Use of Proceeds and Revenues. (a) Use the proceeds of the Loans and request the issuance of Letters of Credit, only for the purposes specified in Section 4.16; provided, that on and after the Amended and Restated Effective Date, no more than an aggregate of $2,000,000 of proceeds of extensions of credit hereunder shall be applied toward Project Costs with respect to the Phase I Project. For purposes of this Section 6.11(a), until the Amended and Restated Disbursement Agreement Effective Date, (x) all Advances made from the Bank Proceeds Account, the 2014 Notes Proceeds Account and from the Revolving Credit Facility in respect of Project Costs related to the Phase I Project shall be deemed to have been drawn in accordance with the ratio set forth in Section 2.4.1(b) of the Disbursement Agreement and (y) the Company may allocate Advances from the Company’s Funds Account or the Company’s Concentration Account between the Phase I Project and the Phase II Project at its discretion.
(b) Deposit in a Funding Account and, until utilized, maintain on deposit in a Funding Account, all cash and cash equivalents other than (i) On-Site Cash, (ii) cash and cash equivalents required pursuant to Nevada Gaming Laws or by Nevada Gaming Authorities to be deposited into Gaming Reserves, and (iii) cash or cash equivalents that in the ordinary course of business are not maintained on deposit in a bank or other deposit or investment account pending application toward working capital or other general corporate purposes of the Loan Parties.
Use of Proceeds and Revenues. 16.1 Use the proceeds of each of the Facilities only for the purposes specified or allowed in this Agreement and the Facility Agreement relating to such Facility.
16.2 Ensure that all of its funds and all other amounts received by it are utilised, and all of its accounts are established and funded, in accordance with the provisions of Schedule 6 (Accounts) and as otherwise provided by this Agreement and that it otherwise complies with Schedule 6 (Accounts).
Use of Proceeds and Revenues. (a) Use the proceeds of the Loans and request the issuance of Letters of Credit, only for the purposes specified in Section 4.16; provided, that (i) no more than [$963,200,000] of proceeds of extensions of credit hereunder shall be available for application toward Project Costs and (ii) in addition to and without duplication of proceeds of extensions of credit available under clause (i) above with respect to Project Costs, no more than an additional [$33,800,000] of proceeds of extensions of credit hereunder shall be available during the Additional Completion Period for application toward Debt Service due and payable during the Additional Completion Period.
(b) Subject to subsection (c) below, deposit in a Funding Account all Project Revenues, other than On-Site Cash, (i) received by the Borrower Capital Corp. or Xxxx Design after the Completion Date or (ii) received by any other Loan Party at any time; provided, that, in no event shall (A) funds deposited in a Funding Account be (x) transferred to any "Company Account" (as defined in the Disbursement Agreement) or (y) subject to Section 2.5.5 of the Disbursement Agreement, used to pay Project Costs or (B) subject to Section 2.5.5 of the Disbursement Agreement, On-Site Cash (other than to the extent reflecting proceeds of advances made pursuant to the Disbursement Agreement for the payment of Project Costs) be used to pay Project Costs.
(c) Apply (whether directly or through an equity contribution to the Borrower) all Net Cash Proceeds, Excess Cash Flow, Extraordinary Deposit Receipts, Loss Proceeds, Liquidated Damages, Insurance Proceeds and Eminent Domain Proceeds received by it in accordance with Sections 2.12, 2.18 and 2.24.
Use of Proceeds and Revenues. Each Relevant Obligor shall (and the Company shall ensure that each member of the Group will):
(a) use the proceeds of each of the Facilities only for the purposes specified or allowed in this Agreement; and
(b) ensure that all of its funds, Revenues and all other amounts received by it are utilised, and all of its accounts are established and funded (and any other accounts maintained by it are closed), in accordance with the provisions of Schedule 7 (Accounts) and as otherwise provided by this Agreement and that it otherwise complies with Schedule 7 (Accounts).
Use of Proceeds and Revenues. Each Obligor shall:
(a) use the proceeds of each of the Facilities only for the purposes specified or allowed in this Agreement and ensure that all of its funds, Revenues and all other amounts received by or derived by it are utilised, and all of its accounts are established and funded, in accordance with the provisions of Schedule 7 (Accounts), the Term Loan Facility Disbursement Agreement, the Services and Right to Use Agreement and the Reimbursement Agreement (as applicable) and as otherwise provided by this Agreement and that it otherwise complies with Schedule 7 (Accounts) and the Term Loan Facility Disbursement Agreement (as applicable); and
(b) each Obligor shall comply with the requirements set forth in Schedule 7 (Accounts).
