credit Agreement (HighPeak Energy, Inc.), Credit Agreement (HighPeak Energy, Inc.), Credit Agreement (HighPeak Energy, Inc.)

Use of Loans and Letters of Credit. The proceeds of the Loans and the Letters of Credit shall be used for (a) to provide working capital, capital for lease acquisitions, for exploration exploration, production operations and production operations, for development (including the drilling and completion of producing xxxxx), ) and (b) for general corporate purposes of the payment of fees Borrower and expenses incurred in connection with this Agreement and for any other general business purposesthe Guarantors. The Credit Parties Borrower and its Subsidiaries are not engaged principally, or as one of its or their important activities, in the business of extending credit for the purpose, whether immediate, incidental or ultimate, of buying or carrying margin stock (within the meaning of Regulation T, U or X of the Board). No part of the proceeds of any Loan or Letter of Credit will be used for any purpose which violates the provisions of Regulations T, U or X of the Board.

Appears in 3 contracts

Samples: Credit Agreement (Diamondback Energy, Inc.), Credit Agreement (Diamondback Energy, Inc.), Credit Agreement (Diamondback Energy, Inc.)

Use of Loans and Letters of Credit. The proceeds of the Loans and the Letters of Credit shall be used for general corporate purposes, including use for working capital, for lease acquisitions, capital for exploration and production operations, for development (including the drilling issuance of letters of credit and completion of producing xxxxx), for acquisitions permitted by the payment of fees and expenses incurred in connection with this Agreement and for any other general business purposesterms hereof. The Credit Parties Borrower and its Subsidiaries are not engaged principally, or as one of its or their important activities, in the business of extending credit for the purpose, whether immediate, incidental or ultimate, of buying or carrying margin stock (within the meaning of Regulation T, U or X of the Board). No part of the proceeds of any Loan or Letter of Credit will be used for any purpose which violates the provisions of Regulations T, U or X of the Board.

Appears in 2 contracts

Samples: Senior Revolving Credit Agreement (Halcon Resources Corp), Credit Agreement (Halcon Resources Corp)

Use of Loans and Letters of Credit. The proceeds of the Loans and the Letters of Credit shall be used for to provide working capital, for lease acquisitions, capital for exploration and production operations, for development (including the drilling and completion of producing xxxxx), for the payment of fees and expenses incurred in connection with this Agreement operations and for any other general business corporate purposes. The Credit Parties are not engaged principally, or as one of its or their important activities, in the business of extending credit for the purpose, whether immediate, incidental or ultimate, of buying or carrying margin stock (within the meaning of Regulation T, U or X of the Board). No part of the proceeds of any Loan or Letter of Credit will be used for any purpose which violates the provisions of Regulations T, U or X of the Board.

Appears in 2 contracts

Samples: Credit Agreement (Northern Oil & Gas, Inc.), Credit Agreement (Northern Oil & Gas, Inc.)

Use of Loans and Letters of Credit. The proceeds of the Loans and the Letters of Credit shall be used for to provide working capital, for lease acquisitions, capital for exploration and production production, midstream trading and marketing operations, and for development (general corporate purposes of the Borrower and its Subsidiaries, including the drilling acquisition of exploration and completion of producing xxxxx), for the payment of fees production and expenses incurred in connection with this Agreement and for any other general business purposesmidstream properties. The Credit Parties Borrower and its Subsidiaries are not engaged principally, or as one of its or their important activities, in the business of extending credit for the purpose, whether immediate, incidental or ultimate, of buying or carrying margin stock (within the meaning of Regulation T, U or X of the Board). No part of the proceeds of any Loan or Letter of Credit will be used for any purpose which violates the provisions of Regulations T, U or X of the Board.

Appears in 2 contracts

Samples: Credit Agreement (Magnum Hunter Resources Corp), Credit Agreement (Magnum Hunter Resources Corp)

Use of Loans and Letters of Credit. The proceeds of the Loans and the Letters of Credit shall be used for to provide working capital, for lease acquisitions, capital for exploration and production operations, for development (including to provide funds to PLX to refinance Debt under the drilling and completion of producing xxxxx), for the payment of fees and expenses incurred in connection with this Existing Credit Agreement and the PLX Senior Subordinated Indentures and for any other general business corporate purposes. The Credit Parties Borrower and its Subsidiaries are not engaged principally, or as one of its or their important activities, in the business of extending credit for the purpose, whether immediate, incidental or ultimate, of buying or carrying margin stock (within the meaning of Regulation T, U or X of the Board). No part of the proceeds of any Loan or Letter of Credit will be used for any purpose which violates the provisions of Regulations T, U or X of the Board.

