Use of Proceeds of Revolving Loans. The proceeds of Revolving Loans shall be used to (a) refinance the indebtedness outstanding under the Xxxxx Fargo Credit Agreement, (b) finance working capital needs of Borrower, and (c) and for the purpose of making advances to Xxxxxxx Canada under (and not to exceed, in aggregate amount outstanding, the face amount of) the Intercompany Note, for the purpose of financing the working capital needs of Xxxxxxx Canada.
Use of Proceeds of Revolving Loans. Use the proceeds of Revolving Loans for general corporate purposes, including, without limitation, working capital purposes, for purposes of funding acquisitions and dispositions, for purposes of refinancing existing indebtedness, and other lawful and valid corporate purposes, which are not otherwise expressly prohibited by the terms of this Credit Agreement.
Use of Proceeds of Revolving Loans. The proceeds of the Revolving Loans may be used (i) to pay the purchase price of any Permitted Acquisition and other related transaction costs and expenses and to fund any refinancing of Indebtedness in connection with a Permitted Acquisition as set forth and certified in the Notice of Borrowing pertaining thereto, (ii) to fund working capital in the ordinary course of the business of the Company and its Subsidiaries, (iii) to amend and restate existing Indebtedness under the Prior Credit Agreement, (iv) to make Investments permitted by Section 8.11 of this Agreement, and (v) for other lawful general corporate purposes not prohibited hereunder. Notwithstanding anything herein to the contrary, no proceeds of Revolving Loans may be used to fund payments not permitted by this Agreement.
Use of Proceeds of Revolving Loans. Borrower will use proceeds of Revolving Loans only for the purposes described in Section 2.4(b).
Use of Proceeds of Revolving Loans. The proceeds of Revolving Loans shall be used for equipment financing and other working capital needs of Borrowers.
Use of Proceeds of Revolving Loans. (i) The proceeds of Revolving Credit Facility A Loans may be used for general corporate purposes of the Borrower; provided, that the proceeds of any -------- Revolving Credit Facility A Loan made on the date of a drawing under a Revolving Credit Facility A Letter of Credit and referred to in Section 2.01(h)(v)(B) hereof shall be applied to satisfy the reimbursement obligation of the Borrower to the Issuing Bank in respect of such drawing.
Use of Proceeds of Revolving Loans. The proceeds of Revolving Loans shall be used to refinance existing debt and for other working capital needs of Borrower.
Use of Proceeds of Revolving Loans. The proceeds of the Revolving ---------------------------------- Loans may be used for the following purposes: (i) on the Tender Offer Funding Date, (x) by the Company to fund a capital contribution to Acquisition for the purpose of permitting Acquisition to purchase the Shares pursuant to the Tender Offer for a price per Share not to exceed the Per Share Purchase Price (to the extent such purchase is not funded from proceeds of the Tender Offer Loans); provided that proceeds of Revolving Loans used to make such capital contribution -------- together with any of the Company's cash on hand shall not exceed $81,000,000, (y) to pay Transaction Costs up to an aggregate principal amount of $12,000,000 and (z) to repay in full all obligations of ITC under the Existing Company Credit Agreement and the Senior Notes; (ii) from and after the Tender Offer Funding Date and prior to the Merger Funding Date, to fund working capital in the ordinary course of the business of the Company and its Subsidiaries and for other lawful general corporate purposes not prohibited hereunder, including, without limitation, payments required to be made in connection with Permitted Acquisitions; provided that no more than $12,000,000 of such proceeds shall be -------- used for the purpose of financing Permitted Acquisitions; (iii) on the Merger Funding Date, (A) to fund the consummation of the Merger and the transactions contemplated by the Merger Agreement, (B) to repay any Tender Offer Loans and Revolving Loans then outstanding and, (C) to pay Transaction Costs up to an aggregate principal amount of $33,000,000 (including any such costs paid on or prior to the Tender Offer Funding Date) and (iv) from and after the Merger Funding Date, to fund working capital in the ordinary course of the business of the Company and its Subsidiaries and for other lawful general corporate purposes not prohibited hereunder, including without limitation, payments required to be made in connection with Permitted Acquisitions.
Use of Proceeds of Revolving Loans. The proceeds of the Revolving Loans may be used (i) on the Effective Date to repay Revolving Loans then outstanding under the Existing Credit Agreement, and (ii) from and after the Effective Date (A) to pay the purchase price of any Permitted Acquisition and other related transaction costs and expenses and to fund any refinancing of Indebtedness in connection with a Permitted Acquisition as set forth and certified in the Notice of Borrowing pertaining thereto, (B) to fund working capital in the ordinary course of the business of the Company and its Subsidiaries and (C) for other lawful general corporate purposes not prohibited hereunder.
Use of Proceeds of Revolving Loans. The proceeds of the ---------------------------------- Revolving Loans shall be used by the Company solely to finance its Working Capital Requirements; provided that the proceeds of the Revolving Loans borrowed -------- on the Closing Date may be used to (i) finance a portion of the Recapitalization, (ii) refinance the Existing Debt, and (iii) pay fees and expenses (including legal fees) incurred in connection with the Recapitalization and the preparation, negotiation and consummation of the Transaction Documents.
