Use of Proceeds of the Credit Facility. Available Borrowings shall be used for the following purposes:
a. On the Closing Date, a Borrowing shall be advanced (the "Closing Disbursement") for the purposes of:
(i) paying in full all amounts owing under the Existing BHJE Loan and the Existing BHGD Loan as of the Closing Date;
(ii) paying in full the fees due Agent Bank as set forth in the Fee Side Letter, the costs, fees and expenses of Title Company incurred in connection with the issuance of the Title Insurance Policies, the costs, fees and expenses of Hendxxxxx & Xorgxx, XXC, attorneys for Agent Bank, and associate counsel and insurance consultants retained by them incurred to the Closing Date; and
(iii) paying other costs, fees and expenses incurred by Borrowers, including attorneys fees and related costs, incurred in connection with the Bank Facilities.
b. Subsequent to the Closing Date for the purposes of providing financing for general corporate purposes, including Investments to the extent permitted by Section 6.06, financing Capital Expenditures and working capital requirements of the Borrower Consolidation subject to the terms, covenants and limitations hereinafter set forth.
Use of Proceeds of the Credit Facility. Available Borrowings shall be used for the purposes of:
2.2.1. On the Restatement Effective Date (collectively the "Closing Disbursements"):
2.2.1.1. reimbursing the Existing Lenders for their respective pro rata shares of all loans, advances, accrued interest, fees and other obligations outstanding under the Existing Bank Loan as of the Restatement Effective Date; and
2.2.1.2. paying in full the fees due Agent Bank as set forth in the Fee Side Letter, the costs, fees and expenses of Title Company incurred in connection with the issuance of the Title Policy Endorsements, the reasonable costs, fees and expenses of Xxxxxxxxx & Xxxxxx, LLC, attorneys for Agent Bank, and insurance consultants retained by them incurred to the Restatement Effective Date.
2.2.2. During the Revolving Credit Period:
2.2.2.1. funding working capital needs and general corporate purposes of the Borrower relating to the Hotel/Casino Facility;
2.2.2.2. funding ongoing Capital Expenditure requirements of the Borrower relating to the Hotel/Casino Facility; and
2.2.2.3. funding repayment of Swingline Advances as provided in Section 2.08.
Use of Proceeds of the Credit Facility. Available Borrowings shall be used for the purposes of:
a. On the Closing Date (collectively the "Closing Disbursements"):
(i) paying in full all loans and advances outstanding under the Existing Real Estate Debt and the Existing Equipment Debt as of the Closing Date in the approximate aggregate amount of Five Million One Hundred Twenty-Five Thousand Dollars ($5,125,000.00);
(ii) financing the costs of acquisition by BHGD of the GVI Shares from the Stock Sellers pursuant to the terms of the Stock Purchase Agreement in the aggregate amount of the Stock Purchase Price;
(iii) financing the costs of acquisition by BHGD of the Gambxx Xxxtract Rights from Gambxx xxxsuant to the terms of the Gambxx Xxxignment Agreement in the aggregate amount of the Gambxx Xxxchase Price;
(iv) financing the costs of acquisition by BHGD of GGI's undivided one-half interest in the H/C Real Property and the Millsite 29 Parcel in the aggregate amount of the Land Purchase Price; and
(v) paying in full the Upfront Fee, the costs, fees and expenses of Title Company incurred in connection with the issuance of the Title Policy, the costs, fees and expenses of Hendxxxxx & Xorgxx, XXC, attorneys for Agent Bank, and associate counsel and insurance consultants retained by them incurred to the Closing Date.
b. During the Revolving Credit Period:
(i) financing the costs of construction of the Parking Garage Project, subject to compliance with the requirements of Article III C, up to the maximum aggregate amount of Two Million Five Hundred Thousand Dollars ($2,500,000.00);
(ii) funding working capital needs of Borrowers; and
(iii) funding ongoing Capital Expenditure requirements of Borrowers.
Use of Proceeds of the Credit Facility. Available Borrowings shall be used by Borrowers to fully pay the Existing Bank Facility as of the Closing Date, and thereafter for general corporate purposes, including financing Capital Expenditures and working capital requirements of the Borrower Consolidation and Share Repurchases, New Venture Investments and the NYNY Buy- Out by PRMA subject to the limitations hereinafter set forth.
