Common use of Use of Proceeds of the Revolving Loan Clause in Contracts

Use of Proceeds of the Revolving Loan. 5.9(a) The Borrower is not engaged in the business of extending credit for the purpose of purchasing or carrying margin stock within the meaning of Regulation U of the Board of Governors of the Federal Reserve System. The proceeds of the Revolving Loan are not intended by the Borrower to be used to purchase or carry any margin stock or to reduce or retire any indebtedness incurred for such purpose. If requested by Lender, the Borrower has furnished to Lender statements in conformity with the requirements of Federal Reserve Form U-1 referred to in Regulation U to the foregoing effect.

Appears in 2 contracts

Samples: Revolving Loan and Security Agreement (K Tronik International Corp), Revolving Loan and Security Agreement (Integrated Biopharma Inc)

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Use of Proceeds of the Revolving Loan. 5.9(a) The Borrower is not engaged in the business of extending credit for the purpose of purchasing or carrying margin stock within the meaning of Regulation U of the Board of Governors of the Federal Reserve System. The proceeds of the Revolving Loan are not intended by the Borrower to be used to purchase or carry any margin stock or to reduce or retire any indebtedness incurred for such purpose. If requested by LenderXxxxxx, the Borrower has furnished to Lender statements in conformity with the requirements of Federal Reserve Form U-1 referred to in Regulation U to the foregoing effect.

Appears in 1 contract

Samples: Control Agreement (Media Sciences International Inc)

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Use of Proceeds of the Revolving Loan. 5.9(a) The Borrower is not engaged in the business of extending credit for the purpose of purchasing or carrying margin stock within the meaning of Regulation U of the Board of Governors of the Federal Reserve System. The proceeds of the Revolving Loan are not intended by the Borrower to be used to purchase or carry any margin stock or to reduce or retire any indebtedness incurred for such purpose. If requested by LenderAgent, the Borrower has furnished to Lender Agent statements in conformity with the requirements of Federal Reserve Form U-1 referred to in Regulation U to the foregoing effect.

Appears in 1 contract

Samples: Revolving Loan and Security Agreement (Spar Group Inc)

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