Use of Proceeds of Supplemental Credit Facility Sample Clauses

Use of Proceeds of Supplemental Credit Facility. Section 2.3 of the Credit is hereby amended by adding the following new subsection 2.3.2 after subsection 2.3.1:
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Use of Proceeds of Supplemental Credit Facility. Section 2.3 of the Credit is hereby amended by adding the following new subsection 2.3.2 after subsection 2.3.1: '2.3.2 Supplemental Credit Facility. The Supplemental Credit Facility shall be used solely for: (i) working capital and general corporate purposes of the Borrower, the U.S. Guarantors and the European Subsidiaries; or (ii) the issuance of advance payment guarantees for the benefit of the European Subsidiaries.'
Sample 1

Related to Use of Proceeds of Supplemental Credit Facility

  • Use of Proceeds; Letters of Credit The Borrower will not permit the proceeds of any Advance or Letters of Credit to be used for any purpose other than those permitted by Section 5.09. The Borrower will not engage in the business of extending credit for the purpose of purchasing or carrying margin stock (within the meaning of Regulation U). Neither the Borrower nor any Person acting on behalf of the Borrower has taken or shall take, nor permit any of the Borrower’s Subsidiaries to take any action which might cause any of the Loan Documents to violate Regulation T, U or X or any other regulation of the Board of Governors of the Federal Reserve System or to violate Section 7 of the Securities Exchange Act of 1934 or any rule or regulation thereunder, in each case as now in effect or as the same may hereinafter be in effect, including without limitation, the use of the proceeds of any Advance or Letters of Credit to purchase or carry any margin stock in violation of Regulation T, U or X.

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