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

Use of Proceeds and Letters of Credit. The proceeds of the Loans and the Letters of Credit will be used for the purposes described in Section 5.14. No part of the proceeds of any Loan will be used, whether directly or indirectly, for any purpose that entails a violation of any of the regulations of the Board, including Regulations U and X.

Appears in 3 contracts

Samples: Credit Agreement (Health Net Inc), Credit Agreement (Health Net Inc), Credit Agreement (Health Net Inc)

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Use of Proceeds and Letters of Credit. The proceeds of the Loans and the Letters of Credit will be used for the purposes described in Section 5.14. No part of the proceeds of any Loan will be used, whether directly or indirectly, for any purpose that entails a violation of any of the regulations Regulations of the Board, including Regulations G, T, U and X.X. The proceeds of the Loans will be used only for the purposes of:

Appears in 3 contracts

Samples: Credit Agreement (Home Properties of New York Inc), Credit Agreement (Home Properties of New York Inc), Credit Agreement (Home Properties of New York Inc)

Use of Proceeds and Letters of Credit. The proceeds of the Loans and the Letters of Credit will be used only for the purposes described in Section 5.14herein. No part of the proceeds of any Loan and no Letter of Credit will be used, whether directly or indirectly, (i) for any purpose that entails a violation of any of the regulations Regulations of the Board, including Regulations T, U and X.X or (ii) to make any Acquisition other than Permitted Acquisitions.

Appears in 3 contracts

Samples: Credit Facility Agreement (Transcat Inc), Credit Facility Agreement (Transcat Inc), Credit Facility Agreement (Transcat Inc)

Use of Proceeds and Letters of Credit. The proceeds of the Loans and the Letters of Credit will be used only for the purposes described in Section 5.14proper business purposes. No part of the proceeds of any Loan and no Letter of Credit will be used, whether directly or indirectly, or for any purpose that entails a violation of any of the regulations Regulations of the Board, including Regulations T, U and X.

Appears in 2 contracts

Samples: Joinder Agreement (Material Sciences Corp), Joinder Agreement (Material Sciences Corp)

Use of Proceeds and Letters of Credit. The proceeds of the Loans and the Letters of Credit will be used for the purposes described in Section 5.14. No part of the proceeds of any Loan will be used, whether directly or indirectly, for any purpose that entails a violation of any of the regulations Regulations of the Board, including Regulations G, T, U and X.X. The Borrower shall use the proceeds of the Loans only for refinancing of existing Indebtedness, working capital needs and general corporate purposes.

Appears in 2 contracts

Samples: Credit Agreement (Home Properties Inc), Credit Agreement (Home Properties Inc)

Use of Proceeds and Letters of Credit. The proceeds of the Loans and the Letters of Credit will be used only for the purposes described in Section 5.14general corporate purposes. No part of the proceeds of any Loan will be used, whether directly or indirectly, for any purpose that entails a violation of any of the regulations Regulations of the Board, including Regulations G, U and X.X. Letters of Credit will be issued only to support obligations of the Company incurred in the ordinary course of business.

Appears in 2 contracts

Samples: Credit Agreement (Fort James Corp), Credit Agreement (Fort Howard Corp)

Use of Proceeds and Letters of Credit. The proceeds of the Loans and the Letters of Credit will be used for in accordance with the purposes described conditions set forth in Section 5.143.17. No part of the proceeds of any Loan will be used, whether directly or indirectly, for any purpose that entails a violation of any of the regulations Regulations of the Board, including Regulations T, U and X.X. Letters of Credit will be issued only to support lawful corporate purposes.

Appears in 1 contract

Samples: Credit Agreement (Radio One, Inc.)

Use of Proceeds and Letters of Credit. The proceeds of the Loans and the No Letters of Credit will be used for the purposes described in Section 5.14. No and no part of the proceeds of any Loan will be used, whether directly or indirectly, for any purpose that entails a violation of any of the regulations Regulations of the Board, including Regulations G, U and X.X. The proceeds of the Loans will be used only for the purposes of:

Appears in 1 contract

Samples: Pledge Agreement (Carey Diversified LLC)

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Use of Proceeds and Letters of Credit. The proceeds of the Loans and the Letters of Credit will be used for the purposes described in Section 5.14. No part of the proceeds of any Loan will be used, whether directly or indirectly, for any purpose that entails a violation of any of the regulations Regulations of the Board, including Regulations G, T, U and X.X. The Borrower shall use the proceeds of the Loans only for refinancing of existing Indebtedness, working capital needs and general corporate purposes. Table of Contents

Appears in 1 contract

Samples: Credit Agreement (Home Properties Inc)

Use of Proceeds and Letters of Credit. The proceeds of the Loans and the Letters of Credit will be used for the purposes described in Section 5.14. No part of the proceeds of any Loan nor any Letter of Credit will be used, whether directly or indirectly, for any purpose or in any manner that entails a violation of any of the regulations Regulations of the Board, including Regulations T, U and X.

Appears in 1 contract

Samples: Credit Agreement (Wolverine World Wide Inc /De/)

Use of Proceeds and Letters of Credit. The proceeds of ------------------------------------- the Loans Loans, and the Letters of Credit issued hereunder, will be used only for general corporate purposes of the purposes described in Section 5.14Company and its Subsidiaries. No part of the proceeds of any Loan will be used, whether directly or indirectly, for any purpose that entails a violation of any of the regulations Regulations of the Board, including Regulations U and X.

Appears in 1 contract

Samples: Credit Agreement (Griffon Corp)

Use of Proceeds and Letters of Credit. The proceeds of the Loans and the Letters of Credit will be used only for the purposes described in Section 5.14herein. No part of the proceeds of any Loan and no Letter of Credit will be used, whether directly or indirectly, (i) for any purpose that entails a violation of any of the regulations Regulations of the BoardBoard of Governors of the Federal Reserve System, including Regulations T, U and X.X or (ii) to make any Acquisition other than Permitted Acquisitions.

Appears in 1 contract

Samples: Credit Facility Agreement (Transcat Inc)

Use of Proceeds and Letters of Credit. The proceeds of the Loans ------------------------------------- Loans, and the Letters of Credit issued hereunder, will be used only for general corporate purposes of the purposes described in Section 5.14Company and its Subsidiaries. No part of the proceeds of any Loan will be used, whether directly or indirectly, for any purpose that entails a violation of any of the regulations Regulations of the Board, including Regulations U and X.

Appears in 1 contract

Samples: Credit Agreement (Griffon Corp)

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