Appears in 2 contracts

Samples: Credit Agreement (Plains Resources Inc), Credit Agreement (Plains Exploration & Production Co L P)

Use of Loans and Letters of Credit. The proceeds of the Loans and the Letters of Credit shall be used for to provide working capital, for lease acquisitions, capital for exploration and production operations, for development (including the drilling acquisitions of Oil and completion of producing xxxxx), for the payment of fees and expenses incurred in connection with this Agreement Gas Properties permitted hereunder and for any other general business corporate, partnership or equivalent purposes. The Credit Parties Borrower and its Restricted Subsidiaries are not engaged principally, or as one of its or their important activities, in the business of extending credit for the purpose, whether immediate, incidental or ultimate, of buying or carrying margin stock (within the meaning of Regulation T, U or X of the Board). No part of the proceeds of any Loan or Letter of Credit will be used for any purpose which violates the provisions of Regulations T, U or X of the Board.

Appears in 2 contracts

Samples: Credit Agreement (Eclipse Resources Corp), Credit Agreement (Eclipse Resources Corp)

Use of Loans and Letters of Credit. The proceeds of the Loans and the Letters of Credit shall be used (a) for working capitalgeneral corporate purposes of the Borrower and its Subsidiaries, for lease acquisitions, for exploration and production operations, for development (including the drilling and completion of producing xxxxx), for the payment of fees and expenses incurred in connection with this Agreement and b) for any other general business purposesdistribution advances of Available Cash and (c) Investments in any E&P Subsidiary permitted by Section 9.05(l). The Credit Parties Borrower and its Subsidiaries are not engaged principally, or as one of its or their important activities, in the business of extending credit for the purpose, whether immediate, incidental or ultimate, of buying or carrying margin stock (within the meaning of Regulation T, U or X of the Board). No part of the proceeds of any Loan or Letter of Credit will be used for any purpose which violates the provisions of Regulations T, U or X of the Board.

Appears in 2 contracts

Samples: Credit Agreement (Legacy Reserves Inc.), Credit Agreement (Legacy Reserves Lp)

Use of Loans and Letters of Credit. The proceeds of the Loans and the Letters of Credit shall be used for to provide working capital, for lease acquisitions, capital for exploration and production operations, for development (including the drilling and completion of producing xxxxx), for the payment of fees and expenses incurred in connection with this Agreement operations and for any other general business corporate purposes. The Credit Parties Borrower and its Subsidiaries are not engaged principally, or as one of its or their important activities, in the business of extending credit for the purpose, whether immediate, incidental or ultimate, of buying or carrying margin stock (within the meaning of Regulation T, U or X of the Board). No part of the proceeds of any Loan or Letter of Credit will be used for any purpose which violates the provisions of Regulations T, U or X of the Board.

Appears in 2 contracts

Samples: Credit Agreement (Rex Energy Corp), Credit Agreement (Plains Exploration & Production Co)

Use of Loans and Letters of Credit. The proceeds of the Loans and the Letters of Credit shall be used for (i) to provide working capital, for lease acquisitions, capital for exploration and production operationsproduction, midstream trading and marketing operations and (ii) for development (general corporate purposes of the Borrower and its Subsidiaries, including the drilling acquisition of exploration and completion of producing xxxxx), for the payment of fees production and expenses incurred in connection with this Agreement and for any other general business purposesmidstream properties. The Credit Parties Borrower and its Subsidiaries are not engaged principally, or as one of its or their important activities, in the business of extending credit for the purpose, whether immediate, incidental or ultimate, of buying or carrying margin stock (within the meaning of Regulation T, U or X of the Board). No part of the proceeds of any Loan or Letter of Credit will be used for any purpose which violates the provisions of Regulations T, U or X of the Board.

