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 will be used for general corporate purposes, including to refinance Indebtedness under the Existing Credit Agreement. 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 T, U and X. Letters of Credit will be issued only to support obligations of the Parent and Subsidiaries incurred in the ordinary course of business.

Appears in 6 contracts

Samples: Revolving Credit Agreement (American Axle & Manufacturing Holdings Inc), Revolving Credit Agreement (American Axle & Manufacturing Holdings Inc), Credit Agreement (American Axle & Manufacturing Holdings Inc)

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Use of Proceeds and Letters of Credit. The proceeds of the Loans will be used to repay outstanding bank debt and for general corporate purposes, including to refinance Indebtedness under the Existing Credit Agreement. 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 T, U and X. Letters of Credit will be issued only to support obligations of the Parent and Subsidiaries incurred in the ordinary course of business.X.

Appears in 4 contracts

Samples: 5 Year Revolving Credit Agreement (Pioneer Natural Resources Co), Credit Agreement (Newfield Exploration Co /De/), 5 Year Revolving Credit Agreement (Pioneer Natural Resources Co)

Use of Proceeds and Letters of Credit. The proceeds of the Loans will be used only for general corporate purposes, including to refinance Indebtedness under the Existing Credit Agreementincluding, but not limited to, acquisitions permitted hereby, refinancing of indebtedness and working capital. 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 T, U and X. Letters of Credit will be issued only to support obligations of the Parent and Subsidiaries incurred in the ordinary course of business.X.

Appears in 3 contracts

Samples: Credit Agreement (Scansource Inc), Credit Agreement (Scansource Inc), Credit Agreement (Scansource Inc)

Use of Proceeds and Letters of Credit. The proceeds of the Loans will be used only for general corporate purposespurposes of the Administrative Borrower and its Subsidiaries, including to refinance Indebtedness under the Existing Credit Agreementstock repurchases and acquisitions. 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 T, U and X. Letters of Credit will be issued only to support obligations of the Parent and Subsidiaries incurred in the ordinary course of business.X.

Appears in 3 contracts

Samples: Credit Agreement, Credit Agreement (Idexx Laboratories Inc /De), Credit Agreement (Idexx Laboratories Inc /De)

Use of Proceeds and Letters of Credit. The proceeds of the Loans will be used only for general corporate purposes, including to refinance Indebtedness under including, but not limited to, non-hostile acquisitions otherwise permitted hereby, the Existing Credit Agreementrefinancing of indebtedness and working capital. 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. Letters of Credit will be issued only to support obligations of the Parent and Subsidiaries incurred in the ordinary course of businessbusiness operations of the Borrower and its Subsidiaries.

Appears in 2 contracts

Samples: Credit Agreement (Citrix Systems Inc), Credit Agreement (Citrix Systems Inc)

Use of Proceeds and Letters of Credit. The proceeds of the Loans will be used for general corporate purposes, including to refinance Indebtedness prepay all loans under the Existing Credit AgreementAgreement outstanding on the Effective Date. 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 T, U and X. Letters of Credit will be issued only to support obligations of the Parent and Subsidiaries incurred in the ordinary course of businessfor general corporate purposes.

Appears in 2 contracts

Samples: Credit Agreement (Advance Auto Parts Inc), Credit Agreement (Advance Auto Parts Inc)

Use of Proceeds and Letters of Credit. The proceeds of the Loans will be used only to refinance existing Indebtedness and for other working capital needs and general corporate purposes, including to refinance Indebtedness under the Existing Credit Agreement. 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 T, U and X. Letters of Credit will be issued only to support obligations of the Parent and Subsidiaries incurred in the ordinary course of business.X.

Appears in 2 contracts

Samples: Credit Agreement (Smith International Inc), Credit Agreement (Smith International Inc)

Use of Proceeds and Letters of Credit. The Will use the proceeds of the Loans will be used only to refinance existing Indebtedness and for general other lawful corporate purposes, including to refinance Indebtedness under the Existing Credit Agreement. 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 TG, U and X. Letters of Credit will be issued only to support obligations transactions of the Parent Borrower and its Subsidiaries incurred in the ordinary course of business.

Appears in 2 contracts

Samples: Credit Agreement (Leggett & Platt Inc), Credit Agreement (Leggett & Platt Inc)

Use of Proceeds and Letters of Credit. The proceeds of the Loans will be used only for general corporate purposes, including to including, without limitation, refinance Indebtedness under the Existing Credit Agreementof existing debt, working capital, capital expenditures, and acquisitions. 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 T, U and X. Letters of Credit will be issued only to support obligations general corporate purposes, including, without limitation, refinance of the Parent existing debt, working capital, and Subsidiaries incurred in the ordinary course of businesscapital expenditures.

