Purpose of Loans definition

Purpose of Loans. As more fully set forth in Section 2.2, the proceeds of the Subordinated Loan and the Senior Loan shall be used only for restructuring the Indebtedness owed to JEDI II under the terms of the Original Loan Agreement and for the reasonable fees, expenses, and financing costs incurred by the Borrower in connection with the foregoing. The proceeds of the Subordinated Loan shall not be used for any purpose which violates applicable Requirements of Law, including laws regulating investments in foreign jurisdictions.
Sample 1
Purpose of Loans. As more fully set forth in Section 2.2, the proceeds of the Subordinated Loan and the loans under the CITBC Financing Agreement shall be used only for restructuring the Indebtedness owed to the Subordinated Lenders under the terms of the Original Loan Agreement, for the reasonable fees, expenses, and financing costs incurred by the Borrower in connection with the foregoing and for the general corporate purposes of the Borrower and its Subsidiaries. The proceeds of the Subordinated Loan shall not be used for any purpose which violates applicable Requirements of Law, including laws regulating investments in foreign jurisdictions.
Sample 1
Purpose of Loans. For the acquisition of Equipment on Schedule A and new laboratory, office, production, research and development and additional equipment. Lender at its sole option may finance used equipment and/or equipment older than 90 days from the date of supplier's invoice. Lender will finance soft costs in amounts not in excess of twenty-five percent (25%) of each Loan, but shall not exceed a maximum of $500,000 in total. Notwithstanding the foregoing, the soft costs on the first Loan may be a maximum of 55% of that Loan, but in no case exceed the maximum. Such soft costs to include leasehold improvements, delivery, installation, sales tax and software. All items financed with the proceeds of the Loan are subject to final review and acceptance by the Lender.
Sample 1

Examples of Purpose of Loans in a sentence

  • Section 6.1 Financial Statements and Other Information 34 Section 6.2 Notice of Material Events 36 Section 6.3 Legal Existence 36 Section 6.4 Insurance 36 Section 6.5 Payment of Indebtedness and Performance of Obligations 37 Section 6.6 Observance of Legal Requirements 37 Section 6.7 Books and Records; Visitation 37 Section 6.8 Purpose of Loans 37 Section 6.9 Maintenance of Status 38 ARTICLE 7.

  • RATE NOTE AMOUNT DATE DATE ------------- -------- ------------ -------- ---- Line of Credit MNB Prime $5,000,000.00 9/22/97 9/21/96 or 225 b.p. (2.25%) in excess of 1-month LIBOR Purpose of Loans listed above: Working capital, Letters of Credit, real estate investments and bridge facility to Line of Credit Facility.

  • Liens 45 6.9 Intellectual Property 45 6.10 [Reserved] 45 6.11 Taxes 45 6.12 Federal Regulations 46 6.13 ERISA 46 6.14 Investment Company Act; Other Regulations 47 6.15 Subsidiaries 47 6.16 Accuracy and Completeness of Information 47 6.17 Purpose of Loans; Commitments 47 6.18 Environmental Matters 48 SECTION 7.

  • Section 5.15 Disclosure Section 5.16 Compliance with Law Section 5.17 Intellectual Property Section 5.18 Purpose of Loans Section 5.19 Labor Matters Section 5.20 Solvency Section 5.21 Collateral Documents.

  • Sign or encourage others to sign official documents, such as the application form, on behalf of the prospective student.

  • Purpose of Loans: For the acquisition of new production equipment, environmental chambers, office furniture, tenant improvements and software.

  • Purpose of Loans Taken by VSLAs: Survey Results from the study and control group: Percentage Distribution 57Table 4.19.

  • Purpose of Loans........................................................

  • REPRESENTATIONS AND WARRANTIES 32 3.1 Financial Condition 32 3.2 No Change 33 3.3 Existence; Compliance with Law 33 3.4 Power; Authorization; Enforceable Obligations 33 3.5 No Legal Bar; No Default 33 3.6 No Material Litigation 34 3.7 Investment Company Act 34 3.8 Federal Regulations 34 3.9 ERISA 34 3.10 Environmental Matters 34 3.11 Purpose of Loans 35 3.12 Restrictions on Subsidiaries 35 SECTION 4.

  • Purpose of Loans.................................................................................