Use of Proceeds and Revenues. (a) Use the proceeds of the Loans and request the issuance of Letters of Credit, only for the purposes specified in Section 4.16; provided, that (i) no more than an aggregate of $276,000,000 of proceeds of extensions of credit hereunder shall be applied toward Project Costs with respect to the Phase I Project, (ii) no more than an aggregate of $122,000,000 of proceeds of extensions of credit hereunder shall be applied toward the funding of the Macau Loan and (iii) the aggregate proceeds of extensions of credit hereunder applied toward Project Costs with respect to the Phase II Project prior to the later of the Phase II Approval Date and the Phase I Opening Date shall not exceed at any time the difference between (A) $100,000,000 and (B) the aggregate proceeds of the 2014 Notes applied toward Project Costs with respect to the Phase II Project at such time (it being agreed that any extensions of credit hereunder or proceeds of the 2014 Notes applied on Closing Date in order to consummate the Refinancing Transaction shall not be deemed expended in furtherance of Project Costs with respect to the Phase II Project). For purposes of Section 6.11(a)(i), (x) until such time as the 2014 Notes Proceeds Account has been Exhausted, all Advances made from the Bank Proceeds Account, the 2014 Notes Proceeds Account and from the Revolving Credit Facility in respect of Project Costs related to the Phase I Project shall be deemed to have been drawn in accordance with the ratio set forth in Section 2.4.1(b) of the Disbursement Agreement and (y) the Company may allocate Advances from the Company's Funds Account between the Phase I Project and the Phase II Project at its discretion.
(b) Deposit in a Funding Account and, until utilized, maintain on deposit in a Funding Account, all cash and cash equivalents other than (i) On-Site Cash, (ii) cash and cash equivalents required pursuant to Nevada Gaming Laws or by Nevada Gaming Authorities to be deposited into Gaming Reserves, (iii) cash or cash equivalents to be applied to Project Costs for the Phase II Project pursuant to Section 5.1.4 of the Disbursement Agreement and (iv) cash or cash equivalents that in the ordinary course of business are not maintained on deposit in a bank or other deposit or investment account pending application toward working capital or other general corporate purposes of the Loan Parties.
Use of Proceeds and Revenues. No portion of the proceeds of the Loan shall be used by Borrowers in any manner that might cause the borrowing or the application of such proceeds to violate Regulation D, Regulation T or Regulation X or any other regulation of CONA – Healthcare Trust, Inc. 92119388.8 the Board of Governors of the Federal Reserve System or to violate the Securities Act of 1933 or the Securities Exchange Act of 1934. Revenues and other proceeds from the Projects received by Borrowers shall be applied to the Obligations then due and owing in any month under the Loan Documents and Environmental Indemnity Agreement, actual operating expenses relating to the Projects of the type included in the definition of “Adjusted Expenses”, or other budgeted capital improvements, repairs or replacements for the Projects before distribution by Borrowers to members, partners or shareholders, as applicable, or any other Borrower Party. No distribution may be made by any Borrower to its members, partners or shareholders, as applicable, or to any other Borrower Party during any period in which (a) an Event of Default is in existence or (b) Borrowers are required to deposit Excess Cash Flow into the Project Yield Fund.
Use of Proceeds and Revenues. The Borrower shall use the proceeds of the Loan solely for the purposes set out in Section 2.4 including to make a loan of the principal amount of the Loan (net of the Upfront Fee to the extent not already paid) to Group under the Intercompany Loan Agreement on the Funding Date. Unless otherwise agreed by the Lender or required under this Agreement, the Borrower shall deposit or cause to be paid in the Account all Revenues (including all Distributions received from Opco) and all Net Sale Proceeds from the sale of any Opco Shares (including any withholding, deduction, holdback, reserve or amounts held in escrow released to the Borrower). For greater certainty, all payments of principal or interest under the Intercompany Loan Agreement may be deposited in any other account of the Borrower.
Use of Proceeds and Revenues. 16.1 Use the proceeds of each of the Facilities only for the purposes specified or allowed in this Agreement and the Facility Agreement relating to such Facility.
16.2 Ensure that all of its funds and those of any other Obligor and all other amounts received by it or any other Obligor (other than any Subconcession proceeds or amounts received by the Company in respect of any Excluded Subsidiaries or Excluded Projects or its entry into, or performance of its obligations under, any Resort Management Agreement) are deposited into any Account or combination of Accounts and otherwise in accordance with the provisions of this Agreement and that it and each other Obligor otherwise complies with Schedule 6 (Accounts).
Use of Proceeds and Revenues. No portion of the proceeds of the Loan shall be used by Borrowers in any manner that might cause the borrowing or the application of such proceeds to violate Regulation D, Regulation T or Regulation X or any other regulation of the Board of Governors of the Federal Reserve System or to violate the Securities Act of 1933 or the Securities Exchange Act of 1934. Revenues and other proceeds from the Projects received by Borrowers shall be applied to the Obligations due under the Loan Documents, actual operating expenses relating to the Projects of the type included in the definition of “Adjusted Expenses”, or other budgeted capital improvements, repairs or replacements for the Projects before distribution by Borrowers to members, partners or shareholders, as applicable, or to any other Borrower Party.
