Common use of Purpose of the Facility Clause in Contracts

Purpose of the Facility. 3.2.1 Each of the Facility shall be utilised by the Customer for the purpose specified in the Letter of Offer or such other purpose as the Bank may permit or allow. 3.2.2 Notwithstanding the provisions herein, the Bank is not obliged to monitor or to ensure that any of the Facility is utilised by the Customer in accordance with the purpose so stipulated in the Letter of Offer or otherwise permitted by the Bank and the Bank shall have no liability whatsoever to the Customer, the Security Party and any other party for any breach by the Customer of this Clause.