Common use of Lending Relationships Clause in Contracts

Lending Relationships. Except as disclosed in the Registration Statement and the Prospectus, (i) neither the Company nor any of the Subsidiaries has any lending or similar relationship with B. ▇▇▇▇▇ FBR or any bank of other lending institution affiliated with B. ▇▇▇▇▇ FBR and (ii) the Company will not use any of the proceeds from the sale of the Placement Shares by the Company hereunder to reduce or retire the balance of any loan or credit facility extended by B. ▇▇▇▇▇ FBR or any of its “affiliates” or “associated persons” (as such terms are used in FINRA Rule 2720) or otherwise direct any such proceeds to B. ▇▇▇▇▇ FBR or any of its “affiliates” or “associated persons” (as so defined).

Appears in 2 contracts

Sources: At Market Issuance Sales Agreement (Monmouth Real Estate Investment Corp), At Market Issuance Sales Agreement (Monmouth Real Estate Investment Corp)

Lending Relationships. Except as disclosed in the Registration Statement and the Prospectus, (i) neither the Company nor any of the Subsidiaries has any lending or similar relationship with B. ▇. ▇▇▇▇▇ FBR Securities or any bank of other lending institution affiliated with B. ▇. ▇▇▇▇▇ FBR Securities and (ii) the Company will not use any of the proceeds from the sale of the Placement Shares by the Company hereunder to reduce or retire the balance of any loan or credit facility extended by B. ▇. ▇▇▇▇▇ FBR Securities or any of its “affiliates” or “associated persons” (as such terms are used in FINRA Rule 2720) or otherwise direct any such proceeds to B. ▇. ▇▇▇▇▇ FBR Securities or any of its “affiliates” or “associated persons” (as so defined).

Appears in 2 contracts

Sources: At Market Issuance Sales Agreement (Umh Properties, Inc.), At Market Issuance Sales Agreement (Umh Properties, Inc.)

Lending Relationships. Except as disclosed in the Registration Statement and the Prospectus, (i) neither the Company nor any of the Subsidiaries has any lending or similar relationship with B. ▇▇▇▇▇ FBR Securities or any bank of other lending institution affiliated with B. ▇▇▇▇▇ FBR Securities and (ii) the Company will not use any of the proceeds from the sale of the Placement Shares by the Company hereunder to reduce or retire the balance of any loan or credit facility extended by B. ▇▇▇▇▇ FBR Securities or any of its “affiliates” or “associated persons” (as such terms are used in FINRA Rule 2720) or otherwise direct any such proceeds to B. ▇▇▇▇▇ FBR Securities or any of its “affiliates” or “associated persons” (as so defined).

Appears in 2 contracts

Sources: At Market Issuance Sales Agreement (Umh Properties, Inc.), At Market Issuance Sales Agreement (Monmouth Real Estate Investment Corp)

Lending Relationships. Except as disclosed in the Registration Statement and the Prospectus, (i) neither the Company nor any of the Subsidiaries has any lending or similar relationship with B. ▇. ▇▇▇▇▇ FBR or any bank of other lending institution affiliated with B. ▇. ▇▇▇▇▇ FBR and (ii) the Company will not use any of the proceeds from the sale of the Placement Shares by the Company hereunder to reduce or retire the balance of any loan or credit facility extended by B. ▇. ▇▇▇▇▇ FBR or any of its “affiliates” or “associated persons” (as such terms are used in FINRA Rule 2720) or otherwise direct any such proceeds to B. ▇. ▇▇▇▇▇ FBR or any of its “affiliates” or “associated persons” (as so defined).

Appears in 1 contract

Sources: At Market Issuance Sales Agreement (Umh Properties, Inc.)