Common use of Use of Proceeds of Loans Clause in Contracts

Use of Proceeds of Loans. (a) The proceeds of the Loans will be used by the Borrowers only for the following purposes: (a) to pay the fees, costs and expenses incurred in connection with this Agreement, (b) to pay the expenses in connection with the Credit Parties’ exit from the Chapter 11 Cases and to refinance certain Indebtedness in accordance with the RSA and (c) provide ongoing working capital and for other general corporate purposes of the Borrowers and their Subsidiaries. The Credit Parties shall use the Letters of Credit for general corporate xxxxxxxx.Xx 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.