Appears in 1 contract

Samples: Security and Pledge Agreement (Magnum Hunter Resources Corp)

Use of Loans and Letters of Credit. The proceeds of the Loans and the Letters of Credit shall be used for to provide working capital, for lease acquisitions, capital for exploration and production operations, provide funding for development (including the drilling general corporate purposes and completion of producing xxxxx), for the payment of fees and expenses incurred in connection with this Agreement and for any other general business purposesrepay Swingline Loans. The Credit Parties Parent, OP LLC, the Borrower, the Restricted Subsidiaries and the DevCos are not engaged principally, or as one of its or their important activities, in the business of extending credit for the purpose, whether immediate, incidental or ultimate, of buying or carrying margin stock (within the meaning of Regulation T, U or X of the Board). No part of the proceeds of any Loan or Letter of Credit will be used for any purpose which violates the provisions of Regulations T, U or X of the BoardBoard or any Anti-Corruption Laws.

Appears in 1 contract

Samples: Credit Agreement (Oasis Petroleum Inc.)

Use of Loans and Letters of Credit. The proceeds of the Loans and the Letters of Credit shall will be used to provide funding for the Acquisition, for working capital, for lease acquisitions, capital for exploration and production operations, for development (including the drilling to acquire ownership interests in Oil and completion of producing xxxxx)Gas Properties and expenditures associated therewith, for the payment of fees and expenses incurred in connection with this Agreement and for any other general business corporate purposes. The Credit Parties Borrower and its Subsidiaries are not engaged principally, or as one of its or their important activities, in the business of extending credit for the purpose, whether immediate, incidental or ultimate, of buying or carrying margin stock (within the meaning of Regulation T, U or X of the Board). No part of the proceeds of any Loan or Letter of Credit will be used for any purpose which violates the provisions of Regulations T, U or X of the Board.

Appears in 1 contract

Samples: Credit Agreement (Three Rivers Operating Co Inc.)

Use of Loans and Letters of Credit. The proceeds of the Loans and the Letters of Credit shall be used for the deemed restructuring and rearrangement of the Debt under the Prepetition Credit Agreement, to provide working capital, for lease acquisitions, capital for exploration and production operations, for development (including the drilling acquisitions of Oil and completion of producing xxxxx), for the payment of fees and expenses incurred in connection with this Agreement Gas Properties permitted hereunder and for any other general business corporate purposes. The Credit Parties Borrower and its Subsidiaries are not engaged principally, or as one of its or their important activities, in the business of extending credit for the purpose, whether immediate, incidental or ultimate, of buying or carrying margin stock (within the meaning of Regulation T, U or X of the Board). No part of the proceeds of any Loan or Letter of Credit will be used for any purpose which violates the provisions of Regulations T, U or X of the Board.

Appears in 1 contract

Samples: Credit Agreement (Chaparral Energy, Inc.)

Use of Loans and Letters of Credit. The proceeds of the Loans and the Letters of Credit shall be used for to refinance existing indebtedness, to finance the Calumet Acquisition, to provide working capital, for lease acquisitions, capital for exploration and production operationsproduction, and for development (general corporate purposes of the Borrowers and their Subsidiaries, including the drilling acquisition of exploration and completion of producing xxxxx), for the payment of fees and expenses incurred in connection with this Agreement and for any other general business purposesproduction properties. The No Credit Parties are not Party is engaged principally, or as one of its or their important activities, in the business of extending credit for the purpose, whether immediate, incidental or ultimate, of buying or carrying margin stock (within the meaning of Regulation T, U or X of the Board). No part of the proceeds of any Loan or Letter of Credit will be used for any purpose which violates the provisions of Regulations T, U or X of the Board.

Appears in 1 contract

Samples: Credit Agreement (Chaparral Energy, Inc.)

Use of Loans and Letters of Credit. The proceeds of the Loans and the Letters of Credit shall be used to refinance the Debt under the Existing Credit Agreement, for general corporate purposes, working capital, for lease acquisitions, for exploration capital expenditures and production operations, for development (including acquisitions of the drilling Borrower and completion of producing xxxxx), for the payment of fees and expenses incurred in connection with this Agreement and for any other general business purposesits Subsidiaries. The Credit Parties Borrower and its Subsidiaries are not engaged principally, or as one of its or their important activities, in the business of extending credit for the purpose, whether immediate, incidental or ultimate, of buying or carrying margin stock (within the meaning of Regulation T, U or X of the Board). No part of the proceeds of any Loan or Letter of Credit will be used for any purpose which violates the provisions of Regulations T, U or X of the Board.

