Common use of Use of Loans Clause in Contracts

Use of Loans. The proceeds of the Loans shall be used -------------- to reduce existing Debt (including payment of accounts payable), pay the costs associated with the approved Development Projects set forth in the Development Plan, pay the commitment fee referenced in Section 2.04 and pay the other costs of the transactions related to this Agreement. The 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 Loans will be used for any purpose which violates the provisions of Regulations T, U or X of the Board.

Use of Loans. The proceeds of the Loans shall be used -------------- to reduce existing Debt (including payment of accounts payable), pay the costs associated with the approved Development Projects set forth in the Development Plan, pay the commitment fee fees referenced in Section 2.04 and 2.04, pay the other costs of the transactions related to this Agreement, and the other purposes set forth in Section 2.03. The 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 Loans will be used for any purpose which violates the provisions of Regulations T, U or X of the Board.

Use of Loans. The proceeds of the Loans shall be used -------------- to reduce existing Debt (including payment of accounts payable), pay the costs associated with the Acquisition, the approved Development Projects set forth in the Development Plan, pay the commitment fee referenced in Section 2.04 and 2.04, pay the other costs of the transactions related to this Agreement, and the other purposes set forth in Section 2.03. The 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 Loans will be used for any purpose which violates the provisions of Regulations T, U or X of the Board.

Use of Loans. The proceeds of the Loans shall be used -------------- to reduce existing Debt (including payment of accounts payable), pay the costs associated with the approved Development Projects provide working capital for exploration and production operations as set forth in the Development Plan, pay to refinance Debt under the commitment fee referenced in Section 2.04 Existing Credit Agreement, and pay for general corporate purposes, including, without limitation, to redeem the other costs of the transactions related to this AgreementTouradji Preferred Equity. The 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 Loans Loan will be used for any purpose which violates the provisions of Regulations T, U or X of the Board.