Common use of Use of WCMA Loan Proceeds Clause in Contracts

Use of WCMA Loan Proceeds. The proceeds of each WCMA Loan initiated by Customer shall be used by Customer solely for working capital in the ordinary course of its business, or, with the prior written consent of MLBFS, for other lawful business purposes of Customer not prohibited hereby. Customer agrees that under no circumstances will the proceeds of any WCMA Loan be used: (i) for personal, family or household purposes of any person whatsoever, or (ii) to purchase, carry or trade in securities, or repay debt incurred to purchase, carry or trade in securities, whether in or in connection with the WCMA Account another account of Customer with MLPF&S or an account of Customer at any other broker or dealer in securities, or (Ill) unless otherwise consented to in writing by MLBFS, to pay any amount to Merrill Lynch and Co., Inc. or any of Its subsidiaries, other than Mxxxxxx Lxxxx Bank USA, Merrill Lynch Bank & Trust Co. or any sxxxxxxxxx xx xxxxxr of them (xxxxxxxnx XXXFS and Merrill Lynch Credit Corporation).

Appears in 4 contracts

Samples: Loan and Security Agreement (Rent a Wreck of America Inc), Loan and Security Agreement (Rent a Wreck of America Inc), Loan and Security Agreement (Rent a Wreck of America Inc)

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Use of WCMA Loan Proceeds. The proceeds of each WCMA Loan initiated by Customer shall be used by Customer solely for working capital in the ordinary course of its business, or, with the prior written consent of MLBFS, for other lawful business purposes of Customer not prohibited hereby. Customer agrees that under no circumstances will the proceeds of any WCMA Loan be used: (i) for personal, family or household purposes of any person whatsoever, or (ii) to purchase, carry or trade in securities, or repay debt incurred to purchase, carry or trade in securities, whether in or in connection with the WCMA Account Account, another account of Customer with MLPF&S or an account of Customer at any other broker or dealer in securities, or (Illiii) unless otherwise consented to in writing by MLBFS, to pay any amount to Merrill Lynch Mxxxxxx Lxxxx and Co., Inc. or any of Its its subsidiaries, other than Mxxxxxx txxx Xxxxxxx Lxxxx Bank USA, Merrill Lynch Mxxxxxx Lxxxx Bank & Trust Co. or any sxxxxxxxxx xx xxxxxr subsidiary of either of them (xxxxxxxnx XXXFS including MLBFS and Merrill Lynch Mxxxxxx Lxxxx Credit Corporation).

Appears in 3 contracts

Samples: Loan and Security Agreement (Yp Net Inc), Loan and Security Agreement (Stockeryale Inc), Lynch Term Loan and Security Agreement (Laser Pacific Media Corp)

Use of WCMA Loan Proceeds. The proceeds of each WCMA Loan initiated by Customer shall be used by Customer solely for working capital in the ordinary course of its business, or, with the prior written consent of MLBFS, for other lawful business purposes of Customer not prohibited hereby. Customer agrees that under no circumstances will the proceeds of any WCMA Loan be used: (i) for personal, family or household purposes of any person whatsoever, or (ii) to purchase, carry or trade in securities, or repay debt incurred to purchase, carry or trade in securities, whether in or in connection with the WCMA Account Account, another account of Customer with MLPF&S or an account of Customer at any other broker or dealer in securities, or (Illiii) unless otherwise consented to in writing by MLBFS, to pay any amount to Merrill Lynch Xxxxxxx Xxxxx and Co., Inc. or any of Its its subsidiaries, other than Mxxxxxx Lxxxx xxxx Xxxxxxx Xxxxx Bank USA, Merrill Lynch Xxxxxxx Xxxxx Bank & Trust Co. or any sxxxxxxxxx xx xxxxxr subsidiary of either of them (xxxxxxxnx XXXFS including MLBFS and Merrill Lynch Xxxxxxx Xxxxx Credit Corporation).