Appears in 1 contract

Samples: Credit Agreement (Teton Energy Corp)

Use of Loans and Letters of Credit. The proceeds of the Loans and the Letters of Credit shall be used for to provide working capital, for lease acquisitions, capital for exploration and production operations, for development (including the drilling and completion of producing xxxxx), for the payment of fees and expenses incurred in connection with this Agreement operations and for any other general business corporate purposes. The Credit Parties It and its Subsidiaries are not engaged principally, or as one of its or their important activities, in the business of extending credit for the purpose, whether immediate, incidental or ultimate, of buying or carrying margin stock (within the meaning of Regulation T, U or X of the Board). No part of the proceeds of any Loan or Letter of Credit will be used for any purpose which violates the provisions of Regulations T, U or X of the Board.

Appears in 1 contract

Samples: Credit Agreement (Petroquest Energy Inc)

Use of Loans and Letters of Credit. The proceeds of the Loans and the Letters of Credit shall be used for to provide working capital, for lease acquisitions, capital for exploration and production operations, for development (including the drilling and completion of producing xxxxx), for the payment of fees and expenses incurred in connection with this Agreement operations and for any other general business purposescorporate purposes (including, without limitation, the repurchase of stock to the extent permitted by Section 9.04(a) hereof). The Credit Parties It and its Subsidiaries are not engaged principally, or as one of its or their important activities, in the business of extending credit for the purpose, whether immediate, incidental or ultimate, of buying or carrying margin stock (within the meaning of Regulation T, U or X of the Board). No part of the proceeds of any Loan or Letter of Credit will be used for any purpose which violates the provisions of Regulations T, U or X of the Board.

Appears in 1 contract

Samples: Credit Agreement (Petroquest Energy Inc)

Use of Loans and Letters of Credit. The proceeds of the Loans and the Letters of Credit shall be used to refinance amounts outstanding under the Existing Credit Agreement, pay fees, expenses, and transaction costs in connection with this Agreement, for working capital, for lease acquisitions, for exploration and production operations, for development (including the drilling and completion of producing xxxxx), for the payment of fees and expenses incurred in connection with this Agreement and for any other general business corporate purposes. The Credit Parties are not Neither the Borrower nor any Restricted Subsidiary is engaged principally, or as one of its or their important activities, in the business of extending credit for the purpose, whether immediate, incidental or ultimate, of buying or carrying margin stock (within the meaning of Regulation T, U or X of the Board). No part of the proceeds of any Loan or Letter of Credit will be used for any purpose which violates the provisions of Regulations T, U or X of the Board.

Appears in 1 contract

Samples: Credit Agreement (Carrizo Oil & Gas Inc)

Use of Loans and Letters of Credit. The proceeds of the Loans and the Letters of Credit shall be used for to acquire oil and gas assets, provide working capital, for lease acquisitions, capital for exploration and production operations, for development (including general corporate purposes of the drilling Borrower and completion of producing xxxxx), for the payment of its Subsidiaries and to pay fees and expenses incurred in connection associated with this Agreement and for any other general business purposesthe Transactions. The Credit Parties are not No Loan Party is engaged principally, or as one of its or their important activities, in the business of extending credit for the purpose, whether immediate, incidental or ultimate, of buying or carrying margin stock (within the meaning of Regulation T, U or X of the Board). No part of the proceeds of any Loan or Letter of Credit will be used for any purpose which violates the provisions of Regulations T, U or X of the Board.

Appears in 1 contract

Samples: Credit Agreement (Emerald Oil, Inc.)

Use of Loans and Letters of Credit. The proceeds of the Loans and the Letters of Credit shall be used for to provide working capital, capital for lease acquisitions, for exploration and production operations, for development (including the drilling and completion of producing xxxxxwxxxx), for the payment of fees and expenses incurred in connection with this Agreement and for any other general business corporate purposes. The Credit Parties Borrower and its Subsidiaries are not engaged principally, or as one of its or their important activities, in the business of extending credit for the purpose, whether immediate, incidental or ultimate, of buying or carrying margin stock (within the meaning of Regulation T, U or X of the Board). No part of the proceeds of any Loan or Letter of Credit will be used for any purpose which violates the provisions of Regulations T, U or X of the Board.

