Use of Proceeds; Margin. Regulations The Company will apply the proceeds of the sale of the Notes hereunder for the general corporate purposes of the Company and its Subsidiaries and as otherwise set forth in the section of the _______ entitled “__________”. No part of the proceeds from the sale of the Notes hereunder will be used, directly or indirectly, for the purpose of buying or carrying any margin stock within the meaning of Regulation U of the Board of Governors of the Federal Reserve System (12 CFR 221), or for the purpose of buying or carrying or trading in any Securities under such circumstances as to involve the Company in a violation of Regulation X of said Board (12 CFR 224) or to involve any broker or dealer in a violation of Regulation T of said Board (12 CFR 220). Margin stock does not constitute more than ___% of the value of the consolidated assets of the Company and its subsidiaries and the Company does not have any present intention that margin stock will constitute more than ___% of the value of such assets. As used in this Section, the terms “margin stock” and “purpose of buying or carrying” shall have the meanings assigned to them in said Regulation U.
Use of Proceeds; Margin. (a) The Borrower has used the proceeds of the Loan solely in accordance with Section 5.10.
(b) No part of the proceeds of the Loan have been used for the purpose, whether immediate, incidental or ultimate, of purchasing or carrying any “margin stock” (as such term is defined in Regulation U of the Board of Governors of the Federal Reserve System as now and from time to time hereafter in effect), or for the payment in full or in part of, or to provide credit support for, Indebtedness which was or is to be incurred for such purpose, or to extend credit or support credit extended to others for such purpose. No Obligor is engaged principally, or as one of its important activities, in the business of extending credit for the purpose, whether immediate, incidental or ultimate, of buying or carrying “margin stock”.
Use of Proceeds; Margin. Regulations The proceeds of the Loans are intended to be and shall be used solely for the purposes set forth in and permitted by Section 6.11, and are intended to be and shall be used in compliance with Section 7.6.
Use of Proceeds; Margin. (a) The proceeds of all Loans shall be utilized for the general corporate and working capital purposes of the Borrower.
(b) Neither the making of any Loan hereunder, nor the use of the proceeds thereof, will violate the provisions of Regulation T, U or X of the Board of Governors of the Federal Reserve System and no part of the proceeds of any Loan will be used to purchase or carry any Margin Stock or to extend credit for the purpose of purchasing or carrying any Margin Stock.
Use of Proceeds; Margin. Regulations The Company will apply the proceeds of the sale of the Notes to consummate the Acquisition. No part of the proceeds from the sale of the Notes hereunder will be used, directly or indirectly, for the purpose of buying or carrying any margin stock within the meaning of Regulation U of the Board of Governors of the Federal Reserve System (12 CFR 221), or for the purpose of buying or carrying or trading in any securities under such circumstances as to involve the Company in a violation of Regulation X of said Board (12 CFR 224) or to involve any broker or dealer in a violation of Regulation T of said Board (12 CFR 220). Margin stock does not constitute any of the consolidated assets of the Company and its Subsidiaries and the Company does not have any present intention to acquire margin stock. As used in this Section 5.13, the terms "margin stock" and "purpose of buying or carrying" shall have the meanings assigned to them in said Regulation U.
Use of Proceeds; Margin. Borrower is not engaged in the business of purchasing or selling margin stock Securities (as defined in Regulation U of the Board of Governors of the Federal Reserve System) or extending credit to others for the purpose of purchasing or carrying margin stock and, notwithstanding Section 5.8 hereof, no part of the proceeds of any borrowing hereunder will be used to purchase or carry any margin stock or for any other purpose which would violate any of the margin regulations of such Board of Governors.
Use of Proceeds; Margin. Regulations
(a) The Performance-Based Letters of Credit will only be (i) available on the Closing Date to backstop the performance-based letters of credit issued by ABN for the account of the Company under the Existing Credit Agreement and (ii) issued after the Closing Date for the account of the Company to support the general corporate purposes of the Company and its Subsidiaries, Joint Ventures and entities of which the Company, either directly or indirectly, owns 50% or less of the outstanding equity interests; provided that Performance-Based Letters of Credit will not be outstanding for the benefit of the Joint Ventures and entities of which the Company, either directly or indirectly, owns 50% or less of the outstanding equity interests in an aggregate face amount exceeding $3,000,000 at any time.