Appears in 2 contracts

Samples: Credit Agreement (Cornell Companies Inc), Credit Agreement (Cornell Companies Inc)

Use of Proceeds and Letters of Credit. The proceeds of the Loans and other Credit Events will be used for general lawful corporate purposes, including to refinance Indebtedness under purposes of the Existing Credit AgreementBorrower 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 of the Board, including Regulations T, U and X. Letters of Credit will be issued only to support obligations of the Parent and Subsidiaries incurred in the ordinary course of business.X.

Appears in 2 contracts

Samples: Revolving Credit Agreement (Viatris Inc), Revolving Credit Agreement (Viatris Inc)

Use of Proceeds and Letters of Credit. The proceeds of the Loans will be used only for the general corporate purposes, purposes (including to refinance Indebtedness under share repurchases and Permitted Acquisitions) of the Existing Credit AgreementBorrower and its Restricted 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 of the Board, including Regulations T, U and X. Letters of Credit will be issued only to in support obligations of the Parent and Subsidiaries incurred in the ordinary course of businessforegoing purposes.

Appears in 2 contracts

Samples: Credit Agreement (Groupon, Inc.), Credit Agreement (Groupon, Inc.)

Use of Proceeds and Letters of Credit. The proceeds of the Loans will be used only for general corporate purposespurposes of the Administrative Borrower and its Subsidiaries, including to refinance Indebtedness stock repurchases, acquisitions and the refinancing of other indebtedness (including any indebtedness and any other amounts outstanding under the Existing Credit Agreement). 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 T, U and X. Letters of Credit will be issued only to support obligations of the Parent and Subsidiaries incurred in the ordinary course of business.X.

Appears in 2 contracts

Samples: Credit Agreement (Idexx Laboratories Inc /De), Credit Agreement (Idexx Laboratories Inc /De)

Use of Proceeds and Letters of Credit. The proceeds of the Loans will be used for general corporate purposes, including to refinance existing Indebtedness under of the Existing Credit AgreementBorrower and its Subsidiaries and to pay related fees and expenses. No part of the proceeds of any Loan will be used, whether directly or indirectly, to purchase or carry Margin Stock or for any purpose that entails a violation of any of the Regulations of the Board, including Regulations T, U and X. Letters of Credit will be issued only to support obligations of the Parent and Subsidiaries incurred in the ordinary course of businessbusiness operations of the Borrower and its Subsidiaries.

Appears in 2 contracts

Samples: Credit Agreement (Manitowoc Co Inc), Credit Agreement (Manitowoc Co Inc)

Use of Proceeds and Letters of Credit. The proceeds of the Loans will be used for refinancing certain Indebtedness in existence on the Effective Date, working capital needs and for other general corporate purposes, including to refinance Indebtedness under purposes of the Existing Credit AgreementBorrower and its Subsidiaries in the ordinary course of business. No part of the proceeds of any Loan and no Letter of Credit will be used, whether directly or indirectly, for any purpose that entails a violation of any of the Regulations of the Board, including Regulations T, U and X. Letters of Credit will be issued only to support obligations of the Parent and Subsidiaries incurred in the ordinary course of business.X.

Appears in 1 contract

Samples: Credit Agreement (Asset Acceptance Capital Corp)

Use of Proceeds and Letters of Credit. The proceeds of the Loans will be used only for general corporate purposes, including to refinance refinancing the Indebtedness under the Existing Credit AgreementAgreement and for other general corporate purposes of the Borrower and its Subsidiaries in the ordinary course of business. 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 T, U and X. Letters of Credit will be issued only to support obligations of the Parent and Subsidiaries incurred in the ordinary course of business.X.

Appears in 1 contract

Samples: Credit Agreement (Heidrick & Struggles International Inc)

Use of Proceeds and Letters of Credit. The proceeds of the Loans will be used only for refinancing existing indebtedness, general corporate purposes, including to refinance Indebtedness under working capital of and future acquisitions by the Existing Credit AgreementBorrower 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 of the Board, including Regulations T, U and X. Letters Each Letter of Credit will be issued only to support obligations of the Parent and Subsidiaries incurred a transaction that is entered into in the ordinary course of the Borrower’s or any of its Subsidiaries’ business.

Appears in 1 contract

Samples: Credit Agreement (Alon USA Energy, Inc.)

Use of Proceeds and Letters of Credit. The proceeds of the Loans will be used only for general corporate purposespurposes of the Consolidated Entities (including working capital, including to refinance Indebtedness under the Existing Credit Agreementcapital expenditures and acquisitions). No part of the proceeds of any Loan Loan, and no Letter of Credit, will be used, whether directly or indirectly, for any purpose that entails a violation of any of the Regulations of the Board, including Regulations T, U and X. Letters of Credit will be issued only to support obligations of the Parent and Subsidiaries Borrower incurred in the ordinary course of business.

