Common use of Use of Proceeds; Use of Letters of Credit Clause in Contracts

Use of Proceeds; Use of Letters of Credit. (a) No Credit Party shall, nor shall it permit any of its Subsidiaries to: (a) use the proceeds of the Revolving Advances for any purposes other than (i) to refinance or repay the advances and other obligations outstanding under the Existing Credit Agreements or any other Debt outstanding on the Closing Date, (ii) for the payment of fees and expenses related to the Transactions, (iii) for working capital purposes of the Borrower and any Subsidiary, (iv) to fund the Closing Date Acquisition, and (v) for other general corporate purposes of the Borrower and any Subsidiary, including Permitted Acquisitions; or (b) use the proceeds of the Swingline Advances or the Letters of Credit for any purposes other than (i) working capital purposes of the Borrower and any Subsidiary or (ii) other general corporate purposes of the Borrower and any Subsidiary. No Credit Party shall, nor shall it permit any of its Subsidiaries to, directly or indirectly, use any part of the proceeds of Advances or Letters of Credit for any purpose which violates, or is inconsistent with, Regulations T, U, or X.

Appears in 4 contracts

Samples: Credit Agreement (Nine Energy Service, Inc.), Credit Agreement (Nine Energy Service, Inc.), Credit Agreement (Nine Energy Service, Inc.)

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Use of Proceeds; Use of Letters of Credit. (a) No Credit Party shall, nor shall it permit any of its Subsidiaries to: (ai) use the proceeds of the Revolving Advances for any purposes other than (iA) to refinance or repay continue the advances and other obligations obligations, including without limitation the Existing Letters of Credit, outstanding under the Existing Credit Agreements or any other Debt outstanding on the Closing DateAgreement as provided herein, (iiB) for the payment of fees and expenses related to the entering into of Transactions, (iiiC) for working capital purposes of the Borrower and any Restricted Subsidiary, or (ivD) to fund the Closing Date Acquisition, and (v) for other general corporate purposes of the Borrower and any Restricted Subsidiary, including Permitted AcquisitionsAcquisitions and permitted Restricted Payments; or (bii) use the proceeds of the Swingline Swing Line Advances or the Letters of Credit for any purposes other than (iA) working capital purposes of the Borrower and any Restricted Subsidiary or (iiB) other general corporate purposes of the Borrower and any Restricted Subsidiary. No Credit Party shall, nor shall it permit any of its Subsidiaries to, directly or indirectly, use any part of the proceeds of Advances or Letters of Credit for any purpose which violates, or is inconsistent with, Regulations T, U, or X.

Appears in 1 contract

Samples: Credit Agreement (Forum Energy Technologies, Inc.)

Use of Proceeds; Use of Letters of Credit. (a) No Credit Party shall, nor shall it permit any of its Subsidiaries to: (a) use the proceeds of the Revolving Advances and the Term Advances for any purposes other than (i) to refinance or repay continue the advances and other obligations outstanding under the Existing Credit Agreements or any other Debt outstanding on the Closing DateAgreement as provided herein, (ii) for the payment of fees and expenses related to the entering into of Transactions, (iii) for working capital purposes of the Borrower and any Restricted Subsidiary, or (iv) to fund the Closing Date Acquisition, and (v) for other general corporate purposes of the Borrower and any Restricted Subsidiary, including Permitted AcquisitionsAcquisitions and permitted Restricted Payments; or (b) use the proceeds of the Swingline Swing Line Advances or the Letters of Credit for any purposes other than (i) working capital purposes of the Borrower and any Restricted Subsidiary or (ii) other general corporate purposes of the Borrower and any Restricted Subsidiary. No Credit Party shall, nor shall it permit any of its Subsidiaries to, directly or indirectly, use any part of the proceeds of Advances or Letters of Credit for any purpose which violates, or is inconsistent with, Regulations T, U, or X.

Appears in 1 contract

Samples: Credit Agreement (Forum Energy Technologies, Inc.)

Use of Proceeds; Use of Letters of Credit. (a) No Credit Party shall, nor shall it permit any of its Subsidiaries to: (a) use the proceeds of the Term Advances for any purposes other than to, on the Closing Date, refinance the advances outstanding under, and as defined in, the Bilateral Agreement; (b) use the proceeds of the Revolving Advances for any purposes other than (i) to refinance or repay the advances and other obligations outstanding under the Existing Credit Agreements or any other Debt outstanding on the Closing DateBilateral Agreement, (ii) to finance a portion of the purchase price for the Xxxxxx Acquisition, (iii) working capital purposes of any Credit Party, and (iv) other general corporate purposes of any Credit Party, including the payment of fees and expenses related to the Transactions, (iii) for working capital purposes entering into of this Agreement and the Borrower and any Subsidiary, (iv) to fund the Closing Date Acquisition, and (v) for other general corporate purposes of the Borrower and any Subsidiary, including Permitted AcquisitionsCredit Documents; or (bc) use the proceeds of the Swingline Swing Line Advances or the Letters of Credit for any purposes other than (i) working capital purposes of the Borrower any Credit Party and any Subsidiary or (ii) other general corporate purposes of the Borrower and any SubsidiaryCredit Party. No Credit Party shall, nor shall it permit any of its Subsidiaries to, directly or indirectly, use any part of the proceeds of Advances or Letters of Credit for any purpose which violates, or is inconsistent with, Regulations T, U, or X.

Appears in 1 contract

Samples: Credit Agreement (Boots & Coots International Well Control Inc)

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Use of Proceeds; Use of Letters of Credit. (a) No Credit Party shall, nor shall it permit any of its Subsidiaries to: (a) use the proceeds of the Revolving Advances for any purposes other than (i) to refinance or repay the advances and other obligations outstanding under the Existing Credit Agreements or any (other Debt outstanding on than the Closing DateTriton Liabilities), (ii) for the payment of fees and expenses related to the entering into of Transactions, (iii) for working capital purposes of the Borrower and any Restricted Subsidiary, or (iv) to fund the Closing Date Acquisition, and (v) for other general corporate purposes of the Borrower and any Restricted Subsidiary, including Permitted AcquisitionsAcquisitions and permitted Restricted Payments; or (b) use the proceeds of the Swingline Swing Line Advances or the Letters of Credit for any purposes other than (i) working capital purposes of the Borrower and any Restricted Subsidiary or (ii) other general corporate purposes of the Borrower and any Restricted Subsidiary. No Credit Party shall, nor shall it permit any of its Subsidiaries to, directly or indirectly, use any part of the proceeds of Advances or Letters of Credit for any purpose which violates, or is inconsistent with, Regulations T, U, or X.

Appears in 1 contract

Samples: Credit Agreement (Forum Energy Technologies, Inc.)

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