Appears in 3 contracts

Samples: Loan and Security Agreement (Derma Sciences Inc), Loan Agreement (Dreams Inc), Loan Agreement (Faro Technologies Inc)

Use of WCMA Loan Proceeds. The proceeds of each WCMA Loan initiated by Customer shall be used by Customer solely for working capital in the ordinary course of its business, or, with the prior written consent of MLBFSMLSFS, for other lawful business purposes of Customer not prohibited hereby. Customer agrees that under no circumstances will the proceeds of any WCMA Loan be used: (i) for personal, family or household purposes of any person whatsoever, or (ii) to purchase, carry or trade in securities, or repay debt incurred to purchase, carry or trade in securities, whether in or in connection with the WCMA Account Account, another account of Customer with MLPF&S or an account of Customer at any other broker or dealer in securities, or (Illiii) unless otherwise consented to in writing by MLBFS, to pay any amount to Merrill Lynch Xxxxxxx Xxxxx and Co., Inc. or any of Its its subsidiaries, other than Mxxxxxx Lxxxx xxxx Xxxxxxx Xxxxx Bank USA, Merrill Lynch Xxxxxxx Xxxxx Bank & Trust Co. or any sxxxxxxxxx xx xxxxxr subsidiary of either of them (xxxxxxxnx XXXFS including MLBFS and Merrill Lynch Xxxxxxx Xxxxx Credit Corporation).

Appears in 1 contract

Samples: Loan Agreement

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Use of WCMA Loan Proceeds. The proceeds of each WCMA Loan initiated by Customer shall be used by Customer solely for working capital in the ordinary course of its business, or, with the prior written consent of MLBFS, for other lawful business purposes of Customer not prohibited hereby. Customer agrees that under no circumstances will the proceeds of any WCMA Loan be used: (i) for personal, family or household purposes of any person whatsoever, or (ii) to purchase, carry or trade in securities, or repay debt incurred to purchase, carry or trade in securities, whether in or in connection with the WCMA Account Account, another account of Customer with MLPF&S or an account of Customer at any other broker or dealer in securities, or (Illiii) unless otherwise consented to in writing by MLBFS, to pay any amount to Merrill Lynch and Co., Inc. or any of Its its subsidiaries, other than Mxxxxxx Lxxxx Xxxxxxx Xxxxx Bank USA, Merrill Lynch Bank & Trust Co. or any sxxxxxxxxx xx xxxxxr xxxxxxxxxx xf xxxxer of them (xxxxxxxnx XXXFS xxxxxdxxx MLBFS and Merrill Lynch Credit Corporation).

Appears in 1 contract

Samples: Loan and Security Agreement (Productivity Technologies Corp /)

Use of WCMA Loan Proceeds. The proceeds of each WCMA Loan initiated by Customer shall be used by Customer solely for working capital in the ordinary course of its business, or, with the prior written consent of MLBFS, for other lawful business purposes of Customer not prohibited hereby. Customer agrees that under no circumstances will the proceeds of any WCMA Loan be used: (i) for personal, family or household purposes of any person whatsoever, or (ii) to purchase, carry or trade in securities, or repay debt incurred to purchase, carry or trade in securities, whether in or in connection with the WCMA Account Account, another account of Customer with MLPF&S or an account of Customer at any other broker or dealer in securities, or (Illiii) unless otherwise consented to in writing by MLBFS, to pay any amount to Merrill Lynch Men-ill Xxxxx and Co., Inc. or any of Its its subsidiaries, other than Mxxxxxx Lxxxx xxxx Xxxxxxx Xxxxx Bank USA, Merrill Lynch Xxxxxxx Xxxxx Bank & Trust Co. or any sxxxxxxxxx xx xxxxxr subsidiary of either of them (xxxxxxxnx XXXFS including MLBFS and Merrill Lynch Xxxxxxx Xxxxx Credit Corporation).

Appears in 1 contract

Samples: Loan and Security Agreement (Thanksgiving Coffee Co Inc)

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