Appears in 1 contract

Samples: Credit Agreement (Us Energy Corp)

Use of Loans and Letters of Credit. The proceeds of the Loans and the Letters of Credit shall be used (a) for working capital, for lease acquisitions, for exploration and production operations, and for development (other general company purposes of the Loan Parties, including the drilling acquisition of Oil and completion of producing xxxxx)Gas Properties and (b) to pay fees, for the payment of fees costs and expenses incurred in connection associated with this Agreement and for any other general business purposesthe Transactions. The Credit Loan Parties are not engaged principally, or as one of its or their important activities, in the business of extending credit for the purpose, whether immediate, incidental or ultimate, of buying or carrying margin stock (within the meaning of Regulation T, U or X of the Board). No part of the proceeds of any Loan or Letter of Credit will be used for any purpose which violates the provisions of Regulations T, U or X of the Board.

Appears in 1 contract

Samples: Credit Agreement (Desert Peak Minerals Inc.)

Use of Loans and Letters of Credit. The proceeds of the Loans and the Letters of Credit shall be used (a) to provide working capital for working capitalexploration, for lease acquisitions, for exploration development and production operations, (b) to finance the acquisition of Oil & Gas Properties, (c) for development general corporate purposes and (including the drilling and completion of producing xxxxx), for the payment of fees and expenses incurred in connection with this Agreement and for any other general business purposesd) to repay Swingline Loans. The Credit Parties are not No Loan Party is engaged principally, or as one of its or their important activities, in the business of extending credit for the purpose, whether immediate, incidental or ultimate, of buying or carrying margin stock (within the meaning of Regulation T, U or X of the Board). No part of the proceeds of any Loan or Letter of Credit will be used for any purpose which violates the provisions of Regulations T, U or X of the Board.

Appears in 1 contract

Samples: Credit Agreement (SM Energy Co)

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Use of Loans and Letters of Credit. The proceeds of the Loans and the Letters of Credit shall be used for to provide working capital, for lease acquisitions, capital for exploration and production operations, for development (including the drilling and completion of producing xxxxx), for the payment of fees and expenses incurred to provide funding in connection with this Agreement the Acquisition and for any other general business corporate purposes. The Credit Parties Borrower and its Subsidiaries are not engaged principally, or as one of its or their important activities, in the business of extending credit for the purpose, whether immediate, incidental or ultimate, of buying or carrying margin stock (within the meaning of Regulation T, U or X of the Board). No part of the proceeds of any Loan or Letter of Credit will be used for any purpose which violates the provisions of Regulations T, U or X of the Board.

Appears in 1 contract

Samples: Credit Agreement (Rex Energy Corp)

Use of Loans and Letters of Credit. The proceeds of the Loans and the Letters of Credit and the Letters of Credit shall be used for to provide working capital, for lease acquisitions, capital for exploration and production operations, for development (including the drilling and completion of producing xxxxx), for the payment of fees and expenses incurred to provide funding in connection with this Agreement the Savant Acquisition and for any other general business corporate purposes. The Credit Parties Borrower and its Subsidiaries are not engaged principally, or as one of its or their important activities, in the business of extending credit for the purpose, whether immediate, incidental or ultimate, of buying or carrying margin stock (within the meaning of Regulation T, U or X of the Board). No part of the proceeds of any Loan or Letter of Credit will be used for any purpose which violates the provisions of Regulations T, U or X of the Board.

Appears in 1 contract

Samples: Credit Agreement (Miller Energy Resources, Inc.)

Use of Loans and Letters of Credit. The proceeds of the Loans and the Letters of Credit shall be used for to provide working capital, for lease acquisitions, capital for exploration and production operations, for development (including to provide funds to refinance Debt under the drilling Existing Credit Agreement and completion Debt of producing xxxxx)the Target, for the payment of fees and expenses incurred to provide funding in connection with this Agreement the Acquisition and for any other general business corporate purposes. The Credit Parties Borrower and its Subsidiaries are not engaged principally, or as one of its or their important activities, in the business of extending credit for the purpose, whether immediate, incidental or ultimate, of buying or carrying margin stock (within the meaning of Regulation T, U or X of the Board). No part of the proceeds of any Loan or Letter of Credit will be used for any purpose which violates the provisions of Regulations T, U or X of the Board.

