Common use of Use of Proceeds; Margin Stock Clause in Contracts

Use of Proceeds; Margin Stock. None of the proceeds of the Loan will be used to purchase or carry any "margin stock" (as defined under Regulation U of the Board of Governors of the Federal Reserve System, as in effect from time to time), and no portion of the proceeds of the Loan will be extended to others for the purpose of purchasing or carrying margin stock. None of the transactions contemplated in this Agreement (including, without limitation, the use of the proceeds from the Loan) will violate or result in the violation of Section 7 of the Securities Exchange Act of 1934, as amended, or any regulations issued pursuant thereto, including, without limitation, Regulations G, T, U and X of the Board of Governors of the Federal Reserve System, 12 C.F.R. Part 11. The proceeds of the Loan will be disbursed only for the purposes set forth in Section 2.1 hereof.

Appears in 3 contracts

Samples: Loan and Security Agreement (Equivest Finance Inc), Loan and Security Agreement (Equivest Finance Inc), Loan and Security Agreement (Equivest Finance Inc)

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Use of Proceeds; Margin Stock. None of the proceeds of the Loan will be used to purchase or carry any "margin stock" stock (as defined under Regulation U of the Board of Governors of the Federal Reserve System, as in effect from time to time), and no portion of the proceeds of the Loan will be extended to others for the purpose of purchasing or carrying margin stock. None of the transactions contemplated in this the Agreement (including, without limitation, the use of the proceeds from the Loan) will violate or result in the violation of Section 7 of the Securities Exchange Act of 1934, as amended, or any regulations issued pursuant thereto, including, without limitation, Regulations G, T, U and X of the Board of Governors of the Federal Reserve System, 12 C.F.R. Part C.F.R., Chapter 11. The proceeds of the Loan will be disbursed only for the purposes set forth in Section 2.1 hereof.

Appears in 2 contracts

Samples: Loan, Security and Agency Agreement (Silverleaf Resorts Inc), Loan and Security Agreement (Silverleaf Resorts Inc)

Use of Proceeds; Margin Stock. None of the proceeds of the Loan will be used to purchase or carry any "margin stock" (as defined under Regulation U of the Board of Governors of the Federal Reserve System, as in effect from time to time), and no portion of the proceeds of the Loan will be extended to others for the purpose of purchasing or carrying margin stock. None of the transactions contemplated in this Agreement (including, without limitation, the use of the proceeds from of the Loan) will violate or result in the violation of Section 7 of the Securities Exchange Act of 1934, as amended, or any regulations issued pursuant thereto, including, without limitation, Regulations G, T, U and X of the Board of Governors of the Federal Reserve System, 12 C.F.R. Part 11. The proceeds of the Loan will be disbursed only for the purposes set forth in Section 2.1 hereof.

Appears in 2 contracts

Samples: Loan and Security Agreement (Equivest Finance Inc), Loan and Security Agreement (Equivest Finance Inc)

Use of Proceeds; Margin Stock. None of the proceeds of the Loan will be used to purchase or carry any "margin stock" (as defined under Regulation U of the Board of Governors of the Federal Reserve System, as in effect from time to time), and no portion of the proceeds of the Loan will be extended to others for the purpose of purchasing or carrying margin stock. None of the transactions contemplated in this the Agreement (including, without limitation, the use of the proceeds from the Loan) will violate or result in the violation of Section 7 of the Securities Exchange Act of 1934, as amended, or any regulations issued pursuant thereto, including, without limitation, Regulations G, T, U and X of the Board of Governors of the Federal Reserve System, 12 C.F.R. Part C.F.R., Chapter 11. The proceeds of the Loan will be disbursed only for the purposes set forth in Section 2.1 hereof.

Appears in 2 contracts

Samples: Loan, Security and Agency Agreement (Silverleaf Resorts Inc), Loan and Security Agreement (Silverleaf Resorts Inc)

Use of Proceeds; Margin Stock. None of the proceeds of the Loan will be used to purchase or carry any "margin stock" (as defined under Regulation U of the Board of Governors of the Federal Reserve System, as in effect from time to time), and no portion of the proceeds of the Loan will be extended to others for the purpose of purchasing or carrying margin stock. None of the transactions contemplated in this Agreement (including, without limitation, the use of the proceeds from the Loan) will violate or result in the violation of Section 7 of the Securities Exchange Act of 1934, as amended, or any regulations issued pursuant thereto, including, without limitation, Regulations G, T, U and X of the Board of Governors of the Federal Reserve System, 12 C.F.R. Part Chapter 11. The proceeds Borrower is not, and is not required to register as, an investment company as defined by the Investment Company Act of the Loan will be disbursed only for the purposes set forth in Section 2.1 hereof1940, as amended.