Appears in 1 contract

Samples: Credit Agreement (Lydall Inc /De/)

Use of Proceeds and Letters of Credit. The proceeds of the Loans will be used only to refinance Borrower’s existing Indebtedness and for general corporate purposes, including to refinance Indebtedness under purposes of the Existing Credit AgreementBorrower 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 of the Board, including Regulations T, U and X. Letters Each Letter of Credit will be issued only to support obligations of the Parent and Subsidiaries incurred a transaction that is entered into in the ordinary course of the Borrower’s or any of its Subsidiaries’ business.

Appears in 1 contract

Samples: Credit Agreement (Digital Generation Systems Inc)

Use of Proceeds and Letters of Credit. The proceeds of the Loans will be used for refinancing certain Indebtedness in existence on the Effective Date and to complete the Recapitalization, working capital needs and for other general corporate purposes, including to refinance Indebtedness under purposes of the Existing Credit AgreementBorrower and its Subsidiaries in the ordinary course of business. No part of the proceeds of any Loan and no Letter of Credit will be used, whether directly or indirectly, for any purpose that entails a violation of any of the Regulations of the Board, including Regulations T, U and X. Letters of Credit will be issued only to support obligations of the Parent and Subsidiaries incurred in the ordinary course of business.X.

Appears in 1 contract

Samples: Credit Agreement (Asset Acceptance Capital Corp)

Use of Proceeds and Letters of Credit. The proceeds of the Revolving Loans and the Term Loans will be used to refinance the Existing Credit Agreement and for general corporate purposes, including to refinance Indebtedness under the Existing Credit Agreement. 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 T, U and X. Letters of Credit will be issued only to support obligations of the Parent and Subsidiaries incurred in the ordinary course of businessfor general corporate purposes.

Appears in 1 contract

Samples: Credit Agreement (Harris Interactive Inc)

Use of Proceeds and Letters of Credit. The proceeds of the Loans will be used for general corporate purposes, including to refinance Indebtedness any borrowings outstanding under the Existing Credit AgreementAgreement and for general corporate purposes of the Borrowers. 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 T, U and X. Letters of Credit will be issued only to support payment obligations of either Borrower or any of the Parent and Subsidiaries incurred in the ordinary course of business.

Appears in 1 contract

Samples: Credit Agreement (Freeport McMoran Copper & Gold Inc)

Use of Proceeds and Letters of Credit. The proceeds of the Loans will be used for general corporate purposespurposes in the ordinary course of business, including to refinance Indebtedness under the Existing Credit Agreementincluding, without limitation, refinancing existing Indebtedness. 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 Regulation U or X of the Board, including Regulations T, U and X. . Letters of Credit will be issued only to support obligations of the Parent and Subsidiaries incurred in the ordinary course of business.

Appears in 1 contract

Samples: Credit Agreement (Oakley Inc)

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Use of Proceeds and Letters of Credit. The proceeds of the Loans will be used for general corporate purposes, including to refinance Indebtedness under Permitted Acquisitions of the Existing Credit AgreementBorrower 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 of the Board, including Regulations T, U and X. Letters of Credit will be issued only to in support obligations of the Parent and Subsidiaries incurred in the ordinary course of businessforegoing permitted purposes.

Appears in 1 contract

Samples: Credit Agreement (Raven Industries Inc)

Use of Proceeds and Letters of Credit. The proceeds of the Loans will be used only for general corporate purposespurposes of the Consolidated Entities (including working capital, including to refinance Indebtedness under the Existing Credit Agreementcapital expenditures and acquisitions). No part of the proceeds of any Loan Loan, and no Letter of Credit, will be used, whether directly or indirectly, for any purpose that entails a violation of any of the 57 Regulations of the Board, including Regulations T, U and X. Letters of Credit will be issued only to support obligations of the Parent and Subsidiaries Borrower incurred in the ordinary course of business.

Appears in 1 contract

Samples: Credit Agreement (Lydall Inc /De/)

Use of Proceeds and Letters of Credit. The proceeds of the Loans and Letter of Credit will be used only for refinancing existing Indebtedness and for general corporate purposes, including to refinance Indebtedness under the Existing Credit Agreement. 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 T, U and X. Letters of Credit will be issued only to support obligations of the Parent and Subsidiaries incurred in the ordinary course of business.X.

Appears in 1 contract

Samples: Credit Agreement (Marcus Corp)

Use of Proceeds and Letters of Credit. The proceeds of the Loans will be used only for general corporate purposes, including to refinance Indebtedness under the Existing Credit Agreementrepayment of intercompany obligations in connection with the Spin-Off and acquisitions. 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 T, U and X. Letters of Credit will be issued only to support obligations of the Parent and Subsidiaries incurred in the ordinary course of business.X.