Appears in 1 contract

Samples: Credit Agreement (Plains Exploration & Production Co)

Use of Loans and Letters of Credit. The proceeds of the Loans and the Letters of Credit shall be used for to provide working capital, for lease acquisitions, capital for exploration and production operations, operations and to provide funding and Letters of Credit for development (including general corporate purposes of the drilling Borrower and completion of producing xxxxx), for its Restricted Subsidiaries. Neither the payment of fees and expenses incurred in connection with this Agreement and for Parent nor any other general business purposes. The Credit Parties are not Restricted Subsidiary is engaged principally, or as one of its or their important activities, in the business of extending credit for the purpose, whether immediate, incidental or ultimate, of buying or carrying margin stock (within the meaning of Regulation T, U or X of the Board). No part of the proceeds of any Loan or Letter of Credit will be used for any purpose which violates the provisions of Regulations T, U or X of the Board.

Appears in 1 contract

Samples: Credit Agreement (McMoran Exploration Co /De/)

Use of Loans and Letters of Credit. The proceeds of the Loans and the Letters of Credit shall be used for to (a) provide working capital, for lease acquisitions, capital for exploration and production operations, (b) provide funding for development general corporate purposes and (including the drilling and completion of producing xxxxx), for the payment of fees and expenses incurred in connection with this Agreement and for any other general business purposesc) repay Swingline Loans. The Credit Parties Parent, OP LLC, the Borrower, the Restricted Subsidiaries and the DevCos are not engaged principally, or as one of its or their important activities, in the business of extending credit for the purpose, whether immediate, incidental or ultimate, of buying or carrying margin stock (within the meaning of Regulation T, U or X of the Board). No part of the proceeds of any Loan or Letter of Credit will be used for any purpose which violates the provisions of Regulations T, U or X of the BoardBoard or any Anti-Corruption Laws, Anti-Money Laundering Laws or applicable Sanctions.

Appears in 1 contract

Samples: Credit Agreement (Oasis Petroleum Inc.)

Use of Loans and Letters of Credit. The proceeds of the Loans and the Letters of Credit shall be used for to provide working capital, for lease acquisitions, capital for exploration and production operationsoperations as set forth in the Development Plan, for development (including to pay the drilling and completion cash portion of producing xxxxx)brokerage fees owed to Cynergy Advisor’s, for the payment of fees and expenses incurred LLC in connection with this Agreement an amount not to exceed $500,000 and for any other general business corporate purposes. The Credit Parties are not engaged principally, or as one of its or their important activities, in the business of extending credit for the purpose, whether immediate, incidental or ultimate, of buying or carrying margin stock (within the meaning of Regulation T, U or X of the Board). No part of the proceeds of any Loan or Letter of Credit will be used for any purpose which violates the provisions of Regulations T, U or X of the Board.

Appears in 1 contract

Samples: Credit Agreement (Northern Oil & Gas, Inc.)

Use of Loans and Letters of Credit. The proceeds of the Loans and the Letters of Credit shall be used for to provide working capital, for lease acquisitions, capital for exploration and production operations, for development (including the drilling and completion of producing xxxxx)to refinance existing debt, for the payment of fees and expenses incurred to provide funding in connection with this Agreement the Acquisition related expenses, the acquisition, exploration and development of additional Oil and gas Properties, and for any other general business corporate purposes. The Credit Loan Parties are not engaged principally, or as one of its or their important activities, in the business of extending credit for the purpose, whether immediate, incidental or ultimate, of buying or carrying margin stock (within the meaning of Regulation T, U or X of the Board). No part of the proceeds of any Loan or Letter of Credit will be used for any purpose which violates the provisions of Regulations T, U or X of the Board.

Appears in 1 contract

Samples: Credit Agreement (Cadence Resources Corp)

Use of Loans and Letters of Credit. The proceeds of the Loans and the Letters of Credit shall be used for to (a) provide working capital, for lease acquisitions, capital for exploration and production operations, (b) provide funding for development general corporate purposes and (including the drilling and completion of producing xxxxx), for the payment of fees and expenses incurred in connection with this Agreement and for any other general business purposesc) repay Swingline Loans. The Credit Parties Parent, OP LLC, the Borrower and the Restricted Subsidiaries are not engaged principally, or as one of its or their important activities, in the business of extending credit for the purpose, whether immediate, incidental or ultimate, of buying or carrying margin stock (within the meaning of Regulation T, U or X of the Board). No part of the proceeds of any Loan or Letter of Credit will be used for any purpose which violates the provisions of Regulations T, U or X of the BoardBoard or any Anti-Corruption Laws, Anti-Money Laundering Laws or applicable Sanctions.

