Qualified Purpose. Borrower will not request or receive any Borrowing hereunder if, after giving effect thereto and the use of the proceeds thereof, that portion of the principal balance of the Revolving Loan which is outstanding at such time and was utilized for any purpose other than a Qualified Purpose exceeds twenty five percent (25%) of the Borrowing Base in effect at such time. Borrower agrees that each Request for Borrowing will include in addition to the information described in Section 2.2 hereof, a certification from an Authorized Officer of Borrower as to the purpose and utilization of the proceeds of such Borrowing. Additionally, notwithstanding anything to the contrary contained in Section 3.2 hereof, all principal payments received by Banks with respect to the Revolving Loan shall be applied first to that portion of the outstanding principal balance of the Revolving Loan utilized for purposes other than Qualified Purposes. Notwithstanding the foregoing, the Credit Parties shall not be required to comply with this Section 9.15 at any time (a) on or prior to the date Texas Pacific Group makes the Proposed Equity Contribution (and Parent, in turn, contributes the proceeds of such Proposed Equity Contribution to the common equity capital of Borrower), and (b) that the Borrowing Base is equal to the Conforming Borrowing Base. Any principal outstanding under the Revolving Loan immediately after giving effect to receipt and application of the proceeds of the Proposed Equity Contribution (as required pursuant to Section 2.6) shall be deemed to be utilized for a Qualified Purpose.
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Qualified Purpose. Borrower will not request or receive any Borrowing hereunder if, after giving effect thereto and the use of the proceeds thereof, that portion of the principal balance of the Revolving Loan which is outstanding at such time and was utilized for any purpose other than a Qualified Purpose exceeds twenty five percent (25%) of the Conforming Borrowing Base in effect at such time. Borrower agrees that each Request for Borrowing will include include, in addition to the information described in Section 2.2 hereof, a a
10 - 1 certification from an Authorized Officer of Borrower as to the purpose and utilization of the proceeds of such Borrowing. Additionally, notwithstanding anything to the contrary contained in Section 3.2 hereof, all principal payments received by Banks with respect to the Revolving Loan shall be applied first to that portion of the outstanding principal balance of the Revolving Loan utilized for purposes other than Qualified Purposes. Notwithstanding the foregoing, the Credit Parties shall not be required to comply with this Section 9.15 at any time (a) on or prior to the date Texas Pacific Group makes the Proposed Equity Contribution (and Parent, in turn, contributes the proceeds of such Proposed Equity Contribution to the common equity capital of Borrower), and (b) that the Borrowing Base is equal to the Conforming Borrowing Base. Any principal outstanding under the Revolving Loan immediately after giving effect to receipt and application of the proceeds of the Proposed Equity Contribution (as required pursuant to Section 2.6) shall be deemed to be utilized for a Qualified Purpose."
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