More Definitions of Purpose of Loans

Purpose of Loans. For the acquisition of one (1) new 100LC Analog Teradyne mixed signal tester with bolt-on handlers, two multitest quad site handlers, one ATM lead conditioner, two tape and reel inspection systems, CAD software and leasehold improvements. Lender will finance soft costs in amounts not in excess of twenty (20%) percent of the aggregate principal amount of the Loans outstanding at any time. Such soft costs to include, but not be limited to leasehold improvements (up to maximum of $125,000), delivery, installation, sales tax and software. All items financed with the proceeds of the Loan are subject to final review and acceptance by the Lender.
Sample 1

Related to Purpose of Loans

  • Total Utilization of Revolving Loan Commitments means, as at any date of determination, the sum of (i) the aggregate principal amount of all outstanding Revolving Loans (other than Revolving Loans made for the purpose of repaying any Refunded Swing Line Loans or reimbursing the applicable Issuing Lender for any amount drawn under any Letter of Credit but not yet so applied) plus (ii) the aggregate principal amount of all outstanding Swing Line Loans plus (iii) the Letter of Credit Usage.

  • Total Utilization of Revolving Commitments means, as at any date of determination, the sum of (i) the aggregate principal amount of all outstanding Revolving Loans (other than Revolving Loans made for the purpose of repaying any Refunded Swing Line Loans or reimbursing Issuing Bank for any amount drawn under any Letter of Credit, but not yet so applied), (ii) the aggregate principal amount of all outstanding Swing Line Loans, and (iii) the Letter of Credit Usage.

  • Notice of Revolving Credit Borrowing has the meaning specified in Section 2.02(a).

  • Eurocurrency Revolving Facility Borrowing means a Borrowing comprised of Eurocurrency Revolving Loans.

  • ABR Revolving Facility Borrowing means a Borrowing comprised of ABR Revolving Loans.

  • Existing Revolving Loans has the meaning specified in Section 2.16(a).

  • Pending Revolving Loans means, at any time, the aggregate principal amount of all Revolving Loans requested in any Notice of Borrowing received by the Agent which have not yet been advanced.

  • Existing Revolving Credit Loans shall have the meaning provided in Section 2.14(g)(ii).

  • Specified Existing Revolving Credit Commitment shall have the meaning provided in Section 2.14(g)(ii).

  • Existing Revolving Credit Class shall have the meaning provided in Section 2.14(g)(ii).

  • Term B Borrowing means a borrowing consisting of simultaneous Term B Advances of the same Type made by the Term B Lenders.

  • L/C Borrowing means an extension of credit resulting from a drawing under any Letter of Credit which has not been reimbursed on the date when made or refinanced as a Revolving Credit Borrowing.

  • Term A Borrowing means a borrowing consisting of simultaneous Term A Advances of the same Type made by the Term A Lenders.

  • Term B Loans means (a) the term loans made by the Lenders to the Borrower pursuant to Section 2.01(a), and (b) any Incremental Term Loans in the form of Term B Loans made by the Incremental Term Lenders to the Borrower pursuant to Section 2.01(c).

  • Refinancing Revolving Loans means one or more Classes of Revolving Loans that result from a Refinancing Amendment.

  • Fixed Rate Loans means Euro-Dollar Loans or Money Market Loans (excluding Money Market LIBOR Loans bearing interest at the Base Rate pursuant to Section 8.01(a)) or any combination of the foregoing.

  • Eurodollar Revolving Borrowing means a Borrowing comprised of Eurodollar Revolving Loans.

  • ABR Revolving Loan means any Revolving Facility Loan bearing interest at a rate determined by reference to the ABR in accordance with the provisions of Article II.

  • Revolving Credit Borrowing Request means a request made pursuant to Section 2.4 in the form of Exhibit B-4.

  • Replacement Revolving Loans shall have the meaning assigned to such term in Section 2.21(l).

  • Type of Loan means a Base Rate Loan or a LIBOR Loan.

  • Pro-Rata Borrowing has the meaning assigned to such term in Section 2.03(a).

  • Refinancing Revolving Commitments means one or more Classes of Revolving Loan commitments hereunder that result from a Refinancing Amendment.

  • Revolving Facility Borrowing means a Borrowing comprised of Revolving Facility Loans.

  • Existing Revolving Commitments has the meaning specified in Section 2.17(b).

  • Notice of Revolving Credit Advance has the meaning ascribed to it in Section 1.1(a).