Appears in 1 contract

Samples: Credit Agreement (Oasis Petroleum Inc.)

Use of Loans and Letters of Credit. The proceeds of the Loans and the Letters of Credit shall be used for to provide working capital, for lease acquisitions, capital for exploration and production operations, for development (including to refinance Debt under the drilling and completion of producing xxxxx)Existing Credit Agreement, for the payment of fees and expenses incurred in connection with this Agreement and for any other general business corporate purposes, including, without limitation, the acquisition of Oil and Gas Properties otherwise permitted hereby. The Credit Parties Borrower and its Subsidiaries are not engaged principally, or as one of its or their important activities, in the business of extending credit for the purpose, whether immediate, incidental or ultimate, of buying or carrying margin stock (within the meaning of Regulation T, U or X of the Board). No part of the proceeds of any Loan or Letter of Credit will be used for any purpose which violates the provisions of Regulations T, U or X of the Board.

Appears in 1 contract

Samples: Credit Agreement (Energy Partners LTD)

Use of Loans and Letters of Credit. The proceeds of the Loans and the Letters of Credit shall be used for to provide working capital, for lease acquisitions, capital for exploration and production operationsoperations and to provide funding for general corporate purposes of the Borrower and its Subsidiaries, for development (including the drilling acquisition of exploration and completion of producing xxxxx), for the payment of fees and expenses incurred in connection with this Agreement and for any other general business purposesproduction properties. The Credit Parties Borrower and its Subsidiaries are not engaged principally, or as one of its or their important activities, in the business of extending credit for the purpose, whether immediate, incidental or ultimate, of buying or carrying margin stock (within the meaning of Regulation T, U or X of the Board). No part of the proceeds of any Loan or Letter of Credit will be used for any purpose which violates the provisions of Regulations T, U or X of the Board.

Appears in 1 contract

Samples: Credit Agreement (Bill Barrett Corp)

Use of Loans and Letters of Credit. The proceeds of the Loans and the Letters of Credit shall be used for to provide working capital, for lease acquisitions, capital for exploration and production operationsoperations and for general corporate purposes, for development (including the drilling and completion making of producing xxxxxRestricted Payments to the extent permitted by Section 9.04(a)(v), for the payment of fees and expenses incurred in connection with this Agreement and for any other general business purposes. The Credit Parties Borrower and its Subsidiaries are not engaged principally, or as one of its or their important activities, in the business of extending credit for the purpose, whether immediate, incidental or ultimate, of buying or carrying margin stock (within the meaning of Regulation T, U or X of the Board). No part of the proceeds of any Loan or Letter of Credit will be used for any purpose which violates the provisions of Regulations T, U or X of the Board.

Appears in 1 contract

Samples: Credit Agreement (Plains Exploration & Production Co)

Use of Loans and Letters of Credit. The proceeds of the Loans and the Letters of Credit shall be used for to acquire oil and gas assets, refinance existing debt, provide working capital, for lease acquisitions, capital for exploration and production operations, for development (including general corporate purposes of the drilling Borrower and completion of producing xxxxx), for the payment of its Subsidiaries and to pay fees and expenses incurred in connection associated with this Agreement and for any other general business purposesthe Transactions. The Credit Parties are not No Loan Party is engaged principally, or as one of its or their important activities, in the business of extending credit for the purpose, whether immediate, incidental or ultimate, of buying or carrying margin stock (within the meaning of Regulation T, U or X of the Board). No part of the proceeds of any Loan or Letter of Credit will be used for any purpose which violates the provisions of Regulations T, U or X of the Board.

Appears in 1 contract

Samples: Credit Agreement (Emerald Oil, Inc.)