Use of Proceeds of the Credit Facility. Available Borrowings shall be used for the purposes of:
a. On the Closing Date (collectively the "Closing Disbursements") paying in full the Upfront Fee, the costs and expenses of filing the FPG Financing Statements and the costs and expenses of Xxxxxxxxx & Xxxxxx, LLC, attorneys for Lender, incurred to the Closing Date.
b. During the Revolving Credit Period funding the short term cash requirements and working capital needs of the Xxxxxx Consolidation and for the general corporate purposes of the Xxxxxx Consolidation;
Use of Proceeds of the Credit Facility. Available Borrowings shall be used for the purposes of:
a. On the Closing Date (collectively the "Closing Disbursements"):
(i) paying in full all loans and advances outstanding under the Existing Bank Loan and the WFB Loan as of the Closing Date;
(ii) paying to Xxxxxx and Xxxxxxxxxxx or reimbursing ACI for the payment to Xxxxxx and Magliarditi of up to a maximum aggregate amount of Four Million Dollars ($4,000,000.00) pursuant to the terms of the Gem Settlement Agreement; and
(iii) paying in full the Upfront Fee, the costs, fees and expenses of Title Insurance Companies incurred in connection with the issuance of the Title Insurance Policies, the costs, fees and expenses of the attorneys for Borrowers and the costs, fees and expenses of Xxxxxxxxx & Xxxxxx, attorneys for Agent Bank, and associate counsel and insurance consultants retained by them incurred to the Closing Date.
b. During the Construction Period:
(i) funding Construction Disbursements under the Construction Loan Subfacility, subject to the terms and conditions set forth in Section 2.09 and Article IX of the Credit Agreement;
(ii) funding the cost of acquiring a portion or portions of the Option Property, subject to the terms and conditions set forth in Article III D of the Credit Agreement.
Use of Proceeds of the Credit Facility. Available Borrowings shall be used for the purposes of:
a. On the Closing Date (collectively the "Closing Disbursements"):
(i) continuing the outstanding principal balance under the Existing Credit Agreement and Existing RLC Note as Funded Outstandings under the Credit Facility and continuing all outstanding letters of credit under the 31 Existing Credit Agreement as Letters of Credit under the L/C Facility hereunder;
(ii) payment in full of the Upfront Fee; and
(iii) paying in full the costs, fees and expenses of Title Insurance Company incurred in connection with the issuance of the Title Insurance Policy, the costs, fees and expenses of the attorneys for Borrowers and the costs, fees and expenses of Henderson & Morgan, LLC, xxxxxxxys xxx Xxent Bank, and associate counsel and insurance consultants retained by them incurred to the Closing Date.
b. During the Revolving Credit Period:
(i) funding the repayment of L/C Reimbursement Obligations as provided in Section 2.08;
(ii) funding working capital needs of the Borrower Consolidation relating to the Casino Facilities;
(iii) funding ongoing Capital Expenditure requirements of the Borrower Consolidation relating to the Casino Facilities; and
(iv) funding Investments and Distributions to the extent permitted in the Credit Agreement.
Use of Proceeds of the Credit Facility. Available Borrowings shall be used for the purposes of:
a. On the Closing Date (collectively the "Closing Disbursements"):
(i) paying in full all loans and advances outstanding under the Existing Real Estate Debt and the Existing Equipment Debt as of the Closing Date;
(ii) financing the costs of acquisition by CCCC of fee title to the Legends Property and the costs of acquisition by WMCKAC of fee title to the Diamond Lil's Property;
(iii) Nine Hundred Twenty-Three Thousand Dollars ($923,000.00) toward repayment of outstanding Indebtedness owing by Borrowers to Guarantor; and
(iv) paying in full the Upfront Fee, the costs, fees and expenses of Title Company incurred in connection with the issuance of the Title Policy, the costs, fees and expenses of Xxxxxxxxx & Xxxxxx, attorneys for Agent Bank, and associate counsel and insurance consultants retained by them incurred to the Closing Date.
b. During the Revolving Credit Period:
(i) funding working capital needs of Borrowers relating to the Casino Facilities;
(ii) financing Distributions to Guarantor to the extent not prohibited by the Financial Covenants and so long as no Default or Event of Default would result from the making of such Distributions;
(iii) financing the costs of acquisition by WMCKVC of fee title to the Parking Lot Property, subject to compliance with the requirements of Article III C; and
(iv) funding ongoing Capital Expenditure requirements of Borrowers relating to the Casino Facilities.
