Use of Proceeds of Local Loans and Acceptances Sample Clauses

Use of Proceeds of Local Loans and Acceptances. The proceeds of the Local Loans and Acceptances hereunder shall be used by the relevant Borrower for the purpose of refinancing certain outstanding Indebtedness of such Borrower and its Subsidiaries under the Existing Agreement, repurchasing or redeeming the Sinking Fund Debentures and for general corporate purposes of such Borrower and its Subsidiaries (other than to finance Investments).