Appears in 1 contract

Samples: Credit Agreement (Nielsen Media Research Inc)

Use of Proceeds and Letters of Credit. The proceeds of the Loans will be used for general corporate purposes, including only to refinance repay Indebtedness outstanding under the Existing Credit AgreementAgreement and for general corporate and working capital purposes (including the acquisition of Oil and Gas Properties). 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 T, U and X. Letters of Credit will be issued only to support obligations general corporate purposes of the Parent and Subsidiaries incurred in the ordinary course of businessBorrower.

Appears in 1 contract

Samples: Credit Agreement (Ultra Petroleum Corp)

Use of Proceeds and Letters of Credit. The proceeds of the Loans will be used for general corporate purposespurposes of the Borrower and its Subsidiaries, including including, without limitation, to refinance Indebtedness under repurchase the Existing Credit AgreementBorrower’s Capital Stock and debentures, to finance investments and acquisitions and to provide working capital to the Borrower 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 of the Board, including Regulations T, U and X. Letters of Credit will be issued only to support obligations of the Parent and Subsidiaries incurred in the ordinary course of business.X.

Appears in 1 contract

Samples: Credit Agreement (Borgwarner Inc)

Use of Proceeds and Letters of Credit. The proceeds of the Loans will be used only to refinance existing Indebtedness, to consummate mergers and Acquisitions permitted by this Agreement and for general corporate purposes, including to refinance Indebtedness under the Existing Credit Agreement. 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 T, U and X. Letters of Credit will be issued only to support obligations of the Parent and Subsidiaries incurred in the ordinary course of business.X.

Appears in 1 contract

Samples: Credit Agreement (Spartan Motors Inc)

Use of Proceeds and Letters of Credit. The proceeds of the Loans will be used only to refinance existing Indebtedness, to consummate the acquisition of Utilimaster Holdings, Inc. and for general corporate purposes, including to refinance Indebtedness under the Existing Credit Agreement. 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 T, U and X. Letters of Credit will be issued only to support obligations of the Parent and Subsidiaries incurred in the ordinary course of business.X.

Appears in 1 contract

Samples: Credit Agreement (Spartan Motors Inc)

Use of Proceeds and Letters of Credit. The proceeds of the Loans will be used only for general corporate purposespurposes of the Borrowers, including (i) to refinance repay existing intercompany indebtedness and Indebtedness outstanding under the Existing Credit Agreement, (ii) to consummate the Acquisition Transactions in accordance with the terms of the Acquisition Documents, (iii) to pay fees and expenses in connection with the foregoing and (iv) to finance future acquisitions. 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 T, U and X. Letters of Credit will be issued only to support obligations of the Parent and Subsidiaries incurred in the ordinary course of business.whether

Appears in 1 contract

Samples: Credit Agreement (General Cable Corp /De/)

Use of Proceeds and Letters of Credit. The proceeds of the Loans will be used only for general corporate purposespurposes of the Borrower and its Subsidiaries, including to refinance Indebtedness under the refinancing of the Existing Credit Agreement. 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 T, U and X. Letters of Credit will be issued only to support obligations of the Parent and Subsidiaries incurred in the ordinary course of businessgeneral corporate purposes.

Appears in 1 contract

Samples: Credit Agreement (Robbins & Myers, Inc.)

Use of Proceeds and Letters of Credit. The proceeds of the Loans will be used used, and Letters of Credit will be issued, only for general corporate purposes, purposes of the Company and its Subsidiaries including to refinance Indebtedness under the Existing Credit Agreementacquisitions. 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 T, U and X. Letters of Credit will be issued only X as in effect from time to support obligations of the Parent and Subsidiaries incurred in the ordinary course of businesstime.

Appears in 1 contract

Samples: Credit Agreement (Brunswick Corp)

Use of Proceeds and Letters of Credit. The proceeds of the Loans will be used only for general corporate purposespurposes of the Company and its Subsidiaries, including to refinance Indebtedness under the Existing Credit Agreementrefinancing of existing bilateral lines of credit. 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 T, U and X. Letters of Credit will be issued only to in support obligations of the Parent and Subsidiaries incurred in the ordinary course of businessforegoing purposes.

Appears in 1 contract

Samples: Credit Agreement (Molex Inc)

Use of Proceeds and Letters of Credit. The proceeds of the Loans will be used only to refinance existing Indebtedness and for other working capital needs and general corporate purposes, including capital expenditures relating to refinance Indebtedness under the Existing Credit AgreementCompressors. 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 T, U and X. Letters of Credit will be issued only to support obligations of the Parent and Subsidiaries incurred in the ordinary course of business.X.

Appears in 1 contract

Samples: Credit Agreement (Compressco Inc)

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