Use of Proceeds of Term Loan Sample Clauses

Use of Proceeds of Term Loan. All of the proceeds of the Term Loan shall be used to repay a portion of the unpaid balance of the Revolving Credit Loans as in existence immediately prior to the Term Loan single Advance.

Use of Proceeds of Term Loan. The proceeds of the Term Loan were to be used, and were in fact used to by Borrowers, refinance existing term and other debt of Borrowers.

Use of Proceeds of Term Loan. The proceeds of the Term Loan shall be used to refinance Existing Indebtedness of Borrowers and to purchase certain assets in accordance with the terms of the Air Products APA.

Use of Proceeds of Term Loan. 11. The proceeds of Term Loan II shall be used in their entirety to finance the Acquisition.

Use of Proceeds of Term Loan. Proceeds of the Term Loan shall be used to payoff first mortgage bonds on the 2701 Xxxx Xxxxxx, Xxxx Xxxxxxxxx, Xxxxxxx xxxmercial facility held by 1st National Bank of Louisville.

Use of Proceeds of Term Loan. Borrowers shall use the proceeds of the Term Loan to refinance the existing debt of Allex Xxxk.

Use of Proceeds of Term Loan. The proceeds of the Term Loan shall be used by the Borrower to pay for the expenses described in Schedule 2.05 hereto.

Use of Proceeds of Term Loan. The proceeds of the Term Loan shall be used solely for New Store Costs; provided that pending use for such purposes, the proceeds of the Term Loan shall be utilized FIRST, to reduce the amounts due under the Revolving Credit, and SECOND, to fund a segregated collateral account (the "Segregated Account") which shall be pledged to the Lender as collateral for the Liabilities. After the initial disbursement of the proceeds of the Term Loan, as provided above, if the Borrower desires to utilize the proceeds of the Term Loan for the payment of New Store Costs and (a) no Suspension Event then exists, the Borrower may request an advance from the Revolving Credit Lenders for that purpose (the Lender not hereby representing that the Revolving Credit Lenders will in fact make such advance) or may obtain a release of funds from the Segregated Account for the purpose, or (b) if a Suspension Event then exists, the Borrower shall furnish the Lender with ten (10) Business Days' prior written notice thereof, which notice shall be accompanied by a certification by the Borrower (in form satisfactory to the Lender) of the amount of the Term Loan proceeds to be so utilized and a breakdown of the actual proposed use thereof; in the event a Suspension Event then exists, the Lender, in its discretion, may release or refuse to release, funds held in the Segregated Account, or direct or refuse to direct, the Revolving Credit Lenders to advance to the Borrower, the amounts so requested. During the existence of a Suspension Event, the Borrower shall have no authority to, and shall not, request the Revolving Credit Lenders to make an advance for the payment of the New Store Costs without the prior written consent of the Lender.

Use of Proceeds of Term Loan. The proceeds of the Term Loan shall be used only for (i) the repayment of existing indebtedness to HD Special-Situations II, LP in the aggregate amount not to exceed $2,800,000 (the “Existing Indebtedness”) and (ii) the acquisition of retail credit card processing residual income streams generated from merchants in the United States after the Closing Date (the “Future Residuals”), but only if the acquisition of such Future Residuals has been approved in writing by the Lender prior to its consummation and satisfies the requirements set forth in Section 2.1(d) below, each as determined in Agent’s sole and absolute discretion. Immediately following the Closing Date (and in no event more than two (2) days from the Closing Date), Borrower shall provide agent with evidence of payoff of such Existing Indebtedness in form and substance reasonably satisfactory to Agent (including without limitation, evidence of termination of financing statements of record prior to the Closing Date in respect of the Existing Indebtedness). For the avoidance of doubt, in no event shall any proceeds of the Term Loan be used in connection with transactions involving Borrower’s interest in Digital Payments Processing Limited or any of its Affiliates.

Use of Proceeds of Term Loan. The proceeds of the Term Loan shall be used (i) to pay that portion of the "Purchase Price" under (and as defined in) the Recoil Australia Acquisition Agreement attributable to the assets of Recoil Australia (other than the Capital Stock of Recoil Belgium and Recoil U.K.) and (iii) for working capital in the ordinary course of the Borrower's business and for other lawful general corporate purposes.