Use of Loans and Letters of Credit. The proceeds of the Loans and the Letters of Credit shall be used for to provide working capital, for lease acquisitions, capital for exploration and production operations, for development (including the drilling and completion of producing xxxxx), to pay for the payment Acquisition and related expenses, the acquisition, exploration and development of fees additional Oil and expenses incurred in connection with this Agreement Gas Properties, and for any other general business corporate purposes. The Credit Parties Borrower and its Restricted Subsidiaries are not engaged principally, or as one of its or their important activities, in the business of extending credit for the purpose, whether immediate, incidental or ultimate, of buying or carrying margin stock (within the meaning of Regulation T, U or X of the Board). No part of the proceeds of any Loan or Letter of Credit will be used for any purpose which violates the provisions of Regulations T, U or X of the Board.

Appears in 1 contract

Samples: Senior Revolving Credit Agreement (Rosetta Resources Inc.)

Use of Loans and Letters of Credit. The proceeds of the Loans and the Letters of Credit shall be used for to provide working capital, for lease acquisitions, capital for exploration and production operationsoperations as set forth in the Development Plan, for development (including to refinance Debt under the drilling and completion of producing xxxxx)Existing Credit Agreement, for the payment of fees and expenses incurred to provide funding in connection with this Agreement the Acquisition and for any other general business corporate purposes. The Credit Parties Borrower and its Subsidiaries are not engaged principally, or as one of its or their important activities, in the business of extending credit for the purpose, whether immediate, incidental or ultimate, of buying or carrying margin stock (within the meaning of Regulation T, U or X of the Board). No part of the proceeds of any Loan or Letter of Credit will be used for any purpose which violates the provisions of Regulations T, U or X of the Board.

Appears in 1 contract

Samples: Credit Agreement (ABC Funding, Inc)

Use of Loans and Letters of Credit. The proceeds of the Loans and the Letters of Credit shall be used for to provide working capital, for lease acquisitions, capital for exploration and production operations, for development (including the drilling and completion of producing xxxxx), for the payment of fees and expenses incurred to provide funding in connection with this Agreement the Merger and for any other general business corporate purposes, including the issuance of letters of credit. The Credit Parties Borrower and its Subsidiaries are not engaged principally, or as one of its or their important activities, in the business of extending credit for the purpose, whether immediate, incidental or ultimate, of buying or carrying margin stock (within the meaning of Regulation T, U or X of the Board). No part of the proceeds of any Loan or Letter of Credit will be used for any purpose which violates the provisions of Regulations T, U or X of the Board.

Appears in 1 contract

Samples: Senior Revolving Credit Agreement (Petrohawk Energy Corp)

Use of Loans and Letters of Credit. The proceeds of the Loans and the Letters of Credit shall be used for to provide working capital, capital for lease acquisitions, for exploration and production operations, for development (including the drilling and completion of producing xxxxx), for the payment of fees and expenses incurred in connection with this Agreement and for any other general business corporate purposes. The Credit Parties Borrower and its Subsidiaries are not engaged principally, or as one of its or their important activities, in the business of extending credit for the purpose, whether immediate, incidental or ultimate, of buying or carrying margin stock (within the meaning of Regulation T, U or X of the Board). No part of the proceeds of any Loan or Letter of Credit will be used for any purpose which violates the provisions of Regulations T, U or X of the Board.

Appears in 1 contract

Samples: Credit Agreement (APEG Energy II, LP)

Use of Loans and Letters of Credit. The proceeds of the Loans and the Letters of Credit shall be used for to provide working capital, for lease acquisitions, capital for exploration and production operations, for development (including the drilling acquisitions of Oil and completion of producing xxxxx), for the payment of fees and expenses incurred in connection with this Agreement Gas Properties permitted hereunder and for any other general business purposescorporate, partnership or equivalent purpose, including to refinance Debt of the Existing Borrower under the Existing Credit Agreement. The Credit Parties are not No Group Member is engaged principally, or as one of its or their important activities, in the business of extending credit for the purpose, whether immediate, incidental or ultimate, of buying or carrying margin stock (within the meaning of Regulation T, U or X of the Board). No part of the proceeds of any Loan or Letter of Credit will be used for any purpose which violates the provisions of Regulations T, U or X of the Board.. 74 [AMENDED AND RESTATED CREDIT AGREEMENT]

Appears in 1 contract

Samples: Credit Agreement (Eclipse Resources Corp)

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