Appears in 2 contracts

Samples: Loan, Security and Pledge Agreement (Federal-Mogul Corp), Loan, Security and Pledge Agreement (Federal-Mogul Corp)

Use of Proceeds; Margin Stock. None of the proceeds of the Receivables Loan will be used to purchase or carry any "margin stock" (as defined under Regulation U of the Board of Governors of the Federal Reserve System, as in effect from time to time), and no portion of the proceeds of the Receivables Loan will be extended to others for the purpose of purchasing or carrying margin stock. None of the transactions contemplated in this Agreement (including, without limitation, the use of the proceeds from the Receivables Loan) will violate or result in the violation of Section 7 of the Securities Exchange Act of 1934, as amended, or any regulations issued pursuant thereto, including, without limitation, Regulations G, T, U and X of the Board of Governors of the Federal Reserve System, 12 C.F.R. Part 11. The proceeds of the Inventory Loan will be disbursed only for the purposes payment of the Loan Costs and as set forth specifically in Section Sections 2.1 and 2.8 hereof.

Appears in 1 contract

Samples: Inventory Loan and Security Agreement (Diamond Resorts Parent, LLC)

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Use of Proceeds; Margin Stock. None of the proceeds of the Loan will be used to purchase or carry any "margin stock" (as defined under Regulation U of the Board of Governors of the Federal Reserve System, as in effect from time to time), and no portion of the proceeds of the Loan will be extended to others for the purpose of purchasing or carrying margin stock. None of the transactions contemplated in this Agreement (including, without limitation, the use of the proceeds from the Loan) will violate or result in the violation of Section 7 of the Securities Exchange Act of 1934, as amended, or any regulations issued pursuant thereto, including, without limitation, Regulations G, T, U and X of the Board of Governors of the Federal Reserve System, 12 C.F.R. Part C.F.R., Chapter 11. The proceeds Borrower is not an investment company as defined by the Investment Company Act of the Loan will be disbursed only for the purposes set forth in Section 2.1 hereof1940, as amended, and Borrower is not required to register under said Act.

Appears in 1 contract

Samples: Construction Loan and Security Agreement (Bluegreen Corp)

Use of Proceeds; Margin Stock. None of the proceeds of the Loan will be used to purchase or carry any "margin stock" (as defined under Regulation U of the Board of Governors of the Federal Reserve System, as in effect from time to time), and no portion of the proceeds of the Loan will be extended to others for the purpose of purchasing or carrying margin stock. None of the transactions contemplated in this Agreement (including, without limitation, the use of the proceeds from the Loan) will violate or result in the violation of Section 7 of the Securities Exchange Act of 1934, as amended, or any regulations issued pursuant thereto, including, without limitation, Regulations G, T, U and X of the Board of Governors of the Federal Reserve RECEIVABLES LOAN AND SECURITY AGREEMENT System, 12 C.F.R. Part 11. The proceeds of the Loan will be disbursed only for the purposes set forth in Section 2.1 hereof.

Appears in 1 contract

Samples: Receivables Loan and Security Agreement (Silverleaf Resorts Inc)

Use of Proceeds; Margin Stock. None of the proceeds of the Loan Loans will be used to purchase or carry any "margin stock" (as stock"(as defined under by Regulation U of the Board of Governors of the Federal Reserve System, as in effect from time to time), and no portion of the proceeds of the Loan Loans will be extended to others for the purpose of purchasing or carrying margin stock. None of the transactions contemplated in this Agreement (including, without limitation, the use of the proceeds from the LoanLoans) will violate or result in the violation of Section 7 of the Securities Exchange Act of 1934, as amended, or any regulations issued pursuant thereto, including, including without limitation, Regulations G, T, U and X of the Board of Governors of the Federal Reserve System, 12 C.F.R. Part 11. The proceeds Borrower is not an investment company as defined by the Investment Company Act of the Loan will be disbursed only for the purposes set forth in Section 2.1 hereof1940, as amended, and is not required to register under said Act.

Appears in 1 contract

Samples: Loan and Security Agreement (Silverleaf Resorts Inc)

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