Use of Proceeds of the Loans. The proceeds of each advance under the Loans shall be used by the Borrowers for Permitted Uses, and for no other purposes except as may otherwise be agreed by the Lender in writing. The Borrowers shall use the proceeds of the Loans promptly.
Appears in 12 contracts
Samples: Financing and Security Agreement (Tvi Corp), Financing Agreement (Argan Inc), Financing and Security Agreement (Tvi Corp)
Use of Proceeds of the Loans. The proceeds of each advance under the Loans shall be used by the Borrowers Borrower for Permitted Uses, and for no other purposes except as may otherwise be agreed by the Lender Lenders in writing. The Borrowers Borrower shall use the proceeds of the Loans promptly.
Appears in 2 contracts
Samples: Financing and Security Agreement (Dcap Group Inc), Financing and Security Agreement (Dcap Group Inc)
Use of Proceeds of the Loans. The proceeds of each advance under the Loans shall be used by the Borrowers for Permitted Uses, and for no other purposes except as may otherwise be agreed by the Lender Requisite Lenders in writing. The Borrowers shall use the proceeds of the Loans promptly.
Appears in 2 contracts
Samples: Business Loan and Security Agreement (Vse Corp), Business Loan and Security Agreement (Vse Corp)
Use of Proceeds of the Loans. The proceeds of each advance under the Loans shall be used by the Borrowers Borrower for Permitted Uses, and for no other purposes except as may otherwise be agreed by the Lender in writing. The Borrowers Borrower shall use the proceeds of the Loans promptly.
Appears in 2 contracts
Samples: Financing and Security Agreement (Healthextras Inc), Financing and Security Agreement (Glasstech Inc)
Use of Proceeds of the Loans. The proceeds of each advance under the Loans Revolving Loan shall be used by the Borrowers Borrower for Permitted Uses, and for no other purposes except as may otherwise be agreed by the Lender in writing. The Borrowers shall use the proceeds of the Loans promptly.
Appears in 1 contract
Use of Proceeds of the Loans. The proceeds of each advance under the Loans shall be used by the Borrowers for Permitted Uses, and for no other purposes except as may otherwise be agreed by the Lender in writing. The Borrowers shall use the proceeds of the Loans promptly.
Appears in 1 contract
Samples: Financing and Security Agreement (Rand Worldwide Inc)
Use of Proceeds of the Loans. The proceeds of each advance under the Loans and each Letter of Credit issued hereunder shall be used by the Borrowers Borrower for Permitted Uses, and for no other purposes except as may otherwise be agreed by the Lender in writing. The Borrowers shall use the proceeds of the Loans promptly.
Appears in 1 contract
Use of Proceeds of the Loans. The proceeds of each advance under the Loans shall be used by the Borrowers Borrower for Permitted Uses, and for no other purposes except as may otherwise be agreed by the Lender in writing. In no event may the proceeds of either Loan be advanced by the Borrower to any Subsidiary. The Borrowers Borrower shall use the proceeds of the Loans promptly.the
Appears in 1 contract
Samples: Financing and Security Agreement (Cta Incorporated)