(b) The Financial Letter of Credit will only be available on the Closing Date to backstop the financial letters of credit issued by ABN for the account of the Company under the Existing Credit Agreement.
(c) The Company will apply the proceeds of the sale of the Notes (i) to repay the loans under the Existing Credit Agreement in their entirety, (ii) for working capital and (iii) for other corporate purposes. The application of such proceeds will not result in a violation of any financial assistance laws under any Applicable Jurisdiction. The Letters of Credit hereunder will not be used, directly or indirectly, for the purpose of buying or carrying any margin stock within the meaning of Regulation U of the Board of Governors of the Federal Reserve System (12 CFR 221), or for the purpose of buying or carrying or trading in any securities under such circumstances as to involve any Obligor in a violation of Regulation X of said Board (12 CFR 224) or to involve any broker or dealer in a violation of Regulation T of said Board (12 CFR 220). Margin stock does not constitute more than 1% of the value of the consolidated assets of any Obligor and its Subsidiaries and no Obligor has any present intention that margin stock will constitute more than 1% of the value of such assets. As used in this Section, the terms “margin stock” and “purpose of buying or carrying” shall have the meanings assigned to them in said Regulation U. UTi Worldwide Inc. Letter of Credit Agreement
Use of Proceeds; Margin. Regulations 100110 5.06 Governmental Approvals 100110 5.07 Investment Company Act 101110 5.08 True and Complete Disclosure 101110 5.09 Financial Condition; Financial Statements 101111 5.10 Security Interests 102112 5.11 Compliance with ERISA 102112 5.12 Subsidiaries 103113 5.13 Intellectual Property 103113 5.14 Compliance with Statutes, Agreements, Etc 103113 5.15 Environmental Matters 103113 5.16 Properties 104114 5.17 Labor Relations 104114 5.18 Tax Returns and Payments 104114 5.19 Insurance 104114 5.20 Sanctions 104114 5.21 Anti-Corruption Laws 105115 5.22 EEAAffected Financial Institution Status 105115 ARTICLE VI AFFIRMATIVE COVENANTS 105115 6.01 Information Covenants 105115 6.02 Books, Records and Inspections 107117 6.03 Insurance 108118 6.04 Payment of Taxes 108118 6.05 Preservation of Existence 108118 6.06 Compliance with Statutes, Etc 108118 6.07 Compliance with Environmental Laws 109119 6.08 ERISA 109119
Use of Proceeds; Margin. Regulations Xxxxxx is not engaged principally, or as one of its important activities, in the business of extending credit for the purpose of purchasing or carrying margin stock (within the meaning of Regulation U) and no part of the proceeds of the sale of the Notes or Warrants will be used to acquire any margin stock.
Use of Proceeds; Margin. Regulations (a) The Letters of Credit will only (i) be available on the Closing Date to backstop the performance-based letters of credit issued by ABN for the account of the Company under the Existing Credit Agreement, (ii) consist of the Existing Letters of Credit, each of which shall be deemed to be issued hereunder, and (iii) with respect to new performance-based Letters of Credit issued after the Closing Date for the account of the Company, support the general corporate purposes of the Company and its Subsidiaries, Joint Ventures and entities of which the Company, either directly or indirectly, owns 50% or less of the outstanding equity interests; provided that Letters of Credit will not be outstanding for the benefit of the Joint Ventures and entities of which the Company, either directly or indirectly, owns 50% or less of the outstanding equity interests in an aggregate face amount exceeding $3,000,000 at any time; provided further that for the avoidance of doubt, Letters of Credit will only be available in an aggregate face amount up to the Maximum Draw Amount. UTi Worldwide Inc. Nedbank Letter of Credit Agreement
