Use of Proceeds; Margin Regulations; Investment Company Act. (a) All proceeds of the Loans will be used for the purposes specified in Section 7.11.
Use of Proceeds; Margin Regulations; Investment Company Act. (a) The proceeds of all Credit Extensions have been used for the purposes set forth in Section 7.11.
Use of Proceeds; Margin Regulations; Investment Company Act. (a) The proceeds of the Loans will be used for working capital, capital expenditures and other general corporate purposes (including the repayment of Indebtedness). The proceeds of the Loans will not be used in any way which would violate the provisions of Regulation U or X of the Board of Governors of the Federal Reserve System. The Borrower is not engaged or will engage, principally or as one of its important activities, in the business of purchasing or carrying margin stock (within the meaning of Regulation U issued by the FRB), or extending credit for the purpose of purchasing or carrying margin stock.
Use of Proceeds; Margin Regulations; Investment Company Act. (a) No Loan Party or Subsidiary is engaged nor will it engage, principally or as one of its important activities, in the business of purchasing or carrying Margin Stock, or extending credit for the purpose of purchasing or carrying Margin Stock and no proceeds of any Loan or drawings under any Letter of Credit will be used for the purpose of purchasing or carrying Margin Stock, or any other purpose that violates Regulation U. The value of the Margin Stock at any time owned by the Loan Parties and their Subsidiaries at any time a Credit Extension constitutes a “purpose credit” (within the meaning of Regulation U) does not exceed twenty-five percent (25.00%) of the value of the assets of either of the Borrowers only or the Loan Parties and their Subsidiaries taken as a whole.
Use of Proceeds; Margin Regulations; Investment Company Act. (a) The proceeds of the Loans will be used for working capital, capital expenditures and other general corporate purposes (including, without limitation, the repayment of Indebtedness). The proceeds of the Loans will not be used in any way that would violate the provisions of Regulation U or Regulation X. No Borrower is engaged or will engage, principally or as one of its important activities, in the business of purchasing or carrying margin stock (within the meaning of Regulation U), or extending credit for the purpose of purchasing or carrying margin stock.
Use of Proceeds; Margin Regulations; Investment Company Act. (a) The Revolving Loans shall be used in accordance with Section 7.11. No portion of any Loan or Letter of Credit has been or will be used for the purpose of purchasing or carrying any Margin Stock. The Borrower is not engaged and will not engage, principally or as one of its important activities, in the business of purchasing or carrying Margin Stock or extending credit for the purpose of purchasing or carrying Margin Stock. Following the application of the proceeds of each Borrowing or drawing under each Letter of Credit, not more than 25% of the value of the assets (either of the Borrower only or of the Loan Parties and their Subsidiaries on a consolidated basis) will be Margin Stock.
Use of Proceeds; Margin Regulations; Investment Company Act. (a) The Borrower intends to use the proceeds of each Credit Extension solely for the purposes described in Section 6.11.
Use of Proceeds; Margin Regulations; Investment Company Act. (a) The Borrower shall use the proceeds of the Credit Extensions for general corporate purposes, including, without limitation, financing working capital, capital expenditures and other lawful purposes. The Borrower is not engaged or will not engage, principally or as one of its important activities, in the business of purchasing or carrying margin stock (within the meaning of Regulation U), or extending credit for the purpose of purchasing or carrying margin stock. No proceeds of any Credit Extension will be used for any purpose that would result in a violation of Regulation U.
Use of Proceeds; Margin Regulations; Investment Company Act. (a) The proceeds of all Credit Extensions have been used for the purposes set forth in Section 7.11. (b) The Borrower is not engaged and will not engage, principally or as one of its important activities, in the business of purchasing or carrying margin stock (within the meaning of Regulation U issued by the FRB), or extending credit for the purpose of purchasing or carrying margin stock. Following the application of the proceeds of each Borrowing or drawing under each Letter of Credit, not more than 25% of the value of the assets (either of the Borrower only or of the Borrower and its Subsidiaries on a consolidated basis) subject to the provisions of Section 8.01 or Section 8.05 or subject to any restriction contained in any agreement or instrument between the Borrower and any Lender or any Affiliate of any Lender relating to Indebtedness and within the scope of Section 9.01(e) will be margin stock.
Use of Proceeds; Margin Regulations; Investment Company Act. (a) The proceeds of the Loans will be used only for the purposes specified in the introductory statement to this Agreement and no part of the proceeds of any Loans will be used for “buying” or “carrying” any “margin stock” within the respective meanings of each of the quoted terms under Regulation U as now and from time to time hereafter in effect for any purpose that violates the provisions of the Regulations of the FRB. (b) None of the Borrower or any Guarantor is an “investment company” within the meaning of, or subject to regulation under, the Investment Company Act of 1940, as amended. 5.12
